How to Lend PancakeSwap (CAKE) in Australia

Introduction

Lending PancakeSwap can be a great option for those who want to hold CAKE while earning yield. The steps may seem a bit daunting, especially the first time you do them. That's why we've put this guide together for you.

Step-by-Step Guide

1. 1. Obtain PancakeSwap (CAKE) Tokens

   To lend PancakeSwap, you need to possess it. To acquire PancakeSwap, you'll need to buy it. You can select from these popular exchanges.

   Platform	Coin	Cost
   PrimeXBT	PancakeSwap (CAKE)	1.99
   YouHodler	PancakeSwap (CAKE)	1.99
   Binance	PancakeSwap (CAKE)	1.99
   BTSE	PancakeSwap (CAKE)	1.99
   Coinbase	PancakeSwap (CAKE)	1.99
   Kraken	PancakeSwap (CAKE)	1.98

   See all 55 prices

2. 2. Choose a PancakeSwap lender

   Once you have CAKE, you'll need to choose a PancakeSwap lending platform to lend your tokens. You can find some options here.

   Platform	Coin	Interest rate
   YouHodler	PancakeSwap (CAKE)	Up to 12% p.a.
   Aave	PancakeSwap (CAKE)	Up to 0.11% p.a.
   Kucoin	PancakeSwap (CAKE)	Up to 0.47% p.a.

   See all 6 lending rates

3. 3. Lend Your PancakeSwap

   Once you've chosen a platform to lend your PancakeSwap, transfer your PancakeSwap into your wallet on the lending platform. Once it's deposited, it will start earning interest. Some platforms pay interest daily, while others do so weekly or monthly.

4. 4. Earn Interest

   Now all you need to do is sit back while your crypto earns interest. The more you deposit, the more interest you can earn. Ensure your lending platform pays compounding interest to maximise your returns.

What to Be Aware Of

Lending your crypto can be risky. Ensure you do your research before depositing your crypto. Don't lend more than you're willing to lose. Check their lending practices, reviews, and how they secure your cryptocurrency.