What is Cake DeFi?
Cake DeFi helps you to make your Bitcoins and your crypto coins work for you. Cake DeFi stands out from its competitors by focusing on easy to use products, excellent user experience and generating high returns for our customers. In order to achieve our vision — to become a one-stop platform where you can manage your finances — we are constantly expanding our offering by baking unique and highly lucrative new products for you.
This post is intended to help to understand our products in a very simple and straightforward way as well as to show you how you can profit from them. Therefore, we’d like to take you onto a journey through our extensive product line and show you the unique features of each product:
- How to buy Bitcoin or Ether directly with Euro / Dollar
- Lending service
- Staking service
- Liquidity Mining
- Further resources
1. How to Buy Bitcoin or Ether Directly With Euro / US-Dollar?
On Cake DeFi it’s extremely easy to purchase BTC and ETH with Euros or US dollars. To provide a secure transaction environment, we only work with the best partners in our industry. So when it comes to fiat deposits, our trusted partners BANXA and Transak will take care of it. Not only does this mean complete transparency and security for you, but also simplicity in the execution process, since cryptocurrencies are automatically posted to your Cake DeFi account — you can relax and let us do the work for you.
In other words, you can use a SEPA transfer or a credit card to buy your Bitcoins or Ether. In the following we’ll show you how it’s done:
- Log into your Cake DeFi account.
- Click on "Buy BTC" in the menu above.
After you’ve clicked on the "Buy" button, you’ll be forwarded to our partner. The purchase process is done in a few simple steps with very detailed instructions — even beginners can do it! After the purchase, your Bitcoins or Ether will be automatically credited to your Cake DeFi wallet.
The cryptocurrency will show up in your account in the ‘available’ column:
You are now officially holding Bitcoins or Ether on your Cake DeFi Wallet!
The next step, after you have bought Bitcoin or Ethereum, would be to get cash flow or passive income from your purchased cryptocurrencies. You don’t have to shop around for that, because we have you covered! We offer you the perfect product to generate passive income — it’s called Lending.
Our Lending product allows you to generate cash flow from your Bitcoins, Ether and other cryptocurrencies. Your capital and your returns are guaranteed and risk-free. Furthermore, there is also the possibility to sweeten those juicy returns even further with a potential bonus (bonus = additional return on top of the guaranteed returns).
- Every week we offer new BTC / ETH / USDT lending pools.
- Each BTC / ETH / USDT lending batch runs for 28 days and starts and ends on a Friday.
- The base lending yield of BTC / ETH / USDT is guaranteed (see below). There may be potential bonus returns on top of it, if the spot price of BTC / ETH gets within a certain price range.
- The expected APY (annual percentage yield) may vary from batch to batch. Before you join a batch, we will show you the expected APY in a completely transparent way. You can participate with any BTC / ETH / USDT amount of your choice.
- Once you choose to participate, your BTC / ETH / USDT will be locked into an option contract for the next 4 weeks.
- After the 4-week period, you have the option to activate the automatic compound interest feature to automatically enter the next batch. Alternatively, you can choose to have only yourreturn or your entire capital + your return paid out to your account.
- Our lending product does not charge any fees. Cake DeFi receives commissions directly from its partners.
In the following we’ll show you how to invest in a lending batch:
- Go to https://app.cakedefi.com/lending
- Scroll down until you see the batch you’d like to enter (BTC / ETH / USDT)
- Click on “Enter”
4. You just have to enter the amount you’d like to invest and then you are all set.
You can let your Bitcoins do the hard work for you now and get your guaranteed return, credited directly into your account every 4 weeks. Your investment amount, as well as the return, are automatically transferred to the next batch, when the standard settings are enabled. You don't have to do anything else than to sit back and see the returns of compound interest flowing in. Enjoy your piece of the cake while your Bitcoins work for you.
In addition to our lending product for Bitcoin, Ethereum and Tether, we also offer a staking service for selected cryptocurrencies.
3. Staking Services
When it comes to validating your crypto transactions, then there are different forms of consensus mechanisms. The two most widely known consensus mechanisms are Proof of Work (PoW) and Proof of Stake (PoS). In the case of Proof of Stake, coins or tokens are transferred to so-called "nodes", where they then verify transactions. Stakers receive staking rewards for providing this service in return. The emission structure of new coins / rewards usually differs from coin to coin.
Cake DeFi currently support the following coins:
- Dash (DASH)
- DeFiChain (DFI)
There are two ways to participate in staking:
- You can exchange your Bitcoins or Ether, purchased on Cake DeFi, into a staking coin.
- You can send your staking coin directly to Cake DeFi.
Ad 1) Exchange Bitcoin into your staking coin
- Click on "Balances" in the upper right corner.
- Click on "Buy" to buy the staking coin you want.
Ad 2) Send a staking coin into your Cake DeFi account
- Click on "Credit" in the upper right corner.
- Click on "DEPOSIT" on the coin you want to deposit into your account.
4. You can now send your coin to this address. (Important: Send ONLY this coin to this address, no other coin!)
With Staking you have no minimum term. You can participate in Staking and take your coins out of Staking at any time. Your rewards will be credited several times a day, depending on the coin. The standard settings for our Staking product are similar to our Lending product, where your coins automatically remain in Staking mode.
3. Liquidity Mining
Liquidity mining is a way to provide liquidity to members who want to exchange their cryptocurrencies on a decentralized exchange. Liquidity mining has many facets and, unlike the products mentioned above, cannot be explained in a few sentences. Therefore, you can find an easy to understand explanation here: Liquidity Mining explained in a simple way.
In a few simple steps you can participate in Liquidity Mining:
- Click on the link: https://app.cakedefi.com/liquidity-mining
- Now you can see the available Liquidity Pools:
- BTC - DFI
- ETH - DFI
- USDT - DFI
- LTC - DFI
- BCH - DFI
- DOGE - DFI
- After you have selected a pool, you can join by clicking "ADD LIQUIDITY".
2. Now you have to enter the amount you want to invest. Also note that you always have to provide liquidity to both sides of the pool. As a result you have to have both coins in your account. The amount of the other pool pair will be calculated automatically. This ensures that both coins are in balance in terms of value.
After you have selected the amount you want to invest, you just have to click ‘Deposit’ and the amount will be added to the liquidity pool.
A security warning will then appear. Please read this carefully and only click ‘Confirm’ when you fully understand the security warning.
Join our Community: https://t.me/CakeDeFi
4. Further Resources
- FAQ: https://cake.zendesk.com/hc/en-us
- Official Website: www.cakedefi.com
- Facebook: https://www.facebook.com/cakedefi
- YouTube: https://www.youtube.com/cakedefi
- Telegram English: https://t.me/CakeDeFi
- Medium/Blog: https://medium.com/@cakedefi
- Twitter: www.twitter.com/cakedefi
- Reddit: https://reddit.com/r/cakedefi
- LinkedIn: https://www.linkedin.com/company/cakedefi