How to buy Pancakeswap (CAKE) UK

PancakeSwap (CAKE) Price GBP

Current Price: £1.78 24hr: -3.21%

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 UK
Buy CAKE on Binance
Buy CAKE on PancakeSwap

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.

1. Sign up for an account on Binance and verify your identity.

2. For this example, we’re going to buy CAKE with USDT. Select “Trade” at the top and then “Classic.”

3. Over here, search for the CAKE/USDT trading pair.

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.

If for some reason, you’re unable to use Binance, you can also get CAKE from Gate.io and Bithumb.

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.

1. Download MetaMask for Google Chrome.

2. The initial setup is straightforward like any other wallet. Set a password and make a note of your backup phrase. Now it is ready to be used with Ethereum Chain. We need to configure it for Binance Chain.

3. On MetaMask, click on your wallet and then settings. Scroll down to Networks, and select “Add Network.”

4. Fill in the following details:

Network Name: Smart Chain

New RPC URL: https://bsc-dataseed.binance.org/

ChainID: 56

Symbol: BNB

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.

1. Head over to PancakeSwap.

2. Click connect at the top-right corner and select MetaMask.

3. Enter the password for your MetaMask wallet to unlock it and use it with the site.

4. On the left, select Trade and then Exchange.

5. You can now instantly swap any BSC20 token for CAKE.

6. Select the cryptocurrency you currently hold that you want to sell for cake and hit swap.

7. Once again, you’ll get a pop-up from MetaMask to confirm the transaction along with the fee.

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.