How to buy CAKE?

CAKE is one of the thousands of tokens supported by LetsExchange. You can purchase CAKE directly with 5,000+ other coins and tokens here. You can buy CAKE smoothly and efficiently on our platform with almost no upper limits. 

What is CAKE?

CAKE, the governance and utility token of PancakeSwap, supports a thriving DeFi ecosystem. Beyond just trading, CAKE can be staked for rewards, used to vote on governance proposals, or participate in lotteries. PancakeSwap has been pursuing multichain expansion, recently launching on Ethereum layer-2 solutions, boosting its presence in the DeFi space. 

How to buy CAKE on LetsExchange: a step-by-step guide

On LetsExchange, you can swap any supported 5,000+ crypto assets to CAKE quickly and smoothly. 

To proceed with the swap, follow these steps. 

In the You Send field in the exchange widget, select the coin to exchange for CAKE. We will swap Bitcoin, but you can choose any 5,000+ supported assets.  

Provide the number of coins you want to swap. In our example, we will be swapping 0.1 BTC.

Choose the exchange rate type: fixed or market.

If you pick a fixed rate, you will receive the amount specified on the You Get screen. With a fixed rate, you can use a promo code. If you don’t have a promo code but want one, follow us on our social networks. The platform organizes many activities there; you can earn monetary rewards and get promo codes by participating.

If you pick a market rate, the sum you receive may differ from the sum initially displayed in the widget. LetsExchange will select the best rate among multiple liquidity providers, and the swap will be completed at that rate. 

We pick a fixed rate because, with it, you can receive cashback by entering a promo code.

In the You Get window, pick CAKE.

Now, the picked coin will be displayed in the You Get field. The sum that you will get will be calculated automatically.

If you have a promo code, type it in. You will get cashback. If you don’t have a promo code but want to get one, follow us on social media for updates - from time to time, we organize some events for our users to reward them with promo codes and other valuable rewards. 

Click on the Swap option.

Now, the widget will display a window where you will be asked to enter your receiving wallet address. The swapped coins will be sent there.

You can also fill out the refund address. If the swap doesn’t go as expected, your coins will be refunded there. 

Finally, you can provide a valid email to receive updates about the progress of the swap.

Recheck the data and hit the Apply button. 

You will be displayed a deposit wallet address to which you must send your coins. After you do so, the coins will be swapped, and your CAKE coins will be sent to the receiving wallet address you’ve provided.

After completing the swap, you can download the receipt with all the swap details. You can also track your swap at any stage by copy-pasting its number on the Swap Status page.

Conclusion

PancakeSwap’s CAKE is the utility token of the largest decentralized exchange (DEX) on the Binance Smart Chain. It’s primarily used for staking, liquidity provision, and governance on the platform. CAKE holders can earn rewards by staking in liquidity pools, participating in lotteries, or even farming yields. You can buy CAKE on LetsExchange with a couple of clicks.