How to Buy and Sell Pancakeswap (CAKE)

This token has a very unique tagline amongst investors: eat your cake and have it. Who doesn’t want to eat their cake and have it? Well, pancakeswap’s native token, CAKE (CRYPTO: CAKE), helps you do just that. PancakeSwap is a decentralized exchange (DEX), allowing investors to swap BEP-20 tokens. BEP-20 tokens are tokens built on top of the Binance Smart Chain that doesn’t have its own blockchain. Early investors in CAKE have been on a wild ride as the token has appreciated more than 30 folds in price in the past year. There are a number of reasons why cryptocurrency investors are looking at Cake right now, given the strong secular growth trend driving the decentralized finance (DeFi) space and PancakeSwap’s impressive user base—the largest for any decentralized application (dApp).

How to Buy and Sell Pancakeswap

Continue reading to learn how to buy and sell CAKE if you’re one of these savvy investors:

How to buy CAKE

CAKE is supported by the largest cryptocurrency exchange in the world, Binance. There are two ways to buy “CAKE.” The first is to buy CAKE with an established cryptocurrency, and the second is to use a credit or debit card. In both cases, all you have to do is choose a cryptocurrency wallet, fund your wallet with established crypto, place a buy order for CAKE, and there you have it. You just purchased CAKE. Now all you need to do is eat it literally but it’ll still be there, sitting pretty in your wallet. Easy peasy, yes? But I would still be breaking down these processes for ease of understanding.

1. Choose a cryptocurrency wallet

To choose a wallet, you have to consider compatibility and security. In terms of compatibility, the best wallet for CAKE is MetaMask. MetaMask was one of the first wallets to feature the token when it was created, and it allows Cake to be bought, sold, and traded at little cost. In terms of security, the Safepal S1 is the best wallet for Cake. It provides top-notch security for users, as it is a hardware wallet built to store cryptocurrencies offline, and it provides a level of accessibility that is unmatched. If you have to consider both compatibility and security, then Trust Wallet is the best, as it allows you to connect directly to PancakeSwap to buy, sell, and trade.

2. Fund your wallet with an established coin

Examples of established coins are BTC, ETH, and USDT. If you already have an established coin in your wallet, then you can skip this step. If you have an established coin in another wallet, you can transfer it to your trust wallet.

3. Buy Cake

After successfully transferring cryptocurrency to your Trust Wallet, you can connect to Pancakeswap and exchange the coin for CAKE tokens.

4. Keep your CAKE safe

Cryptocurrencies are usually stored in wallets. There are hot wallets and cold wallets. For ease of use, major cryptocurrency exchanges have their own wallets, so if you only have a small amount of crypto, it is preferable to leave your investment in your exchange account. But a digital wallet, which is a form of hot wallet, can offer more security if you want to move your crypto to a more secure storage facility. The best wallet for CAKE is the Trust Wallet. Trust wallet has a strong connection with the cryptocurrency exchange Binance, where PancakeSwap is hosted. Additionally, Trust Wallet allows you to connect directly to PancakeSwap to buy, sell, and trade CAKE.

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How to sell cake

The procedure for selling CAKE is very similar to that for purchasing it. Navigate to the “DEX” at the bottom of your wallet app, select the token you are swapping from under the “Swap” tab, which will be “CAKE”, select the stablecoin that you would like to swap to, and enter the amount, then press the “Swap” button and confirm. After your CAKE has been swapped for a stable coin, you can now send that stablecoin to your exchange and sell it.

Cake has the potential to make you a lot of money on PancakeSwap. While the platform is open to all types of exchanges, it is more welcoming to investors who hold CAKE, the platform’s native token. If you own Cake, you can benefit from general features such as investing in liquidity pools. You can also take advantage of exclusive features such as staking in SYRUP pools, farms, maximizing the prediction feature, and entering the lottery.

10 Trending Crypto Exchanges in 2021

Trends are born every few days in the world of cryptocurrency. Some crypto coins fall in price, some become more expensive. But in all of this fuss, it is vital to stick to the plan you have created and use reliable tools to make your financial operations.

On the one hand, some trends can be your friends rather than enemies. On the other hand, every popular method or tool should be viewed critically and analyzed. Still, the fashion for proven exchanges is good since it lets you choose a reliable tool in a minute and never regret using it.

The crazy popularity of exchanges like Coinbase, Kraken, and Binance makes the crypto world go round with thousands of transactions taking place every minute. So, this short read will enlist a few of the top exchanges for the end of 2021 to know which platforms you can confidently rely on.

First, we will describe 10 platforms on our top list. Let’s get started!

10 Trending Crypto Exchanges

1. Binance

This global crypto exchange is a leading service among low-fee platforms making crypto available for everyone. Its great plus for beginners is the intuitive interface and structure, allowing quick and efficient exchange with under 10,000 USD cost.

Binance can boast a choice of crypto coins. Its number in the domestic version exceeds 50 and is still growing. It seems like everything you can dream of in a crypto exchange is found on Binance. The only minus is that many US states currently do not allow their citizens to hold accounts on Binance.

2. Kraken

‘Low fees’ is the first thing that comes to mind of every Kraken enthusiast. And really, the maker fee at this service is very low and equals 0,16-0,26 % depending on the transaction. This makes the exchange a perfect choice for anyone buying crypto for individual use or business and orienting on bulk purchase.

This is also one of the first exchanges ever created in the history of cryptocurrency. It is super protected, has excellent cybersecurity safety records, and offers endless features for advanced users.

3. LetsExchange

This exchange is younger and, at first, may seem an unpretentious place. Until you find out it trades over 200 coins, calculates your profits, and never puts a limit on an exchange.

Starting level traders will appreciate the informative blog where relevant tips are regularly uploaded. For example, you can learn about the cryptocurrency list price or find out new trading strategies. Besides, a chart tool shows you the changes in the price of different crypto coins for the last 24 hours and the average profit received in this timeframe.

Plus, if you want to find the newest crypto coins and make, for example, XMR to PIVX exchange, this place will let it happen.

Other famous and reliable exchanges include:

4. com

Crypto.com exchange is also famous for a broad range of cryptocurrencies. Over 100 of them are available for trading, and it gives generous additional perks. In addition, the tool makes exchanges a funny game that you never want to quit!

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5. Gemini

The service resembles Coinbase in its ease of use and functionality. It is perfect for beginners, with low convenience fees and plenty of opportunities to trade different sums.

6. io

With fees a bit higher than on Kraken and a more complicated trading procedure, this tool is still valuable because of the abundance of new Altcoins that you can exchange here with no limits.

7. coin

This less famous tool allows you to buy all types of coins at a relatively low fee of 0,1%. Its special perk includes having 20% off the fee if you pay with Ku coin’s KCS stable coins.

8. Coinbase Exchange

The place remains the largest US-founded exchange with the most attractive features but higher than average fees.

9. Bitfinex

Finally, there is an advanced tool for those in trading for a long time with the option of margin trading and lending.

10. Luno

Luno is primarily attractive for its easy use, accessibility of all kinds of coins, and perks such as free crypto for inviting friends. Here you can trade on the run.

Conclusion

Many of these platforms remain the gold standard to other services. As a result, using them will increase the odds of successful and secure trades. But don’t rely just on exchanges – count on your strategy and knowledge of the market.

Where Can I Exchange COTI to CAKE Safely and Fast?

Investing in blockchain is not a walk on the park if you don’t know where to buy, sell, and convert your tokens. Are you looking for an excellent platform where you can convert COTI to CAKE safely and quickly? Find out how you can trade COTI for CAKE in this guide.

What is COTI?

COTI is an enterprise branding itself as a fintech project. Its main purpose is to an acceptable payment solution by digitizing any tokens and fiat currencies. This venture should minimize transaction fees and save time by performing quick transactions.

The project uses blockchain protocols to optimize decentralized payments. This functionality makes COTI user-friendly for DApps, governments, stable coin issuers, and merchants.

Where can I exchange COTI to CAKE

In an attempt to bring a change in the blockchain ecosystem, the COTI group launched COTI Pay. This app counters challenges and risks arising from using conventional financial services.

COTI is exceptional in the way it effortlessly creates time-saving fintech products using fewer data and money. As a result, you can optimize the platform and trade the stablecoin for other tokens. 

What is CAKE?

CAKE crypto is a decentralized native token fueling the PancakeSwap ecosystem since June 2019. Its main role was to generate liquidity and cash flow within the blockchain space. 

Though it is a DeFi project, CAKE operates on the Bitcoin network. The token circulates through proof of stake protocols and master nodes.

CAKE is an all-time crypto project for investors who want to make passive income. If you want to make passive income, here is a chance to trade in the PancakeSwap ecosystem. In addition, you can earn rewards by staking CAKE tokens –you will earn rewards for holding your assets on the platform. Consequently, many merchants use the platform to acquire higher rewards. Reasons you should invest in CAKE:

  • The platform is decentralized, making it easier to earn higher returns even when prices drop.
  • The site is transparent, thus allowing traders to analyze the software metrics on the public nodes and calculate rewards. 
  • You don’t have to worry about the safety of your assets, thanks to the enhanced safety features. 

Where to exchange COTI to CAKE quickly and safely

Here are the top three sites you should try to find favorable crypto exchange rankings and pairs for profitable COTI to CAKE investments. 

1. Binance

This exchange platform is popular for processing almost every crypto transaction. Unlike other exchanges, trading COTI for tokens like CAKE on Binance is quick and doesn’t incur a higher conversion fee. You are also guaranteed liquidity when trading on Binance, making buying, selling, and exchanging assets easier. 

2. KuCoin

KuCoin is a well-known competitive trading platform renowned for charging lower transaction fees safely. Since its inception, KuCoin has been providing secure and fast transactions for more than 200 tokens, including COTI. And the best thing about KuCoin is that you will find the newest cryptocurrencies listed on the platform. This gives you a chance to try investing in new assets. 

3. Gate.io

This exchange site guarantees safe, quick crypto transactions for new and experienced traders. In addition, traders can find a variety of altcoins on Gate.io, including a COTI to CAKE trading pair.