PancakeSwap may only have debuted in 2020, and literally just days after BSC, but it is already an attractive proposition, identifying itself as the third largest AAM platform around. The BNB Chain-backed cryptocurrency can be used to gamble online, albeit in limited circles. What does this mean for you if you’re interested in using it, then? Find out alongside us as we put CAKE under the spotlight and showcase a handful of top PancakeSwap casinos right here.
PancakeSwap is one of the many decentralized finance or DeFi options out there. However, while many of its more popular counterparts run on Ethereum, this DeFi protocol is backed by Binance. PancakeSwap aims to position itself as a rival to SushiSwap and UniSwap and utilizes CAKE as its cryptocurrency. Its purpose is to facilitate the swapping of BEP-20 standard tokens on the BNB blockchain.
PancakeSwap is designed to use the AMM (Automated Market Maker) model, and this puts it at odds with traditional buyer-seller models. This method also allows you to earn – the more liquidity you create in the pool, the more you’ll receive. A separate pool, known as SYRUP, operates alongside CAKE tokens to provide additional rewards and goodies.
PancakeSwap facilities NFTs, staking, trading, and farming. For this reason, it is not unreasonable to assume that you can use CAKE to deposit and potentially wager at selected crypto casinos. Admittedly, there isn’t a wealth of these around (at least, not yet), but a typical PancakeSwap casino can be defined as any site which facilitates the use of CAKE as a transaction method to gamble online.
CAKE may not be a cryptocurrency where a budding array of games awaits you to bet online. In fact, there are only limited games that permit CAKE bets. However, there is a built-in lottery system on PancakeSwap’s platform. There are four lottery games per day, and you can use CAKE to buy tickets. CAKE and NFTs can be awarded as prizes. This feature alone makes PancakeSwap an impressive addition to the crypto gambling scene.
Some of the highlighted perks of playing with CAKE at PancakeSwap crypto casinos include the following:
PancakeSwap knows that many developers use Ethereum to build Dapps. Therefore, PancakeSwap has been developed to support all manner of popular wallets, including MetaMask, which is notable for supporting both BEP-20 and ERC-20 tokens. This interconnectivity means you don’t have to pick and choose dedicated wallets.
As discussed above, PancakeSwap runs its own lottery, and these take place daily on the blockchain. Purchasing tickets and potentially winning all take place inside the network, so you won’t have to be signed up to any gambling sites to have a stab at lotto gambling with CAKE.
There are a couple of points worth mentioning as disadvantages, too, and we’ve got those covered here.
There isn’t much in the way of games. While the addition of homebrew, in-house lotto games is a pro, the biggest con here is that there aren’t many bona fide gambling games that currently permit gambling in CAKE.
UniSwap and SushiSwap are PancakeSwap’s primary rivals, and both are larger cryptos and chains. For this reason, you’re more likely to find casinos and betting sites offering those options than PancakeSwap – at least, that’s the case right now.
Before joining any PancakeSwap casino, it is worth considering the following:
You’re almost ready to bet. You need a top place to play, though. These crypto casinos come highly recommended by our team:
Before you begin betting with PancakeSwap, it is worth following these steps, so you don’t end up lost:
As you can see, there are pros and cons to using PancakeSwap, and it has its rivals. However, if you fancy using something that isn’t Ethereum-based and faster than its counterparts, PancakeSwap could be the way to go.
Not many do, but this Binance-backed crypto is gaining in popularity, so watch this space.
Maybe. But ultimately, that depends entirely on where you choose to play.
We believe so, yes. But again, it depends on the crypto casino you choose to sign up for.
Yes. We haven’t noticed any issues regarding security or safety associated with PancakeSwap.
There are fees, but most are around 0.02% to 0.25%, so they are negligible at best.