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BakerySwap

BakerySwap Performance

Live bake Price

₹32.86

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13.82%

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₹4.54

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13.82%

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₹28.84

24h High

₹33.55

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What is BakerySwap (BAKE)?

BakerySwap leverages an Automated Market Maker (AMM) model to offer direct token trading, eliminating the need for order books and intermediaries. It combines DeFi services with an NFT marketplace, offering liquidity farming, NFT trading, and minting. The platform has its own native token, BAKE, which plays a pivotal role in the ecosystem, with utilities such as facilitating trades, participating in governance, and DeFi farming. 

Who founded BakerySwap (BAKE)?

BakerySwap was created by a team of anonymous developers in 2020.

Primary features of BakerySwap (BAKE)

• Automated Market Maker (AMM) system: BakerySwap leverages an AMM system for direct token trading, eliminating the need for order books and intermediaries. 

• BAKE token: BAKE token powers the BakerySwap ecosystem, and is used to facilitate trades and transactions, participate in governance, and engage in staking.

• NFT marketplace integration: The BakerySwap platform offers more than DeFi services, it is integrated with a NFT marketplace where users can participate in NFT trading and minting.

• Initial DEX Offerings (IDOs): Among several features offered by BakerySwap, one of its unique features is hosting IDOs. With this feature, developers can launch new projects on the platform.

Is BAKE a promising cryptocurrency?

BAKE is a cryptocurrency centered around the DeFi and NFT space, launched in 2020. The token has garnered an overall gain of 102.70%, as per CoinMarketCap. The token is currently trading at $0.2675 with a market cap of  $77,542,585. However, experts anticipate the token to trade around $3.33 by 2030. While the anticipated price for the token in 2030 is lower than its all-time high of $8.38 recorded on May 2, 2021, the token is poised for a promising uptrend.

Download the CoinSwitch app to invest in BAKE.

How do I use BAKE?

• BAKE can be exchanged, bought, and sold from crypto exchanges.

• It is used to facilitate trades within the BakerySwap platform. 

• Token holders can participate in the BakerySwap decentralized platform’s governance and partake in making important decisions. 

• BAKE token holders can stake their tokens to earn rewards.

Pros & Cons of BakerySwap (BAKE)

Pros

• BakerySwap offers low transaction fees and fast processing times. 

• BakerySwap prioritizes its community and promotes engagement and support of the decentralized platform via governance.

• The platforms offer a wide range of DeFi services, such as staking, yield farming, NFT marketplace, and more.

Cons

• BAKE is subject to price volatility which may impact its price.

• BakerySwap faces strong competition from platforms such as PancakeSwap, Uniswap, and SushiSwap. 

• Being a DeFi platform, BakerySwap faces smart contract vulnerabilities and exploits that are often common in DeFi platforms.

How to trade in BakerySwap (BAKE) on CoinSwitch?

• To trade in BakerySwap (BAKE), download the CoinSwitch app.

• You can start with as low as ₹100.

• Users can trade in over 200+ cryptos in a safe and secure environment and manage their transactions and portfolios seamlessly.

BakerySwap (BAKE) ICO summary

Similar to the platforms that inspired it, BakerySwap did not hold an Initial Coin Offering (ICO). The BAKE token was launched through Binance Smart Chain’s automated market maker (AMM) model. The anonymous team behind the project was against pre-sales and initial coin offerings and there are no reserved BAKE tokens for the team. 

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FAQ's on BakerySwap

1. What is the BakerySwap (BAKE) coin?

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BakerySwap (BAKE) is a decentralized exchange (DEX) built on the Binance Smart Chain that allows users to trade BEP-20 tokens without intermediaries. It features automated market-making, yield farming, staking, and a marketplace for non-fungible tokens (NFTs) [1][2]. The BAKE token serves multiple purposes: it rewards liquidity providers, offers voting rights within the protocol, and can be staked to earn passive income.

2. How does BakerySwap (BAKE) cryptocurrency work?

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BakerySwap (BAKE) operates as a decentralized exchange (DEX) on the Binance Smart Chain, utilizing an automated market maker (AMM) protocol. Users can trade BEP-20 tokens directly without intermediaries, allowing for swaps between different tokens

3. Is BakerySwap (BAKE) safe?

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BakerySwap (BAKE) is generally considered safe for trading and staking, with no major reported security issues as of now. The platform has undergone smart contract audits, which adds a layer of security. However, like all investments in the cryptocurrency space, it carries inherent risks due to market volatility and the potential for unexpected issues. Users are advised to use reputable wallets, such as MetaMask, and to stay informed about security practices.

4. Is BakerySwap (BAKE) a good investment?

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Investing in BakerySwap (BAKE) has potential, particularly for those interested in decentralized finance (DeFi) and non-fungible tokens (NFTs). Some analysts believe BAKE could experience significant growth, citing a possible price increase of over 166% in the next year. However, investments in cryptocurrencies are inherently risky due to market volatility, and opinions on BAKE’s future vary widely. It’s advisable for investors to conduct thorough research and consider their risk tolerance before investing.

Highlight

BakerySwap is a decentralized exchange built on the Binance Smart Chain (BSC).

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Bakeryswap Price Statistics

BAKE Price Today

BAKE Price

₹32.86

Price Change 24h

percent_change_icon

13.82%

Price Change 7d

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8.93%

Market Rank

#507

Market Cap

₹847 Cr.

Trade Vol 24h

₹195 Cr

Circulating Supply

₹29 Cr. BAKE

Trading Activity

35% Buy65% Sell

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How to invest in cryptocurrency in India

CoinSwitch is the leading crypto exchange in India. It is a mobile-only crypto exchange. CoinSwitch provides you the platform to buy and sell more than 80 coins such as BTC, ETH, MATIC, ADA, and LITE.

Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.

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