Shiba Inu got more public attention after Elon Musk mentioned it and the Dogecoin token. Despite the bear market, SHIB maintained its position among the top 15 cryptos trading at around $0.00001.
PancakeSwap is trading at $4.37. It ranks 62nd due to a lower market cap ($610 million compared to almost $6 billion). So, is SHIB CAKE swap a smart idea?
We leave that to you, but if you decide to go with the trade, you need a reliable exchange. Check out the top platforms that offer the option to trade your Shiba Inu for PancakeSwap tokens!
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Godex
Experienced traders know they can rely on Godex when they need fast transactions. This online currency exchange doesn’t require registration. Instead, you head to the website and pick the desired trading pair. The rates are transparent, and there are no hidden fees.
Godex supports SHIB, CAKE, and about 300 other assets. That gives a huge list of potential pairs, which experienced investors appreciate. Most transactions are completed in less than five minutes, but larger trades could take up to half an hour.
Other important features offered by Godex include:
- A decentralized exchange for maximum anonymity. The exchange will never store user details, guaranteeing privacy to all visitors.
- Exchange crypto without limits. There aren’t restrictions on trading limits or the number of trades per day.
- Top security measures. An entire team works on ensuring maximum security and keeping the servers protected.
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Binance
Binance has been in the market since 2017. The platform supports hundreds of trading pairs but also offers NFTs, loans, and other crypto investment options.
You can use fiat currencies, including debit and credit cards, to acquire crypto tokens. The exchange isn’t entirely decentralized, and the necessity to create and verify your account confirms that.
Binance is a large crypto exchange, but it has a hacking history. In 2019, cybercriminals took $40 million. However, the platform acted immediately and used its SAFU — Secure Asset Fund for Users — to reimburse its members. Today, the exchange implements two-factor authentication and other security layers to keep its servers safe.
The fees on Binance are reasonable, especially if you compare it to other major platforms. For each transaction, the sender and receiver pay 0.1%. The platform uses a Binance Coin (BNB), which you can also earn via the reward programs available.
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Huobi
Huobi was launched in China in 2013. It supports over 500 cryptos, with SHIB and CAKE being on the list. You can also trade popular coins like BTC, ETH, XRP, etc.
Huobi is a centralized exchange requiring you to register an account before trading. The fee structure depends on the trading volume, so you could qualify for a discount if you swap large amounts. It’s possible to buy crypto with debit and credit cards, but the fees are higher.
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KuCoin
KuCoin claims to be the largest social trading platform, with over 20 million global investors being a part of the network. The exchange isn’t available in the United States, but you can use it from over 200 other countries.
You can swap over 700 tokens on KuCoin. Whether you are converting SHIB to SWAP or prefer trading BTC or XMR, the platform has got you covered. Blog and news sections are useful as they offer the latest info from the industry.
KuCoin allows buying crypto with debit cards, P2P bank transfers, and other options. Spot and margin trading, as well as futures, NFTs and crypto lending, will ensure experienced traders find this platform attractive.
Conclusion
If you are a newcomer and need to buy crypto with fiat, you’ll need a centralized exchange. But if you already have a trade in mind, such as swapping SHIB for CAKE, you want everything done fast. Decentralized exchanges don’t require registration, and you can complete a trade in a few clicks. They often offer lower fees and an intuitive interface available on any device.
