Quick summary: Our recommendation is to use the crypto exchange Swyftx to buy BakeryToken. They have over 300 cryptocurrencies available, have a fantastic app and great customer support. You also get $20 free BTC once you start trading!
Australia has a good amount of trusted and regulated cryptocurrency trading platforms, so it’s quite easy finding an exchange that has BakeryToken. While each one comes with its own feature-set and fee structure, most crypto exchanges function very similarly when it comes to buying crypto.
Let’s get into it!
How to Buy BakeryToken in Australia
There are only 4 main steps involved and it’s pretty straightforward:
1. Choose a crypto exchange
As mentioned above, we have plenty of options when it comes to Australian crypto exchanges. While that’s great, you ideally want to do a bit of research so you can use one that has a decent fee structure and more importantly, has BakeryToken in its list of cryptocurrencies.
Personally, we really like Swyftx, they have over 300 cryptocurrencies, a very smooth process for buying crypto, and their support team has been fantastic.
And if you sign up through our site, you’ll get 20$ worth of free BTC once you start trading, which is always nice.
So for this guide on buying BakeryToken, we’ll be using Swyftx as the exchange to go through. Any exchange would work of course, as long as they offer BakeryToken.
You can also take a look at our analysis of the crypto exchange reviews if you’re looking to learn more about which exchanges we would recommend.
2. Sign up with the crypto exchange
Once you’ve decided on which exchange to use, it’s time to sign up.
Swyftx has a very streamlined sign-up process in place. The first step is to fill in the sign-up form.
Next up is to go through their basic verification process, called a KYC, which is required by law here in Australia. This should be very quick and easy.
Once done, it’s time for the next step.
3. Funding your account with AUD
To buy BakeryToken, you first need to transfer AUD to your Swyftx account using one of the many deposit methods available. From bank transfer to PayID, POLi pay and credit cards, plenty of options to choose from.
4. Buy BakeryToken
The final step is to go to their asset list, find BakeryToken, navigate to the buy section, and then trade your AUD for some BAKE. Once you’ve bought BakeryToken, you can track how much you’ve gained or lost either in the app (they have a great app), or on desktop on the left-hand side under your cryptocurrency list.
Where to Buy BakeryToken (BAKE)
|5/5||300+ cryptocurrencies||Visit Swyftx|
|4/5||200+ cryptocurrencies||Visit Coinspot|
|3/5||400+ cryptocurrencies||Visit Binance|
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How to Sell BakeryToken
If you’re thinking about selling BakeryToken, just follow the steps below.
- Sign in to the cryptocurrency trading platform (like Swyftx).
- Click on BakeryToken in your list of cryptocurrencies, or find your trading account if you’re using an exchange with different accounts.
- FInd the sell section and sell BakeryToken for AUD, or trade it for another cryptocurrency.
Frequently Asked Questions
Is buying BakeryToken in Australia legal?
Yes, you can legally buy and trade cryptocurrencies in Australia. We do of course recommend only using crypto exchanges regulated by AUSTRAC.
How to buy BakeryToken with PayPal?
Unfortunately, most crypto exchanges in Australia don’t support PayPal. The only exchange that you could use is eToro, but their cryptocurrency list is quite limited so you might not find BakeryToken. Have a look on their site first, you might be lucky.
How to buy BakeryToken with a credit card or debit card?
Most top exchanges support buying crypto with a credit or debit card. We would recommend Swyftx to buy BakeryToken with your credit/debit card.
BakeryToken (BAKE) was launched in September 2020 and is part of the BakerySwap ecosystem. To help liquidity providers earn a share of BakerySwap trading fees, BAKE tokens can be awarded. They can be used to vote in BakerySwap governance.
BakerySwap is a decentralized automated market-making (AMM) protocol built on the Binance Smart Chain. On the platform, you can find the native BEP-20 governance token (the BAKE token).
Users who contribute liquidity to BakerySwap can earn BAKE tokens. BAKE token holders can use their tokens for voting in governance and to receive transaction fees dividends. Multiple liquidity pools offer BAKE rewards.
On the Binance Smart Chain, you can find Bakery Swaps. BAKE-BNB pools will offer ten times the rewards of other pools.
BakerySwap, a Binance Smart Chain-based AMM, offers liquidity pools to altcoins such as LINK, DOT, and others. It works by using the initial liquidity pools. BakerySwap has two types of liquidity pools. Both have BAKE rewards and the other doesn't. This is so that the community can create new liquidity pools more easily.
Only designated pools will be eligible for BAKE rewards. Each pool will have a different reward multiplier depending on how much BAKE holders are worth.
BakerySwap charges 0.3% on all trades or swaps. Liquidity providers receive 0.2%
Liquidity providers are given liquidity pool tokens that represent their share of each pool. They can earn a portion of the fees that the pools collect to remove liquidity. Liquidity providers can stake Bakery LP tokens to earn BAKE token rewards.