🥞 PANCAKE SWAP: ULTIMATE GUIDE TO FARMING CAKE! 🥞

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In this guide, you’ll find a step by step on how to farm your own CAKE! Interesting, huh?
Disclaimer: This is no financial advise and you should never invest money that you need to live, so bear this in mind.

What’s Pancake Swap? 🥞

Like other Swaps that you might know, like Sushi Swap or UniSwap, this is an automated platform in which you can trade digital assets without the need of matching against someone else’s order… rather than that, your trade will be made against a liquidity pool. In this pool, users provide their tokens and receive some other token as a return for their deposit.
To sum up, Pancake Swap allows you to: a) trade all tokens that run on Binance Smart Chain or b) provide liquidity to the pool and receive some earns in return.

What’s CAKE?

CAKE is Pancake Swap’s governance token.
A governance token is a token created by developers to help holders influence the decisions or shape the future of the project, this also means that they can vote if there’s any change or discussion when it comes to changing or adding new features to the project.
By farming and staking on Pancake Swap, we will be receiving this token with a really interesting APY (annual percentage yield).

How can I farm my own CAKE?

1st step: Getting your trust wallet ready

To start this process, you need to have the information of your trust wallet ready. If you don’t have one, you can create it, you can choose between MetaMask, TrustWallet, Binance Chain Wallet, etc. Choose the one you like the most (and please, remember not to lose your key…)!

If you don’t have a wallet and you feel like creating one, this is the step by step for creating a new one in MetaMask:

• Head to https://metamask.io/ and decide if you want to download your wallet into your mobile or in your computer. If you’re browsing in Chrome, the extension will be added to your browser and you will be shown this:

• You click on the "create" button that's shown on the right, you choose a password and then you will be shown your recovery words in case you forget it. Please, pay special attention to this, as there is NO OTHER WAY TO RECOVER YOUR ACCOUNT IF YOU MISS IT.

• Voilá, we're done! :)

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2nd step: Connecting your wallet to Binance Smart Chain

By default, your wallet will be connected to Ethereum Main Net, so you'll click on it and then go straight to "Custom RPC":

Afterwards, you'll need to complete with the following information:

Now, our wallet has been connected to Binance Chain! :)

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3er step: Connecting your wallet to Pancake Swap

Head to https://pancakeswap.finance/ (always make sure this is the address, there might be some counterfeit sites that look alike...).

There, you should click "Unlock wallet" and then click on the one that you have. You will be shown something like this:

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4th step: Transferring BNB to your wallet

You should have a Binance account and have already bought any amount of BNB. Afterwards, you should transfer it to your wallet.

Your wallet address will be shown in the extension:

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5th step: Buying CAKE

Once you have transferred the amount of BNB that you want, you'll head to Trade, which is shown in the menu on the left in Pancake Swap website.

You select BNB and CAKE to make the swap and you're good to go! You should see this confirmation message:

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6th step: Farming your own CAKE

Once you've made the swap, you head to "Pool" in the menu that's on the left. You'll see all the tokens that you can farm, but CAKE tends to be the one that hast he highest APY.

When you've chosen, you confirm it into your wallet and voilá! You're farming your own CAKE :)

Whenever you see an APY on these tokens, understand that you will be paid in the token you're farming.

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7th step: We're done! :)

This is how it looks when you're done. From the moment you start farming, remember that you'll get your rewards in tokens.
As I'm writing this, CAKE is USD 7,20, so farming on this token sounds like a good idea to me...

Hope you all find it useful! :)

cc
@steemcurator01 @steemcurator02 @steemitblog