**Cake Defi are running an Olympics offer until 8 August and have increased their rewards– you get $50 of DFI when you sign up to Cake Defi and deposit $50 of crypto. You will also get $25 worth of DFI for every friend that signs up and completes the offer. You can also get additional bonuses until 8 August; - $50 DFI if you refer two people; $100 DFI if you refer 5 people; $200 DFI if you refer 10 people and $400 DFI if you refer 50 people.
You can withdraw your $50 of crypto immediately if you wish. Your $50 DFI bonus will be locked and staked for 180 days (interest is added daily and the staking rate is currently a fantastic rate of 104.7% APY so you will have earned a good amount of interest after 180 days) .
Cake Defi allow you to hold crypto and earn interest by lending, staking or liquidity mining. There is no deposit fee for Bitcoin, DFI, Dash, Litecoin, Dogecoin or Bitcoin Cash. For a first deposit for ETH, USDT or ERC20 token, since newly generated Ethereum addresses come at a significant cost to Cake DeFi, there is a one-time address creation fee of $70, in the particular coin being deposited.
The cheapest cryptos to withdraw from Cake Defi are DASH, DFI, Litecoin and Bitcoin Cash.
Dash: 0.003 DASH
DeFiChain: 0.2 DFI
Bitcoin: 0.0005 BTC
Ethereum: 0.012 ETH
Tether: 25 USDT
Litecoin: 0.01 LTC
Dogecoin: 5 DOGE
Bitcoin Cash: 0.001 BCH
USDC: 25 USDC
You cannot sell crypto on Cake Defi so you will need to withdraw your deposited crypto and bonus. Since DFI is only 0.2 DFI to withdraw, and since you will need an Exchange that supports DFI when you come to sell your bonus DFI, I recommend buying $50 of DFI on Bittrex or Kucoin and depositing to Cake Defi. Bittrex give you free tokens on signing up that give you $15 towards fees so withdrawing $50 DFI to Cake Defi would be free. After 180 days you can withdraw your bonus $50 DFI (plus staking interest) from Cake Defi to Bittrex and sell on Bittrex. The Bittrex Exchange now supports SEPA Euro deposits (I deposited Euros to Bittrex from Revolut however you could use any other Euro account you have e.g. Monese, Starling etc).
Steps:
Buy your crypto on another platform and send $50 to CakeDefi in a single (first) deposit.
Sign up to CakeDefi using my link Cake DeFi – Get cash flow from cryptocurrencies and enter 18058 if asked for a code.
Complete account verification (requires passport photo and uploading either a phone bill, bank statement or utility bill (JPEG, PNG or PDF)). I was verified within 10 minutes.
Tap Wallet, tap Deposit (e.g. on BTC) and deposit at least $50 of crypto.
Once your crypto deposit is confirmed your DFI bonus is added, staked and frozen (locked) for 180 days. Click ‘Freezer’ then scroll down to the Freezer to see your DFI – set Auto renew to Off. This ensures that after 180 days your DFI can be unstaked and sold rather than frozen again.
You can instantly withdraw your $50 crypto deposit. Tap your profile (top right) select ‘Withdraw’ on your crypto.
After 180 days you are free to withdraw your DFI to a platform such as Bittrex or Kucoin.
Refer a friend
When someone uses your referral code, signs up and makes a deposit of $50 of crypto you will receive $25 worth of DFI. You can refer as many people as you wish.