During these times of strange market movements trading decisions are hard (and stressful) for me. So I decided to turn over to Yield Farming. On Harvest Finance some assets have crazy APYs but I don't want to risk too much so CAKE seems like a safe harbor for me. Due to it being on BSC fees are also okay which is really important if you don't want to invest too big amounts.
There are 3 points why I love this decision:
First of all CAKE is pretty cheap at the moment trading for somewhere in between 15 and 20$. For me this means that there is a good chance the value of CAKE will increase again in the next 1-2 years. So you don't only earn APY but also earn from CAKEs price development.
Second there is a great pool on Harvest Finance where you can deposit CAKE only which gives you about 120% APY rewards which are mostly auto-harvested CAKE so you don't have to care about fees very much.
Last but not least you can swap the bFARM you also earn from this pool from time to time to put it into the FARM pool on Harvest but watch out this one is on ETH so gas fees tend to be much higher than on BSC.
I'm really excited how this investment will evolve. I will keep you up to date. What are your favourites when it comes to yield farming?
As always: thank you for reading, liking and tipping.
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PS: I’m not a financial advisor. DO YOUR OWN RESEARCH before investing your money and never invest money you cannot afford losing!