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An in-depth guide on the best way to stake CAKE.
We have a lot of data on staking PancakeSwap and we share some of this with you.
We show you some staking options with other coins that could be of interest.
PancakeSwap (CAKE) is currently priced at $2.63, with a 24-hour trading volume of $35.72M. In the last 24 hours, PancakeSwap has seen an increase to 0.74. The market cap of PancakeSwap stands at $679.42M, with 259.81M in circulation. For those looking to buy or trade PancakeSwap, reputable platforms like Binance, BTSE, YouHodler, Nexo, SwissBorg and Bake offer avenues to do so securely and efficiently.
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.
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.
Once you have CAKE, you’ll need to choose a PancakeSwap wallet to store your tokens. Here are some good options.
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.
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.
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.
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