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 Funds to an Cryptocurrency Exchange Your Bitcoin (BTC) or Ethereum (ETH) has to be sent over to an Cryptocurrency Exchange now. Every exchange has a deposit form that is identical. PancakeSwap (CAKE) is obtainable on Binance, so we're going to use that as an example. Unsure on how to send Coinbase funds to an Exchange? (Just follow this how-to) Make sure you have chosen the exact coin you want to deposit. Bitcoin must be sent to a BTC deposit address, Ethereum to an ETH deposit address, etc. In the case you are using a decentralized exchange, like Airswap or DDEX could be different (Just follow our guide).
Step 3 – Find PancakeSwap (CAKE) As soon as your deposit has been affirmed, you will instantly have access to your finances and you can begin purchasing and trading. To buy PancakeSwap (CAKE) on Binance, you'll want to hover over the ”Exchange” tab and after that mouse click on “Basic”. In order to spot PancakeSwap (CAKE), you'll need to insert the short name of the asset (CAKE) into the search box, which is marked in the image. Make sure you have choosen the proper grouping, we have marked this also. Click on “CAKE/BTC” to advance.
Step 4 – Acquisition of PancakeSwap (CAKE) After you've located PancakeSwap (CAKE), you'll be given a Price Chart (in the Center of the image) and a few Order Books (Leftside of the image). For now we're making our own Limit Order. The ”Price” field will be filled with the most latest valuation PancakeSwap (CAKE) was sold for. This can be changed to your preferred rate. The ”Amount” field is the amount of CAKE you want to purchase. The field with the “Total” tag is the whole price in Bitcoin that you will settle for the complete quantity of CAKE. If you're happy, click on “Buy CAKE”. Your order will be filled as soon as a Seller sells their CAKE for the price you submitted.
Step 5 – Withdraw PancakeSwap (CAKE) Unless you're regularly trading, never keep your crypto coins on an Exchange for an extensive period of time. In order to take off your PancakeSwap (CAKE), hover over the ”Funds” tab and click on “Withdraw”. PancakeSwap (CAKE) can be stored safely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Find PancakeSwap (CAKE) by using the given drop-down box. Enter the amount of PancakeSwap (CAKE) you would wish to withdraw. Take into account the demonstrated fees/minimums. Also make sure you have filled your correct withdraw address. When you are glad, click “Submit”. You could be asked for email/phone verification before a take off.