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 – Send Your Bitcoin or Ethereum to an Crypto Trader Your BTC (Bitcoin) or ETH (Ethereum) has to be sent over to an Exchange now. All exchanges have a deposit form that is alike. PancakeSwap (CAKE) is available on Binance, so we will use that as an example. Not sure on how to send Coinbase funds to an Crypto Trader? (Just follow this manual) Make sure you have selected the right coin you would like to deposit. BTC must be sent to a BTC deposit address, Ethereum to an ETH deposit address, and so on. In the case you're working with a decentralized exchange, such as Airswap or DDEX could be unlike (Just follow our manual).
Step 3 – Find PancakeSwap (CAKE) As soon as your deposit has been confirmed, you will instantly have access to your assets and you can launch buying and trading. To invest in PancakeSwap (CAKE) on Binance, you will want to go to the tab which is called “Exchange” and then mouse click on “Basic”. In order to find PancakeSwap (CAKE), you'll need to put the shortname of the coin (CAKE) into the search-box, which is marked in the image. Be certain of having choosen the right pairing, we've marked this also. Click on “CAKE/BTC” to proceed.
Step 4 – Buying PancakeSwap (CAKE) After you have discovered PancakeSwap (CAKE), you will be given a Price Chart (in the Center of the picture) and some Order Books (Leftside of the picture). And now we are going to create our own Limit Order. The field with the “Price” tag 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 volumen of CAKE you wish to purchase. The field with the “Total” tag is the aggregated price in BTC that you will settle for the whole volumen of CAKE. If you are happy, make a mouse click on “Buy CAKE”. Your plan will be filled as soon as a Vendor trades their CAKE for the price you offered.
Step 5 – Withdraw PancakeSwap (CAKE) Unless you're regularly trading, best advise is not to keep your crypto on an Exchange for an longer time period. In order to take off your PancakeSwap (CAKE), hover over the ”Funds” tab and mouse click on “Withdraw”. PancakeSwap (CAKE) can be stored securely using a Wallet, for instance MyEtherWallet. (MyEtherWallet Setup Guide) Find PancakeSwap (CAKE) by using the provided drop-down box. Drop in the quantity of PancakeSwap (CAKE) you would wish to take off. Take into account the displayed minimus/fees. Also make sure you have entered your correct withdraw address. If you're happy, click on “Submit”. You may be asked for verfication via email/phone before a take off.