Best Hardware Wallet for Pancake Swap Staking
We believe that Pancake Swap and the Cake coin are the most valuable protocol in the world. They have figured out how to provide unlimited liquidity by paying a high rate on their Cake BNB LP token. There is hundreds of millions of dollars of Cake available the pool. I just checked and there is about $700 million of liquidity. Anyone who wants a Cake coin can get one but as more and more leave the pool and get staked the price should continue to go up the yield will probably go down a little but not much. Pancake Swap is emitting about 530,000 new Cake coins per day. They are burning about 5 million per week and that number is growing. If they continue the burns, there should be less and less coins in circulation each Monday when they do the burn. They don’t have much incentive to not burn and it looks like they don’t plan to change emission.
We are trying to determine the best hardware crypto wallet for staking Cake at Pancake Swap. I am writing this article and I am not sure how it is going to end. My goal is to figure out the best hardware wallet for keeping Cake staked in Pancake Swap. The wallet will need to have access to Binance Chain and the wallet will need to be able to access Dapps. I am almost positive that the Safepal wallet will do everything I need. That may be the one I end up deciding is best but I have about 10 to try out. Not all of them will be able to access Binance or use Dapps so in reality I probably only have a few to try. Once I have my options, I will figure out which feels safest. Right now the leader is Safepal. It works. It is inexpensive and I have lots of them in case mine breaks. I have about 20 on order from China right now that we are excited to put into stock.
Trust wallet has been my favorite hot wallet. Its dapp browser is great and it recognizes almost every coin and definitely it recognizes every coin I have ever needed. I am sure there are some random ones missing.
With the market going sideways, staking seems to make more sense than trading. I am not good at timing the market, but I do know how to accumulate more coins and not sell.
At this time, I believe that Cake is the safest overall option with a yield. The only question is what is the best way to do it and keep it safe.
The Trezor can attach to Metamask which can use a browser to access dapps. I am pretty sure that means that you can use the Trezor for pancake swap but not natively like you can with Trust Wallet or Safepal. I have tried out the newest version of the SecuX firmware and it doesn't appear to be able to do Binance Smart Chain Dapps. They have recently added Tron which is really cool.
Next on deck for me to try is the D'Cent, Keepkey, and Kasse. Safepal is still the clear winner.
We have a new contender that we need to consider. We were just on the Cool Wallet website and it looks like they work with Binance Smart Chain. We have a dual pack of Cool Wallets in house so we will be doing an unboxing session and trying out the Cool Wallet in the next couple of days. Cool Wallet also has a pro version coming out which we will purchase in advance and post a review as soon as we get it.