How to Stake PancakeSwap (CAKE) in Australia

Introduction

Staking PancakeSwap can be a great option for those who want to hold CAKE while earning yield safely and contributing to the network. The steps may seem daunting, especially the first time you attempt them. That's why we've created this guide for you.

Step-by-Step Guide

1. 1. Obtain PancakeSwap (CAKE) Tokens

   To stake PancakeSwap, you need to own it. To obtain PancakeSwap, you'll need to buy it. You can choose from these popular exchanges.

   Platform	Coin	Cost
   PrimeXBT	PancakeSwap (CAKE)	1.8
   YouHodler	PancakeSwap (CAKE)	1.8
   Binance	PancakeSwap (CAKE)	1.81
   BTSE	PancakeSwap (CAKE)	1.81
   Coinbase	PancakeSwap (CAKE)	1.8
   Kraken	PancakeSwap (CAKE)	1.81

   See all 55 prices

2. 2. Choose a PancakeSwap Wallet

   Once you have CAKE, you'll need to choose a PancakeSwap wallet to store your tokens. Here are some great options.

   Platform	Coin	Staking returns
   Binance	PancakeSwap (CAKE)	Up to 0.12% % p.a.
   Bitmart	PancakeSwap (CAKE)	Up to 1% % p.a.

   View all 5 staking rewards

3. 3. Delegate Your CAKE

   We recommend using a staking pool when staking CAKE. It's simpler and quicker to get started. A staking pool is a group of validators who combine their CAKE, increasing their chances of validating transactions and earning rewards. You can do this through your wallet's interface.

4. 4. Begin Validation

   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 to consider. Additionally, there may be a waiting period before you start earning rewards. The staking pool needs to generate blocks, which can take some time.