How to buy Pancakeswap (CAKE) UK
PancakeSwap (CAKE) Price GBP
Current Price: £7.94 24hr: -6.88%
CAKE is the native currency of PancakeSwap. Since it runs on Binance Chain, the best way to buy it is on Binance itself. Alternatively, you can also buy CAKE on Gate, Bithumb, or even swap it on PancakeSwap itself.
PancakeSwap has been gaining popularity ever since early 2021. It is a decentralized exchange on Binance Smart Chain and its native currency CAKE, has been one of the highest performing currencies among DeFi projects.
PancakeSwap is quite similar to SushiSwap and UniSwap on the Ethereum blockchain. But when the Ethereum blockchain clogged up and transaction prices soared, PancakeSwap looked extremely attractive. Since Binance Chain is a Proof-of-Stake (PoS) network, it keeps transaction prices extremely low and favorable for DeFi Transactions.
Along with a Decentralised Exchange, PancakeSwap is also popular for Yield Farming. Check out our complete guide here.
Where to buy PancakeSwap (CAKE) UK
While PancakeSwap is incredibly popular, very few exchanges support its native currency CAKE. Since it runs on Binance Chain, most third-party exchanges are reluctant to start using it. So the best way to buy CAKE is from Binance itself.
Other exchanges that list CAKE are Gate.io and Bithumb. These exchanges also directly support Binance Chain for withdrawal.
Alternatively, you can trade CAKE on PancakeSwap with any supported BSC-20 token.
Buy CAKE on Binance
Binance is by far the best way to buy CAKE. More than 50% of CAKE’s trading volume comes from Binance, and it offers multiple convenient trading pairs. So you can directly convert your cryptocurrencies to CAKE, or even use your credit card and debit card.
4. Under Buy, set the amount of CAKE you want to buy and the price you want to buy it for. You’ll have the CAKE in your account once your order has been filled.
Buy CAKE on PancakeSwap
PancakeSwap itself is a decentralized exchange. So you can buy CAKE among other cryptocurrencies over there. The first step is to set up your wallet to interact with PancakeSwap. If you’ve already done it, go ahead to the next section.
MetaMask for PancakeSwap
We’ll be setting up MetaMask for PancakeSwap in this guide. MetaMask is a browser-based wallet to interact with various dApps. By default, it only supports Ethereum Blockchain and ERC-20 tokens. Since PanakeSwap runs on Binance Chain, we need to configure that first.
Block Explorer URL: https://bscscan.com
That’s it! You now have a fully functioning Binance Chain wallet that can interact with PancakeSwap and other dApps. You can withdraw cryptocurrencies from Binance and other exchanges using the Binance network to load up the wallet.
Buying CAKE on PancakeSwap
Once you have the wallet setup and funds ready, you can finally use PancakeSwap.
8. After you hit confirm, it will take a few seconds for the transaction to go through. You should soon see CAKE in your MetaMask wallet.
If you’re further interested in PancakeSwap, check out our detailed guide on Yield-Farming and Pools.