How to Stake PancakeSwap (CAKE)

Introduction

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.

Step-by-Step Guide for South African Investors

1. 1. Acquire PancakeSwap (CAKE) Tokens

   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.

   Platform	Mint	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

   View all 55 prices

2. 2. Select a PancakeSwap Wallet

   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

   View all 5 staking rewards available

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 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.

4. 4. Start Validating

   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 Keep in Mind

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.