How To Buy CAKE (PancakeSwap) In Australia: Detailed Step By Step Guide

Are you pondering how to buy CAKE (PancakeSwap) in Australia? If yes then stick with this article. Before investing, you should know what the CAKE is. PancakeSwap is a type of blockchain token that is used for decentralized Cryptocurrency exchange and built on BSC(Binance Smart Chain).

PancakeSwap is an AMM( Automated market Maker) that provides a liquidity pool where you can earn interest by staking and lending. PancakeSwap is a BEP20 token and was launched in September 2020 by Anonymous. CAKE token is one of the many types of tokens used within PancakeSwap.

In this article, we will discuss how you can buy PancakeSwap in Australia along with the information regarding the benefits and risks entangled in the investment. So, without wasting any time let’s get started with the article.

Where To Buy CAKE (PancakeSwap) In Australia 

When it comes to choosing the right crypto exchange in Australia, it becomes to use an exchange that is compatible with all kinds of regulations in place by the Australian government. In this segment, we are sharing a list of crypto exchanges to assist you in the process. 

Binance Exchange

Binance is the market leader when it comes to the crypto trading exchanges and the fact that it regulates according to the Australian rules for crypto makes it an ideal exchange for those Australians who are willing to start investing and do not want to pay high fees.

Binance has its crypto along with native mobile applications for both Android and iOS. The web version of the exchange is also available and unleashes the true potential of advanced tools in the exchange.

Binance is one of the cheapest ways to buy cake tokens in Australia. Binance allows staking your token and supports a wide variety of tokens from all over the world and you can trade CAKE on Binance easily

Swyftx Exchange

Now comes the native Australian app for those Australians who want to use the exchange that has been built in their backyard. Based in Melbourne Swyftx is tailor-made for Australians as it operates within the native regulations.

Apart from, supporting almost all the stable coins and all the major blockchain projects, Swyftx also supports PancakeSwap and thus CAKE. If you are willing to start your crypto investment journey then Swyftx could be a user-friendly option to buy CAKE in Australia. 

Coinspot Exchange

Being one of the earliest crypto trading exchanges, Coinspot has become the center of trust for millions of traders from around the globe. Trading in up to 300+ currencies, Coinspot makes sure that all the traders are provided with their own choices to invest.

Coinspot offers trading in CAKE without charging a hefty fee and could be an ideal choice for those investors who want to buy CAKE tokens but do not want to go for Binance for some reason. It also supports transactions from credit cards and debit cards and allows its users to use advanced trading tools that are native to this exchange. 

Ways Of Buying CAKE (PancakeSwap) In Australia

There are a lot of ways to buy CAKE on various platforms but in this article, we are going to discuss two of the most prominent ways by which we can buy CAKE on international trading exchanges

Buy CAKE With Bank Transfer

One of the most convenient ways of transferring money over the internet is still bank transfers. If you are going to buy some of the CAKE tokens from any exchange that there should be the support of bank transfer so that you can always transact through one of the most reliable ways.

The centralized way of transferring money might not be the preference for those who are investing in decentralized finance but bank transfers are fast, universal, and one of the safest ways of transacting money over the internet.

Hence if you are thinking about buying CAKE in Australia then bank transfers can also assist you while filing your returns.

Buy CAKE With A Credit Card/Debit Card

Now comes our most popular and convenient way of transacting in the over-the-counter payments, our credit cards and debit cards. Credit cards and debit cards are one of the easiest ways of buying crypto from any trading exchange but the fact of the matter is that even some most famous exchanges do not support credit and debit cards.

Hence, if you are an aspiring crypto trader who wants to transfer funds using credit cards or debit cards then you must consider knowing this feature of the exchange while selecting one. Credit cards also increase your single-time purchasing power and allow you to take risks. 

CAKE (PancakeSwap) Price And Prediction

Predicting anything in the markets such as crypto is not possible due to the high volatility of the prices and a lot of other factors affecting the prices. Sudden trends and even a viral meme can change the course of the entire project. But knowing the different aspects of a crypto project might allow you to foresee a dip or a high in the prices. 

CAKE has made some big announcements this year which are helping the investors to show belief and hold the token after it slipped in its value in 2021.

Being one of the leading crypto tokens in the market, CAKE is supposed to rebound in the long run and could be an ideal choice for those investors who are willing to buy a stake and forget for a couple of years at least.

Benefits Of Buying CAKE (PancakeSwap) 

Knowing how to buy CAKE (PancakeSwap) in Australia offers several benefits. Even though each currency in the market has some benefits in its own domains, knowing particularly about the currency benefits that you are willing to trade in, allows you to evaluate a trade in a better way.

CAKE is one of those coins that are considered to be the cheapest when it comes to transactional fees in the market. Another key aspect is its commitment to the decentralized metaverse and hence it is predicted to boom in the latter part of the decade with a rise in the required platforms for such activities.

Another major aspect of benefits CAKE is that it has liquidity on the higher end which makes it one of the finest choices for long-term investments for Australians. 

Risks Of Buying CAKE (PancakeSwap) 

Even though the right background, smooth liquidity flow, loyal investors, and present market cap are on the right track for CAKE, there are a few things that can be considered to be called risk factors discussed in this segment of the article. 

One of the major risks involved in the CAKE is its back-end. CAKE tokens are based on Binance smart chain which was a great alternative to ETH when CAKE started. Now the scenarios are changing very fast, Binance smart chain is no more the cheapest in the market as better alternatives are available and thus this factor could be one of the risk factors involved while buying CAKE. 

How To Buy CAKE From Binance Exchange 

In this segment of the article, we are going to discuss how to buy CAKE in Australia from a suitable exchange as per your needs. Follow the steps mentioned below in the article and you would find the way to buy your first CAKE token with ease.

Choose An Exchange That Sells CAKE

There are many exchanges that are present in the market and choosing the right one could be very confusing as all seem to do the task of buying cryptos. But the things are not as simple as it seems, there are a few aspects in every crypto exchange that makes all the difference between a good exchange and a bad exchange.

To simplify the choice for our readers we are going to choose that exchange that is used by most people from around the globe, the Binance crypto exchange. Binance is one of those exchanges that are a complete package for those people who are choosing an exchange for a long-term trading plan. 

Create And Verify Account

Now when we finally selected the ideal trading exchange for buying CAKE we need to start with the process ahead. The first thing which we need to do is to register ourselves on Binance and create a trading account for crypto.

Once done you would be required to complete the KYC process by filling out the information requested by the exchange. After completing the identity verification from the home page choose a market option, and you will be taken to the exchange where you can see lots of coins listed

Fund Your Account

There is no use of a trading account with zero funds, hence adding them is the second step to moving forward. All you have to do is to follow the steps given below to make sure that you would face no hassle in the process. Having funds already in the wallet makes the transactions smooth and easy. 

The steps to add funds to your Binance account are:

1. Visit your Binance wallet and there select the funding option, now is the time to enter the amount in AUD to add them into the wallet
2. After selecting the amount move forward with the payment
3. Finish the transaction on the client-server
4. Once the transaction completes you would be able to see your funds in your wallet. 

Buy CAKE

Finally, the funds are added to your trading account and what is actually left is to buy some CAKE tokens to get moving forward with the process of investing in the long-term CAKE future. 

Follow the steps given below to buy CAKE from Binance

1. Search for the CAKE or PancakeSwap
2. Choose to buy now
3. Enter the number of coins that you want to buy from the exchange
4. Once done entering the amount, pay for the coins that you have chosen
5. As the funds are already in your wallet the CAKE tokens will be added to your account instantly. 

Best Wallet To Keep Your CAKE (PancakeSwap)

Once you have learned how to buy CAKE (PancakeSwap) in Australia, it’s time to put your private keys in the safest place possible as these are the only way by which you can prove your ownership over your blockchain assets. The best wallet to secure your crypto is none other than Trezor Model 1

Trezor Model 1

Trezor Model 1 is one of those wallets which can be called the pinnacle of security when it comes to the crypto token private keys. Trezor model one is a hardware wallet that ensures that all of your crypto token keys are stored in safe and offline storage.

It comes with network isolation and easy backup options. Hence if you are someone who is serious about the security of your crypto tokens then you can get Trezor Model One for only $140 AUD. 

How To Sell CAKE (PanCAKESwap)

Now when you have earned a profit on the present investments of CAKE and you want to cash these profits from CAKE to AUD then you would need to sell your tokens on Binance and cash out to AUD. To sell your CAKE and convert the CAKE to AUD, the process involved is fairly 

simple. 

1. Login into the Binance exchange
2. Go to my investment section
3. Find your investments, and select CAKE
4. Click on the button ‘Sell’
5. Enter the amount of CAKE that you want to sell 
6. Transfer coins to the blockchain and confirms transactional details

There you go, you just sold your CAKE on Binance and converted your CAKE to AUD. 

How To Buy CAKE (PancakeSwap) In Australia: Conclusion

CAKE is a strong currency that not only has solid back support but is also future-proof. When we talk about long-term investments then investing in cryptos is not the choice that is preferred by many traders due to the market volatility.

But CAKE is one of those currencies that has the potential to grow in the long term and thus buying it from a market leader such as Binance becomes crucial. CAKE is based on Binance smart change and thus Binance is likely to provide all the support CAKE needs in the future.

Hence if you are an Australian who is willing to buy CAKE then Binance would be the perfect choice for you. Hope this article will help you with the right information to regain how to buy CAKE in Australia.