
Find out how to buy PancakeSwap and other cryptocurrencies on Crypto.com.
PancakeSwap is a decentralised exchange (DEX) operating on the BNB Chain and utilising an Automated Market Maker (AMM) model to facilitate the trading of BEP-20 tokens without the need for a traditional order book. Launched in September 2020, the platform allows users to swap tokens, provide liquidity, and participate in various decentralised finance (DeFi) activities. The native token, CAKE, serves multiple functions within the ecosystem, including governance, staking, and as a reward mechanism for liquidity providers. Users can stake CAKE in ‘Syrup Pools’ to earn additional tokens or participate in yield farming by providing liquidity to specific pools. PancakeSwap has expanded its reach by integrating with multiple blockchain networks, enhancing its accessibility and user base. The platform’s design emphasises low transaction fees and high-speed trading, contributing to its popularity amongst DeFi enthusiasts. Through its comprehensive suite of features, PancakeSwap aims to provide a user-friendly and efficient environment for decentralised trading and asset management.
Download the App and start the sign-up process. Users need a valid ID and may be asked for proof of address in order to transact, so be sure to have those ready. Verifying the ID may take longer than a few minutes, depending on where you live.
Tap on the payment method box and connect a payment method. Users can use a bank account, debit card, or initiate a wire.
On Crypto.com, select Buy & Sell. In the Crypto.com App, tap the ( + ) Buy on the Home tab.
On Crypto.com, click the Buy panel to search and select PancakeSwap. In the Crypto.com mobile App, search for PancakeSwap by typing ‘PancakeSwap’ into the search bar. When PancakeSwap appears in the results, tap it to open up the purchase screen.
Use the number pad to input the amount in local currency to spend. The App will automatically convert that into a PancakeSwap amount. Users can tap the arrow buttons to the right of the dollar amount to switch the number to the equivalent amount of PancakeSwap.
Tap ‘Buy’ on the Crypto.com App home screen.
Select PancakeSwap.
Under Cash, select Add Payment Method.
Follow the on-screen instructions and add your card information.
Select your desired purchase amount.
Under ‘Cash’, select the newly added card.
Confirm the transaction with a passcode or biometric verification.
Adding Apple Pay or Google Pay as a payment method is very similar to adding a credit or debit card:
Tap ‘Buy’ on the Crypto.com App home screen.
Select PancakeSwap.
Under ‘Cash’, select Apple Pay or Google Pay, and tap ‘Buy’ again.
Review the transaction details and tap ‘Continue’.
Confirm the transaction with a passcode or biometric verification.
Another decision to make when buying PancakeSwap is how it will be stored. Cold wallets (also known as hardware wallets) are physical, offline devices that hold the private keys used to access the cryptocurrency. They are not vulnerable to software attacks but may not be suitable for beginners. Learn more about the pros and cons of hardware wallets and how to choose the right one here.Hot wallets are connected to the internet, making the user’s cryptocurrency more accessible on a daily basis, whether for spending or trading. Security, regulatory compliance, and privacy should be top of mind when deciding on a hot wallet, like the Crypto.com App, the industry leader in security.Crypto.com is the first cryptocurrency company in the world to obtain several independently assessed certifications. The company has also released its Proof of Reserves (PoR), which is a way to ensure that a platform holds enough assets to cover all of its client balances. The PoR was conducted and certified by an independent auditor to ensure the integrity and anonymity of the entire process. Crypto.com’s users can view the PoR report and verify their funds.
After buying PancakeSwap, Crypto.com App users always have the option to sell it for other cryptocurrencies or fiat currencies. Here’s how to sell PancakeSwap:1. Tap ‘Sell‘ on the Crypto.com App home screen.2. Under Crypto, select PancakeSwap to buy and tap ‘Sell’ again.3. Review the transaction details and tap ‘Continue’.4. Confirm the transaction with a passcode or biometric verification.
All examples listed in this article are for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, cybersecurity, or other advice. Nothing contained herein shall constitute a solicitation, recommendation, endorsement, or offer by Crypto.com to invest, buy, or sell any coins, tokens, or other crypto assets. Returns on the buying and selling of crypto assets may be subject to tax, including capital gains tax, in your jurisdiction. Any descriptions of Crypto.com products or features are merely for illustrative purposes and do not constitute an endorsement, invitation, or solicitation.Past performance is not a guarantee or predictor of future performance. The value of crypto assets can increase or decrease, and you could lose all or a substantial amount of your purchase price. When assessing a crypto asset, it’s essential for you to do your research and due diligence to make the best possible judgement, as any purchases shall be your sole responsibility.
There are lots of ways to buy, swap, and convert crypto. Learn more about how you can do it all using Crypto.com.