It is a dream of most of us to have a passive income especially in our retirement.
I have explored crypto trading as well as staking and farming of crypto.
There are scams as well as genuine ones but we get suspicious when the profit is too high since we may have been cheated in the past.
I have invested in Cake Defi for more than a year now. It is a Singapore registered company that allows us to lend, stake or liquidity mining with higher APY than most crypto farms or platforms.
It also has its own exchange platform called Defichain.
Below is a screenshot of the latest information that I had taken from the Business Filing Portal of the Singapore Register of Companies.
I can now find both Cake Defi app and Defichain wallet on the Android playstore.
Staking on Cake Defi
Staking provides a regular interest for us when we locked our crypto on a platform. I personally feel that Cake Defi is offering one of the best rates around.
DFI – 85.7% APY
Dash – 5.4% APY
I am currently staking DFI on Cake Defi since it is such an attractive interest. It has an useful auto-compound function in the setting for our account so it can run in auto mode for higher return.
The best thing about this is we can unstake anytime without a lock period unless you have chosen to lock your investment for an even higher interest under its freezer program.
Lending Service For Guaranteed Returns
We can also choose to lock our crypto under the lending service for a month for a guaranteed return.
BTC Lending – up to 6% APY
ETH Lending – up to 6% APY
USDC Lending – up to 7% APY
USDT Leading – up to 7% APY
Liquidity Mining (Yield Farming)
I have tried liquidity mining but impermanent loss is something we need to tolerant due to the change of prices in our crypto. I have chosen to stick with staking only currently.
BTC-DFI – 62.52% APY
ETH-DFI – 51.49% APY
LTC-DFI – 62.91% APY
USDT-DFI – 64.59% APY
USDC-DFI – 62.23% APY
BCH-DFI – 65.1% APY
Doge-DFI – 19.24% APY
Do bear in mind that the above interest rates for staking, lending and liquidity mining can change depending on the number of people participating as well as other factors.
I would personally recommend staking or lending rather than liquidity mining as impermanent loss can really cause us to lose the opportunity to gain more when the price of our invested crypt goes up.
Referral Program
Cake Defi offers an attractive referral program that can give us a nice passive income without investing simply by recommending others to embark on their profitable journey that is many times better than what our local banks are offering.
By referring others to Cake Defi, we can get paid $10 worth of DFI tokens for each referral. We can also get 1% p.a. of our referral investments.
1% p.a. may not sound a lot but we can imagine when our referrals choose to compound their interest.
85.7% APY for staking DFI tokens can help our referrals to almost double their initial investment.
If our referrals reinvest their interest, we would gain more since we can get 1% p.a. of our referral investments.
For a few years down the road, we would really have a good passive income weekly as it would double after each year.
It is not hard to recommend others to Cake Defi as they can get $20 worth of DFI tokens when they sign up with a deposit of $50.
By signing up using our referral link, they would get an additional $10 worth of DFI tokens.
We can get a referral link after completing our identity verification.
https://pool.cakedefi.com/#?ref=610483
Our referrals can get a total of $30 worth of DFI tokens simply signing up through us.
These free DFI tokens would be locked up for 180 days with staking rewards as a bait to ensure new members would have experienced Cake Defi for six months as well as to prevent abusers from selling their free reward.
One of the things that may hinder one from signing up is the need for identity verification.
We need to provide documents for verification: -
- Our identity - our identity card or passport.
- Our residential - utility bills or anything that has our address and name on it
Most people may be concerned about their personal information being revealed online but I personally feel that Cake Defi is reliable to safeguard our information since it is an officially registered company in Singapore.
It is common to complete KYC nowadays with stricter law enforcement in many countries especially for cryptocurrency.
Earn with or without investment
Regardless of our current financial situation, we can earn on Cake Defi even if we do not invest.
If we have the spare cash, we can investment and earn a nice APY but if we do not have much spare cash, we can recommend others to join this profitable opportunity and earn from there.
As a Singapore registered company with a physical office, I personally feel it is a safer investment that many other crypto opportunities out there.
Those without spare cash may have to put in some effort to get referrals but a nice pool of referrals would ensure a nice future passive income.
Below is my referral link if you are interested to sign up and get the $30 worth of free DFI tokens as well as start referring people to earn referral rewards without actual investment.
https://pool.cakedefi.com/#?ref=610483
Disclaimer: This is my personal reflection and I am not in any position to instruct anyone what they should do. I am not responsible for any action taken as a result of this post. My post can only be a reference for your further research and growth.
