Introduction
Staking PancakeSwap can be a great option for those who want to hold CAKE but earn yield in a safe way while contributing to the network. The steps can be a little daunting, especially the first time you do them. That’s why we’ve put this guide together for you.
Step-by-step
- 1
Obtain PancakeSwap (CAKE) tokens
In order to stake PancakeSwap, you need to have it. To obtain PancakeSwap, you'll need to purchase it. You can choose from these popular exchanges.
- 2
Choose a PancakeSwap wallet
Once you have CAKE, you’ll need to choose a PancakeSwap wallet to store your tokens. Here are some good options.
- 3
Delegate your CAKE
We recommend using a staking pool when staking CAKE. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their CAKE, which gives them a higher chance of validating transactions and earning rewards. You can do this through your wallet’s interface.
- 4
Start validating
You’ll need to wait for your deposit to be confirmed by your wallet. Once it’s confirmed, you’ll automatically validate transactions on the PancakeSwap network. You’ll be rewarded with CAKE for these validations.
What to be aware of
There are transaction and staking pool fees you need to consider. There can also be a waiting period before you start earning rewards. The staking pool will need to generate blocks, and this can take some time.
Latest movements
PancakeSwap (CAKE) is currently priced at $1.98, with a 24-hour trading volume of $21.82M. In the last 24 hours, PancakeSwap has seen an increase to 0.51. The market cap of PancakeSwap stands at $456.40M, with 230.87M in circulation. For those looking to buy or trade PancakeSwap, reputable platforms like M2, Uphold, Binance, BTSE, Bitmart and BingX offer avenues to do so securely and efficiently.
- Market cap
- $456.40M
- Volume
- $21.82M
- Circulating supply
- $230.87M
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