How to Buy
5 steps to buy on BYDFi
Open BYDFi account for free
Sign up for BYDFi with your email/mobile number and create a strong password to protect your account
Keep your account safe
Enable Google Authentication (2FA), set anti-phishing code, and trading password to add an extra layer of protection to your account.
Verify account
Enter your personal information and upload a photo of your valid ID cardVerify your personal identity
Add payment method
Once your BYDFi account is verified, add credit/debit card or bank account
Buy
There are various payment methods available to purchase CAKE on BYDFi. We'll guide you through it
Choose how to purchase CAKE on BYDFi
Buying coins on BYDFi is easy and convenient. Explore different ways to buy
- 1
Buy with credit/debit card
This is the easiest way for new users to buy (CAKE). Connect your credit/debit card to your account, enter the amount, and wait for the transaction to complete
- 2
Buy through third-party channels
BYDFi supports a variety of leading third-party payment services. Visit ourThird-party payment pageCheck out the payment methods available in your area
- 3
Buy on BYDFi's Spot market
BYDFi's Spot market offers 700+ Coin pairs, making it the most popular buying platform. Buying methods are as follows:1. Buy stablecoins through BYDFi, third-party Coin buying channels. Additionally, you can transfer crypto assets from other wallets or exchanges to the BYDFi platform. Please make sure to choose the correct blockchain network, once you deposit your funds to the wrong address it cannot be reversed.2. Transfer your crypto to BYDFi account. Find the trading pair you want to trade on BYDFi's spot market. Place an order to exchange your currency to
Note: BYDFi offers a variety of order types to buy in the spot market, such as market orders to buy immediately and limit orders to buy at a specific price. For more information about BYDFi order types, click here3. After a successful trade, you can view the available in your account
How to store ?
The best way to store will vary depending on your needs and preferences. Check out the pros and cons to find the best way to store
Store CAKE in your BYDFi account
Storing assets on BYDFi will give you quick access to trading products such as spot and contract trading, savings, lending, and more. BYDFi acts as the custodian of your crypto assets, saving you the hassle of keeping your private keys. Make sure to set strong passwords and upgrade your security settings to prevent malicious actions from accessing your assets
Deposit your CAKE to the wallet
「No key, can't withdraw」If security is your biggest concern, you can withdraw to a decentralized wallet, so you can easily manage your key. You can use any type of wallet, including smart wallets, Web3 wallets or paper wallets. Note that this option may not be convenient if you want to frequently trade or use your assets. Be sure to store your private key in a secure location as loss of the key could result in the permanent loss of .
How you can use with BYDFi
Hold
Store in your BYDFi account.
Trade
Trade in spot and futures markets.
Why is BYDFi the best platform to buy ?
Safe and reliable
Millions of global crypto users trust us. Our multi-tier & multi-cluster system architecture and insurance fund protect your account.
High liquidity
BYDFi has highly liquid buy and sell orders for all listed cryptocurrencies, providing a liquid trading experience with tight spreads
Gem cryptocurrency platform
Supporting over 500 cryptocurrencies, BYDFi is the best platform to find your next Gem. You can buy CAKE on BYDFi and use it to exchange other crypto assets.
Friendly interface
Thanks to its simple interface and superior technology, buying on BYDFi is quick and convenient. Buy Coin on BYDFi to receive CAKE
Trade
Answers
Is PancakeSwap (CAKE) a Good Investment?
PancakeSwaps CAKE token is a good investment, especially if you want to generate passive income by putting your holdings to work. As the native token of one of the largest DEXs in the crypto market, investing in CAKE is a good idea if you wish to earn high returns from staking or yield farming. Based on the CAKE price performance, it could also be good crypto to consider holding long-term, thanks to good fundamentals supporting the project. The PancakeSwap price could increase as more users sign on to use the DEX and trade on it. Increased staking activity surrounding the $CAKE token could also drive the PancakeSwap higher and give good returns on your investment. The CAKE price statistics could also benefit from increased interest in decentralized finance by crypto users.
What is CAKE Token Used For?
$CAKE, a BEP20 token on the BNB Smart Chain, is the native cryptocurrency of the PancakeSwap ecosystem. It has the following uses:
Staking and Yield Farming
Stake CAKE in Syrup Pools or perform yield farming activities with your tokens to earn rewards on PancakeSwap. The DEX offers attractive returns on its services, making it a good option for seasoned crypto investors.
Native Currency
As the native currency of PancakeSwap, CAKE can be used to buy lottery tickets, participate in IFO sales, and trade NFTs on the platform. It can also be used to pay trading fees on PancakeSwap, earning you a discount.
Governance Token
CAKE token holders enjoy voting rights within the PancakeSwap ecosystem. You can vote on proposals and have a say in how the DEX evolves in the future.
Crypto Asset to Trade and HODL
Trade PancakeSwap against other crypto assets on supported platforms. Buy or sell CAKE against other cryptocurrencies or hold the token long-term if you believe in the future potential of the PancakeSwap project. Review the real-time PancakeSwap price, CAKE market cap, circulating supply, 24-hour trading volume, and the latest crypto news before you trade CAKE.
Earn Passive Income on BYDFi
BYDFi lets you grow your CAKE holdings conveniently using the Crypto Lending feature. Head to this section to lend liquidity for CAKE on our platform. Earn attractive daily interest over seven days, 14 days, or 28 days and grow your portfolio risk-free.
How to Buy Crypto on PancakeSwap
Heres how to buy cryptocurrency on the PancakeSwap:
1. Set up an account on a crypto wallet that supports BNB Smart Chain.
2. Connect your wallet to the PancakeSwap app.
3. Fund your wallet by buying BNB or BEP20 tokens on exchanges like BYDFi and transferring them to your wallet.
4. Use the Swap feature on PancakeSwap to exchange one crypto asset for another based on market movements.
How to Connect MetaMask Wallet to PancakeSwap
MetaMask is a popular crypto wallet for DeFi and Web3 users. Heres how you can connect your MetaMask wallet to the PancakeSwap DEX:
1. Set up your wallet on MetaMask, if you are a new user.
2. Click on the top-left section of your MetaMask account to go to Settings.
3. Select Network and click on the Add Network button at the bottom.
4. Enter the following details on the next page and click on Confirm:
Network Name: BNB Smart Chain
RPC URL: http://bsc-dataseed.binance.org
Chain ID: 56
Symbol: BNB
Block Explorer URL: http://bscscan.com
5. Open the PancakeSwap app on another browser tab.
6. Connect your MetaMask wallet to the DEX successfully.
How to Stake $CAKE on PancakeSwap
The staking pool on PancakeSwap is called Syrup Pool. You can use this feature to stake CAKE tokens on the DEX conveniently. Heres how:
1. Visit the PancakeSwap app and connect your wallet to it. Ensure that you have sufficient funds in CAKE for staking.
2. Select the Earn tab on the PancakeSwap interface and click on Pools.
3. View the list of available Syrup Pools, and review the APYs and tenure on offer.
4. Click on Details and then Enable to stake to a particular Syrup Pool of your choice.
5. Confirm the transaction, sit back, and earn CAKE rewards to grow your holdings through staking.
