July 20, 2024

CoinHirek

Learn More About Crypto and Earn

25 thoughts on “Staking Cake on Pancake Swap | The Truth about Staking Crypto for Passive Income

  1. This video stakes the cake! Pun intended. What ppl seem to not understand, and you mentioned it 1st thing, the high APY only says that you will get that many more coins, it has nothing to do w/ the dollar value of those coins at the end of the period. You could double your coins and still lose all dollar value. For this reason, as a beginner, I was only providing liquidity in stable coin pools. The APY fluctuates from 10%-25%, but that's paying in 'dollars'.

  2. Hypothetically speaking if one were to sell they’re house for 200k profit and place the proceeds in this cake pool. Theoretically said person could profit close to $140k per year (depending on price of Cake)? Are they’re any dangers to this idea? Or is this a feesible idea ?

  3. Thanks for really useful guide. I currently stake my CAKE on Binance locked staking – would you have a view on that? The rates are pretty generous but I'm guessing perhaps not as good as staking directing on Pancake Swap?And Binance doesn't have the compound interest feature which sounds really good too.

  4. Hum … Nice .
    Lucky has Some … Intricate yet Alluring Cakes … One of the Few People that Walks to the Store .
    Like the Manual Cake Syrup Pool … and, the BUSD Cake Farm .
    Most People like the Auto Pool … and, BNB Cake Farm .

  5. There seems to be a misunderstanding. Staking means to take advantage of the mighty compounding effect. It doesn't make sense trying to use it as a way of generating passive income since monthly withdrawing undermines the purpose of staking (compounding). If you want to have a passive income, maybe try playing around with trading bots or liquidity pools.

  6. One of the rare videos that fully explained the risk of the coin itself and the high rates. A lot of other videos just dive right in. Great explanation thank you very much.

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