Crypto.com Now Supports CAKE.

CAKE, the native token of the Automated Market Maker (AMM) and Decentralized Exchange (Dex) platform PancakeSwap, has been listed in many popular exchange platforms. Crypto.com, one of the foremost fiat/crypto exchanges, has now joined the list of platforms on which users can trade CAKE and spend it with their unique Visa card system.

By
Wilfred Victor
on
April 23, 2021
Category:
Blockchain News


CAKE Listing on Crypto.com

In an official Tweet on April 22nd from the fiat-based exchange platform, the platform announced the listing of CAKE, followed by a blog post that explains the details of the listing.

Crypto.com Lists Cake

The platform trade function can only be accessed through the use of the Crypto.com Apple/Android applications. The apps have high user ratings of nearly five stars with positive reviews from users on the Android playstore and 4.3 stars from users on the Apple IOS store.

Trading is already active.

Users can now trade CAKE on Crypto.com with no fees, hidden charges or spread. The team will securely store CAKE assets on the app. If you use the platform Visa Card (formerly known as MCO), you can get up to 8% reward back on card spending based on card tier.


How to Purchase CAKE on Crypto.com

Crypto.com on Playstore

  • Sign-in or Register, a new account for new users
  • Hit the Buy button to purchase CAKE

Listed cryptocurrencies including BNB, USDT, ADA, etc.

  • Before you are allowed to proceed, you are asked to provide your card details (this is safe as there have no reported incidence of credit card theft on the platform at the time of this review)
Add credit/debit card details.

  • Search for CAKE on the search bar
  • You can purchase with any of the three options available - Credit Card, Crypto Wallet, and Fiat Wallet.
Purchase CAKE with any of the three options available

  • Go trade or stake your CAKE!


Benefits of This Listing for CAKE Holders

Crypto.com is one of the earliest blockchain-based projects which have successfully issued its visa card to its users, making the platform an easy to use, fiat, and crypto-based platform. 

0% fees on credit or debit card purchase

It is one of few exchanges that have made buying Cryptos with credit or debit cards possible. The team has made this process fast and easy with 0% fees. It doesn’t have an extensive list of cryptocurrencies at this time, but its 90+ listings have some very credible research and valid reasoning behind their selection, improving user investment safety. Since the platform offers token/coin purchase to buyers using Fiat currencies, the company has a strong foundation of compliance, security, privacy and is on track to secure its licenses in several jurisdictions.

This listing further boosts the credibility and exposure of the CAKE token, which has by now been gaining incredible valuation and Total Value Locked (TVL) on its platform.


About PancakeSwap

Source

As earlier mentioned, PancakeSwap is a decentralized exchange and AMM aggregator on the Binance Smart Chain network. It is the number one project on the chain with an incredible TVL of over $7 billion in its farm and pools. The platform is responsible for the great projects and DeFi services on the BSC network and is often forked by both established and new AMM protocols.

The native token, CAKE, is among the most valuable native tokens, with the most significant market cap and volume in the Binance Smart Chain ecosystem.


About Crypto.com

Source

Founded in 2016, the Crypto.com platform has over 10 million users worldwide and supports 90+ countries in accessibility. The platform’s popularity is in the ability of its users to purchase crypto coins with Fiat in a secured and safe environment. Its Visa card service is also an established, well adopted crypto-based Visa credit/debit card on the blockchain economy. The service provides plenty of rewards for users, making it an appealing choice for new crypto investors.

Roadmap and Final Thoughts

With the access to a crypto debit/credit card, Crypto.com is set to provide users with an easy way to pay with cryptocurrencies. By partnering with PancakeSwap, Crypto.com will give its users access to one of the most highly-backed tokens on the market in CAKE. PancakeSwap will benefit from wider usage capability of their token, making this partnership one that will increase the growth of both projects. In the future, users can expect to see further benefits from this partnership, and potentially even more currencies being made available on Crypto.com.

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Wilfred Victor

Ace finds himself as a blockchain enthusiast who is focused on growing with the entire crypto sector. He is an energetic and passionate writer who believes that all things are achievable.