Love is in the air this Valentine's; and so are good vibes in the world of cryptocurrency. As we surge through this (hopefully sustainable) bull market, Cake DeFi is yet again throwing in another delicious promotion!
From the 14th of February 0800 UTC to 21st February 0800 UTC, Cake DeFi is giving away a share of $20,000 worth of bitcoins to 20 lucky participants!
An Introduction To Cake DeFi
Cake DeFi is a Singapore-based one-stop cryptocurrency platform to generate passive income, offering the finest of staking, lending & liquidity mining services. Learn more about Cake DeFi in my previous articles below!
Overview of Cake DeFi's Services
Overview of DFI - the native token of the DeFiChain network
Sign up with Cake DeFi today and claim a $30 signup bonus, using my referral link here. Then, follow the steps below to enter the contest and be in the running to win a share of $20,000 worth of bitcoin!
How To Join?
Click here to enter the gleam.io site
Sign in with any of your social media accounts (Facebook/ Google/ YouTube/ Twitter)
Complete as many tasks as you can to gain more entries (shown in the following picture). The more points you collect at the end of this promotion, the greater your chances to win a share of US$20,000 in bitcoin.
Then, just sit back and wait for the winner announcement on 21st March 2022!
Some important terms and conditions to take note of (taken from the Cake DeFi website)
- New and existing Cake DeFi users will be allowed to participate. In order to be eligible to win and claim a prize, you must complete registration and KYC identity verification by 28 February 2022.
- 20 “HeartBakers” will be selected at random at the end of the campaign (21 February 2022, 16:00 SGT), and will share a US$20,000 prize pool equally. Each “HeartBaker” will receive US$1,000 in Bitcoin.
- Results will be announced by 21 March 2022.
- Prizes will only be distributed to Cake DeFi accounts.
If you are new to Cake DeFi and keen to embark on a journey of passive income, read on to find out more!
Cake DeFi Briefly Explained
Cake DeFi is a reliable investment company based in Singapore, which has been reliably generating passive cashflow for me for more than the past 2 years.
It offers a host of exciting features
Fiat services: Easily buy bitcoin, ethereum, or DFI (defichain) directly with euro/ dollar
Staking: Staking is a way of earning handsome interests by holding onto your crypto assets in a staking pool, which acts similarly to your savings account, but at a much higher interest rate of up to 100% APY! Staking in Cake DeFi can be done with DFI, the native coin of DeFiChain; and DASH, albeit at a lower rate of 5%. The staked crypto assets are put to work by the blockchain, which in turn offer rewards. This is done via a process called “Consensus Mechanism” commonly referred to as ‘Proof of Stake’. With Staking, there is no minimum term. You can participate at any time, and can even take your coins out of the Staking service when you choose. Your rewards will be credited directly twice a day, depending on the coin.
Liquidity mining: Liquidity mining is a key element of most DeFi (Decentralized Finance) projects. During this process, participants contribute their cryptocurrency assets to a liquidity pool, facilitating crypto trading in pairs and providing liquidity for users who want to do a swap of cryptocurrencies on the decentralized exchange, eg ETH/DFI. Once the trade or crypto swapping is complete, the transaction fee and the block rewards are distributed among all liquidity providers. In DeFiChain’s case the rewards are paid out in the native coin, DFI.
Decentralized assets: Combine the best of both worlds of the familiarity of the conventional stock markets and the high yields of liquidity mining offered by the blockchain, by investing in decentralized assets such as TESLA, Google, Apple, Alibaba and so forth!
Lending: Lending allows you to earn a passive income on your bitcoins, ether, USD Tether as well as USD Coin. Your capital and returns are fully guaranteed and risk-free, with possible bonuses if the spot price of the asset exceeds a certain amount. Each lending batch runs for 28 days, starting and ending on a Friday. Once you choose to participate, your BTC / ETH / USDT / USDC will be locked into options contracts for the next 4 weeks. After the 4-week period of the batch, you will have the option to automatically enter the next batch (to generate automatic compound interest), withdraw only your return, or withdraw your entire principal and your return back into your account.
Freezer: The Freezer is a loyalty programme that rewards users for committing funds to Cake DeFi for a certain period of time, ranging from 1 month up to 10years. It is available for funds allocated to the Staking & Liquidity Mining products. With the freezer, enjoy an impressive APY of up to 100% for a 10 year staking period!
Sign up for Cake Defi today and start baking passive cashflow. Plus, be in the running to win a share of $20,000 bitcoin this Valentine's! Happy baking, and all the best in your quest towards financial independence with Cake DeFi!
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This article was originally published by me on read.cash
As always this is not financial advice! But just some cryptocurrency investment platforms I am currently using and have found worthy of sharing with. Do your own research before investing and never deposit money you cannot afford to lose.
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