Earn up to
0,12% APY
A comprehensive guide on how to stake PancakeSwap (CAKE)
We have a wealth of information on staking PancakeSwap (CAKE) and we're excited to share some of this with you.
We present some staking options with other cryptocurrencies that may pique your interest.
PancakeSwap (CAKE) is currently priced at US$1,12 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, Binance offers avenues to do so securely and efficiently
Staking PancakeSwap can be an excellent choice for those looking to hold CAKE while earning APY in a secure manner and supporting the network. The process may seem a bit overwhelming, particularly if it's your first time. That's why we've created this guide to assist you.
To stake PancakeSwap, you first need to acquire it. To obtain PancakeSwap, you'll need to buy it. You can select from these popular exchanges available in South Africa.
Once you have CAKE, you'll need to choose a PancakeSwap wallet to store your tokens securely. Here are some solid options to consider.
| Platform | Mint | Staking rewards in South Africa |
|---|---|---|
| Binance | PancakeSwap (CAKE) | Up to 0,12% APY |
| Bitmart | PancakeSwap (CAKE) | Up to 1% APY |
We recommend using a staking pool when staking CAKE. It's simpler and quicker to get started. A staking pool is a collective of validators who combine their CAKE, which increases their chances of validating transactions and earning rewards. You can manage 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 take into account. Additionally, there may be a waiting period before you begin earning rewards. The staking pool will need to generate blocks, and this process can take some time.
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