PancakeSwap is a popular crypto trading app with access to many cryptos. UAE traders use PancakeSwap because of its reliable services and crypto trading tools. This decentralized exchange (DEX) lets traders swap BEP-20 tokens. BEP-20 tokens operate on top of the Binance blockchain and don’t have their own blockchain. PancakeSwap uses the Binance Smart Chain instead of the Ethereum blockchain.
The PancakeSwap platform has an impressive 24-hour trading volume of over $100 million. It is the leading DEX on Binance blockchain and offers many advantages. This article discusses the top 5 most promising cryptocurrency to buy on PancakeSwap.
Best Cryptos To Buy On PancakeSwap In The UAE
The best cryptos to buy on PancakeSwap in the UAE are Lucki Block, PancakeSwap, SafeMoon, Binance USD, and Floki Inu. Each coin has the potential of attractive rewards and offers fast transactions within the network.
Lucky Block (LBLOCK)
Lucky Block (LBLOCK) is a popular coin with the PancakeSwap app. It is the native token of the Lucky Block platform. LBLOCK is essential for many tasks within the Lucky Block ecosystem. This coin is available on PancakeSwap and offers attractive rewards to all token holders.
The Lucky Block ecosystem is different from other blockchains. It lets traders buy lotto tickets, and it distributes jackpots with a Lucky Block contract address. It functions as a real-world gambling system and offers global lottery games with its custom token. Lucky Block token holders receive rewards by holding the token and not selling. Each lotto jackpot offers a 10% incentive to all token holders. These payments are attractive and provide impressive revenue gains.
PancakeSwap (CAKE) is the native coin of the PancakeSwap platform. It is a well-performing token on the Binance blockchain technology. It lets users stake CAKE, the direct competitor of the Uniswap coin (UNI). CAKE is a utility token and has different roles in the PancakeSwap ecosystem.
All coins on the PancakeSwap exchange come with liquidity pools. This lets projects provide valuable trading conditions for their coins. UAE traders invest in CAKE tokens because of their impressive revenue gains. The CAKE token is a billion-dollar asset class and offers attractive rewards to UAE traders.
SafeMoon (SFM) is another crypto coin available with the PancakeSwap app. Creators designed SafeMoon (SFM) to offer incentives to long-term holders. It is a versatile token and charges sellers a 10% fee, part of which goes back to existing holders.
SFM tokens use the Binance Smart Chain blockchain. Its market cap in 2021 was around $1.3 billion. The SafeMoon coin is new and has an impressive market evolution. SFM offers discounts and incentives for users who hold it in their accounts. The SafeMoon digital asset project is popular because of its transaction speeds and versatility.
Binance USD (BUSD)
Binance USD (BUSD) is a stablecoin created by Paxos and Binance. UAE traders buy and sell it on the PancakeSwap platform. It is one of the few digital assets that follows the strict regulatory standards of the New York State Department of Financial Services (NYDFS.) There are many cryptocurrency exchanges and wallets that support BUSD, including PancakeSwap.
The Binance USD is a USD-denominated coin approved by the NYFDS. BUSD uses the Ethereum network and has an impressive performance. It stands out from other digital tokens because the Binance global exchange supports it. Binance uses a US dollar reserve on a 1:1 basis.
Floki Inu (FLOKI)
Floki Inu (FLOKI) is a popular meme coin on the Shiba Inu framework available on PancakeSwap. This token uses both the Binance Smart Chain network and the Ethereum blockchain. Floki Inu has a supply of 10 trillion coins.
FLOKI token is present on the decentralized exchanges PancakeSwap and Uniswap. It has a good performance, and many crypto enthusiasts include it in their portfolios. Its market cap continues to grow, and it is a useful digital currency, especially for Floki Inu projects.
How To Buy Cryptocurrencies On PancakeSwap
UAE traders buy cryptocurrencies on PancakeSwap with a PancakeSwap account and Trust Crypto Wallet. Here are the steps you need to follow to buy cryptos with this trading app.
- Download Trust Wallet: The first step for UAE traders is to download the Trust Wallet. It is available on iOS and Android devices for free.
- Transfer BNB: Next, you need to fund your wallet with BNB. Tokens available with PancakeSwap use the Binance Smart Chain. They use the BNB native token as the primary funding method.
- Connect To PancakeSwap: Your Trust Wallet lets you connect your PancakeSwap account. Click the dApps Menu and search for PancakeSwap. Authorize the connection and link the PancakeSwap exchange to your wallet.
- Buy Cryptos: Next, the app will let you exchange BNB tokens for other cryptos available on the exchange. Choose the tokens you want to buy, and click on the “Swap” button.
PancakeSwap is a popular crypto trading app and exchange in the UAE. UAE traders use this platform because of its competitive prices. PancakeSwap uses industry-leading safety measures for all its accounts. It offers access to promising cryptocurrency and cryptocurrency markets. Traders in the United Arab Emirates need to use secure apps and exchanges for crypto trading. Our comprehensive reviews offer insights on how to buy cryptocurrency in the UAE.
Business24-7 aims to help those interested in cryptocurrency make safe and informed investing decisions. We are dedicated to offering our readers unbiased reviews of leading cryptocurrency exchanges for traders at all levels. Cryptocurrency exchanges are included in our reviews if they are safe, liquid, regulated by proper authority, or decentralized.
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.