Fri, 01 Apr 2022 09:25:20 +0000
The cryptocurrency industry can provide bountiful rewards for those who like an active approach to portfolio management. However, that also applies to passive cash flow, with the help of the right provider. Unlocking predictable passive income twice a day is accessible through CakeDeFi, which provides users with solid returns.
As the decentralized finance ecosystem continues to grow, people have wondered how they can put their crypto assets to work. Many seem to make good money in this ecosystem and have their earnings cover basic expenses, including food, drinks, groceries, etc. However, even more people are puzzled about how any of this is possible and what they must do to achieve such a passive income stream.
The cryptocurrency industry has a reputation for requiring hands-on asset management. For the most part, that is true when it comes to trading and rebalancing one’s portfolio. However, much has changed since DeFi gained traction, as most popular assets can help users earn a solid passive income these days. It is not necessary to invest in dozens of currencies to achieve high rewards.
Even for those who have never owned any cryptocurrency, unlocking predictable passive income is within reach. On CakeDeFi, users are guided through the steps of acquiring the supported currency/currencies and putting it to work through the various services to generate passive income. It is an accessible and educational approach capable of bringing in a large mainstream audience.
The big question in many people’s minds is figuring out how often they will get paid. A savings account offers interest once a year, and even then, it often disappoints. In DeFi, and through CakeDeFi, users can access rewards twice per day. Balances will update every 12 hours, and rewards accrue in real-time without delays.
The CakeDeFi offers the most accessible and profitable DeFi features on its platform. Users can opt to stake their crypto, use it for lending, or provide liquidity to the various pools. Each option has a different return and profitability level.
Staking and lending are the least risky options with low volatility for those who are relatively risk-averse. Lending has a return of up to 7% per year, whereas staking can yield up to 34.3% per year. For lending, one can use Bitcoin, Ethereum, USDT, and USDC. Staking is currently only supported for DFI – the native asset of DeFiChain – and Dash. Users can acquire all of these assets through the CakeDeFi platform and convert freely between them.
Liquidity mining is a potent option for those with a bigger risk appetite. However, it requires supplying two currencies in the pool to begin earning rewards. The interest rate can be as high as 97.85% per annum and is supported by over two dozen currencies. Once liquidity is locked in, users can maintain a passive approach and see their earnings add up every 12 hours.
Making all of these features accessible is essential to ensure future DeFi growth. CakeDeFi makes lending, staking, and liquidity easy for novice and advanced users to explore and benefit from. Moreover, no technical expertise is needed to make the most of these options. The platform provides ample guidance to help users on their way to unlock predictable passive income twice a day.