What are PancakeSwap and CAKE?
PancakeSwap is a decentralized exchange (DEX). In simple terms, a DEX lets users trade crypto directly from a wallet instead of through a centralized platform that holds the assets during the trade.
CAKE is the PancakeSwap ecosystem token. CAKE has a hard cap of 400 million tokens. PancakeSwap also uses a buy-back-and-burn model, where fees from products such as spot trading and CAKE.PADs are used to remove CAKE from circulation.
How to buy PancakeSwap in the US
In the Crypto.com App, the basic flow is:
- Sign up for an account and complete identity verification.
- Add funds using one of the available payment methods.
- Tap 'Buy' and search for PancakeSwap.
- Enter the US dollar (USD) amount, choose your payment method and confirm your purchase.
How much PancakeSwap can you buy?
You don’t need to buy a whole CAKE token. US users can purchase fractional amounts of PancakeSwap from as little as US$1.
Before confirming, check the amount of CAKE, the payment method and any costs that apply. Other transaction fees and spread may apply.
Which payment methods can you use?
For US-based users, USD is the primary fiat currency accepted on the platform. You can deposit USD by automated clearing house (ACH) transfer or wire transfer to a Fiat Wallet.
Available funding options also include bank transfer, credit/debit card, Apple Pay, Google Pay or crypto transfer to your wallet. Depositing USD directly by local bank transfer can help you avoid foreign exchange fees when buying PancakeSwap at the real market price.
