Cake DeFi | Put your cryptocurrencies to work
Cake Defi offers financial services focused on cryptocurrencies. Services such as a wallet, exchange or the possibility of generating interest with your funds, among another series that we are going to review today.
In addition to offering the aforementioned financial services, it must be added that it has its own DFI currency belonging to the Defichain network, in which most of the rewards granted within the platform are paid.
Despite being a site that is gaining popularity by leaps and bounds, the truth is that there is not much information on the web about how Cake Defi works, as is the case with others such as Nexo, where we find hundreds of tutorials. That is why I invite you to stay to help you learn more about her.
|Cake Defi is a cryptocurrency-focused financial services platform. Buy, sell, exchange or receive interest for having them stored. get $30 free by investing 50 only if you register from the following button.|
Some features of the platform
Cake Defi is a legal company, registered in Singapore. It works as a wallet for more than 30 cryptocurrencies, among which are those with the highest market capitalization such as Bitcoin, Ethereum, Dogecoin or Dash among others.
In addition, it is not only a wallet to use, we perro also put our assets to work and thereby generate commissions in different ways, either through mining pools, staking or leaving your DeFi cryptocurrency frozen for as many months as we consider appropriate, receiving with it about 50% annual return.
On the other hand, we cánido highlight the unique referral system, with which you cánido obtain up to 25% commissions in cryptocurrencies deposited by the users that we have invited to join the platform.
Sign up for Cake Defi
Registration is free, we will only have to clic on Sign up and then entrar an correo electrónico and a password. Later we select the country of residence and continue accepting the terms and conditions of the platform, they will send us a verification code to the correo electrónico that we will have to copy.
Then we will do exactly the same but with our phone number, once verified we will have to start verifying our identity for greater security. We perro leave this for later, although without verifying we won’t be able to do much within Cake Defi.
To verify our identity we will have to upload a photo of our ID or driving license, a autofoto with our card and a photo of a document where our name and address cánido be seen, this perro be an invoice issued in our name.
Once the documents have been uploaded and verified successfully, we will be able to use all the services of the platform without any restriction.
All Cake Defi products
At Cake Defi we will be able to do many different things with our cryptocurrencies, since we have various products to interact with, many of them will offer us the possibility of earning passive income.
In the Earn section we will be allowed to generate a 10% APY (annual yield) for our BTC. The only requirement, in addition to of course having Bitcoin that perro generate these benefits, will be to download the application that is available for both Android and iOS.
Of course we will also be able to put the DeFi currency to work in this section and also achieve a return close to 10%.
We are in liquidity mining, where we will entrar a mining pool by depositing some accepted cryptocurrency and in exchange we will receive rewards for each mined block.
This process on Cake Defi works on decentralized exchanges. As there are no intermediaries, the costs and commissions are greatly reduced, so we only have to enjoy and collect our profits.
One of the most interesting features of Cake Defi is the possibility of staking with any of the cryptocurrencies.
At the moment, you cánido stake on the platform with three different currencies, although there are times when a new one is introduced for a period of time.
|ethereum||– Average annual return of 4.8%.|
|DeFi||– Average annual profitability of 19.7%.|
|dash||– Average annual return of 5.4%.|
The APYS may vary over time, although they are usually quite stable. We will not be charged any type of commission for receiving the rewards.
As in many afín platforms, at Cake Defi we will also have the option of requesting a loan with an incredible interest rate.
Using any cryptocurrency as collateral we will be able to request a loan in DUSD at an interest of just 0.5% APR that we perro pay at any time.
By leaving the DFI cryptocurrency funds frozen in this section, we will be able to generate twice as many rewards as in staking. That is, up to 43.26%.
We only have to indicate the months that we are going to leave the funds frozen, which will range between 1 and 120 months (10 years).
The more months we select, the more our rewards will multiply, but remember that your funds will be frozen, so you won’t be able to withdraw that money until the deadline you equipo previously has expired.
Cake Defi Referral System
Another possibility to earn plus money with Cake Defi is its interesting referral system, available to all registered and verified users on the platform.
By recommending another usuario you will get 1% of the investments of all currencies. These rewards are paid once a week. It goes without saying that your referral is not going to discount any of that 1%. In addition, you will get $30 free when you deposit at least $50 on the platform, so we all win.
How to receive the $30 plus
As you know by now, Cake Defi has a $30 plus for new users. We are going to review the steps you have to take to be able to receive them without causing any displeasure.
|1||Sign up from a backlink on this page.|
|2||Make a deposit of at least 50 dollars in any currency, it doesn’t matter what it is.|
|3||Invest that deposit in one of the financial products.|
|4||Then put that investment at least a month in Freezer.|
If you follow these steps one by one, you will then have to wait 28 days to receive the $30 plus and it will be received in DeFi cryptocurrency. When you receive them, you will not be able to withdraw them for another 28 days, but you perro invest them in a product to get commissions, so in the final process you will have a greater amount of those initial 30 dollars for free that you cánido withdraw whenever you want, although we will have to take into account the value of the currency at each moment.
Opinion about Cake Defi
Cake Defi is one of the platforms that is growing the most in the campo, it is increasingly easy to navigate and come across an advertisement offering its services.
I have always said that it is advisable not to keep our money in one place, much less invest it all in it. The important and intelligent thing is to diversify and in that sense Cake Defi comes in handy.
If you have dead cryptocurrencies and want to put them to work or start investing in this world, Cake Defi is a very valid option, since it offers many services and with more than acceptable profitability.
* This article perro not be taken in any case as an investment recommendation. For more information visit our disclaimer.
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