You can find many decentralized exchanges to buy Puppy coin and other popular Binance Smart Chain cryptocurrencies. But you have to pay attention to the peculiarities of the crypto market and not lose your money.
The importance of choosing the right decentralized exchange to buy Puppy coin is of most importance so that the positives outweigh the negatives.
The most common way to get Bitcoin, Ethereum, Chainlink, Litecoin, and other digital currencies is through centralized exchanges.
However, to buy Puppy coin (BEP-20 tokens) you have to sign up in decentralized exchanges.
The largest exchanges to start trading are the following:
- BakerySwap
- PancakeSwap
- 1inch
- BitSwap
- KyberSwap
- ParaSwap
- Belt.fi
- Νarwhalswap
- WardenSwap
- Swap.arken
- Rubic
- FibSwap
- Dex.Guru
What are decentralized exchanges?
We are in the area of the alternative financial system. As we have explained, there are now decentralized applications that provide automated banking services.
These are blockchain-based open-source protocols that play the role of banking institutions. They do not only make remittances, but receive deposits, offer loans, insurance, and investment services.
So if there are alternative banks, what is more natural than having alternative exchanges! Indeed, there are Decentralized Exchanges. DEX are smart contracts “built” on a blockchain Network like Ethereum and BSC.
It is a type of cryptocurrency exchange that allows direct peer-to-peer transactions to be performed securely. Straight, without the presence of an intermediary. Anyone can trade without having to give their personal data.
How does a decentralized exchange operate?
In decentralized exchanges there are peculiarities in relation to the traditional ones. First, only coins made in the blockchain Binance Smart Chain (BEP-20) and Ethereum (ERC-20) are mainly available. The user can not deposit in fiat, but can make trades with stablecoins, such as usdt, dai, usdc.
On most DEX platforms users buy spot without orderbook. The user can not set a price at which to trade. How is the price determined if there is no orderbook? In DEX platforms there are the so-called pools, which have 50% BNB or some stablecoin and 50% various other BEP-20 tokens to buy Puppy coin.
Any user who wants to change BNB for a BEP-20 token to buy Puppy coin through swapping. Automatically places his BNB there and takes out the BEP-20 token and vice versa.
Conclusion
Pay special attention to which tokens you trade. In a system where there are no controllers to “determine” your fate, you must be more careful not to fall into a fake token.
Each user should confirm that he is in the right pool and not in some imitation, since anyone can make an erc20 and BEP-20 token with the same name of a known token. Confirmation can be made via Etherscan, looking at whether the data of the smart contracts of the real token are in line with what is written in DEX.
Buy Puppy coin importing smart contract address: 0xdb766082401abd8751ce3182a13ab71709dd7ad2
A great feature of DEX platforms are bots (automated trading systems), which trade faster than humans. Another feature is slippage. Slippage is the difference between the expected price of a trade and the price at which the trade is executed. The stock slippage is at 5%. To get the value we see in the swap, it is best to put our slippage below 1%.
There is a case for our transaction to be reverted if the price changes above our slippage percentage until the transaction is confirmed. The execution time of the transaction depends on how much gas fee we are willing to pay.
When you put the gas fee in the stock option “high“, it will usually take about 30 seconds until it is confirmed. Every time you make a transaction to swap or buy Puppy coin you pay fees to the BSC blockchain and liquidity providers. Gas fees fluctuate depending on the “traffic” that exists in the blockchain. The fee on liquidity provides is at 0.3% of the transaction volume.