Is Cake Coin good for Passive Income? - page 3.

abel1337

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Quote from: CaVO32 on March 29, 2021, 06:29:33 PM

Quote from: Lmaooo on March 29, 2021, 05:47:30 PM

Yes, of course, PancakeSwap "CAKE" is a very good project, in fact it's one of the best projects on Binance Smart Chain. It's like Uniswap version on the Binance Smart Chain. It's an excellent platform for generating passive income because it supports Defi Staking, Yield Farming, and Liquidity Mining. I have no second thoughts about PancakeSwap because they are very good at what they actually do. I use only one one platform better than PancakeSwap on the DeFi space which is 1inch, apart from that is Uniswap I guess.

I am just curious if this kind of performance will continue in a long-term basis. Will users be able to stay long term in this platform and just let earn passive income? What will happen if staking or farming is not a thing anymore in crypto? Though right now, it is the go-to to earn passive income, one should also prepare for the worst possible scenario in the future. I don't think that the generation of passive income will be forever.

Trend just come and go, As of now PancakeSwap is one of the leading Defi exchanges in the crypto space and this could be a future or not. I'm sure that there will be more projects that will come and will be focusing on eliminating existing problems/issues on Defi exchanges. As of now the offerings of pancakeswap is good that I myself is availing it, But soon I know a new trend will rise and this yield farming, liquidity mining, and staking on Defi exchanges will subside.

CaVO32

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Quote from: Lmaooo on March 29, 2021, 05:47:30 PM

Yes, of course, PancakeSwap "CAKE" is a very good project, in fact it's one of the best projects on Binance Smart Chain. It's like Uniswap version on the Binance Smart Chain. It's an excellent platform for generating passive income because it supports Defi Staking, Yield Farming, and Liquidity Mining. I have no second thoughts about PancakeSwap because they are very good at what they actually do. I use only one one platform better than PancakeSwap on the DeFi space which is 1inch, apart from that is Uniswap I guess.

I am just curious if this kind of performance will continue in a long-term basis. Will users be able to stay long term in this platform and just let earn passive income? What will happen if staking or farming is not a thing anymore in crypto? Though right now, it is the go-to to earn passive income, one should also prepare for the worst possible scenario in the future. I don't think that the generation of passive income will be forever.

Lmaooo

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Yes, of course, PancakeSwap "CAKE" is a very good project, in fact it's one of the best projects on Binance Smart Chain. It's like Uniswap version on the Binance Smart Chain. It's an excellent platform for generating passive income because it supports Defi Staking, Yield Farming, and Liquidity Mining. I have no second thoughts about PancakeSwap because they are very good at what they actually do. I use only one one platform better than PancakeSwap on the DeFi space which is 1inch, apart from that is Uniswap I guess.

ingiltere

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It's good for passive income and since they reduced emissions it will be better for long term hold and staking. They should completely remove burn pool cakes though, they minted 15 cake just to burn. This is pointless. Regular burn pool is ok, with lottery, ifo and such we can see good chunk of burning cakes. If they burn more cake then we can talk about it more confidently. V2 looks promising, we will see what happens starting from this month.

tygeade

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It already reached to 17 dollar levels. I was here when it was just 2 bucks or something like that if I am not wrong and like a moron I just used it, did LP did other stuff basically just kept investing into other things, even used pancakeswap to trade coins and in the end I never imagined about putting my money into cake itself, I wish I did, right now I would have been a very rich person, but ended up being very wrong.

In any case I believe cake will keep going up, it's going to be a much more profitable thing in the future, they are growing very strongly, last I checked they had like 700 million dollars worth of treasury as well, if they do not end up burning all of that which would be idiotic, they could use that to improve it a lot, we are talking about literally buying companies level of money there, which is why I think it is quite possible that they could grow a lot bigger as well.

airdata

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I see that many people make good money from Cake, they bought cake token as very chep prices and sold out all token as high price, on this time we know the current price of Cake token also i received one Cake token on pancakeswap and i want hold it for Long term.

mich

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CAKE is priced at price point of $17.83 and with Binance integration looks to compete with other Defi platforms like Uniswap and SushiSwap.

https://cointelegraph.com/news/pancakeswap-cake-aims-to-take-a-slice-out-of-uniswap-s-defi-dominance

Sayeds56

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Quote from: jostorres on February 18, 2021, 03:11:09 PM

Quote from: barbara44 on February 08, 2021, 02:55:29 PM

I assumed this was pancakeswap and the "cake" token they created, that is a cake defi that is basically what this topic could be mistook for. I do not know if cakedefi that this article suggests could be any good or not because I have no knowledge about it, but I would like to hijack the topic here and mention pancakeswap which is basically uniswap on BNB chain and how awesome that one is.

It is defi, it is cheap unlike all those unreal ethereum fee's, it gives you high APY without any problems, it has been doing it for years but this specific one is for months, it has increased like crazy, and you could basically do whatever you want to do with it. It is freedom and also financial fairness all combined into one, if you would check it out and see what it is all about, you will definitely invest into it, there is no doubt in my mind anyone who researches it will not invest into it.

I do agree that cake is a good one but many of us are talking about pancakeswap while the OP meant to talk about something else? Am I wrong to assume that the thing OP talked about and the thing we are talking about are different things? I personally do not really want to meddle with what you guys are talking about and say that pancakeswap is awesome as well, they are really doing an unbelievable job.

I would say, it is not going to be something super easy for them to become huge but they are already doing great and increased their price and there are so so much more things you could do in pancake website right now compared to others, it is really like a joke at this point, you could put in cake and farm so many other coins and could profit like crazy. It became basically like a hub for all BSC tokens.

Beside making passive income, Early Investors in Cake have multiplied their capital many folds. Now it is in correction phase as reflected in attached Technical chart. Accumulation can be seen around 13-14$. I consider it another opportunity to take entry for passive income as well as capital gains.

jostorres

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Quote from: barbara44 on February 08, 2021, 02:55:29 PM

I assumed this was pancakeswap and the "cake" token they created, that is a cake defi that is basically what this topic could be mistook for. I do not know if cakedefi that this article suggests could be any good or not because I have no knowledge about it, but I would like to hijack the topic here and mention pancakeswap which is basically uniswap on BNB chain and how awesome that one is.

It is defi, it is cheap unlike all those unreal ethereum fee's, it gives you high APY without any problems, it has been doing it for years but this specific one is for months, it has increased like crazy, and you could basically do whatever you want to do with it. It is freedom and also financial fairness all combined into one, if you would check it out and see what it is all about, you will definitely invest into it, there is no doubt in my mind anyone who researches it will not invest into it.

I do agree that cake is a good one but many of us are talking about pancakeswap while the OP meant to talk about something else? Am I wrong to assume that the thing OP talked about and the thing we are talking about are different things? I personally do not really want to meddle with what you guys are talking about and say that pancakeswap is awesome as well, they are really doing an unbelievable job.

I would say, it is not going to be something super easy for them to become huge but they are already doing great and increased their price and there are so so much more things you could do in pancake website right now compared to others, it is really like a joke at this point, you could put in cake and farm so many other coins and could profit like crazy. It became basically like a hub for all BSC tokens.

voyager23

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WELL This whole thread just sounds like one big fat huge pump!! Is this this some kind of coordinated attack to entice people to pour their money into a pump and dump???!

suzanne5223

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Coin like the cake (which introduced passive income will definitely experience enormous demand since 90-96% of all crypto currency investors are after profit) should invest in as a short term because Defi market is so problematic and if another project which it concept surpass Cake concept is introduce investors will flock there and Cake coin may experience what happen to COMP.

Twinkledoe

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Quote from: tvplus006 on February 16, 2021, 09:22:32 AM

A few days ago, I accidentally discovered 35 CAKE on my wallet BSC. Since I never bought this coin, I assume they were credited to me as an airdrop, presumably from PancakeSwap. I may have needed to place them on the PancakeSwap stack to generate passive income, but I immediately sold them for about $180.

If nothing else, you got free money here. Because most passive income are only promising at the beginning. But as time goes by, you can't almost get anything from them. Just like cloud mining before. They will give you earnings at the beginning, but as day goes by, they will give you small earnings up until there's no more. So at least, you got already your free money without waiting for anything that may happen to their platform. Really don't believe much in passive income.

tvplus006

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A few days ago, I accidentally discovered 35 CAKE on my wallet BSC. Since I never bought this coin, I assume they were credited to me as an airdrop, presumably from PancakeSwap. I may have needed to place them on the PancakeSwap stack to generate passive income, but I immediately sold them for about $180.

NextDoor125

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In my experience, if I'll be looking for a passive income in the crypto-verse then I'll choose those projects or coins that have been well known and established. To invest in well-known and established projects or coins I would feel happy. Its up to you to measure the risk of worthiness on this kind of investments. This is my opinion.

Sayeds56

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Quote from: _IRMAN on February 09, 2021, 03:41:19 AM

Yes, CAKE is a great token.
1. Many pool options for staking with different APYs.
2. CAKE has a token burning plan, this will make CAKE's price continue to rise.

Cake performance has been very impressive during the past months and it is most used coin on BSC network as it has constantly paid huge dividends to its investors. This is the reason I think it can be considered as one of the best coin for those who seek passive income in crypto space.
Its current price is around 7 and accumulation is on, any breakout from here can take it to new high.

SirLancelot

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Quote from: Sayeds56 on February 03, 2021, 02:56:50 PM

Cake coin is very popular nowadays on all social Media channels for generating passive income. Its price has increased many folds during the past one month because it is in high demand, as individual investors have shown great interest in this coin for staking their funds and harvest good returns on weekly basis.

Cake was founded in early 2019 by Dr. Julian Hosp and U-Zyn Chua as a way to bring the benefits of passive income into the mainstream through a simple user interface.
Cake DeFi, a platform that allows users to generate cash flow through pooled master node staking and options lending, has created a platform with a clean user interface that allows anyone from the novice to the time-starved investor, to start earning interest on their cryptocurrency with a couple of simple clicks of a button.

It seems to be good, but at the same time it’s still a new project , how far are they ready to take it?
That’s if they are not going to end up doing some stupid things that most new projects do these days.

I used to think that when a project doesn’t have an anonymous team they wouldn’t disappoint, but that was wrong because I have seen most of them and their team are not anonymous, but they still ended up doing something very bad to their investors, although some of them do get punished by the government, but the thing is whether you as an investor is going to get your money back, which is a No. There are so many Defi these days and they are mostly the same thing, lending and borrowing.

AWMM24

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I did not have knowledge about this. As im checkuing new ones definately check this one.

Francis Freeman

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Quote from: passwordnow on February 03, 2021, 03:00:38 PM

No for me. I don't have to go through with the project but in my experience, if I'll be looking for a passive income in the crypto-verse then I'll choose those projects or coins that have been well known and established.
They are a better choice than to rely on a project like this. This is my opinion so if someone is an investor and earning passively with this coin, good for you but I just don't want to make the same mistake that I've done before.

Exactly what I wanted to say. You an earn passive income through crypto but don't select meme coins or food coins to do that pick some well established utility projects.

_IRMAN

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Yes, CAKE is a great token.
1. Many pool options for staking with different APYs.
2. CAKE has a token burning plan, this will make CAKE's price continue to rise.

shinratensei_

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Quote from: speedforce on February 08, 2021, 10:10:47 PM

The only problem for a passive income model from cryptocurrency was the dump of their coin price.
As long as the price is stable or even rising, its profitable.

You must see that if crypto is moving forward and more adoption was coming from the big company. Even tesla will be bought 1.5 billion worth of bitcoin.
I believe in elon musk lol. So many cake holders were getting a very big return now. I have a few thousand cakes on my wallet and that's a lot of money right now.
As long as the project listed on the pool can provide sustainable development progress and it will make the price will increase. Holding cake will give us more APR compared when we are using another coin to participate in the pool.

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