Last update: Jun 6, 2022

How to Buy PancakeSwap (CAKE)

Marco velaAuthor: Marco Vela - Fact-checked ✓

So you’re looking for a guide on how to buy PancakeSwap. Depending on your country, you’ll have different cryptocurrency trading platforms to choose from.

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

Let’s get started!

Pancakeswap

How to Buy PancakeSwap – 4 Easy Steps

1. Choose a cryptocurrency exchange

Finding a cryptocurrency 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 PancakeSwap of course.

2. Sign up with the crypto 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 cryptocurrency exchanges.

4. Buy PancakeSwap

Now that you have what you need to buy PancakeSwap, head over to the market or buy section of the crypto trading platform and buy some CAKE.

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

Where to Buy PancakeSwap (CAKE)

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 PancakeSwap

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

 

Crypto trading

How to Buy PancakeSwap (CAKE) 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 PancakeSwap in Australia, the process remains the same:

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

Alternatively, if you want to know more about the exchanges we prefer, read our comparison of the bitcoin exchanges in Australia.

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 PancakeSwap (CAKE) 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 PancakeSwap in Canada, the process remains the same:

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

It’s also possible to take a look at our analysis of the best places to buy crypto in Canada If you’re interested in learning more about which exchanges 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 PancakeSwap (CAKE) 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 PancakeSwap in the UK, the process remains the same:

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

Also, take a look at our analysis of the top 10 crypto exchanges in the UK for those curious to know 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 PancakeSwap? CAKE Rundown

PancakeSwap -- an automated market maker (AMM), a decentralized finance application (DeFi) that allows users to trade tokens and provide liquidity via farming, as well as earning fees in return.

It was launched in September 2020. This exchange is decentralized and allows users to swap BEP20 tokens on Binance Smart Chain. PancakeSwap employs an automated market maker model, where users trade against a liquidity group. Users deposit funds to the pool and then receive liquidity provider tokens (LP).

These tokens can be later used to reclaim their part of the pool and a portion of trading fees. These LP tokens are called FLIP. PancakeSwap allows users to farm additional tokens like CAKE or SYRUP. Users can deposit LP tokens on the farm and be rewarded with CAKE

PancakeSwap lets users trade BEP20 tokens and earn fees. They can also stake LP tokens for CAKE.

PancakeSwap employs an automated market maker model. This means that there are no order book and instead liquidity pools are used. An individual can earn income by becoming an liquidity provider. By adding tokens to the liquidity pool, they can farm LP tokens or stake their CAKE to receive rewards. They can also gamble with non-fungible tokens and lotteries.

PancakeSwap token, CAKE, is a BEP20 token originally launched on Binance Smart Chain. CAKE's main purpose is to encourage liquidity provision to PancakeSwap.

To earn rewards, users can stake their tokens by depositing Liquidity provider tokens and locking them. This is called farming, and the system will reward you with CAKE tokens. You can use the tokens without any holding time and they can be used immediately. CAKE offers investors the chance to invest in the future and increases returns, but there are risks.

You can use CAKE to enter a PancakeSwap lottery. Each session of the lottery takes six hours. A single ticket costs 10 CAKE. It comes with a random combination consisting of four numbers between 1-14. The jackpot is equal to 50% of the total lottery pool. To win, your ticket must match the winning ticket's four numbers.

Non-fungible tokens can also be won by users that can either be traded for CAKE, or kept in a wallet.

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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.