Table of Contents
1. Choose a crypto exchange
First things first, you need an exchange that both has BakeryToken, and is trustworthy!
You can find our top 3 exchanges for buying BakeryToken here, alternatively you can also check our comparison of the best crypto exchanges in Australia if you’re generally interested in seeing which exchanges work for Australians.
2. Sign up with the crypto exchange
Once you’ve chosen your crypto exchange, it’s just a matter of signing up and getting your account verified. Most exchanges have streamlined this process very well so it shouldn’t take long.
3. Fund your account
The next step is to transfer AUD or another cryptocurrency into your account. Most top crypto exchanges offer various payment methods. From bank transfer to PayID, POLi pay and credit cards, it’s very straightforward.
4. Buy BakeryToken
And of course, the final step is to find BakeryToken on the exchange and buy it. A lot of exchanges offer different ways of buying cryptocurrencies, like market orders and limit orders.
Where to Buy BakeryToken (BAKE)
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How to Sell BakeryToken
- Sign into the exchange
- Find where you stored your BakeryToken, either on a hardware wallet or on the exchange.
- Transfer your BakeryToken to the right place on the exchange, it could just be the same wallet or a dedicated trading account.
- Sell BakeryToken.
Considerations when looking to buy BakeryToken.
BakeryToken (BAKE), which was launched in September 2020, is part of the BakerySwap eco-system. BAKE tokens are awarded to liquidity providers to help them earn a portion of BakerySwap trading fees. They can also be used to vote as part of BakerySwap governance.
BakerySwap, a decentralized automated market-making protocol (AMM), is built on the Binance Smart Chain. The native BEP-20 governance token, the BAKE token, is available on the platform.
BAKE tokens can be earned by users who provide liquidity on BakerySwap. BAKE holders have the option to use their tokens to vote in governance and receive transaction fees dividends. BAKE rewards can be found in multiple liquidity pools.
Bakery Swap runs are available on the Binance Smart Chain. BAKE-BNB pools are expected to offer ten times more rewards than other pools.
BakerySwap is a Binance Smart Chain-based AMM that offers liquidity pools for altcoins like LINK, DOT, and other. It works by using initial liquidity pools. BakerySwap offers two types of liquidity pools. One has BAKE rewards, the other does not. This is to make it easier for the community to create new liquidity pools.
BAKE rewards will only be available to designated pools. Based on the BAKE holders' value, each pool will have a different reward multiplier.
BakerySwap charges 0.3% for all trades and swaps. 0.25% goes to liquidity providers.
Liquidity providers receive liquidity pool tokens, which represent their share in each pool. These tokens allow them to earn a percentage of the fees collected by the pools for removing liquidity. To farm BAKE token rewards, liquidity providers can stake Bakery LP tokens.