Last update: Jun 6, 2022

How to Buy BakeryToken (BAKE)

Marco velaAuthor: Marco Vela - Fact-checked ✓

So you’re looking for a guide on how to buy BakeryToken. Depending on where you’re based, you’ll have various exchanges to choose from.

In this guide, we not only cover the top 3 global cryptocurrency exchanges, but also the best exchanges for Australia, Canada, and the UK.

Let’s get started!

Bakerytoken

How to Buy BakeryToken – 4 Easy Steps

1. Choose a crypto exchange

Finding a trading platform isn’t that hard. There are plenty of big players out there that have been around for quite some time.

This is where our comparison tables can help. The important factors to look for are fees, security, and if they have BakeryToken of course.

2. Sign up with the cryptocurrency exchange

Signing up with any of the major exchanges is generally very easy. The initial sign up should be very fast, and even the verification processes are very well set up these days.

3. Fund your account

Next, you would need to fund your account with either fiat money (USD, AUD, GBP, CAD, etc) or another cryptocurrency like BTC or ETH. This process should again be straightforward and easily done using one of the bigger crypto trading platforms.

4. Buy BakeryToken

Now that you have what you need to buy BakeryToken, head over to the market or buy section of the crypto exchange and buy some BAKE.

If the crypto exchange doesn’t have any BakeryToken on offer, for most cryptocurrencies you can buy Ethereum instead, transfer it to a decentralized exchange like Uniswap (check if Uniswap has BakeryToken first), and trade your Ethereum for BakeryToken.

Where to Buy BakeryToken (BAKE)

These are our top 3 exchanges based on the number of cryptocurrencies on offer, security, ease of use, and fees.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
BinanceUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
FtxUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX
Etoro logoUSD, GBP, AUD, EUR, and more50+credit card, skrill, paypal, bank transfer, and moreVisit eToro
Disclaimer: Cryptocurrencies are volatile and may involve a lot of risk. Their performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided.

How to Sell BakeryToken

  1. Sign into the cryptocurrency exchange where you bought BakeryToken.
  2. Move your BakeryToken to the right place on the cryptocurrency exchange. Some exchanges have trading accounts you need to use for buying and selling.
  3. Sell BakeryToken.

 

Crypto trading

How to Buy BakeryToken (BAKE) in Australia

Looking at Australian crypto exchanges, it's always good to check if the exchange is registrered with AUSTRAC (Australian Transaction Reports and Analysis Centre). In addition, it would be handy if the exchange has integrated with POLi pay and PayID for instant AUD deposits.

If you’re looking to buy BakeryToken in Australia, the process remains the same:

  1. Find a cryptocurrency trading platform below.
  2. Sign up for an account.
  3. Fund your account with AUD.
  4. Buy BakeryToken if it’s available. If the exchange doesn’t have BakeryToken. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has BakeryToken), and trade your ETH for BakeryToken.

You can also take a look at our analysis of the best places to buy crypto in Australia If you’re looking to learn more about which exchanges we prefer.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Swyftx logoAUD, NZD300+bank transfer, POLi pay, PayID, credit cardVisit Swyftx
Binance logoUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
Ftx logoUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX

How to Buy BakeryToken (BAKE) in Canada

When researching Canadian crypto exchanges, make sure they're registered with FinTRAC (Financial Transactions and Reports Analysis Centre of Canada) and ideally support Interac e-Transfer (in addition to wire transfer and maybe credit cards) for smooth CAD deposits.

If you’re looking to buy BakeryToken in Canada, the process remains the same:

  1. Find a crypto trading platform below.
  2. Sign up for an account.
  3. Fund your account with CAD.
  4. Buy BakeryToken if it’s available. If the exchange doesn’t have BakeryToken. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has BakeryToken), and trade your ETH for BakeryToken.

Also, check out our comparison of the cryptocurrency trading platforms in Canada if you’re curious to know more about which ones we prefer.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Bitbuy logoCAD15+Wire transfer, Interac e-TransferVisit Bitbuy
Coinberry logoCADBitcoin, Ethereum, Litecoin, BCH, XLMInterac e-Transfer, Wire transfer, Credit card, Debit cardVisit Coinberry
Ndax logoCADBitcoin, Ethereum, Litecoin, and 4 morewire transfer, Interac e-Transfer, Bank draftVisit ndax

How to Buy BakeryToken (BAKE) in the UK

We recommend only looking at UK cryptocurrency exchanges that are registered with the FCA (Financial Conduct Authority). As for GBP deposit methods, the top exchanges should support FPS transfers (Faster Payments Service) and ideally credit/debit cards.

If you’re looking to buy BakeryToken in the UK, the process remains the same:

  1. Find a cryptocurrency exchange below.
  2. Sign up for an account.
  3. Fund your account with GBP.
  4. Buy BakeryToken if it’s available. If the exchange doesn’t have BakeryToken. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has BakeryToken), and trade your ETH for BakeryToken.

It’s also possible to check out our comparison of the cheapest crypto exchanges in the UK for those interested in learning more about which ones we like.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Cex logoGBP, USD, EUR10+Bank transfer, credit card, debit cardVisit CEX
Coinjar logoGBP50+Bank Transfer (FPS), Visa, MastercardVisit Coinjar
Coinbase logoUSD, GBP, EUR150+Bank transfer (FPS), credit/debit cardVisit Coinbase

Cryptocurrency trading

Considering buying BakeryToken? BAKE Rundown

BakeryToken (BAKE), which was launched in September 2020, is part of the BakerySwap eco-system. BAKE tokens are awarded to liquidity providers to help them earn a portion of BakerySwap trading fees. They can also be used to vote as part of BakerySwap governance.

BakerySwap ( AM ) is a decentralized automated market making ( AMM ), protocol that is based upon the Binance Smart Chain. ( BSC). The native BEP-20 governance token, the BAKE token, is available on the platform.

BAKE tokens can be earned by users who provide liquidity on BakerySwap. BAKE holders have the option to use their tokens to vote in governance and receive transaction fees dividends. BAKE rewards can be found in multiple liquidity pools.

Bakery Swap runs are available on the Binance Smart Chain. BAKE-BNB pools are expected to offer ten times more rewards than other pools.

BakerySwap is a Binance Smart Chain-based AMM that offers liquidity pools for altcoins like LINK, DOT, and other. It works by using initial liquidity pools. BakerySwap offers two types of liquidity pools. One has BAKE rewards, the other does not. This is to make it easier for the community to create new liquidity pools.

BAKE rewards will only be available to designated pools. Based on the BAKE holders' value, each pool will have a different reward multiplier.

BakerySwap charges 0.3% for all trades and swaps. 0.25% goes to liquidity providers.

Liquidity providers receive liquidity pool tokens, which represent their share in each pool. These tokens allow them to earn a percentage of the fees collected by the pools for removing liquidity. To farm BAKE token rewards, liquidity providers can stake Bakery LP tokens.

Related:

author Marco Vela

A crypto obssessed digital marketer passionate about making a difference in the world. When he's not behind the computer he can be found hiking, camping and relaxing with his dog.