The PancakeSwap platform is a decentralized exchange that was launched in September 2020. The native token on this DEX is Pancake (CAKE).
Prior to March 2018, PANCAKESWAP was known as Pancake Bunny. It was created by anonymous developers who launched the platform on the Binance Smart Chain blockchain. Since then, it has become one of the biggest decentralized finance (DeFi) platforms in terms of liquidity and trading volume.
How to Buy PANCAKE – Step By Step Guide
The PancakeSwap protocol works by allowing users to provide liquidity to one or more pools on the exchange In this guide, we’ll explain how you can buy PANCAKE (CAKE) cryptocurrency from leading exchanges.
Step 1: Get Started With Bitcoin
Before you can purchase Altcoins, you should first get acquainted with established cryptocurrencies like Bitcoin and Ethereum so you get an idea of how the crypto world works.
Step 2: Find an Exchange
Next, you need to find an exchange that supports the Altcoin you want. The most popular exchange is Bittrex, however, it does not support fiat (USD, EUR) trading.
Step 3 Activate two-factor authentication (2FA)
You will now be requested to input your phone number for two-factor authentication if you established your account with an email address (2FA). This is what protects your account’s safety and security. To proceed, input your phone number, hit “Send Code,” and then enter the code received by SMS.
Step 4: Buy Bitcoin or Ether
The initial step is to purchase Bitcoin (BTC) or Ether (ETH) from a cryptocurrency exchange. There are several exchanges you might utilise, like as Binance, Coinbase, Robinhood, and others.
Step 5: Buy PANCAKE with your bitcoin.
Transfer your BTC or Ether to your wallet, or buy PANCAKE right now if it is available on the same exchange. That’s all there is to it; you now have PANCAKE Crypto in your possession.
