Quick summary: Our recommendation is to use the crypto exchange Swyftx to buy PancakeSwap. They have over 300 cryptocurrencies available, have a fantastic app and great customer support. You also get $20 free BTC once you start trading!
Australia has a decent number of popular and regulated cryptocurrency exchanges, so it’s quite easy finding an exchange that has PancakeSwap. While each one comes with its own feature-set and fee structure, most crypto exchanges function very similarly when it comes to buying crypto.
Let’s get into it!
How to Buy PancakeSwap in Australia
There are only 4 main steps involved and it’s pretty straightforward:
1. Choose a crypto exchange
As mentioned above, we have plenty of options when it comes to Australian crypto exchanges. While that’s great, you ideally want to do a bit of research so you can use one that has a decent fee structure and more importantly, has PancakeSwap in its list of cryptocurrencies.
Personally, we really like Swyftx, they have over 300 cryptocurrencies, a very smooth process for buying crypto, and their support team has been fantastic.
And if you sign up through our site, you’ll get 20$ worth of free BTC once you start trading, which is always nice.
So for this guide on buying PancakeSwap, we’ll be using Swyftx as the exchange to go through. Any exchange would work of course, as long as they offer PancakeSwap.
It’s also possible to check out our comparison of the best places to buy bitcoin in Australia for those curious to know more about the exchanges we like.
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 PancakeSwap, 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 PancakeSwap
The final step is to go to their asset list, find PancakeSwap, navigate to the buy section, and then trade your AUD for some CAKE. Once you’ve bought PancakeSwap, 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 PancakeSwap (CAKE)
|5/5||300+ cryptocurrencies||Visit Swyftx|
|4/5||200+ cryptocurrencies||Visit Coinspot|
|3/5||400+ cryptocurrencies||Visit Binance|
Disclaimer: Trading, investing, and dealing with digital and cryptocurrencies might involve a lot of risks. Their prices are volatile and performance is unpredictable. Their past performance is no guarantee of future performance.
Affiliate Disclosure: This site is supported by its users. We may receive commissions for purchases made through the links on our site. This does not impact our reviews, guides or comparisons.
How to Sell PancakeSwap
If you’re thinking about selling PancakeSwap, just follow the steps below.
- Sign in to the crypto exchange (like Swyftx).
- Click on PancakeSwap 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 PancakeSwap for AUD, or trade it for another cryptocurrency.
Frequently Asked Questions
Is buying PancakeSwap 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 PancakeSwap 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 PancakeSwap. Have a look on their site first, you might be lucky.
How to buy PancakeSwap 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 PancakeSwap with your credit/debit card.
PancakeSwap -- An automated market maker (AMM) and a decentralized financial application (DeFi) that allows users to trade tokens. It offers liquidity through farming and charges fees.
You can find more information on the project at our deep dive on Pancakeswap.
It was launched on September 2020. The exchange allows users to trade BEP20 tokens on Binance Smartchain. PancakeSwap uses an automated market maker model where users trade against a liquidity pool. To receive liquidity provider tokens (LP), users deposit funds into the pool.
These tokens can later be used to reclaim their share of the pool as well as a portion of trading fees. These LP tokens can be called FLIP. PancakeSwap lets users farm additional tokens such as CAKE and SYRUP. You can deposit LP tokens to the farm and get rewarded with CAKE
PancakeSwap allows users to trade BEP20 tokens, and earn fees. They can also stake LP tokens to CAKE.
PancakeSwap uses an automated market maker model. This means there is no order book, but instead liquidity pools are used. A liquidity provider is a person who can make income. They can add tokens to the liquidity pool to farm LP tokens and stake their CAKE to earn rewards. They can also play with non-fungible tokens or lotteries.
PancakeSwap token CAKE is a BEP20 token that was originally launched on Binance Smartchain. CAKE's primary purpose is to promote liquidity provision to PancakeSwap.
Users can earn rewards by staking their tokens. To do this, deposit Liquidity provider tokens. Lock them. This is called farming and you will be rewarded with CAKE tokens. The tokens can be used immediately and there is no holding period. CAKE gives investors the opportunity to invest in the future, increases returns and has some risks.
To enter the PancakeSwap lottery, you can use CAKE Six hours are required to complete each session. 10 CAKE is the cost of a single ticket. The random combination of numbers 1-14 is included in the ticket. The jackpot equals 50% of the total lottery pool. Your ticket must match the winning numbers to win.
Users can also win non-fungible tokens that can be traded for CAKE or kept in a bank account.