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What is staking crypto

What is Staking Crypto | CAKE DeFi Review

Many of you know that apart from affiliate marketing, I also trade crypto for wealth creation. Did you know that you can also put your crypto to work for you and earn outstanding interest on your coin and NO it is not trading?

So what is staking crypto? Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. Don’t worry if you don’t understand this yet you can still make money with the Cake Defi Platform, they have made it really simple to use. You don’t need to understand how blockchain or crypto works to make money from it.

I am currently earning 37% APY on mine and to top it all off the platform that I will be reviewing today also has an excellent affiliate program. Yes, at Pool by Cake, anyone can make passive money online easily by staking crypto, Cake has a really easy to use platform that is trusted so anyone can MMO.

Is Staking Crypto Worth It?

In a word, YES. All you have to do is stake (buy & hold) some coins to earn some rewards or interest. The actual profits you can make from staking will depend on how much you invest, for how long and which coin you stake. You can learn how to stake your coin yourself on the DeFi Chain, or you can trust someone like Cake to do it for you. I choose the simple approach and trust Cake.

Pool by Cake Review

Name: Pool by Cake

Website: https://pool.cakedefi.com

Price: Free to Invest

Founders: Cake was founded at the beginning of 2019 by Dr Julian Hosp and U-Zyn Chua

Overall Rank: Two Thumbs Up

Pool by Cake Product Overview

Cake is a platform that empowers you to control your finances by creating cashflow and harnessing Decentralized Finance’s potentials.

Cake offers a range of DeFi products, podcasts and educational videos you can use to achieve financial freedom.

How does it work?

Watch this 3-minute video.

Hold your cryptocurrencies and put them to work at the same time. Cake is the first fully transparent platform that generates constant cash flow for you.

The Good & the Bad

The Good:

  • Easy to use – Great platform, 100% transparency.
  • Easy to deposit – Direct deposit crypto or purchase on the platform, various methods.
  • No minimum amount to invest – Because money is pooled, you can stake any amount.
  • No time limits – You can stake and unstake your crypto at any time.
  • Affiliate program – Earn real money just for recommending people.
  • 100% Transparency – You can see exactly how your money is put to work.
  • Other services offered – You can also invest other ways apart from staking.
  • Automation – Earning rewards is made easy with automatic real-time compounding.
  • Confectionary Program – Get extra benefits for upgrading (staking higher amounts)

The Bad:

  • I have not found anything bad about Cake, I have been personally using them for around 4 months, and my experience has been faultless. I have actually been paid more sometimes than what has been stated so can’t complain.

Don’t just take my word for it though look at Trustpilot and see what they have to say. They have well over 50 positive reviews with 4.7 stars out of 5 and No negative reviews.

Who is Pool by Cake For?

Cake is for anyone who wants to invest, yes it is crypto-based, but they have made it really easy for anyone to start investing even if you don’t know crypto. You can start investing right from the platform with easy deposit methods, credit card, Poli etc…

If you are HODLing Crypto why not put it to work and earn extra money on your crypto? Pool by Cake is for anyone who wants to make money online easily.

It really is passive income. Crypto has huge potential for capital gains, and with cake, you can take advantage of that and earn extra as well. If you want to make money online, Pool by Cake is a No Brainer.

Pool by Cake Provided Services

Pool by Cake has 4 options for Making Money.

  1. Staking
  2. Lapis Service
  3. Liquidity Mining
  4. Referral program

Benefits can also be gained from upgrading in the confectionary program.

Please watch the videos below to get an understanding of each service.


Staking Explained


Cake’s Bitcoin Lapis detailed explanation


DeFiChain Liquidity Mining explained (incl. risks)

Pool by Cake Support

I have found support at Cake to be excellent, I had a few issues when I first joined, I sent a support ticket, and they answered and solved my issue very promptly. There is a Support tab with FAQ on the footer of the website, this is quite comprehensive and should answer most of your questions, if not just submit a ticket.

You can also check out their communities on social media.

Community

My Final Opinion of Pool by Cake

The easiest and safest way to stake your coin and make some money online is with Pool by Cake. I personally invest at Cake. I use all their services, Lapis, Liquidity Mining and Staking. I would highly recommend them, they are 100% transparent and provide excellent support.

Even if you are a complete noob, I would still recommend you give them a go because where else can you make between 8% – 200% APY on your investments and if you use my referral code 921297 you can get $30 worth of DFI for FREE.

Crypto has provided some excellent opportunities for the everyday bloke to make some serious money investing. Pool by Cake has made it easy for the average person to get involved in crypto investing. You don’t need to understand how crypto works to make money from it.

Sign up bonus

When you sign up for a Pool by Cake account and make your first deposit of $50 or more in value (with any coin), you will receive a bonus of $20 worth of DFI. This bonus will be locked up for 180 days in the Confectionery program and automatically yields staking returns during this time.

If you use a referral code, both you and your referrer will receive an extra $10 worth of DFI, which will also be locked and staked in the Confectionery program.

What is staking crypto?

At a fundamental level, “staking” means locking your crypto assets in a proof-of-stake blockchain for a certain period of time. These locked assets are used to achieve consensus, which is required to secure the network and ensure every new transaction’s validity to be written to the blockchain. Those who stake their coins in a PoS blockchain are usually called “validators.” For locking their assets and providing services to the blockchain, validators are rewarded with new coins from the network.

Verdict – 100% Legit

Fair Dinkum, Staking Crypto is a real thing, and Pool by Cake is a 100% legitimate way to do it. If you want to make some passive income I can highly recommend Pool by Cake because you can have your cake and eat it too, what are you waiting for get your slice.

Pool by Cake will make you passive income; all you have to do is open your account and start investing. You don’t need to build a list. You don’t need a website, and you don’t need to sell anything, invest and get rewarded.

What are you waiting for grab your slice, it tastes GOOD?

I Love Cake

OZ Dave


DISCLAIMER: I am not a financial advisor. This is not financial advice. The content and material I provide on ozaffiliate.com is my opinion only and general in nature. Always do your own research before investing any money. You should always understand the risks involved in trading and investing and seek advice from licensed professionals before undertaking any investments of your own.

8 thoughts on “What is Staking Crypto | CAKE DeFi Review”

  1. Man dude, you really know your crypto… Every time I read your blogs, I have to read them twice just to make sure I understood what I just read, lol! It’s not because it’s hard to read, of course. It’s because your knowledge is quite advanced.
    Aside from that. I stash at least 30% of my savings on the btc market. I had a roomie who’s been trading crypto since 2009… dude’s doing pretty well rn.

    1. You should try out the Lapis service at Cake. They guarantee the returns 100% = No risk, and you can earn extra, if you are going to HODL why not earn some guaranteed interest. Just an idea.

      Oz Dave

  2. Jonathon Howard

    I hold crypto with coinbase and also trade crypto currency as well. I own tezos as i know you have probably heard of and i earn a staking reward from that particular asset often depending on how much you hold of that particular coin that you are staking I would say it would be worth it in some cases if you are holding a large amount. Either way it’s making you money so I don’t think it’s a bad idea to stake crypto currency but i definitely think that you should consider all things first. You have written a great article keep up the good work.

    Jonathon 

    1. Hi Jonathon, glad to meet another crypto trader. I think staking is a great way to earn some extra coin. I actively trade on FTX and mainly trade PERP contracts. I then invest some of my profits into things like CAKE. It works well for me. Do you stake your Tezos on Coinbase?

      Have you seen my other website Wealth with CryptoI offer a free crypto course that I think would benefit you, anyway happy staking & trading.

      OZ Dave

  3. This is a very informative article with all you need to know about staking. Well done Dave. In the crypto world, building master nodes and locking your coins for staking is the way to go to generate passive income. The more you hold, the more coins you make, and the wealthiest you become. Thank you for sharing.

    1. The only problem with running a master node is initial outlay can be very high. 

      You need to buy a lot of coins to get started, and not everyone can afford this. CAKE has provided the solution and lets you stake small amounts because not everyone has the knowledge to run a node or spare cash for the initial outlay of tokens.

      Crypto Dave

  4. Hello there! I have recently been hearing a lot about cryptocurrency and trading of it, but I am still nowhere as knowledgeable as others on this. Definitely a lot of terms on this post that I am unfamiliar with but you definitely did well to define the terms. Really glad you posted the goods and bads on pool by cake to simplify things for people like me. Thanks for creating this post!

    1. Hi Mike,

      Crypto does have a language of its own have a look at my post Understanding the Crypto Lingo to get the terms.

      I honestly can’t speak highly enough of cake, I have just read their Q4 2020 report, and it is GOOD. They are focusing on user experience Q1, 2021 to get more non-crypto people on board and I believe they will.

      It’s a good place to start Mike, ===> Pool by CAKE.

      Crypto Dave

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