PancakeSwap is a decentralized exchange (DEX) on the Binance Smart Chain (BSC). It allows users to trade BEP20 tokens with each other directly, without having to go through a centralized exchange.
PancakeSwap is one of the most popular DEXes on BSC, with a 24-hour trading volume of over $1 billion.
So, can you buy PancakeSwap on Binance? The short answer is no. Binance does not currently list PancakeSwap (or any other BSC-based DEX).
However, there are a few ways to buy PancakeSwap tokens indirectly on Binance.
The first way is to buy another BEP20 token that is pegged to the value of PANCAKE. The most popular token in this category is CAKE, which is listed on Binance.
CAKE tokens can be bought and sold for PANCAKE tokens on PancakeSwap at a 1:1 ratio. So if you want to buy $100 worth of PANCAKE, you would need to buy $100 worth of CAKE on Binance first.
The second way to buy PANCAKE indirectly on Binance is to use a wrapped version of the token. The most popular wrapped token is WCAKE, which is an ERC-20 token that is backed by PANCAKE tokens on a 1:1 basis.
WCAKE can be bought and sold for PANCAKE on PancakeSwap at a 1:1 ratio as well. So if you want to buy $100 worth of PANCAKE, you would need to buy $100 worth of WCAKE on Binance first.
The third way to buy PANCAKE indirectly on Binance is through the use of synthetic assets. Synthetic assets are digital assets that track the price of another asset but are not actually that asset.
The most popular synthetic asset tracking the price of PANCAKE is sWcaKer, which is an ERC-20 token that tracks the price of WCAKE (and by extension, PANCAKE) on a 1:1 basis. So if you want to buy $100 worth of PANCAKE, you would need to buy $100 worth of sWcaKer on Binance first.
All three of these methods require the use of another cryptocurrency exchange in addition to Binance. However, they all allow you to indirectly purchase PancakeSwap tokens with fiat currency or other cryptocurrencies.