When you are looking for a safe platform to swap ETH to CAKE, you will notice one detail. While Ethereum is supported by all exchange platforms, CAKE is significantly less popular. So, even though the first cryptocurrency in the pair is found everywhere, due to the low popularity of the second one, you might struggle to find a place where you can perform your swap.
Pay Attention to Instant Exchange Services
That’s why we would like to draw your attention to instant exchange services. There, the majority of coins are supported. For sure, you can find CAKE there, too.
To swap your coins safely and with comfortable conditions, you need to choose a reliable platform with an impeccable reputation.
So, choose a service that provides a top safety level for your funds and your personal information. Check whether the website is protected. If it starts with https, where “s” means “secure”, you can entrust the service with your data and money. If the website URL starts with http only, we recommend to keep your funds away from such a service.
Once the right website is found, check how the platform deals with complaints. It is easy. Check reviews online, make sure you understand what users have complained about, and have a look at how a company’s representative communicates with unhappy clients. Finally, make sure that a resolution was offered to everybody who was unhappy with the service, for one or another reason.
Now, make sure you understand what you can expect from an instant exchange. There are both benefits and drawbacks.
Benefits:
– No mandatory account registration and verification.
– Limitless transactions.
– The best rates in the market.
– Non-custodial services.
– Easy-to-use interface, and some other if you still register an account.
Along with benefits, you are going to face some challenges, too. So, instant platforms usually do not offer the service of a wallet. You need to have your wallet to both send Ethereum and receive CAKE – one of coins that pays cryptocurrency dividends to its holders. So, with it, you can even start getting some passive income even though for now, it is not as high as many CAKE holders would want to have.
The absence of the wallet means that the platform provides real non-custodial services, doesn’t access your funds and doesn’t store them.
How to Swap ETH to CAKE
The exchange process on every instant exchange service is very easy. All you need to do is to move to the page with the exchange widget, and perform a standard procedure:
– Provide the coins to sell and to purchase, indicating the amount you’d want to sell.
– Indicate the wallet address to which you are going to receive the swapped coins.
– Make the needed deposit to the wallet provided by the platform.
– Receive the funds. If you want, you might download a transaction receipt – this option is offered by some exchanges.
Now, when you know where and how to exchange your cryptocurrencies, you can choose a prefect service for you, and start earning from every swap you make.