How to Buy/Swap Coins on Metamask Wallet
Swapping, exchanging, or trading cryptocurrencies is commonly referred to as a "Swap." You can perform swaps directly on Metamask or use decentralized finance (DeFi) platforms.
- Swapping on Metamask is straightforward—select the swap option from the main interface. However, this method tends to incur higher fees and lacks risk control since Metamask acts as an intermediary connecting to external DeFi apps.
- Swapping directly on popular DeFi platforms with high trading volumes is the preferred choice for most users. Typical swap fees range around 0.02%. Each blockchain network (e.g., BSC, Ethereum) has its own DeFi platforms—for instance, PancakeSwap for Binance Smart Chain (BSC) and Uniswap for Ethereum.
This example demonstrates swapping RACA tokens for BNB on the Binance Smart Chain using PancakeSwap.
Step 1: Log Into Metamask
First, access your Metamask wallet via a browser extension or mobile app.
- Ensure the network is set to Binance Smart Chain (BSC).
- Expand the wallet window for easier navigation if needed.
Step 2: Connect to PancakeSwap
Since we’re using BSC, PancakeSwap is the ideal platform due to its competitive rates.
- Visit PancakeSwap.finance.
- Click Connect Wallet (top-right corner).
- Select Metamask as your wallet provider.
- Approve the connection in your Metamask pop-up.
- Once connected, your wallet address will display on PancakeSwap.
Step 3: Execute the Swap
Navigate to Trade > Swap.
- Field 1: Select the token you’re swapping (e.g., RACA).
- Field 2: Choose the token you want (e.g., BNB).
- Enter the amount (e.g., 5000 RACA) and click Swap.
Note: Some tokens require manual addition:
- In the token selection menu, search for the token name > Import.
- Or go to Manage Tokens > enter the token contract address > Import.
After confirming the swap details:
- Click Confirm Swap on PancakeSwap.
- Approve the transaction in Metamask.
- Wait for the transaction to complete (check progress via Metamask).
Advanced Tips
Swap Settings
Click the gear icon (⚙️) near the Swap button to adjust:
- Speed (GWEI): Higher speeds cost more but process faster—useful during network congestion.
- Slippage Tolerance: Increase this (%) during high volatility to ensure the trade executes.
Verify Transactions
In Metamask:
- Go to Activity > View on Block Explorer.
- Under Transactions, review recent swaps.
- BEP-20 Token Txns lists token-specific trades.
Security Best Practices
- Limit Token Approvals: Only grant permissions to trusted swap platforms.
- Revoke Unused Permissions: Regularly review/revoke token access via tools like Etherscan.
- Disconnect DApps: After swapping, disconnect your wallet from unused platforms.
FAQs
1. Why is my Metamask swap fee so high?
Metamask aggregates liquidity from multiple sources, which can lead to higher fees. For lower costs, use direct DeFi platforms like PancakeSwap.
2. How do I add a custom token to Metamask?
Paste the token’s contract address into Metamask’s Add Token feature. Always verify the address from official sources.
3. What’s slippage tolerance?
It’s the maximum price movement you accept during a swap. Set it higher (e.g., 3–5%) for volatile tokens.
4. Can I swap tokens across different blockchains?
No—swaps occur within the same network. Use cross-chain bridges (e.g., Synapse) for inter-network transfers.
👉 Learn how to secure your Metamask wallet
For further reading on DeFi strategies, explore our 👉 advanced crypto guides.