Introduction
Lending PancakeSwap can be an excellent option for those who wish to hold CAKE while earning a yield. The steps may seem a bit daunting, particularly the first time you undertake them. That's why we've compiled this guide for you.
Step-by-Step Guide
1. Obtain PancakeSwap (CAKE) Tokens
To lend PancakeSwap, you need to possess it. To obtain PancakeSwap, you'll need to purchase it. You can choose from these popular exchanges in the UK.
2. Choose a PancakeSwap Lender in the UK
Once you have CAKE, you'll need to choose a PancakeSwap lending platform to lend your tokens. You can see some options here.
View all 6 loan ratesPlatform Coin AER YouHodler PancakeSwap (CAKE) Up to 12% AER Aave PancakeSwap (CAKE) Up to 0.11% AER Kucoin PancakeSwap (CAKE) Up to 0.47% AER 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 AER. Some platforms pay interest daily, while others do so weekly or monthly.
4. Earn AER
Now all you need to do is sit back while your cryptocurrency earns interest. The more you deposit, the more interest you can earn. Try to ensure your lending platform pays compounding interest to maximise your returns.
What to Be Aware Of
Lending your cryptocurrency can be risky. Ensure you conduct thorough research before depositing your crypto. Do not lend more than you are prepared to lose. Review their lending practices, customer feedback, and the measures they take to secure your cryptocurrency.
Latest Movements in the UK
PancakeSwap (CAKE) is currently priced at US$0.11 with a 24-hour trading volume of US$97.56M. The market cap of PancakeSwap stands at US$674.62M, with 291.94M CAKE in circulation. For those looking to buy or trade PancakeSwap, YouHodler offers avenues to do so securely and efficiently
- Market capitalisation
- US$674.62M
- 24-hour volume
- US$97.56M
- Circulating supply
- 291.94M CAKE
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