Last updated on September 21st, 2021
Pancakeswap is a decentralised exchange that allows you to easily swap between cryptocurrencies.
The CAKE token has become quite popular, and with an increase in trading volume, its prospects look very promising.
However, there are not many crypto exchanges that offer CAKE on their platform! You still can consider some of these options below:
How to buy Pancakeswap in Singapore
Here are 5 ways that you can buy Pancakeswap in Singapore:
- Crypto.com (App)
This is a summary of all of these methods,
|None (but may
have large spread)
|Up to 0.1%
|Up to 0.1%
|Up to 0.1%
and here is each method explained in-depth:
You can’t buy CAKE directly from SGD on Crypto.com. Instead, you’ll need to make at least 2 trades to buy CAKE.
How to buy CAKE on Crypto.com
Here are the steps you’ll need to do to buy CAKE on Crypto.com:
- Go to Crypto Wallet
- Scroll down and find CAKE
- Click on ‘Buy CAKE’
- Select your payment method
- Confirm the trade
#1 Go to Crypto Wallet
You’ll need to access your crypto wallet on the Crypto.com app.
This can be done by tapping on the central icon and going to ‘Crypto Wallet‘.
#2 Scroll down and find CAKE
If you don’t have any CAKE in your Crypto.com wallet, you’ll need to scroll down to find the currency.
It may take a while to find it, as Crypto.com does not have a search function!
#3 Click on ‘Buy CAKE’
You will be on the CAKE price page. You’ll need to tap on ‘Buy CAKE‘ to make the trade.
#4 Select your payment method
Since you are using the Crypto.com App, you can only buy CAKE at the prevailing market rate.
This is different from the Crypto.com Exchange, which allows you to trade CAKE with other traders.
There are 3 payment methods that you can use to buy CAKE on Crypto.com:
1. Debit or credit card
You can use either a credit or debit card to purchase CAKE directly.
This would probably the most efficient way of buying CAKE. However, you will be charged a 3.5% fee if you’re from Singapore!
Due to this high fee, it may not be worth buying CAKE using your credit or debit card.
2. Crypto wallet
If you have other cryptocurrencies in your crypto wallet, you can use this to trade for CAKE.
3. Fiat wallet
The final way that you can buy CAKE on Crypto.com is via a fiat wallet.
Fiat money is government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issued it.Investopedia
You can only buy CAKE from either a EUR or AUD fiat account.
This is because there are only 8 cryptocurrencies that you can purchase from Xfers:
If you want to buy CAKE with SGD, here are the steps that you’ll need to do:
- Buy CRO or BTC with SGD from your fiat wallet
- Purchase CAKE from CRO or BTC using your crypto wallet (method 2)
#5 Confirm the trade
When you confirm the details, Crypto.com will lock in the exchange rate for 15 seconds.
Once you confirm the trade, CAKE will be credited to your account.
Here are the fees that you’ll incur with Crypto.com:
|Type of Fee
The fees when trading with Crypto.com seem to be lower! However the spreads can be quite high.
A spread in trading is the difference between the buy (offer) and sell (bid) prices quoted for an asset.IG Trading
When you make multiple trades on the Crypto.com app, you may lose some money due to the spread!
These costs can be hard to keep track, but it is something you’ll need to consider.
The Crypto.com App is very convenient as you can buy CAKE with SGD. This is in contrast to the other platforms which do not support SGD!
Atom Asset Exchange (AAX) was founded in 2018, and is based in Hong Kong.
This exchange allows you to deposit SGD into your account. However, you can only trade SGD into BTC or USDT!
This means that you’ll need to make 2 conversions before you can get CAKE.
Here’s what you need to do to buy CAKE on AAX:
- Deposit SGD into AAX
- Use the Exchange feature to exchange SGD to USDT
- Find the CAKE/USDT trading pair
- Make the trade
#1 Deposit SGD into AAX
First, you’ll need to deposit SGD into your AAX account.
You will need to deposit a minimum of $50 into your account. However, if you deposit less than $1.5k, you will incur a $35 deposit fee!
#2 Use the Exchange feature to exchange SGD to USDT
Once you have your SGD into your account, you’ll need to go to ‘Buy Crypto → Exchange‘.
The Exchange platform allows you to buy USDT from your SGD.
AAX does not charge any fees for this conversion. However, the exchange rate may be slightly less favourable compared to the market rate.
#3 Find the CAKE/USDT trading pair
Once you’ve exchanged your SGD for USDT, you can now go to AAX’s trading platform.
This can be done by selecting ‘Spot’ on the menu.
After that, you’ll need to select a trading pair with CAKE.
#4 Make the trade
After selecting CAKE/USDT as your trading pair, you’ll need to decide on the order type:
- Stop order
You’ll also need to enter the details of the trade you wish to make.
- The price of USDT you want to buy 1 CAKE at
- The amount of CAKE you wish to buy
Once the trade has been filled, CAKE will be credited into your account.
Here are the fees and minimums when you’re trading on AAX:
|$35 if deposit < $1500,
none if deposit ≥ $1500
|Up to 0.1%
|0.3% (Minimum $10)
|Depends on currency
If you want to save on the deposit fees, you’ll have to deposit at least $1.5k into your AAX account each time!
However, you’ll still need to make 2 trades to get CAKE!
I would think that AAX is suitable only if you intend to trade a large amount of crypto.
The remaining exchanges do not support SGD
For the next few methods, they do not allow you to deposit SGD into their exchanges.
This means that you’ll have to buy a cryptocurrency from one exchange, and then send it to these exchanges.
However, you’ll need to consider the withdrawal fees that you’ll incur when sending your crypto on the blockchain.
Depending on the fees, it can be really hefty!
You can consider using Gemini’s Active Trader, which charges a rather low 0.35% trading fee. You are able to purchase either BTC or ETH from Gemini.
After that, you can send your BTC or ETH to any of the exchanges below. You will not be charged any withdrawal fees for up to 10 withdrawals per month.
Binance is one of the largest crypto exchanges in the world. You are able to trade many cryptocurrencies on their platform.
You can’t buy CAKE using a credit card, nor directly from SGD. As such, you’ll need to use the altcoin method to buy this currency.
First, you’ll need to buy crypto from another exchange, and then deposit it into Binance.
The best currencies to deposit are BTC or USDT. This is because they have the most trading pairs available.
When you deposit your crypto, you’ll need to make sure that the address you’re sending to is correct.
If not, your crypto may be lost forever!
You can consider using the Binance P2P platform too
Instead of sending crypto from another platform, you can consider using Binance’s P2P platform as well.
This platform allows you to buy crypto from SGD, such as:
Most of these currencies will have a trading pair with CAKE.
Using this method will help you to save on sending fees. However, there may be scammers that are on the platform.
As such, you’ll need to be very careful with who you’re trading with!
Make the trade from your crypto to CAKE
After depositing your crypto, you’ll have to buy CAKE on Binance’s trading platform.
Here are the trading pairs that you can trade for CAKE on Binance:
After selecting your trading pair, you can start to determine the details of your order.
You’ll need to decide on:
- The price that you’d like to buy 1 CAKE at
- The amount of CAKE you wish to buy
Once you make the trade, CAKE will be credited into your account.
Here are the fees that you’ll incur on Binance:
|Up to 0.1%
The trading fees on Binance are as low as Luno Exchange!
All of these fees will add up, and you may buy a much lower amount of CAKE than you initially expected.
Furthermore, you may need to think of the strategy you wish to use to sell your CAKE and receive SGD too.
KuCoin is another exchange that you can use to buy Pancakeswap. However, you will need to transfer a cryptocurrency from another platform first.
This is because KuCoin does not support any fiat currencies!
How to buy Pancakeswap on KuCoin
Here’s what you need to do to buy Pancakeswap on KuCoin:
- Send your crypto to the KuCoin Main Account
- Transfer your crypto to the Trading Account
- Find a suitable trading pair
- Select the price and quantity to buy CAKE
#1 Send your crypto to the KuCoin Main Account
KuCoin only supports 1 trading pair with Pancakeswap: CAKE/USDT.
As such, you will need to deposit USDT into your KuCoin account!
To deposit either coin into KuCoin, you will need to go to ‘Deposit‘.
You can use the dropdown menu to select USDT.
From there, you will be given a deposit address to send your crypto to.
If you are copying the address manually, you may want to double check that it is the correct address!
#2 Transfer your crypto to the Trading Account
When you deposit your USDT into your KuCoin account, it will be transferred to your Main Account.
If you wish to trade your USDT to CAKE, you will need to transfer it to your Trading Account!
#3 Find a suitable trading pair
After you’ve transferred your crypto to your Trading Account, you can go to KuCoin’s Spot Exchange.
The exchange may seem to be rather overwhelming.
You will need to go to the top left hand corner to select the CAKE/USDT trading pair.
#4 Select the price and quantity to buy CAKE
After you’ve selected your CAKE trading pair, you can proceed to make the order.
KuCoin allows you to make 4 different orders:
- Stop Limit
- Stop Market
The last 2 things you’ll need to do is to:
- Select the price of USDT that you’d like to buy CAKE at
- The amount of CAKE that you wish to buy
When your trade is completed, CAKE will be credited into your account.
Here are the fees that you’ll incur when buying and sending CAKE on KuCoin:
|Up to 0.1%
|CAKE Withdrawal Fee
The trading fees are similar to Binance.
It may not really matter whether you choose to trade on KuCoin or Binance. However, Binance has a higher trading volume on their exchange compared to KuCoin.
Moreover, Binance has a much lower withdrawal fee too!
Bitrue is an exchange platform that is based in the US, Europe and Asia Pacific.
Here’s how you can buy CAKE on Bitrue:
- Deposit USDT or XRP into Bitrue
- Select a suitable trading pair with CAKE
- Insert the details of the trade
- Execute the trade
#1 Deposit USDT or XRP into Bitrue
Bitrue does not support SGD, so you’ll need to deposit a cryptocurrency into the exchange.
You’ll need to go to ‘Assets → Deposit‘,
and then select the currency you wish to deposit in.
You will be given a deposit address to send your crypto to.
You can choose to deposit USDT via 3 different networks:
You may want to double check the network that your original platform supports. It should most likely be ERC-20, but it’d be good for you to check again!
#2 Select a suitable trading pair with CAKE
Once you’ve deposited your crypto into Bitrue, you’ll need to go to Exchange,
which will bring you to the trading platform.
You will need to select a CAKE trading pair with either USDT or XRP.
#3 Insert the details of the trade
You are able to make 3 different order types on Bitrue:
- Trigger Order
You’ll also need to select:
- The price that you’ll pay for 1 CAKE
- The amount of CAKE you want to buy
#4 Execute the trade
Once the order has been executed, CAKE will be credited into your Bitrue account.
Here are the fees that you’ll incur when trading with Bitrue:
|CAKE Withdrawal Fee
I would still prefer to buy CAKE from those platforms first, before using Bitrue!
For the other platforms, they do not support SGD.
As such, you’ll need to transfer a currency from another platform first before you can buy CAKE on that platform!
👉🏻 Referral Deals
If you are interested in signing up for any of the products mentioned above, you can check them out below!
Crypto.com Referral (Get up to $25 USD worth of CRO)
If you are interested in signing up for Crypto.com, you can use my referral link and enter the code ‘x2kfzusxq6‘.
We will both receive $25 USD worth of CRO in our Crypto Wallet.
Here’s what you’ll need to do:
- Sign up for a Crypto.com account
- Enter my referral code: ‘x2kfzusxq6‘
- Stake enough CRO to unlock a Ruby Steel card or higher
The amount of CRO that you need to stake depends on the card you wish to get, and the currency you are staking in.
You can read more about the referral program on Crypto.com’s website.
Binance Referral (Receive 5% off your trading fees)
If you are interested in signing up for a Binance account, you can use my referral link.
You will be able to receive 5% off all of your trading fees on Binance!
Are you passionate about personal finance and want to earn some flexible income?