No Regulation

Score

0123456789.01234567890123456789
/10

PancakeSwap

China

|

2-5 years

Suspicious Regulatory License|

Medium potential risk|

https://pancakeswap.finance/

Website

Yesterday Vol
7 Days
Rating Index
Influence

Influence

AAA

Influence Index NO.1

Russia 7.92

Better than 98.88% exchange(s)

Biz Area

Search Statistics

Advertising

Social Media Index

Influence
AAA

Licenses

No effective regulatory information has been founded yet, please pay attention to the risks!

Exchange Info

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Company Name
PancakeSwap
Phone of the company
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Facebook
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Customer Service Email Address
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WikiBit Risk Alerts

1
Previous Detection 2024-02-25

It has been verified that this Exchange currently has no valid regulation, please be aware of the risk!

Website

Genealogy

Social Media

Trade Type

Keywords

Time Machine

White Paper

Related Software

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All Corps

New Arrival

Vol Stat

Influence

Yesterday Vol

7 Days

By company

$ 374,675

$ 374,675

34.27%

$ 189,775

$ 189,775

17.35%

$ 145,634

$ 145,634

13.32%

$ 70,063

$ 70,063

6.4%

$ 64,090

$ 64,090

5.86%

$ 52,365

$ 52,365

4.78%

$ 47,313

$ 47,313

4.32%

$ 27,615

$ 27,615

2.52%

$ 25,957

$ 25,957

2.37%

$ 19,595

$ 19,595

1.79%

$ 10,639

$ 10,639

0.97%

$ 7,707.67

$ 7,707.67

0.7%

$ 7,248.97

$ 7,248.97

0.66%

$ 4,234.91

$ 4,234.91

0.38%

$ 3,642.89

$ 3,642.89

0.33%

User Reviews

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17 ratings

Participate in evaluation
Tomande
Any explanation why pancakeSwap in PNG just left us in suspense?
2023-04-27 15:51
0
0
BIT3521326497
pancakeswap customers in Papua New Guinea stranded left high and dry when trading account Admin shuts down and disappear, all mining pools wipe out last night 🙏
2023-04-27 10:28
0
0
Araminah
PancakeSwap is a decentralized exchange that lets you trade with lower fees than many rival exchanges. It also lets you earn interest on your crypto assets by staking or lending them.
2023-09-10 07:43
5
0
aal273
pretty easy to use for people new to crypto
2023-08-24 10:27
7
0
odifleur
my first swap experience was using pancake. i thought it would be complicated but turned out it was simple and quick
2023-09-05 11:58
1
0
Zekei
pancakeswap have best token ever!!
2023-08-24 13:05
0
0
Zero1899
slippage tolerance on pancakeswap is high
2023-08-24 10:33
7
0
odifleur
my first swap experience was using pancake. i thought it would be complicated but turned out it was so simple and quick!
2023-08-23 16:01
2
0
Nabila.pj
I've bought tokens on pancakeswap several times and I think it's pretty easy
2023-08-24 00:13
9
0
Takkun
I use it as an exchange only, it's good enough and the process is fast enough with a small fee
2023-08-24 14:52
7
0
Deukaewin
I think this is the best exchange to swap, cause its easy to use than other exchange. But i dont know why the rate is so low
2023-09-07 12:32
4
0
lino_act
As always, best place for trade new coin.
2023-09-05 09:00
9
0
Matriks
A place to trade tokens with a small mcap.
2023-08-22 18:03
1
0
abitofcrypto
by far the easiest dex to use!
2023-08-25 08:36
3
0
melove
Very convenient and easy to use, exchange becomes more flexible via pancakes, I LOVE IT
2023-08-25 07:48
3
0
melove
very easy and convenient to use, the exchange becomes faster 😎
2023-08-25 07:42
7
0
ゝ小青年
Cannot exchange. Keep prompting this picture.
2021-10-07 09:05
0
0

PancakeSwap · Company Summary

Exchange Name PancakeSwap
Registered Area China
Founded Year 2020
Regulatory Agency Unregulated
Cryptocurrencies Available 60+
Trading Fees 0.20%
Customer support Twitter: https://twitter.com/pancakeswap, Blog: https://blog.pancakeswap.finance/, and Instagram https://www.instagram.com/pancakeswap_official/

Overview of PancakeSwap

PancakeSwap is a decentralized exchange (DEX) that operates on the Binance Smart Chain (BSC), offering users the ability to trade and provide liquidity for an array of BEP-20 tokens. With a focus on efficiency and user control, PancakeSwap employs automated market makers (AMMs) to facilitate trading while incentivizing liquidity provision through attractive yield farming opportunities and NFT rewards. Despite its accessibility, PancakeSwap's integration with the Binance Smart Chain and decentralized finance (DeFi) features implies a certain level of familiarity with blockchain concepts for optimal use.

Overview of PancakeSwap

Pros and Cons

PROS CONS
Relatively lower trading fees Not suitable for beginners
A variety of NFTs available No native wallet and complicated BSC process
Opportunity to develop projects in BSC community Complicated staking process
Provides lottery entry with 50% prize Unregulated

Pros:

Relatively Lower Trading Fees: PancakeSwap stands out for offering relatively lower trading fees compared to some other decentralized exchanges. This can be appealing to traders looking to minimize transaction costs and maximize their returns.

A Variety of NFTs Available: PancakeSwap provides users with access to a wide range of Non-Fungible Tokens (NFTs). This allows traders and collectors to explore and engage with various digital assets, contributing to the platform's versatility.

Opportunity to Develop Projects in the BSC Community: PancakeSwap operates on the Binance Smart Chain (BSC), fostering a vibrant and active community. This creates an environment conducive to project development, collaborations, and networking within the BSC ecosystem.

Provides Lottery Entry with 50% Prize: The platform offers a unique feature by providing users with the opportunity to participate in lotteries with a chance to win a 50% prize. This adds an element of excitement and potential rewards beyond regular trading activities.

Cons:

Not Suitable for Beginners: PancakeSwap may not be the most user-friendly platform for beginners. The decentralized nature and the complexity of certain processes on the Binance Smart Chain might pose challenges for those new to cryptocurrency trading.

No Native Wallet and Complicated BSC Process: The absence of a native wallet on PancakeSwap, coupled with a complicated Binance Smart Chain (BSC) process, could be a drawback. This might lead to a less streamlined user experience, especially for those who prefer an all-in-one solution.

Complicated Staking Process: Staking on PancakeSwap might be considered complicated by some users. The intricacies of the staking process may deter individuals who seek simplicity and ease of use in managing their crypto assets.

Unregulated: PancakeSwap operates in an unregulated environment. While decentralized exchanges are known for their autonomy, it's crucial for users to be aware that the lack of regulation might expose them to certain risks, including potential fraud or security issues. Traders should exercise caution and conduct thorough research before engaging in transactions on unregulated platforms.

Regulatory Authority

PancakeSwap operates as an unregulated virtual currency exchange, meaning it does not have a regulatory authority overseeing its operations. The disadvantage of an unregulated exchange is that it may lack the same level of security and compliance measures as exchanges that are regulated. This can raise concerns for users who prioritize the safety of their funds and personal information.

For traders utilizing an unregulated exchange like PancakeSwap, it is important to be aware of the potential risks involved. Without the oversight of a regulatory authority, there may be limited recourse in the event of disputes or fraudulent activities. Traders should thoroughly research and understand the exchange's terms and conditions, as well as any potential risks associated with using an unregulated platform.

Security

Decentralized Exchange Servers, such as PancakeSwap, distinguish themselves from centralized counterparts through their globally distributed server infrastructure. Unlike centralized exchanges that often concentrate on server locations, DEXs disperse servers globally. This strategic distribution not only minimizes the risk of server downtime but also renders DEXs less susceptible to malicious attacks. In the decentralized network of a DEX, the impact of taking down one server is minimal compared to the potentially significant damage that compromising a server in a centralized exchange could entail.

When it comes to asset handling and security, DEX trades operate on a unique principle – the exchange doesn't directly handle users' assets. Even in the event of a DEX being hacked, the hacker wouldn't gain access to users' assets due to this separation. This stands in contrast to centralized exchanges, where assets are often held by the exchange until users choose to withdraw them to a private wallet. The consequence of a hack on a centralized exchange could result in the loss of funds stored directly on the platform.

In the realm of protection against hacks, DEXs offer an added layer of security precisely because they don't hold users' assets and maintain a globally distributed server structure. In the unfortunate event of a successful hack on a centralized exchange, the thief could potentially abscond with assets stored on the exchange. In contrast, decentralized exchanges like PancakeSwap provide enhanced security, leveraging the decentralized nature of their network to safeguard users against the risks associated with centralized platforms. This added security layer becomes particularly crucial in the ever-evolving landscape of cryptocurrency trading.

Trading Market

PancakeSwap, a decentralized exchange on the Binance Smart Chain (BSC), offers a multifaceted ecosystem for various aspects of cryptocurrency engagement.

At its core, PancakeSwap facilitates Token Swaps, enabling users to seamlessly exchange one cryptocurrency for another directly. Utilizing an automated market maker (AMM) model, the platform diverges from the traditional order book approach, allowing users to trade against liquidity pools. The supported currencies span a broad spectrum of tokens built on the BSC, including popular ones like CAKE, BNB, BUSD, USDT, and many more.

Liquidity Pools represent another integral component, empowering users to contribute their cryptocurrency holdings to these pools. By doing so, they facilitate asset swaps for others while earning passive income in return. The income stems from trading fees paid by users engaging in crypto swaps on the platform. Liquidity providers receive liquidity provider (LP) tokens, symbolizing their share of the pool, which can be withdrawn at a later time.

PancakeSwap extends its offerings to Yield Farming, where users can stake their assets in staking pools to accrue additional rewards. These rewards may come in the form of platform tokens like CAKE, other cryptocurrencies, or even Non-Fungible Tokens (NFTs). Different pools present varying yields and lock-up periods for staked assets, allowing users flexibility in choosing the most suitable options.

Syrup Pools emerge as a specific avenue within the PancakeSwap ecosystem, dedicated to earning CAKE tokens. Users can stake LP tokens or other supported cryptocurrencies in Syrup pools to garner CAKE rewards. These pools often operate within limited timeframes and may have specific staking requirements, providing users with opportunities to earn CAKE tokens under distinct conditions.

Furthermore, PancakeSwap ventures into the realm of Non-Fungible Tokens (NFTs) by offering a marketplace. Users can explore, buy, and sell NFTs built on the BSC, creating a dynamic space for digital art and collectibles. Additionally, users have the chance to list their own NFT creations for sale and participate in auctions, contributing to the vibrant NFT ecosystem within PancakeSwap.

Trading Market

Community

Pancake Protector is an exciting tower-defense game set in the Syrupland Kingdom, challenging players to defend against Syrup Monsters. The game involves collecting and upgrading Pancake Heroes, constructing towers, and casting spells to overcome waves of enemies. Noteworthy features include a play-to-earn mechanism, allowing players to earn CAKE, PancakeSwap's native token, through quests, enemy defeats, and PvP battles. Additionally, NFT integration introduces unique abilities and benefits through collectible Pancake Heroes. The guild system promotes cooperation among players, providing opportunities for rewards and participation in guild wars. Regular updates ensure a dynamic gaming experience with fresh content, features, and events.

On the other hand, Pancake Mayor presents a city-building simulation where players create and manage their own Pancake City. This involves constructing diverse buildings like houses, restaurants, and factories to generate resources and attract citizens. Player engagement extends to managing citizen happiness and productivity by offering food, jobs, and entertainment. Completing quests allows players to earn rewards and advance in the game, while competition with other players adds a competitive element as they vie for the title of the best mayor.

Both Pancake Protector and Pancake Mayor not only provide entertainment but also offer opportunities for players to earn CAKE and other rewards. Moreover, these games serve as an enjoyable way for players to delve into decentralized finance (DeFi) and gain insights into blockchain technology.

Community

PancakeSwap APP

The PancakeSwap APP offers a range of features designed to enhance the cryptocurrency trading experience. It provides a secure trading platform, allowing users to execute trades confidently on the go, ensuring the safety of their digital assets. With real-time market data, users can access up-to-date information on market trends, prices, and charts for various cryptocurrencies.

The app boasts a user-friendly and intuitive interface, making navigation and trading activities seamless. Users can actively monitor their portfolios in real time, track investment performance, and utilize advanced charting tools for in-depth technical analysis.

How to Download PancakeSwap APP:

1.Open App Store: Launch the App Store on your Apple device.

2. Search for PancakeSwap: In the search bar, type “PancakeSwap” and press enter.

3. Select the Official App: Choose the official PancakeSwap app from the search results.

4. Download and Install: Tap on the “Get” button to download and install the app on your device.

5.Open the App: Once the installation is complete, open the PancakeSwap app from your device's home screen.

PancakeSwap APP

How to Buy Cryptos

Through another cryptocurrency exchange: Purchase Bitcoin (BTC), Binance Coin (BNB), Binance USD (BUSD), Tether (USDT), or another cryptocurrency supported by PancakeSwap on a centralized exchange like Coinbase, Binance, or Kraken. Transfer the purchased crypto to a BSC-compatible wallet like MetaMask, Trust Wallet, or Binance Chain Wallet. Connect your wallet to PancakeSwap through the “Connect Wallet” button on the platform. Use the connected wallet to swap your existing crypto for the desired token on PancakeSwap.

Using fiat gateways: Some platforms like MoonPay or Simplex provide fiat-to-crypto gateways directly within PancakeSwap. These options allow you to purchase crypto using credit cards, debit cards, or bank transfers through a secure interface within the DEX.

Peer-to-peer (P2P) platforms: You can explore peer-to-peer platforms like Binance P2P or Bisq to connect directly with sellers and purchase crypto using various payment methods like cash, bank transfers, or mobile payments. P2P trading offers more flexibility with payment options but requires you to negotiate terms and manage the transaction directly with the seller.

Cryptocurrencies Available

PancakeSwap offers a wide range of cryptocurrencies for trading and liquidity provision. Users can engage with various tokens across different blockchain ecosystems. The platform is particularly known for its support of BEP-20 tokens, which are based on the Binance Smart Chain (BSC). This allows for a wide selection of tokens, including popular and emerging cryptocurrencies, enabling users to explore and diversify their portfolios.

Cryptocurrencies Available

Fees

In the realm of centralized exchanges, trading fees are often categorized into taker fees, charged to those accepting existing orders, and maker fees, applied to those placing new orders. Alternatively, exchanges may adopt “flat” fees, where both takers and makers pay the same charge.

Decentralized exchanges, on the other hand, frequently opt for zero trading fees. This is a key argument used by DEX proponents to advocate for the decline of centralized exchanges.

PancakeSwap stands apart from the “no fee” exchanges, imposing a uniform 0.20% fee per transaction, irrespective of whether you're a maker or a taker. In comparison to the broader DEX landscape, these fees rank slightly above the industry average.

How to Open an Account?

Choose a BSC-compatible wallet: PancakeSwap runs on the Binance Smart Chain (BSC), so you need a wallet that supports it. Popular options include Metamask, Trust Wallet, Binance Chain Wallet, and SafePal. Download and install the chosen wallet on your preferred device (mobile or desktop).

Set up your wallet: Follow the prompts within the chosen wallet app to create a new wallet or import an existing one. This usually involves creating a strong password and backing up your recovery phrase.

Fund your wallet: You can buy cryptocurrency like Binance Coin (BNB) or Binance USD (BUSD) on a centralized exchange like Coinbase or Binance and then transfer it to your BSC wallet. Alternatively, some platforms like MoonPay or Simplex offer fiat-to-crypto conversion directly within PancakeSwap.

Connect your wallet to PancakeSwap:

1. Visit the PancakeSwap website (pancakeswap. finance) or navigate to it within your wallet app.

2. Click the “Connect Wallet” button and choose your preferred wallet from the options available.

3. Follow the on-screen instructions to authorize the connection between your wallet and the platform.

You're ready to go!: Once connected, you can explore all the features of PancakeSwap, including swapping tokens, staking, providing liquidity, participating in yield farming, and more.

Fees

In the realm of centralized exchanges, trading fees are often categorized into taker fees, charged to those accepting existing orders, and maker fees, applied to those placing new orders. Alternatively, exchanges may adopt “flat” fees, where both takers and makers pay the same charge.

Decentralized exchanges, on the other hand, frequently opt for zero trading fees. This is a key argument used by DEX proponents to advocate for the decline of centralized exchanges.

PancakeSwap stands apart from the “no fee” exchanges, imposing a uniform 0.20% fee per transaction, irrespective of whether you're a maker or a taker. In comparison to the broader DEX landscape, these fees rank slightly above the industry average.

Is PancakeSwap a Good Exchange for You?

PancakeSwap is the best exchange for DeFi enthusiasts and yield farmers looking to maximize token rewards. Its array of staking pools, liquidity provision opportunities, and innovative features like Syrup Pools cater specifically to those seeking passive income and exposure to emerging projects within the Binance Smart Chain ecosystem.

Small-volume traders: Unlike some centralized exchanges with high minimum trade amounts, PancakeSwap allows trades with tiny fractions of tokens, making it suitable for testing the waters or diversifying portfolios with minimal capital. It eliminates the need for fiat conversions, reducing fees and simplifying the process for users unfamiliar with traditional exchange order books.

Algo traders: PancakeSwap offers a robust API that allows experienced traders to develop automated trading strategies (bots) to capitalize on arbitrage opportunities or technical analysis signals within the DEX. Third-party tools can help analyze and optimize gas fees, a crucial factor for maximizing profits in high-frequency algorithmic trading.

Niche token seekers: PancakeSwap often lists newly launched tokens on the BSC before they appear on larger exchanges, offering early access for traders interested in potentially high-growth opportunities. Beyond popular coins, PancakeSwap hosts a vast array of smaller-cap tokens and projects applying to specific niches or functionalities within DeFi, allowing traders to explore lesser-known investment options.

Conclusion

To sum it up, PancakeSwap has its strengths and challenges. It's good for traders who want lower fees, but it might be tricky for beginners due to its complexity. Navigating the Binance Smart Chain process can be a bit tough, especially without a native wallet.

On the positive side, PancakeSwap offers a bunch of cool NFTs for art and collectibles enthusiasts. Plus, you can get involved in the BSC community by developing projects. However, staking on PancakeSwap might be a bit complicated for some users.

There's also a lottery entry with a chance to win a big prize, which adds some excitement. But keep in mind, that PancakeSwap operates in an unregulated space, so there's a level of risk involved. In a nutshell, PancakeSwap has unique features, but it's essential to consider your experience level and preferences before diving in.

FAQs

Q: How does PancakeSwap differ from traditional exchanges?

A: Unlike traditional exchanges, PancakeSwap operates in a decentralized manner, ensuring users maintain control of their funds. It employs automated market makers (AMMs) for trading, making it accessible and efficient.

Q: Can I earn rewards by providing liquidity?

A: Yes, PancakeSwap incentivizes liquidity providers with high rewards, allowing users to earn a portion of trading fees and additional tokens.

Q: Is PancakeSwap suitable for beginners?

A: While it offers user-friendly interfaces, PancakeSwap's use of the Binance Smart Chain and various DeFi features might require some familiarity with blockchain concepts.

Q: What cryptocurrencies can I trade on PancakeSwap?

A: PancakeSwap supports various BEP-20 tokens, providing a wide range of trading options beyond mainstream cryptocurrencies.

Q: How do I participate in PancakeSwap's lotteries?

A: Users can enter PancakeSwap's lotteries by purchasing tickets with CAKE tokens. A portion of these tokens contributes to the lottery pool, and winners are randomly selected.

Q: Can I develop my own projects on PancakeSwap?

A: Yes, PancakeSwap encourages community involvement and allows developers to launch projects on the Binance Smart Chain, fostering innovation within the ecosystem.

User Review

User 1: PancakeSwap's been a go-to for me. Security's decent, but wish they'd share more on regulations. Interface rocks - smooth trades and clear data. Liquidity is usually good, but some lesser-known tokens can be iffy. Huge plus - tons of cryptocurrencies to explore. Support was responsive, and had my issues resolved. Fees are reasonable for convenience. The deposit speed's cool, but withdrawals can take a bit.

User 2: PancakeSwap's my crypto playground. Security's good, but unsure about regulations. The interface is user-friendly, and I can trade without headaches. Liquidity's solid, quick swaps most times. Their range of cryptos? Awesome, from known to niche. Support's helpful, they got my back. Fees are fair for the service. Deposits are speedy, but withdrawals could be snappier. Overall, a reliable and stable exchange.

Risk Warning

There are inherent security risks associated with investing in cryptocurrency exchanges. It is important to understand these risks before making such investments. Cryptocurrency exchanges are vulnerable to hacking, fraud, and technical glitches, which can lead to the loss of funds.

It is recommended to choose a reputable and regulated exchange, keep abreast of security measures, and be vigilant in detecting and reporting any suspicious activity. Please ensure that you understand the risks involved and note that the information contained in this article is for general information only.

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