Is Cake Coin good for Passive Income?

[Sayeds56]

Is this a pancakeswap? Isn't this was just a new DEX platform in this field of industry.
For me, it is good and better to gain crypto that are listed on top at the coinmarketcap.
And one of this example are Ada, Vetchain, Npxs, Xem, Link, Bnb, Busd, and others.

You are right that we should invest in Top 10 or 20 Alts of coinmarketcap because they are good projects have yet to show their real colour when 2nd Bull Run will start in Alts coins. CAKE coin is in DeFi sector and it was created on Binance smart chain. It has show tremendous performance during the past months when its went up from 0.20$ to 20 $. currently it is passing through correction phase and I believe it might might break its previous Record Of ATH  in coming weeks..



https://www.tradingview.com/chart/CAKEBUSD/JTpx0RiO-CAKE-buy-signal-on-1D-timeframe-has-formed/

[shinratensei_]

Is this a pancakeswap? Isn't this was just a new DEX platform in this field of industry.
For me, it is good and better to gain crypto that are listed on top at the coinmarketcap.
And one of this example are Ada, Vetchain, Npxs, Xem, Link, Bnb, Busd, and others.

Yes it is. It's a new dex that builds in the binance chain and it already offered so many mining pool mechanism that offers various coins to be earned by the stakers or participants.
This coin is having very big liquidity at this moment and more coins that introduced on the pancake will always send some tokens to be pooled and distributed into the various stakers.

Pancake is also a good coin to be used to get the passive income too and it offered very good APY.

[tvplus006]

Yes, of course, PancakeSwap "CAKE" is a very good project, in fact it's one of the best projects on Binance Smart Chain. It's like Uniswap version on the Binance Smart Chain. It's an excellent platform for generating passive income because it supports Defi Staking, Yield Farming, and Liquidity Mining. I have no second thoughts about PancakeSwap because they are very good at what they actually do. I use only one one platform better than PancakeSwap on the DeFi space which is 1inch, apart from that is Uniswap I guess.

Today, PancakeSwap is the leader in the Binance Smart Chain market. And despite the fact that 1inch has also recently provided its users with the ability to trade on BSC, but I believe that it is still inferior to PancakeSwap. But I would like to see PancakeSwap provide any preferences for CAKE holders.

[Renampun]

I did not invest in CAKE but I see that there is great potential in CAKE...
pancake swap is currently in use by many people and many are swap there, maybe because it uses BSC network so that many people are attracted there. Not only that, CAKE is also listed on Binance, this will automatically make the price great.

[Sayeds56]

In fact currencies are not fixed in one place and their prices increase based on demand and investment so it is difficult to predict. But this currency can be a good project for getting listed in binance is a reliable site for exchange the future of cake currency could be better as passive income platforms need to be thoroughly verified before investing.

You are absolutely right that we should make sure that we are investing in a Legit and reliable company to minimize risk of losing our invested capital. Pancake swap is well reputed and  has good track record of paying record of paying regular reward to those who do staking and faming as well as it has audit certificate. Further more it ias backing of Binance exchange which is Leading world exchange of crypto.

[devollito]

As long as i know if there is a burn coin contract it is worth to invest and earn passive income, how ever cake still not passed the bear market, if cake price is still high while bear market it is worth invest forever as long as blockchain indiatries is live. Pancake platform it self is very trusted dex for BNB. If BNB communities growth and many token created pancake dex will get revenue.

[Pamadar]

In fact currencies are not fixed in one place and their prices increase based on demand and investment so it is difficult to predict. But this currency can be a good project for getting listed in binance is a reliable site for exchange the future of cake currency could be better as passive income platforms need to be thoroughly verified before investing.

You are absolutely right that we should make sure that we are investing in a Legit and reliable company to minimize risk of losing our invested capital. Pancake swap is well reputed and  has good track record of paying record of paying regular reward to those who do staking and faming as well as it has audit certificate. Further more it ias backing of Binance exchange which is Leading world exchange of crypto.

Doing your research save you a lot it's important before investing.

Knowing the project much deeper also extending your opportunities, as you can hold for  long or you can do short and play
with the trends, it's all about how you manage to understand things out from each project that you are going to follow, let
your money work for you a good way for passive incomes.

[jostorres]

Beside making passive income, Early  Investors in Cake have multiplied their capital many folds. Now it is in correction phase as reflected in attached Technical chart. Accumulation can be seen around 13-14$. I consider it another opportunity to take entry for passive income  as well as capital gains.

I agree that it is definitely a great one, however we should also focus why it is a great one and what made it great as well. Cake is a great one because it is a hub, that is always the case with these things and the increase in price is definitely because of that as well.

Why would a coin like this go up in price so much? Because there are many and I mean MAAAANNY other coins that people use that they trade on pancakeswap, that means people need cake a lot in order to make that whole ecosystem work. Don't get me wrong there are other ones as well but pancake is by far the most used one, it is even used more than uniswap right now. That is why the price of Cake went up so much, it is not because cake means anything by itself, all that LP or all that passive income is nothing without those other projects around it. It is a shovel seller during gold rush and that is very profitable.

[Yogee]

This topic was posted on Feb. 3, 2021 when the price was just around $2 and it is currently trading around $16 based on the Coingecko data. It looks like many people have missed the early train judging from the first pages. This just shows that nobody gets it right all the time. Some people expressing their opinion probably didn't even check the project first.

......

I remembers seeing a tweet about Pancake team distributing part of the fees they earn to all Cake holders. That's another passive income.

[Insober]

If you buy these coins on a drawdown, and then throw them with another stable coin into the liquidity pool, then it is clear that this will be profitable, but everything can happen in the market and if the CAKE falls, then you can lose your money.

You can make money on this, but you need to be careful

[Sayeds56]

This topic was posted on Feb. 3, 2021 when the price was just around $2 and it is currently trading around $16 based on the Coingecko data. It looks like many people have missed the early train judging from the first pages. This just shows that nobody gets it right all the time. Some people expressing their opinion probably didn't even check the project first.

......

I remembers seeing a tweet about Pancake team distributing part of the fees they earn to all Cake holders. That's another passive income.

True. I experienced it one of the best DEFI where you can earn passive income without any fear of scam and daily rewards are also  handsome, Investment in cake has gone up more than 20X during the past 6 months. The team is consistently working hard and every now and then they sign new partnership. Technically speaking CAKE is now in Bullish zone and next likely target is 27$.




https://uk.tradingview.com/chart/CAKEUSDT/2Ezp4F8M-Update-target-almost-reached/

[ingiltere]

Meanwhile we are farming CAKE-BNB they announced new IFO with the new system today. First CAKE price was faster, now BNB price is faster. CAKE-BNB hold same share as two-three months ago. There were no big impermanent loss. Now I'm expecting closer rise for CAKE and BNB.
I also stake my CAKE in various pools. You can't see APY this big in any other defi platforms. Maybe PancakeBunny, but it also covers CAKE.

[xiboothrezi]

I am just curious if this kind of performance will continue in a long-term basis. Will users be able to stay long term in this platform and just let earn passive income? What will happen if staking or farming is not a thing anymore in crypto? Though right now, it is the go-to to earn passive income, one should also prepare for the worst possible scenario in the future. I don't think that the generation of passive income will be forever.

we know that the trend is always changing, while there is a good opportunity then take advantage of it properly, if you feel that it is getting bored and a new trend appears then be prepared for it.

Staking and a combination of automated market maker systems to make Cake have a lot of fans. Especially in the midst of high ETH gas prices, yield farmers are more likely to choose the BSC network which costs less, which is why the volume of cake trade has also increased. Therefore, for the long term and passive income, I think cake still has a positive trend.

[Pom_bensin]

if for passive income I think coin cake is very good for now. because we know this cake coin has not been tested long term and is still new in crypto, so I think this is the best passive income when the cake coin trend is currently popular.

[Kitaiev]

PancakeSwap popular exchange and i like to trade here because it's has a small commission. At this point the exchanger passes Easter Battle and my team wins this competition. Cake is definitely worth having in his portfolio.

[adzino]

Not sure about all these new Defi coins, but kinda sounds like they all are just trending and once the hype is over, the price is going to get dumped and most of the people is going to make huge loss. The way the price got pumped up by 400%, in the same way, the price might get dumped.
If you think you have done your own research and see that the cake coin is actually worth investing and has good potential, then go ahead and invest. If you want to invest just because of the trend and make quick profit, then think again.

[Sayeds56]

PancakeSwap popular exchange and i like to trade here because it's has a small commission. At this point the exchanger passes Easter Battle and my team wins this competition. Cake is definitely worth having in his portfolio.

Absolutely right, it is the most popular DEX on Binance smart chain and has good track record of paying regular rewards to its investors though its price also declined more than 70% ( from $ 44 to almost $ 13) during the  past 2 months with slide in Bitcoin price but it happened with almost every alt coin. Crypto market is very volatile and so is Cake.

[MadeMen]

 Cake tokens has been gaining popularity just like other Defi projects and that has contributed to the market value increasing, but I'm personally not very comfortable using the tokens for passive income as it requires investing a substantial amount of cake and with the news we hear about hacks on Defi platforms, I'm not comfortable with the investment.

[Pamadar]

Cake tokens has been gaining popularity just like other Defi projects and that has contributed to the market value increasing, but I'm personally not very comfortable using the tokens for passive income as it requires investing a substantial amount of cake and with the news we hear about hacks on Defi platforms, I'm not comfortable with the investment.

You have your point, and surely those who are investing with this kind of passive income also consider those possibilities.

As we go along the way this market keeps on challenging your skills finding the right information to continue following this asset and make sure that you have that understanding to chase your opportunities.

good passive income really needs bigger amount of investment, you are the one who holds full responsibilities to whatever outcome that may happened with your invested money.

[dimonstration]

Cake tokens has been gaining popularity just like other Defi projects and that has contributed to the market value increasing, but I'm personally not very comfortable using the tokens for passive income as it requires investing a substantial amount of cake and with the news we hear about hacks on Defi platforms, I'm not comfortable with the investment.

We should not depend on single income as well on passive ones its good to invest as long as we know our limits and responsibilities in monitoring it. We should also diversify it as much as possible in coins that already proven their use as well been tested in time. As for new coins still have low chance of surviving in a volatile market especiall now that crypto is at bear season.