How to trade PancakeSwap?

What is PancakeSwap (CAKE)?

Why should I trade PancakeSwap?

  • PancakeSwap is the most famous DEX for trading BEP20 tokens. The platform provides favorable trading fees, as well as anonymous trading, which attracts many users.
  • Since the launch of the project, the value of the CAKE coin has increased by more than 9000%. According to the forecasts of DigitalCoin, CoinPrice, EconomyForecastAgency and others, by the end of 2021, the cost of one coin will reach an average of $24.
  • Binance — a reliable multilingual multifunctional exchange with support for a fiat gateway for some cryptocurrencies.
  • KuCoin — a well-known exchange with a large number of professional technical tools.
  • 7b — a secure broker with a user-friendly interface, transparent fees, and handy financial instruments.

How to trade PancakeSwap using the 7b crypto broker app?

  1. Log in to your 7b account.
  2. Transfer funds from your wallet to your 7b balance.
  3. Enter “CAKE” in the search bar.
  4. Enter the desired amount.
  5. Click the “Buy” button.
  6. Wait for the funds to be credited to your account.

PancakeSwap Exchange

Where to exchange CAKE?

Broker:

Swap platform:

  • CoinSpot — the platform was founded in 2013 and has been successfully functioning since then, providing the opportunity to exchange between more than 300 coins.
  • Changelly — launched in 2015, the platform provides instant exchange at a fixed or floating rate for more than 170 coins.
  • ChangeNOW — the platform provides the opportunity to exchange without registration. More than 170 coins are available.

What to know before exchanging PancakeSwap?

  1. Compare the exchange fee charged and choose the most profitable one.
  2. Compare exchange pairs. Perhaps the service does not support the one you need.
  3. Learn about the security and operation of the platform by studying user reviews.
  4. Carefully enter the wallet address. Remember, blockchain operations are irreversible.

How to buy PancakeSwap for fiat?

  1. Choose a fiat currency.
  2. Select CAKE from the list of cryptocurrencies.
  3. Enter the purchase amount.
  4. Carefully enter your CAKE recipient address.

PancakeSwap token use cases

  • Governance token. CAKE owners can vote for adding new tokens to create new liquidity pools.
  • CAKE is used to reward users for providing liquidity, as well as for passive earnings on farming abd staking.
  • LP (FLIP) token is provided to liquidity providers in exchange for their funds placed in the pool. LP tokens confirm the deposit of funds into the pool, reflect the share in the pool and remuneration is accrued on them.

FAQ

Is PancakeSwap a good investment?

How do I invest in PancakeSwap?

How to trade CAKE for beginners?

What is PancakeSwap Blockchain?

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Michael Selge

Michael Selge

Marketing manager of 7b crypto broker app