Is PancakeSwap Safe? | $CAKE Coin Review

is pancakeswap safe

In this week's Wealth Mastery Coin Review, we’ll discuss the following topics about PancakeSwap. 

  1. Is PancakeSwap safe?
    • BNB Smart Chain
    • Ethereum
    • Aptos
  2. What is PancakeSwap used for?
    • Swaps
    • Limit Orders
    • Farms & Pools
    • Predictions & Lottery
    • NFTs
  3. What is a CAKE coin?
  4. How to buy PancakeSwap coins?
    • How to buy CAKE using Binance?
    • How to buy CAKE using PancakeSwap?
  5. Is CAKE worth buying?

Is PancakeSwap Safe?

With the latest FTX exchange implosion, it’s time to look back at some of the products we’ve been using over the years. Suppose you’ve been around the crypto space for any amount of time, you’re likely familiar with BNB Smart Chains' golden child, PancakeSwap.

Released back in 2020, Binance (What is Binance) supported the release of PancakeSwap financially with a buttload of BNB to provide more than enough liquidity for success. Answering the problem Uniswap had fixed on Ethereum, PancakeSwap was cloned over to BNB Smart Chain, allowing all those whales with big bags of BNB to finally put it to good use.

Throughout the years, PancakeSwap has been the home to countless rug pulls, front-running, and poor coding. At one point, auditor Certik pulled its certification of PancakeSwap off the Certik website after multiple flaws were exposed with SYRUP tokens, causing many traders to lose funds when someone created 13 Million SYRUP and sold $500,000 in bogus tokens directly through PancakeSwaps staking contract. Meaning that “PancakeSwap IS NOT SAFE.” 

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