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Learn key concepts in crypto while earning US$10 in DFI and BTC with CakeDeFi
Crypto investors are seeking more and more forms of diversifying their investments and growing profits, all while trying to maintain a certain amount of risk control. With such ideas in mind they are turning their eyes to Decentralized Finance (DeFi) and Decentralized Exchanges (DEXs), which are a form of crypto investment that offers most of the traditional services provided by institutional banks and exchanges but rely on cryptocurrencies and in the blockchain itself to support them.
There is a great amount of DeFi Tokens available on the market nowadays, but here we will focus on the DFI (DeFiChain token) because it is the native token of the DeFi Chain and the one used to perform operations on the CakeDeFi platform. This token offers utility to holders inside the DeFi Chain, and such go from Swapping to Liquidity. The last one may provide profits up to 114% APY in the DeFiChain Native network, but let’s start with the basics...
Decentralized finance or DeFi for short, is the entire market built around blockchain technology and cryptocurrencies that aims to offer regular standard financial products with the use of blockchain. Through DeFi one can take loans, offer them and earn interest on assets without a central authority because everything is stored and processed on the blockchain. Through this system, you turn to be your bank, controlling your assets and creating your profits.
What about these Decentralized Exchanges? What are they?
Decentralized Exchanges just like centralized exchanges are places where people can borrow and sell crypto assets or even decentralized ones with the advantage that no central authority or exchange staff is monitoring your activities, everything is done automatically through smart contracts stored inside the blockchain, everything is performed by a previously written code and every transaction is recorded inside the blockchain, making it transparent as every transaction can be tracked through a block scanner while maintaining anonymity, as ironic as it may seem, transactions are tracked but they are stored as hashes, making it impossible to identify sender and receiver in the real world. Popular Decentralized exchanges are UniSwap, 1inchSwap, SushiSwap, PancakeSwap, ApeSwap, SpookySwap, BOGSwap, among others.
What is Cake DeFi and how it is taking DeFi to the next level?
Cake DeFi is a DeFi-as-a-service platform that offers investing services of incredibly high yields to regular investors that are just beginning with the cryptocurrencies world but do not want to miss the big passive income that experient crypto investors are earning, also not willing to risk their assets as experient people in this realm do. Offering a simple user experience, CakeDeFi takes the incredibly high quality offered in the DeFi chain and brings it to normal users like you and me.
To start with Cake DeFi, one just has to create an account here, verify it, and begin with their Learn to Earn program where after reading short lessons and answering a quiz you are eligible to earn up to U$10,00 in DFI-BTC, with ETH program to come. Also if you create your account and make the first deposit of at least US$50,00 or more you will instantly get a US$30,00 bonus while helping this creator and physician wannabe to keep writing, living, and studying. It is important to say that the bonus will be locked up for 180 days earning an APY of up to 35%, so it will be locked, protected, and earning you a passive income, but your first deposit will be available on the go for you to start earning daily cash flow and passive income! But how? Short answer: Liquidity Mining, Staking, and Lending. Long one? Well, I guess you will have to subscribe and read the next article on this blog where I will explain the concepts of Liquidity Mining, Staking, and Lending, as well as what decentralized assets are.
