BurgerSwap 101 for beginners
In this article we will provide you with the basics of how to use the BurgerSwap platform for trading.
We will discuss 4 basic activities that every user should know of.
- Set up MetaMask for BurgerSwap
- Deposit BNB BEP20 from Binance.com
- Swap BNB for BURGER on BurgerSwap
- Provide liquidity for the BURGER/BNB pool
1. Set up MetaMask for Binance Smart Chain
- Download MetaMask for your Chrome browser.
2. Add the Binance Smart Chain to your MetaMask wallet, simply follow these steps:
(1) In your MetaMask, click the menu which is set to “Main Ethereum Network” by default. In the dropdown click “Custom RPC”.
(2) A form will appear, where you need to fill in certain parameters to connect to the Binance Smart Chain network.
(3) Fill in the following parameters:
- Network name: Binance Smart Chain
- New RPC URL: https://bsc-dataseed.binance.org/
- ChainID: 56
- Symbol: BNB
- Block Explorer: https://explorer.binance.org/smart
(4) Now switch in the menu from Mainnet Ethereum Network to Binance Smart Chain and you will see the default currency change from ETH to BNB.
Also check out the one-pager on how to set up MetaMask for Binance Smart Chain.
You are now ready to bake your own Burgers!
2. Deposit BNB BEP20 from Binance.com
BurgerSwap is built on Binance Smart Chain, hence BNB is the underlying asset for the BurgerSwap ecosystem. In this guide, we will show you how to transfer your BNB (or other assets) to BurgerSwap using Binance.com, MetaMask and the Binance Chain Wallet Chrome Extension.
Withdraw BEP20 assets from Binance.com to MetaMask wallet
- Visit https://www.binance.com/en and log in.
- Click on Wallet-Overview-Withdraw, and select BNB from the dropdown.
3. Make sure your MetaMask network is set to the Binance Smart Chain network. Copy your Binance Smart Chain account address from MetaMask.
4. Paste your account address to the Recipient’s address, select Binance Smart Chain, and enter the amount you want to send. Click on Submit.
Once the funds are received in your MetaMask Binance Smart Chain account, you can connect to BurgerSwap and start trading!
3. Swap BNB for BURGER on BurgerSwap
- Visit the BurgerSwap platform at https://burgerswap.org/
2. Click on [Swap] and select the tokens you want to swap. Put [BNB] in From and [BURGER] in To. Enter the amount of BNB you want to swap, click on [Swap].
3. Make sure you are happy with the slippage and transaction fee, then click [Confirm swap]. Confirm the transaction in MetaMask. Wait for a while and your BURGER will arrive in your MetaMask.
4. In MetaMask, click [Add Token] — [Custom Token] — Copy and paste BURGER contract address: 0xAe9269f27437f0fcBC232d39Ec814844a51d6b8f — [Next] — [Add Token]. Then will be able to see the BURGER you just swapped arrived in your MetaMask wallet.
4. Provide liquidity for the BURGER/BNB pool (advanced users)
Before adding liquidity to a pool on BurgerSwap make sure that you understand the risk of “impermanent loss”
Read all you need to know about impermanent loss in this article.
1. Go to https://burgerswap.org/ and connect your MetaMask Wallet by pushing the “connect wallet” button.
2. Click [Pool] on the main page and select [Add Liquidity] to create a new pool.
3. Choose the [BNB] and [BURGER] from the dropdown list, enter the amount, and click on [Supply].
4. Confirm the transaction in MetaMask and complete liquidity provision.
- How to add liquidity on BurgerSwap?: https://medium.com/@bnburgerking/how-to-add-liquidity-and-list-your-token-on-burgerswap-bb4dbeb854db
- BurgerSwap announcement: https://medium.com/@bnburgerking/introducing-burgerswap-a-democratized-amm-on-binance-smart-chain-ac19287b5a2a
- BurgerSwap exchange: https://burgerswap.org/
- BURGER🍔 token contract: https://www.bscscan.com/token/0xAe9269f27437f0fcBC232d39Ec814844a51d6b8f
- Github: https://github.com/burgerswap-org/burgerswap-core
- Twitter: https://twitter.com/burger_swap
- Telegram: https://t.me/burgerswap
- Telegram Announcements: https://t.me/BurgerSwapAnn