Recently, I tried my hand with the decentralized finance, or DeFi, side of crypto. DeFi allows for borrowing, lending, and investing with a much higher return than traditional banks, among other useful features.
As I explore the crypto space, in search of #passiveincome and hedge to inflation rates (and for the added inflation coming), I make simultaneous stops around the internet (like Santa Claus if he was Spiderman.. something like that, you know, ’cause we’re on the “web”) for anyone willing to take the journey.
As in most of the companies I write about, there is referral network that is always mutually beneficial. I have started posting more articles on the Medium platform because of their large user-base and, hopefully, to enhance passive earnings and every view, clap, and read is appreciated.
So, it’s easy to see my benefit there but what about yours?
Well, the quickest way to learn about these new products and services I find will be on Medium or by joining my email subscription list provided by them. Plus, they have loads of other interesting content and personal stories.
The first 3 articles viewed, if they have been monetized by the author, are free. Then, $5 per month, which isn’t bad for the amount of things that can be learned on the platform.
So, back to the main topic, Cake. For a teaser, Cake is a simple DeFi platform, with just a few different cryptocurrencies available, such as, Bitcoin, Ethereum, Dash, Litecoin, and a few others.
You can stake or lend these crypto’s for a much higher rate than you’ll probably receive from your bank. If there is any at all, banks may be offering as little as .01% annually.
I can’t do math with numbers that small.
I don’t know where to put the decimal and when to subtract for inflation.
Either way, it’s not worth it when I can get a 5-7% return staking crypto. Better yet, Cake has yield farming and lending pools, where one can earn up to 50%+.
I have seen bigger promised gains on other networks but for one reason or another, I haven’t had personal experience with them and do not like to promote anything I haven’t tried.
I shouldn’t have to quote the disclaimer but even though suing me would cost a lot more than it would be worth, it’s bad for business so, I’m not a financial advisor and don’t be a dumbass. Something like that. For the full story check out the links below. The last link is if you’re tired of reading and just want the $20 referral bonus. Also, the image above is a working QR code.