PancakeSwap is a decentralized platform that allows users to trade, earn, and win cryptocurrencies. This guide will walk you through the process of staking BNB/CAKE for automated yield farming using Metamask and Binance.
Step 1: Transfer BNB from Binance to Metamask Wallet
Before you begin, ensure you have:
- A verified Binance account
- BNB tokens in your Binance wallet
- Metamask wallet configured for Binance Smart Chain (BSC)
Transfer Process:
- Log in to your Binance account and navigate to "Wallet" > "Spot Wallet"
- Locate BNB and click "Withdraw"
- Enter your Metamask BSC address (starts with 0x)
- Select BEP20 network and enter the withdrawal amount
- Complete security verification (SMS, email, and Google Authenticator codes)
- Confirm the transaction details and submit
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Important Notes:
- Always perform a small test transaction first
- Double-check the wallet address and network (BEP20)
- Transaction fees are approximately 0.0005 BNB (~$0.20)
Step 2: Swap BNB for CAKE on PancakeSwap
Once BNB appears in your Metamask wallet:
- Connect to PancakeSwap (set language to Chinese Traditional if preferred)
- Click "Connect Wallet" and select Metamask
- Navigate to "Trade" > "Exchange"
- Select BNB as input and CAKE as output
- Enter the amount you wish to swap
- Confirm the exchange rate and approve the transaction in Metamask
- Pay the gas fee (~0.0019 BNB) to complete the swap
Step 3: Auto-Stake CAKE for Yield Farming
With CAKE in your wallet:
- Go to PancakeSwap "Earn" section
- Select "Pools" > "Auto CAKE"
- View current APY (76.1% at time of writing)
- Click "Stake" and enter your CAKE amount
- Approve the transaction in Metamask (~0.0019 BNB fee)
- Monitor your staked balance and accumulated rewards
Key Benefits of CAKE Staking:
- Automatic compounding (Auto CAKE feature)
- Competitive APY (currently 76.1%)
- No manual claiming required
- Simple interface with Chinese support
FAQs
Q: What's the difference between BEP2 and BEP20 networks?
A: BEP2 is Binance Chain's native network, while BEP20 is Binance Smart Chain's token standard. Always use BEP20 for PancakeSwap transactions.
Q: How often are rewards compounded in Auto CAKE?
A: The Auto CAKE pool automatically compounds your rewards every few minutes, maximizing your yield through continuous reinvestment.
Q: Can I unstake my CAKE at any time?
A: Yes, you can unstake anytime with a small transaction fee. There's no locking period for the Auto CAKE pool.
Q: What happens if the APY changes after I stake?
A: Your existing stake continues earning at the new rate. APY fluctuates based on pool dynamics and CAKE's price.
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Security Tips:
- Never share your wallet's seed phrase
- Bookmark PancakeSwap's official URL to avoid phishing sites
- Start with small amounts to test the process
- Keep records of all transactions
This guide has demonstrated how to:
- Transfer BNB from Binance to Metamask
- Swap BNB for CAKE on PancakeSwap
- Stake CAKE in the Auto CAKE pool for passive income
With current APY rates, staking CAKE can be a profitable way to earn passive income in the crypto ecosystem. Remember to always do your own research and invest responsibly.