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- 1. How & where to buy Pancakeswap (CAKE) online
- 2. How to buy Pancakeswap instantly in 3 simple steps
- 3. Where to buy CAKE easily
- 4. Best exchanges to buy Pancakeswap (CAKE), reviewed
- 5. How to trade CAKE
- 6. What is the best way to pay for Pancakeswap (CAKE)?
- 7. How do I store Pancakeswap (CAKE)?
- 8. Is Pancakeswap (CAKE) a good investment?
- 9. Is now a good time to buy Pancakeswap?
- 10. FAQs
How & where to buy Pancakeswap (CAKE) online
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Pancakeswap tokens are available on a cryptocurrency exchange, which functions similar to a stock trading platform. It takes just a few minutes to buy Pancakeswap this way. Follow our quick step guide below.
How to buy Pancakeswap instantly in 3 simple stepsCopy link to section
To buy Pancakeswap you need a smartphone or a computer and an internet connection. It takes 10-15 minutes the first time and you should have some photo ID to hand. Here’s how to do it.
Step 1. Sign up to BitvavoCopy link to section
Step 2. Make a depositCopy link to section
Add funds via a card payment, bank transfer or an alternative payment method. You can start with as little as £10.
Step 3. Buy Pancakeswap tokenCopy link to section
Type CAKE into the search box then click ‘trade’. Enter how much money you want to spend and hit ‘trade now’.
Now you own Pancakeswap tokens! It’s as simple as that.
Where to buy CAKE easilyCopy link to section
The overall best exchange to buy Pancakeswap token for beginners is Bitvavo . Pancakeswap is also available on lots of other cryptocurrency exchanges.
Here are the top three places to buy Pancakeswap, ranked according to their simplicity for beginners, fees, customer reviews, and safety ratings.
Read more about how we rate, rank and review platforms.
Best exchanges to buy Pancakeswap (CAKE), reviewedCopy link to section
How to trade CAKECopy link to section
You can trade Pancakeswap on a cryptocurrency exchange using a few simple steps. Here’s a quick example that clearly lays out how CAKE crypto trading works:
- Monitor the price: Let’s say the price of CAKE/USDT is $1. You read the price charts and decide that now is a good time to start purchasing CAKE.
- Open a trade: You trade one USDT for one CAKE ($1 for 1 CAKE).
- Continue to monitor the price: The next day, one CAKE token is now worth $2, a 100% increase.
- Close your trade: You trade your CAKE token back to USDT for $2.
In this example, you buy and sell Pancakeswap, doubling your money (trading). While the steps are simple, executing them in a profitable way is not so easy. You need to spend many hours learning to trade, reading charts, patterns, and understanding markets and margin trading; which you can do right here on Invezz.com.
What is the best way to pay for Pancakeswap (CAKE)?Copy link to section
The simplest way to buy Pancakeswap cryptocurrency is with your bank card. However, there are plenty of other options as well. Here are some of the top ways to pay for CAKE.
- Buy Pancakeswap with a credit card or debit card. Card payments are convenient and instantaneous but you may have to pay a higher fee to make a deposit this way. Binance charges 1.8% for a card deposit and some platforms charge as much as 4%.
- Buy Pancakeswap with bank transfer. A bank transfer is usually the cheapest way to buy crypto. Crypto platforms like Crypto.com and Coinbase do not charge for bank transfer deposits, while Binance only charges a £1 fee, and these transactions are more or less instant as they run through the Faster Payments System (FPS).
- Buy Pancakeswap with PayPal. Some crypto brokers accept deposits via PayPal. eToro is the best option because it doesn’t charge a fee for PayPal deposits, whereas the charge can be as high as 5% or more with other platforms.
- Alternative payment methods. Crypto brokers often let you pay with other providers or money transfer services, like Neteller, Venmo, or Payoneer. The options vary by broker, though, so check what’s accepted before you sign up.
How do I store Pancakeswap (CAKE)?Copy link to section
Most people keep their crypto on the exchange they used to buy it. If you only plan to hold onto it for a little while then that’s a perfectly acceptable option. If you want to hold it for years or you own a lot of Pancakeswap then you should move it to a crypto wallet.
A crypto exchange is similar to a bank account, in that it means trusting a company to protect your funds for you. A wallet is like your personal wallet, or a safe, where you take responsibility for it yourself. Two of the best Pancakeswap wallets to use are MetaMask and the Ledger Nano S.
Is Pancakeswap (CAKE) a good investment?Copy link to section
Whether it’s good for you depends on your goals and the fundamentals of the project. Here are some key features of Pancakeswap and its token to help you decide whether to invest in CAKE.
- It’s one of the largest decentralised exchanges. PancakeSwap launched itself into the top five decentralised exchanges in the world within a few months of launch. Usually, the coin’s prospects are tied to the success of the underlying platform, it has previously hit all-time highs during crypto bull runs when the total volume on the exchange is highest.
- You can stake CAKE tokens. You can use your CAKE tokens to earn staking rewards and passive income from a share of the fees generated on the exchange.
- Pancakeswap burns tokens. The platform periodically burns tokens, meaning fewer coins will be circulated. This will ultimately increase scarcity and price.
- CAKE tokens can be used for liquidity mining. Like staking rewards, you can earn additional income by providing liquidity to specific pools on the PancakeSwap exchange.
- The PancakeSwap exchange has low transaction fees. PancakeSwap runs on the Binance Smart Chain, which usually has lower fees than the Ethereum blockchain. This makes it a better option for investors and traders wanting to buy, sell, stake, and provide liquidity.
- Its price is linked to the popularity of the exchange. CAKE tokens will generally rise and fall in value in line with the popularity of the exchange. this means in times of high activity, CAKE tokens may increase, but in times of low activity, they may fall in value.
Use this quick summary of pros and cons to compare Pancakeswap with other, similar projects.
ProsCopy link to section
- Already one of the most popular exchange platforms
- Lots of opportunity to earn extra money from CAKE
- You can spend the coin on NFTs, lotteries, and many other features through PancakeSwap
Ultimately, many different factors play into the answer. Cryptocurrency is inherently volatile but you can reduce the risks by investing in quality projects that provide value to the community.
How has Pancakeswap (CAKE) performed this year?Copy link to section
The current Pancakeswap price today is $4.07, which is 90.76% below its all time high of $44.27, which it reached on 30 April, 2021. CAKE is up 29.59% this year, with a 52 week high of $10.99 and a 52 week low of $2.48.
Is now a good time to buy Pancakeswap?Copy link to section
The answer depends on the current price and your own investment goals. Put simply, buying Pancakeswap, selling Pancakeswap, and trading CAKE are all the exact same process. It’s really just your personal investing intentions that defines whether now is a good time to invest or not.
- If you’re a trader: as a cryptocurrency trader, your goal is to make money trading regularly. What do we mean by regularly? Hourly, daily, weekly. Traders buy and sell a coin quickly to secure their profit (or to avoid a loss). They don’t #hodl that coin long term in the hopes of larger profits. In this sense, any time is a good time to buy Pancakeswap.
- As a long-term investor: a long term investor is not concerned if the price is up or down 10% on any given day. Rather, they care that the price of the native token is overall up months or years later, when they’re ready to sell that investment. So if you’re a firm believer in the foundations of Pancakeswap and its decentralised aggregator platform, then a good time to purchase Pancakeswap is on any major dip.
In our experience, most newcomers to the crypto market sit between the two. You don’t want to wait several years for a return, but buying Pancakeswap and selling it the next day probably isn’t why you’re here either.
Regardless, closely following CAKE price news & analysis will help you decide when to pull the trigger:
Latest PancakeSwap newsCopy link to section
PancakeSwap community to vote on proposal for Sable Finance IFO
Google Cloud partnership ends PancakeSwap (CAKE) bear market
DEX volume in Uniswap, PancakeSwap, dYdX jumps after the SEC lawsuit
Is CAKE worth buying after DEX revealed a huge spike in TVL despite the bear market?
Top automated market maker tokens to end September with
FAQsCopy link to section
To create an account on any regulated cryptocurrency exchange, you will need:
- A mobile or laptop device
- An internet connection
- Email address and/or phone number
- Photo ID to verify the account
- A method to deposit & withdraw funds, like bank card or PayPal
As soon as you’ve set up an account, you can start buying Pancakeswap
No, PancakeSwap is not available on Coinbase.
Yes, you can buy CAKE tokens on Binance.
No, PancakeSwap is not on eToro. Although it may be added in the future, we recommend you check back regularly to see if it has been added.
You can store CAKE tokens on the PancakeSwap exchange or any exchange where you buy it. Alternatively, you can keep your CAKE tokens in a dedicated cryptocurrency wallet such as MetaMask and the Ledger Nano S.
Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >