How to Buy PancakeSwap (CAKE) in Australia

1. Choose a crypto exchange

First things first, you need an exchange that both has PancakeSwap, and is trustworthy!

You can find our top 3 exchanges for buying PancakeSwap here, alternatively you can also check our comparison of the best Australian cryptocurrency exchanges 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 PancakeSwap

And of course, the final step is to find PancakeSwap 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 PancakeSwap (CAKE)

ExchangeRatingAvailable CryptocurrenciesFeesVisit Site
Swyftx Logo5/5350+0.6%VISIT SITE
Binance Logo4.5/5300+0.1%VISIT SITE
Digital Surge Logo4/5200+VariesVISIT SITE

How to Sell PancakeSwap

  1. Sign into the exchange
  2. Find where you stored your PancakeSwap, either on a hardware wallet or on the exchange.
  3. Transfer your PancakeSwap to the right place on the exchange, it could just be the same wallet or a dedicated trading account.
  4. Sell PancakeSwap.
Businessman looking at crypto trend

Considerations when looking to buy PancakeSwap.

PancakeSwap -- an automated market maker (AMM), a decentralized finance application (DeFi), allows users to trade tokens. It provides liquidity via farming, and charges fees.

For more information about the project, please visit our deep dive on Pancakeswap.

It was launched in September 2020. This exchange is decentralized and allows users to swap BEP20 tokens on Binance Smart Chain. PancakeSwap employs an automated market maker model, where users trade against a liquidity group. Users deposit funds to the pool to receive liquidity provider tokens (LP).

These tokens can be later used to reclaim their part of the pool and a portion of trading fees. These LP tokens are called FLIP. PancakeSwap allows users to farm additional tokens like CAKE or SYRUP. Users can deposit LP tokens on the farm and be rewarded with CAKE

PancakeSwap lets users trade BEP20 tokens and earn fees. They can also stake LP tokens for CAKE.

PancakeSwap employs an automated market maker model. This means that there are no order book and instead liquidity pools are used. An individual can earn income by becoming an liquidity provider. By adding tokens to the liquidity pool, they can farm LP tokens or stake their CAKE to receive rewards. They can also gamble with non-fungible tokens and lotteries.

PancakeSwap token, CAKE, is a BEP20 token originally launched on Binance Smart Chain. CAKE's main purpose is to encourage liquidity provision to PancakeSwap.

To earn rewards, users can stake their tokens by depositing Liquidity provider tokens and locking them. This is called farming, and the system will reward you with CAKE tokens. You can use the tokens without any holding time and they can be used immediately. CAKE offers investors the chance to invest in the future and increases returns, but there are risks.

You can use CAKE to enter a PancakeSwap lottery. Each session of the lottery takes six hours. A single ticket costs 10 CAKE. It comes with a random combination consisting of four numbers between 1-14. The jackpot is equal to 50% of the total lottery pool. To win, your ticket must match the numbers on the winning ticket.

Non-fungible tokens can also be won by users that can either be traded for CAKE, or kept in a wallet.