How to buy PancakeSwap | Buy PancakeSwap in four easy steps

April 18, 2023 10:33 pm

PancakeSwap is powered by Binance Smart Chain (BSC), it provides users with automated asset trading through its Automated Market Maker (AMM) system. PancakeSwap has its native BEP-20 token, CAKE, which can be earned through yield farming or won in the platform’s lottery. PancakeSwap is mostly popular due to its swapping capabilities, low fees, and fast transactions in its wallet.

How to buy PancakeSwap Coin in four easy steps

PancakeSwap is based on a BEP-20 token, so it cannot be bought directly. Here are a few steps that you can follow to easily purchase PancakeSwap coins.

Step 1 – Setting up your account on a cryptocurrency exchange

Step 2 – Setting up your cryptocurrency wallet

Step 3 – Now Deposit BEP-20 Tokens

Step 4: Connect your wallet to the exchange

Step 5: Swap BEP-20 Token with CAKE

Step 1 – Setting up your account on a cryptocurrency exchange

The first thing that comes into play is making an account in PancakeSwap or any other cryptocurrency wallet of your choice, which just needs your basic information to set up. Platforms like Binance have CAKE listed there, so it can also be used.

Step 2 – Setting up your cryptocurrency wallet

The next thing is to create a secure personal wallet. You can either use a TrustWallet or Metamask, or any other of your choice. Here, the verification typically contains your identification documents and address proofs. Once the account is created, it is important to note down the seed recovery phrase and keep it securely.

Step 3 – Now Deposit BEP-20 Tokens

PancakeSwap is built on Binance Smart Chain, which only supports BEP-20 tokens. To buy CAKE, you need to buy BEP-20 tokens so that you can swap them for CAKE. For example, you can buy Binance Coin (BNB) and then use those to buy or trade CAKE. Therefore, to purchase the token, you need to fund your account with BEP-20 tokens like BNB or IBAT.

Step 4: Connect your wallet to the exchange

Then you need to connect your personal wallet with a cryptocurrency exchange like Binance or WazirX.

Step 5: Swap BEP-20 Token with CAKE

Once it is done, you need to swap the amount of BNB or IBAT with CAKE. When you complete the transaction, CAKE will be in your personal wallet, and you are good to go.

Also read: PancakeSwap(CAKE) Price Prediction

Popular video guides on buying PancakeSwap (CAKE)

Also read: Check PancakeSwap Coin Prices Live

1. Binance

Header 1	Header 1
Operational Since	2017
Weekly Average Transaction Volume	$1.19B (As of 10/03/2023)
Deposit Methods	Credit/Debit Card, Bank Transfer, Crypto
Deposit Fees	None
Cryptos Listed	500+
Trading Fees	0.1% - 0.02%
Fiat Currencies Supported	USD, EUR, GBP, and more
Trustworthiness	Safe

2. Pancakeswap

Factsheet

Header 1	Header 1
Operational Since	2020
Weekly Average Transaction Volume	$6 billion
Deposit Methods	Credit Card/ Debit Card, bank transfer
Deposit Fees	There are no deposit fees
Cryptos Listed	Supports a huge range of cryptos, including Bitcoin, Ethereum and Binance Coin
Trading Fees	0.25% is charged on every transaction
Fiat Currencies Supported	Does not support Fiat currency
Trustworthiness	Safe

3. WazirX

Header 1	Header 1
Operational Since	8th March 2018
Weekly Average Transaction Volume	$1.19B (As of 10/03/2023)
Deposit Methods	Bank transfer, credit/debit card, IMPS, Neft, RTGS, UPI
Deposit Fees	None
Cryptos Listed	387
Trading Fees	0.2% trading fee for general users
Fiat Currencies Supported	USD, INR and others
Trustworthiness	Safe

Where can you buy PancakeSwap Coin with a credit or debit card?

Calculate your Profits

Calculate your tax liability

Frequently Asked Questions

Where can you buy PancakeSwap Coin with a credit or debit card?

Not all cryptocurrency exchanges allow you to buy CAKE using a debit card or credit card. But the best platforms are PancakeSwap, Binance, and WazirX. These platforms allow users to purchase BEP-20 tokens through a credit or debit card and swap them easily with CAKE. You can also use platforms like Kraken, Uphold, KuCoin, Gate.io, and Huobi Global.

What will you need to buy PancakeSwap Coin?

All you need are five basic things to buy PancakeSwap (CAKE) tokens. First, you need to set up a cryptocurrency wallet. The next step is to deposit BEP-20 tokens into that wallet. Then, go to the cryptocurrency exchange, which supports CAKE trading. Using credit or debit cards to purchase CAKE on the exchange, and lastly, the most important thing is knowledge of how to use a cryptocurrency exchange and the PancakeSwap platform.

Best wallets to store your PancakeSwap Coin (CAKE)

One should use hardware wallets like the Ledger Nano X and Trezor Model T to store PancakeSwap Coin (CAKE). The best part about these wallets is that they provide a high level of security and an extra layer of protection by keeping the private keys offline, which keeps them safe from hackers. Other than these, there are other software wallets like Trustwallet and Metamask, which you use for storing CAKE.