Are you an investor trying to use PancakeSwap but running into the dreaded “cannot estimate gas issue”? Are you using PancakeSwap with Binance Smart Chain (BSC) and having trouble when trying to deploy your contracts or swap tokens? You are not alone!
During the last few months, many users have reported that their transactions may as may require manual gas limit corrections. Don’t panic – this problem is actually pretty common and can be resolved quickly with some simple troubleshooting measures.
Here, we will look at how to fix “Cannot Estimate Gas Fee Issue” as well as other related issues that may come up along the way. So if you’re looking for solutions on how to trade safely and effectively on PancakeSwap, then read on.
What Does PancakeSwap “Cannot Estimate Gas” Mean?
PancakeSwap is a leading decentralized exchange that offers a cheaper alternative to Ethereum-based platforms. Millions of transactions take place daily on the platform, and it’s not surprising if some glitches occur. The “cannot estimate gas fees” error is one of the more common issues users face when using PancakeSwap. When this error appears on PancakeSwap, it means that the exchange is not able to calculate the fee for the transaction.
This error usually occurs when there are too many decimal in the number of tokens being swapped. For instance, if someone were to attempt to swap BNB for 155.968325 ANKR, they would likely get this error message due to there being many decimal places in the amount of tokens.
Another reason why “cannot estimate gas” may appear is because of scam token. In order to determine whether or not this is true, one should view its recent transactions and see if people have been buying and selling it recently. If so, then it is more than likely not a scam and merely an issue with PancakeSwap itself that causes the “cannot estimate gas” error message to appear.
In any case, it is important to understand why this error appears as it can be quite frustrating for users. After all, no one likes having their transactions come grinding to a halt. Below, we will look at the most effective ways to fix this issue.
How To Fix “Cannot Estimate Gas” Issue?
Here are a few troubleshooting measures you can take to fix this issue:
Problem: Low Slippage Tolerance
Slippage is an important factor when dealing with crypto transactions. It is the difference between the expected and actual price of a trade which occurs more frequently than with other types of assets due to the volatility in cryptocurrency prices. These liquidity issues can prevent a transaction from going through, resulting in the “cannot estimate gas fees” error message.
Solution: Raise the Slippage Tolerance
To avoid this issue, you should raise the slippage tolerance of your transaction. This will guarantee that your transaction goes through without any problems. While it increases your chances of success, you should keep in mind that raising slippage tolerance could mean that you don’t get an optimal price for your token. The higher the tolerances set, the greater the risk that you’ll get a worse trading price than anticipated.
As such, it’s important to weigh up market conditions and do research before setting slippage parameters too high. It’s also worth noting that some exchanges may require minimums and maximums when setting these levels so it pays to check with them first before committing to a trade.
Here how to change the slippage tolerance on PancakeSwap:
1: Go to PancakeSwap and select the tokens you would like to swap by putting them in the “To” and “From” fields. Once you have selected the tokens, confirm that the amounts are valid and ready to be swapped.
2: Click on the Settings icon in the top right corner of your screen, which looks like a gear. On this page, you’ll see various options for adjusting settings. Locate the “Slippage Tolerance” section, which can be found near the bottom.
3: Select 12% as the maximum slippage tolerance for your transaction. This should eliminate the “cannot estimate gas fees” error message and enable your transaction to go through successfully.
It is important to note that setting a higher or lower slippage tolerance than 12% can still be beneficial depending on the specific situation that you are trading in; however, 12% is often seen as a good starting point when making transactions on PancakeSwap as it is high enough for trades to succeed but low enough for you to get a decent return on investment for your tokens.
Problem: Decimal Point Issue
The issue of too many decimal places can be a major impediment to executing transactions on PancakeSwap. If the token amount is overly precise, you will likely see an alert that says “cannot estimate gas fees”.
Solution: Reduce Decimal Places
To fix this issue, you should reduce the number of decimal places in your transaction. This can be done by selecting fewer decimal places when inputting the token amount you are looking to trade. For example, if your token amount is 651.83496372, you should reduce this to 651.83 or something with even fewer decimal places. This will help to ensure that the transaction goes through without any issues.
When reducing the number of decimal digits, make sure to double-check that the value is still accurate. For example, if your initial value was 651.83496372 and you reduce it to 651.83, you may potentially be missing out on small amounts of value which could affect your overall return rate when trading within PancakeSwap.
Therefore, it’s best to be cautious when reducing the number of decimal places and round down slightly in order to maintain accuracy while ensuring that the transaction goes through without problems.
By doing so, you will make sure that the amount is not too precise and allow your transaction to go through without any problems. Here’s a step by step guide on how to reduce the number of decimals before executing a transaction:
1: To reduce the decimal digits, launch PancakeSwap and navigate to the Swap section.
2: Enter the token you want to purchase in the “To” column.
3: Then, enter the token you would like to swap it within the “From” column.
4: After entering both tokens into their respective columns, change the last digits of the token in the “From” column to zeros. This step is necessary since you cannot estimate or approximate values for this field as it would lead to potential discrepancies when executing transactions.
5: By reducing the number of decimal digits used, this should now resolve any problems that may have prevented your transaction from processing correctly. Your transaction should now progress without issue.
It is important to remember that by truncating these decimal numbers, there could be a slight difference between what you were expecting and what actually gets executed when completing a transaction. Therefore it is best practice to double check every transaction before confirming them so as not to experience any unwanted surprises after execution.
Problem: Too Many Zeros
The issue of too many zeros is another common problem that can arise when making trades on PancakeSwap. This issue can occur when the amount of a token you are looking to purchase have too many zeros. For instance, if users are attempting to swap coins valued at 200,000, they may receive an error message stating “cannot estimate gas fees.”
Solution: Reduce Zeros
In order to complete a particular transaction when there are too many zeros in the coin amount, users can opt to change the last digits from zero. Here are the steps you need to take to reduce the number of zeros:
1: Launch PancakeSwap and navigate to the Swap section.
2: Enter the token you want to purchase in the “To” column, and enter the token you would like to swap it within the “From” column.
3: After entering both tokens into their respective columns, change the last digits of the token from zero to some non-zero number in the “From” section. This will help to prevent any issues that arise when there are too many zeros in a coin amount.
By reducing the number of zeros used, this should now resolve your problem and your error disappear that may have prevented your transaction from processing correctly. Your transaction should now progress without issue.
Problem: Transaction Is Too Slow
Sometimes, transactions can take too long to process on PancakeSwap, and this can cause frustration among users. Depending on the speed of your swap, you might end up being passed over for more appealing trades if your swap is set too slow.
Solution: Increase Transaction Speed
PancakeSwap offers three different transaction speeds – standard, fast, and instant. The speed of the transaction is a key factor in determining its appeal to validators since it will have higher network fees. The standard speed is usually the slowest but provides a low fee option for those who don’t need their transaction to be completed instantly.
Fast transactions are quicker and cost more than the standard option but still provide a reasonable fee that can fit most budgets. Finally, instant transactions offer the quickest way to complete your transaction and enable you to pay significantly higher network fees.
Here are the steps to increase gas limit or transaction speed.
1: Launch PancakeSwap and navigate to the Swap section.
2: Once opened, you will see a menu button in the top right corner of the screen. Click this button to open up the settings menu.
3: From here you can select either “Fast” or “Instant” to complete your transaction process. This will make your transaction much faster than before, as it allows for a direct connection between your wallet and PancakeSwap’s decentralized exchange.
Through this process, it is now possible to rectify your problem that may have been occurring with slow transactions.
Still Not Fixed? Contact The Token Developers
If none of the solutions above worked to fix the “cannot estimate gas” error, another option is to contact the token developers and explain that the token’s contract may have a code issue. Reaching out to these developers can be done through Twitter, Reddit (via the token’s subreddit), or Telegram chat.
If there is no direct way to reach out and contact the token developers, CoinMarketCap or CoinGecko can provide this information. Upon navigating to either website, users can search for the token in question by typing in its name in the search box. Then, they can tap on the token and navigate to its Socials tab which will have all of its contact details listed.
It is important that when contacting these developers that users include as much detail and facts as possible in order to ensure clear communication and understanding between both parties.
The Bottom Line:
PancakeSwap is a new and innovative decentralized exchange platform that has made it easier for users to trade crypto tokens. However, it can be susceptible to certain errors such as the “cannot estimate gas” error which may prevent users from completing their trades. Thankfully, this article has provided you with some solutions to fix this issue and ensure that your trades can be completed successfully. Additionally, if the issue is not fixed with any of these solutions, users can contact the token developers for further help.
It should now be much easier to complete successful transactions and trade crypto tokens on PancakeSwap!