15 steps for Staking Cake on Pancake Swap

Staking Pancake Swap using Cake and earning fat yields

Here is how you stake Cake on Pancake Swap in 15 steps.

  1. Sign up for Coinbase Pro
  2. Attach your bank account to Coinbase Pro.
  3. Purchase $1000.00 worth of Ethereum
  4. Download Trust Wallet App on your phone
  5. Add the Dapp browser to Trust Wallet if using IOS.  Go to trust://browser_enable in Safari and choose Trust Wallet
  6. Send your Ethereum from Coinbase Pro to your Trust Wallet
  7. Use the Binance Bridge at Binance.org to send your Ethereum to your Binance Smart Chain Trust wallet in the form of Pegged Ether.  You will be given the option to convert some to BNB.  You should convert 1 BNB.
  8. Use the Dex inside the Trust wallet to convert .95 BNB to Smart Chain BNB.
  9. Use the dapp browser that you enabled in Trust wallet and go to Pancake Swap.
  10. Convert your pegged Ether to Cake using Pancake Swap.
  11. Convert some of your Smart Chain BNB to Cake but leave at least $30 for transactions fees.
  12. Click on the Syrup Pools on the left and the top option will be Compounded Cake.
  13. Click Enable on the Cake Staking pool of your choice.  We suggest Auto Compound.  Clicking enable will create a small transaction about 20 cents to enable the pool. 
  14. Add your Cake to the pool which should cost about 50 cents
  15. Watch your compounding yield grow.

Our favorite Chain right now is Binance Smart Chain and we love staking Cake.  You can easily stake Cake using our Safepal S1 wallet if you don't want to use a hot wallet like Trust.  With the most recent update, you can also use the D'Cent by IoTrust to stake Cake at Pancake Swap

For those of you in the United States you might have trouble following these directions.  Binance.org does not work if Binance thinks you are using your computer inside the United States.  If Binance.org thinks you are somewhere else, Binance will let you complete a transaction using their Dex.  If you are located somewhere else or go on vacation you should be able to access the Dex.

If all of this sounds complicated and you would like one on one help, we offer consulting services.  We can help you over Zoom.  We can adapt the plan for different Fiat to Crypto paths other than Coinbase.  Please contact us for a quote. 

We will never ask for your private keys and you should never tell us or anyone else your private key.

The following countries are unable to access the Bridge. 

  • United States of America
  • Albania
  • Bosnia and Herzegovina
  • Belarus
  • Congo 
  • Côte d'Ivoire
  • Crimea
  • Cuba
  • Iraq
  • Iran
  • North Korea
  • Liberia
  • Macedonia
  • Myanmar
  • Serbia
  • Sudan
  • Syria
  • Zimbabwe

 

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