Buy PancakeSwap (CAKE) - how to invest in PancakeSwap in South Africa

What is PancakeSwap (CAKE)? 

More than 10 years ago, the cryptocurrency market became a separate, independent sector of the economy. And, as it turned out, with a huge potential, a whole army of fans and a very stable foundation. Due to this, the cryptocurrency market is discussed everywhere, the terms "crypto", "volatility", "trading", NFT, mining are heard from everywhere, and world-renowned financial experts speak about the prospects of this economic segment.

Cryptocurrency is completely digital money, which has no physical expression and can not be converted into gold, dollars and other values. 

The only thing a cryptocurrency holder can do is exchange crypto to regular money in special places: exchangers or exchanges, or earn money by reselling it through trading. Recently, however, the cryptocurrency market is being introduced into the ordinary spheres of life as well. Today, different cryptocurrencies are accepted for payment in App Store, PayPal and other companies and technologies.

How PancakeSwap works?

PancakeSwap is a decentralized exchange working in the Binance Smart Chain (BSC) network. The exchange does not require registration, and its users do not have a "personal account" in the usual sense. To work with the exchange, users only have to "link" their wallet to the site. Now PancakeSwap supports many wallets. 

Like all decentralized platforms, the PancakeSwap exchange works on the basis of a smart contract. In fact, the exchange site is an external interface linking users' funds to that contract. All transactions on the exchange take place within the blockchain and are not directly controlled by anyone. The developers of the exchange can control its operation by updating the contract, but not by making changes to the blockchain.

What is CAKE?

The CAKE token is issued by the decentralized exchange PancakeSwap and is used by it for transactions and its products such as exchanges, pharming, predictions and lottery, see more about the products here.

CAKE is issued and operated, like the exchange itself, on the Binance Smart Chain (BSC) network of the BEP-20 standard.

Choosing a cryptocurrency
Choosing a cryptocurrency

What makes CAKE unique?

CAKE token has an inflationary model and has no maximum circulation limitation; new tokens are "printed" in each new block, some of which are subsequently burned. The developers separately explain the issue of new tokens by the need to encourage users to provide liquidity, which is reasonable because the availability of liquidity is the key to the performance of any exchange.

Despite the high inflation of tokens the project itself has good prospects: 

  • First of all, it is the leading DEX project using Binance Smart Chain, and thanks to the low transaction fees the total number of blocked funds in the network is constantly growing.
  • Second, the site's traffic in August 2021 exceeded 20 million users, which is almost 2 times more than the leading decentralized exchange by capitalization.
  • Third, the current capitalization of the project is less than 5 billion, while the leader among the DEX exchanges has more than 15 billion, which suggests that PancakeSwap is now undervalued and can grow to that level in the future.

Investors today are looking to buy PancakeSwap to diversify their investment portfolios as well as for long-term investing, realizing that the cryptocurrency market is still developing today.

How to Buy PancakeSwap (CAKE)?

When it comes to a very volatile asset such as a cryptocurrency token, it is very important to research everything yourself to determine if it is suitable for your investment portfolio. The decision should depend on your attitude toward risk and how much money you have to invest. Remember that you should never invest more than you can afford to lose. However, there is an optimistic outlook on coin and many people don't mind to buy CAKE for their portfolio because they believe in the future of digital currencies. 

Predictions from sites like Wallet Investor and DigitalCoin predict that the price of CAKE will rise against the U.S. dollar in the future. Various economic agencies believe the price will remain below 50 USD on average until 2025.

So we found out that PancakeSwap Cryptocurrency (CAKE) is a Binance Smart Chain (BSC) network token, BEP-20 standard. This is the main currency of PancakeSwap. And if you own the asset itself, you can do the following with it:

  • Stack and get even more CAKE.
  • Pair it with other tokens, provide liquidity, and get yield from farming.
  • Participate in IFOs by investing in new projects.
  • Buy lottery tickets and possibly win.
  • Create your profile: with an avatar, trophies and statistics.
  • Vote for changes on PancakeSwap.

This is how you earn and spend Cake within the platform. But cryptocurrencies offer the widest range of ways to earn income that you won't find in any other financial instrument. 

Take a video tutorial on the platform
Take a video tutorial on the platform

Investing

This approach involves making long-term trades. You can invest in PancakeSwap on an exchange like Binance by buying an asset for fiat money and then putting it into your cryptocurrency wallet. It is also suitable for non-professionals because it does not require knowledge of technical analysis, trading abilities and other skills.

Investing has less potential than trading. The price of cryptocurrencies can change by tens of percent every day, and the investor, accordingly, misses the opportunity to make money on these fluctuations. 

Long-term investing has another significant nuance. It is extremely important to find the right moment to buy an asset; it is better to wait for a strong decline in its rate.

Crypto-trading

The goal of crypto trading is the same as that of investing: buy cheaper and sell higher. This can be done either on the exchange, by buying the asset itself, or on a broker's platform without buying the asset, by means of a CFD contract. Register and try to buy PancakeSwap in South Africa on a demo account, for free!

On the platform you will also have an instructional video on how to trade, so if you have any questions, and you want to get the right instruction, please do not hesitate to contact us. The platform also gives you a handy function of pending orders, which will simplify your work.

Popular cryptocurrency
Popular cryptocurrency

But the main difference between trading and investing is the period of transactions. For investing, the average duration of an event is at least a few weeks or months, while traders can make multiple trades in a single day.

Accordingly, to trade cryptocurrencies, players use a wider set of tools: indicators, candlestick analysis, charts, etc. All this is presented on the platform, and you can use these tools for free!

What are CFDs on Cryptocurrencies? 

CFDs are contracts for differences in the price of digital assets. Regardless of whether the price of the asset moves up or down, you can earn without owning, buying or selling the cryptocurrency itself.

If you expect the price to rise, you open a buy position. If you're right, you make a profit. If not, the difference in price, taking into account the size of the open position, becomes a loss. If you expect the price to fall, you open a sell position. If the price goes down, you make a profit, if it goes up, you make a loss. You do not need to monitor the market to enter into a trade at a single convenient moment, you can do so at any time, when you can estimate where the price will go.

Stop loss and take profit functions for your convenience
Stop loss and take profit functions for your convenience

Advantages of Crypto-trading

The main advantage of trading is the high potential profit.

Cryptocurrencies are very volatile, which gives traders, sometimes in just one day, significant amounts of money to earn.

The second advantage of trading is the low entry threshold. It is enough to have only $10 to make the first deal on the market. This is the average size of the minimum deposit on the broker's platform. The minimum transaction amount can be as low as $1.

Is it safe to invest in PancakeSwap online? 

PancakeSwap was audited by CertiK, a blockchain security ranking platform, in October 2020. CAKE tokens can be safely stored in wallets connected to BSC. 

If you invest through an exchange, you get extra protection from the exchange. If you are trading, you just need to make sure that your brokerage platform is secure from fraud.

How to start investing in PancakeSwap (CAKE) in South Africa? 

Many newcomers to trading are asking is PancakeSwap a good investment? Most analysts agree that it is. The platform and its token have promise and are now showing consistent results and professional performance.  But remember, if you will invest in PancakeSwap in South Africa on a brokerage platform, you can earn both downside and upside. It is more important for you to have a volatile asset so that you can predict where its price will go. 

Registration of the platform
Registration of the platform

There are a number of important factors to consider when deciding which online brokers to use. These include the reputation of the business as well as the range of services they provide. Reputable brokerage firms will have good customer support and can even offer asset analysis and advice to traders. 

How to buy PancakeSwap now? 

To do this, you need to register on the platform of the broker. To do this, enter the necessary data in the registration menu.  And also your e-mail. The procedure is free, takes two minutes and allows you to become a part of the trading world. 

Also download a free handy application for your PC to make trading faster and more functional.

Demo account 

The demo account is designed for play trading the various assets that are available on the platform. It provides all the tools you need to evaluate and monitor currencies and other assets. This usually means that you can estimate in which direction the price of an asset will move, thus increasing the chance of making a profit.

How to open a demo or a real account
How to open a demo or a real account

Once you open an account on the platform, you will automatically be credited with virtual money. It is the amount of money that you will study with no risk. Feel free to take your first steps in trading!

Live Account

If you want to trade for real, then go to your personal cabinet and deposit an amount convenient for you. The sum must be equal or larger than the minimum deposit set by the broker. You can make a profit by investing even small amounts of money! 

Deposit replenishment
Deposit replenishment

You can deposit your account in different ways, choose the one that is convenient for you, most traders choose payment cards for depositing and withdrawing funds from the account.

You can deposit your account in different ways, choose the one that is convenient for you, most traders choose payment cards for depositing and withdrawing funds from the account.

So, once you are a full member of the platform, you can take another look at the assets, choose the one you like and click the buy button if you think the asset will go up in value, or sell if it will go down. For more detailed instructions, please refer to the Frequently Asked Questions section of the website or to the video tutorials. Good luck!

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