March 12, 2021 (I started my farming journey)
Disclaimer: Crypto and farming comes with risk, I am not a financial advisor. If you want to try farming please DYOR and always remember to only invest what you can afford to lose. I am not connected with the beefy finance, hence they don't pay me to write this article.
As you can see, once you open the DApps at your Trust Wallet or maybe Metamask you will see the warning ⚠️ which is to DYOR before investing. Just like any other users here, I am also excited to document my farming journey in this crypto universe.
Flippin some Cake at Pancakeswap 🥞 🥞
Before farming at beefy I already tried staking some $CAKE at Pancakeswap. I bought the cake at $13 kinda pricy but I am itching to do staking and farming lol, I will just unstake or sell it at a higher price. I tried it last two weeks ago, February 25, 2021, to be exact. I even made a video not so highly video guide on how to do staking at Pancakeswap. If you want to watch it, watch at your own risk 😂 just don't mind my terrible voice and editing skills lol.
I have 5.720 cake which cost $61, and now it already grows 0.312 cake at $3.73 at the current price of cake which is $11.90 as of writing, it is not that fast since the APR is 130.03% only but I like it, its an honest work and much better than Nexo. I didn't sell any of my BCH for this, I used the $50 I got from the Bityard video I made (thanks to PVM) and added $11 from selling my shitDogecoin left.
Farming Cake and Banana 🚜 🚜
Just today, I started farming at beefy finance using CAKE to also farm Cake and Banana to farm more Banana. I didn't use any liquidity pair yet, I am too lazy to do so and besides, I am out of BNB. I just used whatever resources I have. I didn't pay attention or notice that beefy has a higher APY after I read the @leejhen article.
I unstaked my Banana at Apeswap but I didn't unstake my Cake at Pancakeswap.
I sold my KAVA earlier, I am glad I did although it pumps a little more I am just glad because I have some spare to buy another cake. I bought another 4.437 cake worth $54.51.
Banana has 6.17k% APY and 1.14% Daily which is higher than staking at apeswap. While cake has 290.68% APY and 0.37% at the time of approving the contract.
As you can see in the photo I deposited 4.41711305 Cake while Banana is 9.54367553.
Currently, as of writing this article it's already 4.42465466 cake farmed 0.007, while 9.59252177 banana and farmed 0.048. Isn't it amazing? I just started it during morning PH time, well I know it's not that much and my capital is not like others that were huge but I was happy I already started this farming journey.
You might expect some guides in this article but I am kinda lazy and didn't able to screenshot some steps I've done, but it was just an easy process, or read @leejhen article, she documented the step by step process of farming at beefy just checked her article, here.
I will also make an update once I harvest it and I am looking forward to that day, if you read Leejhen's article she is making good profits, I hope mine too. Well, I will harvest it when the cake and banana price rise, that's how crypto works anyway just like buy low and sell high.
Before I'll end this article, I made a meme. Some people at crypto evolved like this, do you agree? 😂🤦♀️
Again, I didn't sell my BCH for this. It will always be at the top of my portfolio, currently doing my best to reach my 2BCH I hope before April ends I can achieve it if the favor goes with me.
Everything comes with risk, it only varies with the risk level, so it's up to us if we take a risk or not but as the saying goes, “no guts, no glory”. If you don't have the guts to take the risk then don't expect glory.
Love the Meme <3 HAHA