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How to buy PancakeSwap (CAKE) in the US

A beginner's guide to buying and selling CAKE in the US.

PancakeSwap
CAKE- USD
DECENTRALIZED-EXCHANGE
$14.73
-$0.14 (-0.92%)

How to buy PancakeSwap

Look for an exchange that supports both fiat and cryptocurrency to simplify buying PancakeSwap.

  1. Open an account on an exchange that supports CAKE.
    Jump to our table to compare popular options — just remember that most exchanges require an email address, phone number and proof of ID to register.
  2. Deposit funds into your account.
    Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy PancakeSwap.
  3. Buy PancakeSwap.
    Complete your PancakeSwap purchase and then find the best wallet to store CAKE.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

What is PancakeSwap?

PancakeSwap is a decentralized exchange that makes use of the Binance Smart Chain (BSC). Much like many of the other food-themed DeFi products in the market today — such as SushiSwap, Pickle Finance, etc. – it affords users the ability to farm tokens in exchange for liquidity. Also, it is worth emphasizing that since the project has been built atop BSC, users can only trade tokens, add liquidity and acquire incentives via BEP-20 complaint assets. CAKE is the native crypto of the PancakeSwap ecosystem, with its main goal being to incentivize liquidity providers. Even though the currency has no max supply cap, small sums are burned regularly, so as to reduce its overall supply pool (thus preventing their value from being diluted).

PancakeSwap (CAKE) is the 39th largest cryptocurrency in the world by market cap, valued at $2,979,288,928. The current price of PancakeSwap is $14.74, which is -1.841% lower than yesterday. Prices have ranged between $15.06 and $14.67 over the past 24 hours. All prices are listed in US dollars and accurate as of July 30, 2021 05:07 UTC.

Where to buy PancakeSwap

Find an exchange to buy, sell and trade CAKE by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Name Product Deposit methods Fiat Currencies Cryptocurrencies
Gate.io Cryptocurrency Exchange
Cryptocurrency
USD, EUR, GBP, HKD, SGD, AUD, CHF, MXN

267
cryptocurrencies

Finder exclusive: New users get $90 worth of Gate.IO points and an airdrop of $5 in random tokens if trade volume exceeds $100 in their first week. T&Cs apply.
A feature-rich exchange with over 700 tokens including derivatives, yield farming and lending products.
Crypto.com App
Credit card, Cryptocurrency, PayPal, TransferWise, SEPA
USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more

125
cryptocurrencies

Get 0% fees on credit/debit card purchases for 30 days after signup.
Buy 80+ cryptocurrencies, earn up to 8% on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
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PancakeSwap at a glance

Information last updated July 30, 2021 05:07 UTC.
Coin symbolCAKE
Circulating CAKE202,466,605
Current priceUS$14.74
All time highUS$43.96
All time high dateApril 30, 2021
IndustryAutomated market maker
Token usesStaking, rewards
NetworkBinance Smart Chain

PancakeSwap price performance over time

Historical prices compared with the price of US$14.74.

1 hour -0.85%
24 hours -1.84%
7 days 13.60%
14 days 5.06%
30 days 10.43%
60 days 0.22%
200 days 2,455.45%
1 yearN/A

How to sell PancakeSwap

You can cash out your CAKE with the same exchange you bought it through:

  1. Sign in to the exchange you have CAKE on.
    If you store your PancakeSwap in a digital wallet, compare crypto exchanges to sell it on.
  2. Place a sell order.
    Choose the amount of CAKE you'd like to sell.
  3. Complete your transaction.
    Confirm the sell price and fees and close your sale of PancakeSwap.

What to consider when buying PancakeSwap

Below are the aspects you should consider before investing in CAKE:
  • Operational framework: PancakeSwap employs an automated market maker (AMM) model instead of a traditional order book to allow users to trade assets. Additionally, to receive steady returns as well as a portion of future trading fees, users are required to deposit their funds in a set pool. Incentives are distributed in the form of CAKE tokens which can later be reimbursed in exchange for BETH as well as various other cryptos.
  • Recycled source code: It is not uncommon for many decentralized applications (dApps) to share the same source code with a few minor tweaks here and there. For example, SushiSwap is an out-and-out copy of the popular DeFi platform UniSwap. In the same vein, PancakeSwap is by and large a more refined iteration of SushiSwap, with the project featuring a similar UI and design scheme.
  • Interoperability: Since Binance Smart Chain (BSC) is compatible with the Ethereum Virtual Machine (EVM), it allows for all of the dApps that have been built atop it to be interoperable with a wide range of Ether-based wallets including MetaMask, MEW, etc.
  • Fee model: When making use of the platform, participants are required to pay a flat 0.2% fee as part of their individual transactions. Of this figure, 0.17% is set aside for liquidity providers with the remaining amount being burned by the protocol.
  • Novel product offerings: In addition to its various yield farming options, PancakeSwap also comes pre-built with a platform for Initial Farm Offerings (IFOs) as well as an NFT marketplace where users can buy/sell a wide range of tokenized assets including synthetic shares for assets like Tesla, Google, Netflix, etc.
Disclaimer: Cryptocurrencies, including PancakeSwap, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of CAKE is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the PancakeSwap or any other cryptocurrency discussed.

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