BakeryToken (BAKE) Current Price, Market Cap, How And Where To Buy BakeryToken (BAKE): Due to massive adoption of the Crypto market for the past few years, A lot of developers has come up with their crypto projects and more is still coming as far as the market continue to boom. Without wasting much of your time, we will go directly to the reason you land on our page, which is to know much about “BakeryToken” and How And Where To Buy BakeryToken.
BakeryToken has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Major Crypto Currency like Bitcoin from any fiat-to-crypto exchanges and then transfer to the exchange that offers to tradeBakeryToken.
What Is BakeryToken (BAKE)?
Launched in September 2020, BakeryToken (BAKE) is a part of the BakerySwap ecosystem. Liquidity providers are rewarded with BAKE tokens which can be used to earn a share of BakerySwap’s trading fees and to participate in voting as part of BakerySwap’s governance process.
BakerySwap is a decentralized automated market-making (AMM) protocol that is based on the Binance Smart Chain (BSC). The BAKE token is a native BEP-20 governance token on the platform.
Users have the ability to earn BAKE tokens by providing liquidity on BakerySwap, and BAKE holders can use their tokens for governance voting and to receive transaction fee dividends. The BAKE rewards are offered in several liquidity pools, initially including BTC, ETH, DOT, LINK, BUSD and BAKE versus BNB.
The current CoinMarketCap ranking is #168 as of this write up, with a live market cap of $409,403,661 USD. It has a circulating supply of 193,529,487 BAKE coins and the max. supply is not available.
Who Are the Founders of BakeryToken?
The team behind BakeryToken is an anonymous group of developers who believe in the future of decentralized autonomous organizations (DAOs).
What Makes BakeryToken Unique?
Bakery Swap runs on the Binance Smart Chain. The BAKE-BNB pool is expected to provide ten times the rewards compared to other pools.
BakerySwap, a Binance Smart Chain-based AMM, offers liquidity pools for altcoins such as LINK, DOT and others. It works through initial liquidity pools. BakerySwap has two types of liquidity pools: with BAKE rewards and without them. This is done in order to facilitate the creation of new liquidity pools by the community.
Only designated pools will have BAKE rewards. The reward multiplier for each will vary based on the value they provide to BAKE holders.
BakerySwap charges a 0.30% fee on all swaps and trades, out of which 0.25% go to liquidity providers.
The liquidity providers are then given liquidity pool tokens that represent their share of each pool. Through these tokens, they can earn a portion of the fees that are collected in the pools when removing the liquidity. Liquidity providers can then stake Bakery LP tokens to farm BAKE token rewards.
How And Where To Buy BakeryToken.
With the recent hike in the price of BakeryToken, there has been a high demand from potential investors who wish to buy and own BakeryToken, A lot of crypto investors are online trying to get the right information on how to how & where to get their BakeryToken asset as well as storing them in a secured wallet. According to data gathered from CoinMarketCap and many other crypto websites, It’s clear that Bakery Token is not available on many on many Crypto-Exchanges but as of the time of this writing Bakery Token is available on Binance, Mandala Exchange, OKEx, FTX, and Huobi Global.
NOTE THAT: BakeryToken cannot be directly purchased with fiats currency. However, You can still easily buy this coin by first buying USDT or any major Crypto Currencies like BITCOIN from any fiat-to-crypto exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy BakeryToken.
Register on Fiat_to_Crypto Exchange
Since you can’t buy BakeryToken directly with Fiat Currency, You will have to first buy one of the major cryptocurrencies (BTC, USDT, ETH). But in this case let’s consider USDT (USDT). You can perform this transaction on fiat-to-crypto exchanges, Uphold.com or Coinbase.com you can decide to use any of them as they are widely adopted in the crypto world, They are both rated among the largest crypto exchanges that accept fiat deposits in the world.
All you need to do, create account with them ( ensure you keep your password safely) after creating an account then move to the next step which is to buy USDT.
Buy USDT with fiat Currency
Once you finished with account creating and verification process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer.
PLEASE NOTE: You will be charged higher fees when using cards but you will also make an instant purchase. While a bank transfer attract lower charges but slower purchases, Though it sometimes depends on the country of your residence, some countries will offer instant cash deposit with low fees.
Transfer USDT to an Altcoin Exchange
After buying your USDT, it’s worthy of note that since BakeryToken is an altcoin that can’t be traded in all Crypto exchange, we need to transfer our USDT to an exchange that BakeryToken can be traded. Many exchanges has their own policies as some has restrictions to some countries, for example Binance does not allow investors from USA as customers. So you have to choose an exchange that suit your location and create an account with them before proceeding to the next steps.
PLEASE NOTE: It will always be advised to set up 2FA authentication as it adds extra security to your account.
Deposit USDT to Your Preferred exchange
Depends on the policies of the exchange you might be required to go through another verification process, this usually takes minimum 0f 30 minutes and a maximum of a day, After the whole verification process you are now good to go.
Since we are now transferring our previously bought USDT on Coinbase to this wallet, click on ‘Copy Address’ or right-click on the full address and click copy to grab this address to your clipboard. Now head back to Coinbase, go to Portfolio page and click on the USDT on your asset list, then click on ‘Send’ on the right.
Under the Recipient field, paste the wallet address from your clipboard, for security and accuracy reason, you should always check if both addresses are matching and Click ‘Send’ to proceed, you should receive a confirmation email instantly, click on the confirmation link in the email and your coins are on the way to your preferred exchange.
Now go to your exchange to confirm your USDT arrival, don’t worry if you haven’t seen your deposit almost immediately, It might be undergoing some network verification in the blockchain network and this should take a few minutes for your coins to arrive. Depending on the network traffic condition of the USDT network, during busy times it may take even longer.
You should receive a confirmation notification from your exchange once your USDT has arrived. guess what? You are now finally ready to purchase your BakeryToken
At this stage which is the final of your purchase, held to your exchanging platform, then go to ‘Exchange’. make sure “USDT” is selected to be able to trade USDT to altcoin pair of your choice, in this case BakeryToken. You should see BakeryToken/USDT, select that pair and you should see a price chart of Squidanomics SQUID/USDT in the middle of the page. All you need to do is to execute your order and you are done getting your BakeryToken asset.
Some Top Exchanges You Might Love Base On Your Location
BitMart – Is one of the most trusted cryptocurrency trading platform which provides real-time trading services including Bitcoin (BTC), Ethereum (ETH) and other Altcoins. It accept American customers unlike BINANCE that doesn’t support American customers.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services.
Gate.io is an American cryptocurrency exchange that launched 2017. As the exchange is American, US-investors can of course trade here.
The Last Part And Conclusion.
After Purchasing your BakeryToken, and your plan is to hold it for long. You will have to open a secure wallet online or you make use of appropriate “Cold Wallet” as there had been too many hacking incidents associated with online and funds had lost severally.
Thank you for your time, note that this page is open for update and corrections. Please Note That, buying of crypto currencies is at your own risk, all our post is for education purpose and it’s advisable that you buy according to the dollars you can afford to lose.