Where & How to Buy PancakeSwap (CAKE) for Beginners in 2025

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PancakeSwap coins are not easily available to buy via cryptocurrency exchanges. A lot of altcoins exist only in the peer-2-peer market (P2P), where you use a ‘decentralized crypto exchange’ to get your hands on PancakeSwap.

These exchanges function similar to a physical marketplace, where people go to trade things with each other.

You can’t really ‘buy’ PancakeSwap with US dollars. Altcoins like this are only traded for other cryptocurrencies, such as USDT, Ethereum, Solana, or Binance Coin, in a process that’s commonly referred to as a ‘swap’ or ‘swapping’.

This means that to purchase PancakeSwap you need to first own another crypto, like USDT or Ethereum, to swap for CAKE.

Don’t worry, it sounds complicated at first, but once you’re set up and you’ve done it a few times it’s a fairly quick process. Use the guide below to learn how to swap USDT for CAKE.

How to buy PancakeSwap in 4 steps

To buy PancakeSwap you need a smartphone or a computer and an internet connection. It can take up to an hour the first time and you should have some photo ID to hand.

For the purposes of this guide, we’ll use USDT in all our examples as it mirrors the US dollar and keeps things simple for beginners. Here’s how to do it:

Step 1. Sign up to a crypto platform

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We’ve ranked Coinbase as the best crypto platform to get started with. We chose this because the exchange lets you buy and withdraw USDT, Ethereum, Solana, Binance Coin, and more, which you may need for this process.

Coinbase has lots of other coins available and is one of the best known crypto exchanges around. Alternatively, there are several other options to select from below. Anyway, create an account and supply a copy of your photo ID for verification.

You then need to fund your account using a bank transfer, credit/debit card or method of your choice. Once funded, you can purchase the altcoin you’ll be using to swap for CAKE later, for example, USDT.

We found 5 crypto platforms for users based in

Sort by Recommended Minimum Deposit Safest Platforms User Rating

4.2

Coinbase

Min. Deposit $10

Fees Up to 0.6%

No. assets 150+

Demo account No

Visit site

Coinbase review

4.3

Uphold

Min. Deposit $1

Fees $0.99

No. assets 250+

Demo account Yes

Visit site

Uphold review

Terms Apply. Cryptoassets are highly volatile. Your capital is at risk.

4.2

KuCoin

Min. Deposit n/a

Fees –

No. assets n/a

Demo account No

Visit site

KuCoin review

Step 2. Transfer USDT to a crypto wallet

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Once you have your USDT you will need to transfer it to a crypto wallet. There are lots of wallets to choose from but the best option is MetaMask. You can use the app on your phone, or right from your web browser using a Google Chrome extension.

When you transfer your USDT you will need your unique wallet address. Wallets are like bank accounts for cryptocurrencies, and unique addresses are like account numbers. The image below shows you where you can find your wallet address in MetaMask.

Once you have your address, head to USDT on your exchange and ‘withdraw’, following the process for withdrawal to your wallet address.

Step 3. Connect your wallet to a DEX

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To add another layer of complexity, there are quite a lot of decentralized exchanges available and they don’t all allow you to swap any altcoin.

CAKE is only going to be available on some of them, however most altcoins are available to swap Uniswap. Head to the Uniswap home page and click the pink button in the top right corner which says ‘launch app’.

Now, in the same corner click on ‘connect wallet’ and you’ll be given a selection of wallets to choose from. Click on MetaMask and hit connect.

You will now be able to access your USDT in Uniswap.

Step 4. Swap USDT for CAKE

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With your wallet now connected, you’re now set up and can transact anytime you wish.

Select USDT from the first drop down list. In the second drop down you need to choose CAKE. Finally enter the amount of USDT you want to spend and the platform will show you exactly how much CAKE coins you will be able to get. If you’re happy with the amount, execute your trade.

That’s all there is to the process! Although it seems strange at first, every crypto investor has to follow these steps at some point if they want to own upcoming altcoins.

Now you own PancakeSwap tokens! Not a big deal, right?

Read more about how we rate, rank and review platforms.

Best exchanges to get started, reviewed

As explained above, you have a selection of platforms to use as an onramp to the altcoin market. Any of the following apps are perfectly fine places to buy cryptocurrencies such as USDT, Ethereum, Solana, and Binance Coin.

1. Coinbase. Best secure trading platform for all types of trader

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4

Ratings

$10

Min. deposit

Up to 0.6%

Fees

200

No. assets

No

Demo account

Overview

We love Coinbase because it’s the leading public crypto platform. Coinbase offers more than 170 cryptocurrencies to trade, a secure wallet to store your coins in, and automatic staking rewards on 10+ cryptos through Coinbase Earn.

Coinbase’s user-friendly platform simplifies the buying, selling, and trading processes, making it one of the top crypto exchanges for all levels of trader. But, Coinbase isn’t just an easy to use platform, it’s one of the safest and most secure. 

A public company brings transparency and renown, so you can trust that any money on Coinbase is safe and you’re sharing the platform with over 100 million other users. It stores 98% of customer assets offline in cold storage, minimizing the risk of theft. There is also insurance on all cash balances up to $250,000

The fees: Trading fees start from 0.6% but reduce the higher your trading volume. Bank transfer deposits and withdrawals are free, other payment methods may be charged. There is no fee for wallet-to-wallet crypto transactions but you will have to pay blockchain fees. Coinbase charges a 25% fee for its staking services.

Highlights

No. of tradable assets	150+
Min. Deposit	$10
ID verification required	Yes
Free demo account	No
Supported assets	Crypto, NFTs
Mobile trading app	Yes
Web trading platform	Yes
Regulatory bodies	FSA, FCA, NFA

Fees & Costs

Trading fees	Yes
Inactivity fees	No
Rollover/overnight fees	No
Withdrawal fees	Yes
Spreads	Yes
Conversion fees	Yes

Pros & Cons

Simple and easy to use interface Able to buy cryptocurrencies instantly with a credit or debit card Offers great security on its wallet Can use a variety of payment methods

Quite high fees for credit and debit card instant buys Poor customer support

Read review Visit Coinbase

2. Uphold. Best for building long term wealth

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4

Ratings

$1

Min. deposit

$0.99

Fees

300

No. assets

Yes

Demo account

Overview

We love Uphold because it’s a regulated and transparent digital asset platform. Uphold is an excellent platform for discovering important new tokens early, making it ideal for investors looking to get in on the ground floor of emerging cryptocurrencies. 

Uphold offers a broad selection of coins, with over 250 tokens available catering to both seasoned and novice crypto traders. The platform regularly adds new assets allowing users to invest in promising projects before they gain mainstream attention. 

Uphold isn’t just a platform for investing early. One of the main advantages of using Uphold is its transparent and competitive fee structure. The platform does not charge for deposits or withdrawals, and trading fees are clearly stated. You can also trade between different asset classes including fiat currencies. 

The fees: Crypto spreads start from 0.9% and are usually lower than 1.3% for BTC and ETH. Other cryptocurrency spreads are higher. Average spreads on fiat currency are 0.2%. There is a $0.99 fee for transactions under $100 made with the Uphold card.

Highlights

No. of tradable assets	250+
Min. Deposit	$1
ID verification required	Yes
Free demo account	Yes
Supported assets	Crypto, Commodities,
Mobile trading app	Yes
Web trading platform	Yes
Regulatory bodies	FSA, FinCEN

Fees & Costs

Trading fees	No
Inactivity fees	No
Rollover/overnight fees	Yes
Withdrawal fees	No
Spreads	Yes
Conversion fees	Yes

Pros & Cons

Wide range of cryptocurrencies available Zero deposit and withdrawal fees Crypto wallets to store your coins Low minimum deposits and fast account set up

Spreads can be high for some cryptocurrencies Services vary depending on region Customer support is limited

Read review Visit

Terms Apply. Cryptoassets are highly volatile. Your capital is at risk.

3. KuCoin. Best social trading altcoin exchange

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4

Ratings

$-

Min. deposit

…

Fees

–

No. assets

No

Demo account

Overview

We love KuCoin because it’s a great place for beginners to trade more than 700 altcoins. Kucoin offers a vast range of cryptocurrencies including all the big names like Bitcoin and Ethereum, together with hundreds of altcoins and newly released tokens. 

The exchange gives you multiple ways to trade and invest in crypto, including spot trading, futures trading, margin trading, and staking. This choice allows you to choose the method that best suits your trading strategies and risk tolerance. 

Kucoin is a top platform for both beginners and experienced traders. Its intuitive interface is easy to get to grips with and its advanced trading features mean even high volume traders can make use of it. Kucoin also offers an earn feature, where you can generate passive income through staking and lending, making it one of the best all round crypto exchanges. 

The fees: Trading fees are charged on a sliding scale. Fees are 0.1% on trading volumes below 50 BTC in a 30 day period. Discounts are available if you pay fees in KCS or store more than 1000 KCS in your account.

Highlights

No. of tradable assets
Min. Deposit
ID verification required	No
Free demo account	No
Supported assets
Mobile trading app	No
Web trading platform	No
Regulatory bodies

Pros & Cons

Anonymous trading with up to 2 BTC withdrawals/24 hours Wide variety of cryptocurrencies No deposit fees

Low trading volumes not suitable for big traders Doesn’t support U.S. customers You might experience delays and lags during high-traffic times.

Read review Visit KuCoin

How to trade CAKE

You can trade PancakeSwap on a decentralized cryptocurrency exchange using a few simple steps. Here’s a quick example that clearly lays out how CAKE crypto trading works:

1. Monitor the price: For simplicity, 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.
2. Open a trade: You trade one USDT for one CAKE ($1 USD for 1 CAKE).
3. Continue to monitor the price: The following month, one CAKE token is now worth $2, a 100% increase.
4. 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 countless hours learning to trade, reading charts, technical 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)?

Because you can’t buy PancakeSwap using fiat currencies like US dollars, the simplest way to buy PancakeSwap cryptocurrency is by swapping an altcoin for it. Here are some of the top ways to pay for altcoins:

• Buy altcoins 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 altcoins 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 Automated Clearing House (ACH) in the US, Faster Payments System (FPS) in the UK, or Single Euro Payments Area (SEPA) in Europe.

• Buy altcoins with PayPal. Some crypto brokers accept deposits via PayPal. Not many exchanges offer this option, however you can find here the best crypto exchanges that accept PayPal.

• 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)?

You can keep your PancakeSwap stored perfectly safely on MetaMask. If you’ve followed this guide, you won’t need to set up anything additionally as you’ll already have your coins in the MetaMask wallet.

Is now a good time to buy PancakeSwap?

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 in literal terms. 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 a coin long term in the hopes of larger profits. In this sense, any time is a good time to trade 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 CAKE, 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.

How has PancakeSwap (CAKE) performed this year?

The current PancakeSwap price today is $3.96, which is -91.04% versus its all time high of $44.18, which it reached on 30 April 2021. CAKE is +64.52% this year, with a 52 week high of $5.22 and a 52 week low of $1.22. 

Regardless, closely following PancakeSwap price news & analysis will help you decide when to pull the trigger.

Is Pancakeswap (CAKE) a good investment?

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.

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.

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