When swapping tokens on PancakeSwap, the error of insufficient output amount PancakeSwap is a common issue that users often encounter. Are you searching for a solution to this problem? This guide can assist you.
What Does Insufficient Output Amount Mean on PancakeSwap?
When trading on exchanges like PancakeSwap, you are likely to experience a range of error messages “insufficient liquidity” and “unsupported chain ID error” among others. But one very common error is the “PancakeSwap’s insufficient output amount error.” This is a message that pops up when a user tries to buy or sell tokens without enough slippage tolerance. In crypto trading, slippage refers to the amount of loss a trader is willing to take should the market price change between the time they place their buy or sell order and the time the order is executed.
Let’s break that down a bit.
A typical crypto trade happens when a trader makes a buy or sell order. At this time, they indicate how much they are willing to buy or sell a particular token for. The exchange then lists the order, tries to identify a match, and only executes the trade when it finds a suitable match.
However, the crypto market is highly turbulent. Token prices tend to rise and drop drastically within very short time frames. This means that if the exchange is to follow the order’s price fixedly, very few trades will execute. This is where slippage comes into play.
What is Slippage on PancakeSwap
Think of PancakeSwap’s slippage as the margin of error allowed for a given trade. When making a crypto trade, traders need to set a slippage that gives their trade flexibility in case market prices change before the order’s execution time.
Once they set slippage and execute the trade, the amount they are willing to lose or gain from the transaction is called slippage tolerance.
On PancakeSwap, slippage is a percentage. The slippage tolerance on the platform shows how much a price can go up or down during a transaction.
How to Fix Insufficient Output Amount PancakeSwap
The solution to the PancakeSwap error “insufficient output amount” is to increase slippage tolerance. The default slippage tolerance on PancakeSwap is about 0.8%. If you leave this as your slippage, your trade will never run if the price fluctuates by more than 0.8%. This means you need to increase slippage to have a higher chance of successful transactions.
There are two ways to increase slippage on PancakeSwap. Let’s go over the step-by-step instructions for both strategies.
Strategy 1: Gradually Increase Slippage Tolerance
Slippage tolerance is there to ensure traders don’t make very high losses. So, if you set a very high tolerance, you run the risk of losing more if prices go down before your order is filled. To prevent this, traders can increase slippage gradually until the error message fails to pop up. Here’s how to get this done.
- Step 1: Log in to your PancakeSwap account. Make sure that you connect PancakeSwap to an external wallet like TrustWallet or MetaMask. Click on the Trade option on the navigation bar, and select Swap.
- Step 2: Choose the token you want to trade in the From field.
- Step 3: Select the tokens you want to get in the To field.
- Step 4: Click the Gear icon to access PancakeSwap Settings.
- Step 5: On the pop-up that appears, go to Slippage tolerance and select the highest value on the list.
Proceed with your transaction to see whether the “insufficient output amount” error message will pop up. If it does, repeat the process, this time increasing slippage by one, and try again to see whether the error appears.
Strategy 2: Drastically Increase Slippage Tolerance
Increasing slippage gradually may feel like a waste of time. So you can try to increase the percentage all at once. However, make sure that you have calculated the figure you intend to use so that you do not incur significant losses.
Here are the instructions on how to drastically increase slippage tolerance on PancakeSwap.
- Step 1: Navigate to your PancakeSwap account and select the tokens you want to swap.
- Step 2: Go to Settings and click on the last value under the Slippage Tolerance section.
- Step 3: Once this value is highlighted, proceed to change it to your desired percentage.
FAQs
1. Can I fix the insufficient output error message on PancakeSwap without customer support?
You don’t need customer support to help you fix the PancakeSwap insufficient output amount error. You can quickly resolve this problem by adjusting your slippage amount in your account’s settings.
2. How do I increase slippage tolerance on PancakeSwap?
You can increase slippage tolerance on PancakeSwap by navigating to the platform’s settings and changing the slippage percentage under the slippage section. However, this is only possible once you’ve selected the tokens you want to exchange.
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