Cake a good investment?

Kambaggo

Kambaggo

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Considering swapping a lot of my altcoins into CAKE and stake it for 60% interest.

What do you guys think of CAKE? Will it drop even more in 2022 or will it go up?

The way I look at it you will always make 60% return on your holding and having to deal.with only one coin it is easier to trade in and out of markets during bear seasons.

Looked at some YouTube price prediction videos but they are all just full of nonsense.
 
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Kambaggo said:
Considering swapping a lot of my altcoins into CAKE and stake it for 60% interest.

What do you guys think of CAKE? Will it drop even more in 2022 or will it go up?

The way I look at it you will always make 60% return on your holding and having to deal.with only one coin it is easier to trade in and out of markets during bear seasons.

Looked at some YouTube price prediction videos but they are all just full of nonsense.
Click to expand...
It's very hard to decide this. What I can tell you is that I've been staking since March and the APY won't keep up with the current price decline. Even though the great returns I have less money then what I started with. Of course I'm expecting the next bull run to pick up sometime this year and CAKE price to return to it's ATH. If that happens I'm golden. If that doesn't happen I've lost money.
 
How did you end up with less money? Isn't their CAKE staking a fixed return?

Or are you farming?
 
Kambaggo said:
How did you end up with less money? Isn't their CAKE staking a fixed return?

Or are you farming?
Click to expand...
It's fixed return, but CAKE itself decreases in value.
Let's say you buy $1000 worth of cake at $10 USD today = that's 100 CAKE (just for the easy calc). If nothing changes you have $1600 worth of CAKE (160) by this time next year.
If however CAKE price is $5 next year. Then your 160 CAKE = 160 * 5 = $800.
If crypto market takes a turn for the better and cake price is $20 then 160 * 20 = $3200

What you have to remember is that you get your return in CAKE. You might achieve 60% APY on cake, but if 160 cake is worth less today than 100 cake did when you bought it, you are out of luck.
 
Gotcha, thanks for clarifying.
 
They do, but does that not go for most altcoins?
 
I think $cake is a good buy, one of a few shitcoins with an actual utility, price will go back to atm and beyond next btc bull run
 
daverawcus said:
I think $cake is a good buy, one of a few shitcoins with an actual utility, price will go back to atm and beyond next btc bull run
Click to expand...
You might be a bit biased based on your signature :D
 
Kambaggo said:
You might be a bit biased based on your signature :D
Click to expand...
I had invested in cake along time before I found that staking farm, anyone buying cake on here would have no affect on that farm yield.

I like any crypto that has a utility
 
Kambaggo said:
Considering swapping a lot of my altcoins into CAKE and stake it for 60% interest.

What do you guys think of CAKE? Will it drop even more in 2022 or will it go up?

The way I look at it you will always make 60% return on your holding and having to deal.with only one coin it is easier to trade in and out of markets during bear seasons.

Looked at some YouTube price prediction videos but they are all just full of nonsense.
Click to expand...
Use it to make yield farming with money that i consider to money that I loose
 
Kambaggo said:
Considering swapping a lot of my altcoins into CAKE and stake it for 60% interest.

What do you guys think of CAKE? Will it drop even more in 2022 or will it go up?

The way I look at it you will always make 60% return on your holding and having to deal.with only one coin it is easier to trade in and out of markets during bear seasons.

Looked at some YouTube price prediction videos but they are all just full of nonsense.
Click to expand...
I have same plan. I will hold only 4 coin BTC, FTM and Matic and cake. but I am not swap in this period. I wait until end january cz still believe will bullish market. I already staked cake in IFO Cake to get IFO allocation and also stake in my SFP wallet to get cake and SFP.
 
indonesiaraya said:
I have same plan. I will hold only 4 coin BTC, FTM and Matic and cake. but I am not swap in this period. I wait until end january cz still believe will bullish market. I already staked cake in IFO Cake to get IFO allocation and also stake in my SFP wallet to get cake and SFP.
Click to expand...
cz will still being bullish if bitcoin drop at 1k$ tomorrow
 
Just finished the swaps, now staking my Cake.

Portfolio simplified, now just hold BTC, ETH and Cake.
 
sGZ9SFN



Which pool are you using? As I can see with the 52-week lock you can have almost +170% but you get 60% only so I assume you didn't lock them in the pool for a year?
 
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