PancakeSwapHow & Where to Buy PancakeSwap A Step-by-Step Guide to Buying CAKE
- Sign up at CEX.IO, the #1 rated CAKE exchange.
- Fund your account with cash or crypto.
- Buy
CAKE
- STEP 1Find the Best CAKE Exchange
Ease of useVery EasyTime to 1st Buy24h Volume$11,759,697Coins88British cryptocurrency exchange CEX.IO proves that good things come in small packages, with the lowest credit and debit card fees, and one of the best off-ramp processes in the industry. Deposit fees in GBP are given a 50% discount, making them ultra-appealing to UK traders. Founded in 2013, with over 4m registered accounts. Recently branched out to the US.
Go to CEX.IO and create an account. In some cases, the exchange will need some personal information like email address, phone number, name, address, and a copy of your government ID or passport.
This is completely normal and all exchanges we list on this page have security in place to protect your personal info.
- STEP 2Fund Your Account
It is now time to add funds to your newly created exchange account. This will allow you to purchase PancakeSwap
CAKE quickly.Upon signing up at the exchange, you should be shown easy to follow instructions to buy CAKE with cash from your bank account or credit or debit card. Some exchanges also accept alternative funding methods such as Paypal, Apple Pay, Skrill, or Sofort by Klarna. You can also deposit any supported cryptocurrencies directly into your exchange account and trade them for CAKE.
Frequently Asked Questions About Buying & Selling PancakeSwap (CAKE)
How do I Buy CAKE with Crypto?
If you want to buy CAKE with a cryptocurrency like Bitcoin, Ethereum, Litecoin, XRP, or BNB, then you can simply sign up for CEX.IO and send your crypto to your account.
You can view the supported cryptocurrencies for the exchange you selected by going to the assets or wallet screen. Once you see a list of coins, you should be able to select one and click "deposit" which will show you the address to send your crypto to CEX.IO.
You will then copy that address and paste it into the wallet holding your cryptocurrency and send.
Depending on the blockchain used and how quickly the exchange processes deposits, your funds should show up in your exchange balance within minutes.
How do I sell PancakeSwap (CAKE)?
To sell CAKE, simply reverse the buying process described above. You will likely need to trade your CAKE into a USD coin like 
USDT. Look for a "Sell" button in your account wallet and sell for Dollars, then initiate a transfer to your bank account. To withdraw cash to your bank, you will likely need to complete a full KYC (Know Your Customer) process if you haven't already.
How and Where to Buy PancakeSwap (CAKE)
A group of anonymous developers launched PancakeSwap in September 2020, a non-custodial DEX (decentralized exchange) on the BSC (Binance Smart Chain).
In 2021, the front end of the PancakeSwap website was hacked, with some of the DeFi projects exposed to hijackers, although the smart contracts were not at risk. The PancakeSwap website warns of phishing risks and advises checking you are logging in to the official PancakeSwap site.
PancakeSwap has over $5.1 billion staked $CAKE tokens, with over 3 million users. Still, with anonymous founders and the security risks, you might be cautious about using the PanckeSwap website. This post features a way to buy $CAKE tokens without risking your money on a site with potential vulnerabilities.
What Is PancakeSwap (CAKE)?
PancakeSwap is an AMM (automated money maker). On this decentralized financial platform, $CAKE token holders exchange their coins to provide liquidity to PancakeSwap via yield farming and, in return, receive rewards.
The PancakeSwap exchange swaps BEP20 tokens on BSC (Binance Smart Chain). As an AMM, its users trade against the liquidity pool, which continues to fill from user deposits who receive LP (liquidity pool) tokens known as FLIP. As a reward for adding to the liquidity pool, users receive $CAKE tokens.
$CAKE is the native token of PancakeSwap that powers the ecosystem. $CAKE holders have governance in voting on PancakeSwaps’s proposals for the ecosystem, and you can take part in IFO token sales when available.
You can stake in a syrup pool. Even staking one $CAKE token in a PancakeSwap syrup pool earns you token rewards.
Later, users can reclaim a share of the liquidity pool and receive a portion of the transaction fees.
What Makes PancakeSwap Unique?
The automated market maker (AMM) model is not essentially unique to PancakeSwap. If you become a liquidity provider, you can earn income and help the platform stay liquid. The $CAKE token is an incentive for users to provide liquidity to the PancakeSwap pools.
Once you stake your tokens, you lock them into the liquidity pool. It’s a “farming” process, with $CAKE tokens as a reward. You can unstake your $CAKE tokens with zero holding time, but that isn’t without risks.
You can use your $CAKE tokens to enter the PancakeSwap lottery. The entry fee is 10 $CAKE tokens. Numbers are generated randomly between 1-and 14, and if you match four numbers, you win 50% of the lottery pool, however much that is at the time. You can also win NFTs (non-fungible tokens), which you can trade for $CAKE tokens or store in a secure wallet.
How and Where to Buy PancakeSwap (CAKE)?
If you want to buy PancakeSwap (CAKE) tokens, it’s probably best to choose a reliable cryptocurrency exchange rather than registering with the PancakeSwap website.
Several cryptocurrency exchanges list $CAKE tokens. Binance, for instance, is equally suitable for experienced or new crypto investors. The platform has a vast range of trading markets and coins if you wish to explore the crypto space beyond buying $CAKE tokens: –
1. Go to the Binance website, and in the top right corner of the home page, click on “register”
2. Complete all the required details and upload your KYC documents
3. You can deposit with supported cryptocurrency or use your Visa or Mastercard. Wire transfer is another option for deposits
4. There are several trading pairs available for PancakeSwap (CAKE): CAKE/USDT, CAKE/BUSD, CAKE/BTC, CAKE/BNB & CAKE/GPB
5. Transfer your $CAKE tokens to a secure crypto wallet. Use the Binance mobile Trust Wallet if you prefer, which you can download to iOS or Android devices
Important note: Never leave your cryptocurrency tokens on an open exchange.
How do I Sell PancakeSwap (CAKE)?
1. You can sell your $CAKE tokens directly from the Binance Trust Wallet or the exchange
2. Click on the $trade” or “convert” tab
3. Exchange or sell the $CAKE tokens for a popular stablecoin like $USDT
4. Transfer the $USDT to an off-ramp platform that supports fiat currencies (Coinbase is a good place to start)
5. When the $USDT is in your account, simply sell it or convert it to the fiat currency of your choice and request a bank transfer
Should I Buy PancakeSwap (CAKE)?
Whether or not to buy PancakeSwap (CAKE) is your choice as we aren’t financial advisors. It’s best to do additional research on the project to see if it is the cryptocurrency token you want to buy. As there are over 18,500 listed coins, you might prefer other options.
If you decide to buy $CAKE tokens, avoid the risks of registering with a scam crypto website by choosing an established, trustworthy exchange like Binance, KuCoin or Gate.io.
How do I invest in PancakeSwap (CAKE)? Safely?
Whatever financial instrument you choose for investment, there are always risks. The cryptocurrency market is volatile, and there are no guarantees that you’ll make a profit from your $CAKE investment. Never invest more than you can comfortably afford to lose, and try not to panic as the crypto market has a downswing at times.
Always store your crypto tokens securely. Binance has a choice of wallets, KuCoin provides its users with a free non-custodial or custodial wallet, and Gate.io has a cold storage wallet (offline).
$CAKE pairs listed on KuCoin and Gate.io: –