This guide is for those who want to buy PancakeSwap. I know there are plenty of people who have no idea how to buy PancakeSwap from exchange sites and may be confused. Don’t worry. Using this guide you can easily buy PancakeSwap and take profit from investing and trading.
When you search for PancakeSwap ($CAKE) on Google you’ll see that there are no exchanges or tools available to purchase it directly with fiat currency like USD. Most popular crypto exchanges do not allow you to buy PancakeSwap directly, though there are some indirect ways of purchasing and later exchanging it for other coins or cash.
What is PancakeSwap ($CAKE)?
PancakeSwap is an automated market maker, decentralized finance (Defi) application that allows users to exchange tokens, providing liquidity via farming and earning fees in return. It was launched in September 2020 and is a decentralized exchange for swapping BEP20 tokens on Binance Smart Chain.
PancakeSwap is a decentralized exchange, or DEX, that allows users to swap BEP-20 tokens. Similar to other decentralized exchanges, users can swap between crypto-assets without the need for an intermediary. To trade on PancakeSwap, you must have Binance Smart Chain on your mobile wallet or use a web-based wallet like MetaMask. Unlike centralized exchanges, PancakeSwap is non-custodial, which means that only you have access to your funds. In contrast, centralized exchanges like Coinbase hold your funds for you and may have access to your private keys.
PancakeSwap allows users to trade BEP20 tokens, provide liquidity to the exchange and earn fees, stake LP tokens to earn CAKE, stake CAKE to earn more CAKE, and stake CAKE to earn tokens of other projects.
How To Buy PancakeSwap ($CAKE)?
No matter what people say, it’s easy to buy PancakeSwap with a credit card. Your first step will always be to buy USDT with your credit card. They can then be converted to PancakeSwap Token. Transfer ETH/USDT to an exchange that supports PancakeSwap Token. Finally, exchange it for CAKE. Please follow our step-by-step guide below on how to buy PancakeSwap Token ($CAKE).
The well-known website Coinbase has already enabled trading for Bitcoin Cash, Ether, and Litecoin, but what about what’s commonly referred to as altcoins? Here’s how to buy PancakeSwap ($CAKE)!
There are a number of ways to get your hands on the CAKE token, with one of the easiest is through the Binance exchange.
Step 1: Register on Crypto Exchange
Binance is one of the most popular cryptocurrency exchanges in the world, with millions of users and a huge selection of tradable currencies. The platform also offers its own crypto debit card, allowing you to spend your crypto assets almost anywhere that accepts Visa as a payment option.
If you don’t already have a Binance account, you can create one in a matter of minutes. Investors from the USA, UK who don’t have access to Binance can go with Gate.io or KuCoin.Sign Up on Binance Sign Up on Gate.io Sign Up on KuCoin
You may also like: How to buy Altcoins from PancakeSwap with MetaMask Wallet
Step 2: Buy USDT or BNB with fiat money
Now head over to the Binance wallet overview and buy USDT or BNB. It’s a super easy process that shouldn’t take more than five minutes. (Traders from the United States can also use the exchanges listed above).
Step 3: Trade USDT or BNB for CAKE
Once you’ve some USDT in your wallet, Go to the trade section and search for the pair that contains CAKE and USDT (eg: CAKE/USDT). The exchange will show how much Cake you can get for the amount of USDT you deposit. This rate is based on the current market rate. You can also see this rate in a chart format by clicking on the pair (eg: CAKE/USDT).
You can see your PancakeSwap Token ($CAKE) in your Binance Wallet. Congratulations! You have finally bought PancakeSwap Token ($CAKE)!
Step 4: Transfer CAKE to Wallet
Don’t keep any of your crypto coins on an exchange. These are the biggest targets for hackers, and several platforms have been hacked in the past, so you might lose all of your coins if there’s a breach. If you’re looking for a free alternative, consider using a software wallet.
There are various wallets like TrustWallet, MetaMask. You can use any of them to store your CAKE tokens.
Frequently Asked Questions
Can I buy PancakeSwap Token on Coinbase?
No, not all cryptocurrencies are as easy to get as others. PancakeSwap Token is one of them. It’s not listed on Coinbase’s app or the Coinbase Wallet.
Where can I buy PancakeSwap Token crypto?
You can buy PancakeSwap Token with any centralized or decentralized crypto exchange which works on Binance Blockchain technology like Binance, PancakeSwap, KuCoin, Gate.io.
What exchanges sell PancakeSwap Token?
You can sell PancakeSwap Token with any decentralized crypto exchange which is built on Binance Blockchain technology.
Is PancakeSwap Token crypto?
No, CAKE Token is a digital token built on the Binance network chain BNC.
How do I buy PancakeSwap Token with PayPal?
No, you cannot buy PancakeSwap Token with PayPal directly. However, you can use Binance to exchange your fiat currency in PayPal for $CAKE.
Can I buy PancakeSwap through Cash?
No, you cannot buy PancakeSwap Token with your cash directly. However, you can use Binance to exchange your cash for $CAKE.
Can I mine PancakeSwap Token instead of buying?
No, you cannot mine PancakeSwap Token as it has a different network structure than Bitcoin. You can only buy PancakeSwap Token from an exchange.