A Step-by-Step-Guide on how to buy PancakeSwap (CAKE)
Step 1 – Signup to Kraken You will first need to buy one of the bigger coins. Exchanges usually accept either Ethereum (ETH) or Bitcoin (BTC) in exchange for Altcoins. Follow the Link below for registration and getting ETH (Ethereum) or BTC (Bitcoin).
Step 2 – Transmit Your Ethereum or Bitcoin to an Exchange Your Bitcoin (BTC) or Ethereum (ETH) will need to be sent over to an Exchange now. Every exchange has a deposit form that is identical. PancakeSwap (CAKE) is obtainable on Binance, so we will use that as an sample. Unsure on how to send Coinbase funds to an Exchange? (Follow this manual) Make sure you have chosen the precise coin you would like to deposit. Bitcoin must be sent to a Bitcoin deposit address, Ethereum to an Ethereum deposit address, and so forth. In the case you are using a decentralized exchange, such as Airswap or DDEX could be divergent (Follow our how-to).
Step 3 – Find PancakeSwap (CAKE) Once your deposit has been confirmed, you'll instantly have access to your assets and you can initiate purchasing and trading. To invest in PancakeSwap (CAKE) on Binance, you'll want to hover over the ”Exchange” tab and mouse click on “Basic”. To spot PancakeSwap (CAKE), you'll need to insert the cointype (CAKE) into the search-box, which is highlighted in the picture. Be certain of having selected the correct pairing, we have highlighted this too. Click on “CAKE/BTC” to advance.
Step 4 – Buying PancakeSwap (CAKE) As soon as you have found PancakeSwap (CAKE), you will be presented with a Price Chart (in the Center of the image) and a few Order Books (on the Left of the image). Next we're going to create our own Limit Order. The field with the “Price” tag will be filled automatically with the most up-to-date price PancakeSwap (CAKE) was sold for. You can change this to your desired price. The field with the “Amount” tag is the volumen of CAKE you want to buy. The field with the “Total” tag is the total price in Bitcoin that you'll settle for the whole volumen of CAKE. When you are glad, click on “Buy CAKE”. Your order will be filled when a Seller trades their CAKE for the price you gave.
Step 5 – Withdraw PancakeSwap (CAKE) Unless you're trading, you should never keepyour coins on an Crypto Trader for an extended time period. In order to withdraw your PancakeSwap (CAKE), go to the ”Funds” tab and mouse click on “Withdraw”. PancakeSwap (CAKE) can be stored safely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide) Find PancakeSwap (CAKE) by using the given drop-down box. Drop in the amount of PancakeSwap (CAKE) you would like to withdraw. Take into account the demonstrated fees/minimums. Also make sure you have filled your precise withdraw address. When you're glad, click on “Submit”. You could be requested for phone/email verification before a take off.