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Cake Defi has increased their bonus to a massive $50 of free DFI
What they used to offer was $30 worth of free DFI if you signed up verified and deposited $50 of cryptocurrency
That bonus has now been increased to $50 up $20, a cracking bonus.
Then the referral bonus at the moment up from a cracking $10 to $25
I have already fanboyed Cake Defi once before but I am doing it all again
Also whether it is wishful thinking or not I think it is rather undervalued at current prices as is all crypto or most likely.
The offer: How to get some DFI
So for signing up and depositing you get $50 free DFI so step by step lets go through it
1) First of all you just need to sign up to Cake DFI with an email address and password - You will get $20 for signing up without a referral link or an extra $30 of DFI for signing up with my referral link. - Sign up here https://app.cakedefi.com/?ref=919426
Referral code: 919426
Some people have commented that the KYC (Know your customer) for cake is a bit obtrusive and asking a lot. Personally, I think it is the same as opening a bank account, I need to give them more than just my email address and a funky password as some 2-factor authentication. For it to be well managed and secure I think these are needed - That being said I wouldn't dive in and send just anyone willy nilly some personal details of myself. Due to all manner of reasons - But the ones I trust have at it. Nobody wants my identity any way I am an arse.
2) So yeh you will need to then complete the KYC - for this, you will need
Your full name, country of residence, mobile number, national ID or passport and proof of address
The following are the acceptable type of residence proof:
Phone or internet bill
Bank statement or bank letter
Electricity, gas, water, or other utility bills
Government-issued documents such as; tax declaration/filing, voter's registration, property tax, newly issued driver's license, etc.
Then you just need to deposit $50 worth of crypto in the cake address
DONT DO ETHEREUM THEY CHARGE A ONE TIME FEE OF $10
Also deposit a little bit more than $50 someone I know lost their chance of a referral as they deposited bang on $50 and then the transaction fee / price fluctuation saw them dip under.
I Used dash as it was recommended by someone as being fast and cheap at the time, and I am pretty sure that at the time they didn't accept BCH Bitcoin cash- I would use something with low network fees like dash or BCH.
But you can transfer any of the following into Cake defi -
Bitcoin: No Deposit Fee
DeFiChain: No Deposit Fee
Dash: No Deposit Fee
Litecoin: No Deposit Fee
Dogecoin: No Deposit Fee
Bitcoin Cash: No Deposit Fee
The best thing about this was that as opposed to other money offers in the crypto world you would have to buy some from the platform, with cake defi you have some crypto transfer it over. Then if you don't want to keep it in there you can withdraw it straight away and just keep the free DFI.
4) And that is step 4: $50 of DFI
It should arrive quite quickly into your account. Remember your DFI is locked in for 6 months staking away and then you will either be able to extend or withdraw.
DFI has been on the rise this year since I started it is now above $4 so you can expect to get 6.787 DFI on today's price
Job done easy peasy
Again if interested sign up here.
So what is DFI
"DeFi Blockchain is a decentralized blockchain platform specifically dedicated to enable fast, intelligent, and transparent decentralized financial services, accessible by everyone, everywhere.
Running on a proof-of-stake consensus mechanism, it features proven security and immutability by anchoring its most recent Merkle root to the Bitcoin blockchain every few minutes. The platform also features unparalleled high transaction throughput for all transactions, and reliable decentralized governance, on and off-chain."
Still, relatively new coins were only issued in May 2020.
DFI is used for fee payment for all transactions and smart contracts on DeFiChain.
Fee payment for decentralized exchange transactions
Fee payment for token transfers
Fees payment for DeFi activities:
Lending loan interests payment
You have to stake your coins for a minimum of 6 months earning at current rates a whopping 103.5% it likely won't stay like this forever, but probably in the short term, it still will be.
But the basic sign up deposit $50 of crypto and withdraw straight away if so choose to wait 6 months, free DFI win-win - Sign up here to start with $50
I am looking at the price, as well currently at just over $2.00 its ATH was at $4.80 there is big room for potential, I think the staking and freezer options of this coin are exciting as well, I expect it to do well, but I know nothing so perhaps more a hope.
But with the fact you can withdraw your deposit straight away, this is a no brainer for me.