How to buy CAKE coin? Graphic tutorial on the steps of buying and selling CAKE coins

To purchase CAKE coin, create an account on an exchange like OKX, fund it, place an order on the CAKE/USDT trading pair, and receive your coins upon order execution.

Oct 30, 2024 at 07:53 am

How to Buy CAKE Coin: A Step-by-Step Guide

CAKE coin is the native token of the PancakeSwap decentralized exchange (DEX). It is used to power the DEX's operations, including trading, staking, and yield farming. CAKE coin can be purchased on various exchanges, including OKX, Binance, and FTX

Step 1: Choose an Exchange

The first step is to choose an exchange that supports CAKE coin trading. For this guide, we will use OKX as an example.

Step 2: Create an Account

Once you have chosen an exchange, you need to create an account. This will typically require providing your name, email address, and password. You may also need to complete a KYC (Know Your Customer) process.

Step 3: Fund Your Account

Once your account is created, you need to fund it in order to purchase CAKE coins. OKX supports a variety of payment methods, including credit cards, debit cards, and bank transfers.

Step 4: Place an Order

Once your account is funded, you can place an order to buy CAKE coins. To do this, navigate to the CAKE/USDT trading pair and enter the amount of CAKE you wish to purchase. You can also choose to place a market order or a limit order.

Market order: A market order will execute immediately at the current market price.
Limit order: A limit order will only execute if the market price reaches your specified price.

Step 5: Receive Your CAKE Coins

Once your order has been executed, your CAKE coins will be credited to your OKX account. You can then store them in your spot wallet or send them to an external wallet.

How to Sell CAKE Coin

To sell CAKE coin, follow these steps:

Step 1: Navigate to the CAKE/USDT trading pair in your exchange account.

Step 2: Enter the amount of CAKE you wish to sell and select the "Sell" button.

Step 3: Choose whether to place a market order or a limit order.

Step 4: Once your order has been executed, your USDT will be credited to your account. You can then withdraw it or use it to purchase other cryptocurrencies.

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The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！

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