I did an expose on CakeDefi a while back — you can look it up — and I brought out the problems with the project. I also said I was holding a small bag because the trend on the coin was up and I wanted to take advantage of it. But if you want to stake in the project, you have to KYC with a platform that's run by an alleged scammer and possible federal informant.

I don't even give my information to authorities with guns and drones. Why would I give them to some random guy who exit scammed in his previous project and doesn't even live in his home country?

There have been too many articles being bullish on Cakedefi. I have to present the rest of the argument and not just #numbergoup bullshit. But I'll use this more as a general strategy for these kinds of projects because I've already said what I need to say on Cakedefi.

First of all, the entire market is going up right now. I'm not getting any added benefit from investing in the DFI token. UBI, UTK, CHSB and just about everything else is going up at the same rate.

Second, and most importantly, you must know the difference between a short-term hold for #numbergoup and actually investing in a project. Just holding a coin is very low maintenance, it's highly liquid, and it's easy. Investing in a project through staking, governance, downloading dapps, etc. costs you money and time. I can't tell you how many losses I've incurred because I somehow confused the two. And the big trap that got me all the time — high APYs. That's how they rope you in. If the project is bad, it's NEVER worth it.

So I'm not getting roped on this one, especially since moving from stage 1 to stage 2 here requires personal info. That's against the entire philosophy of crypto, and this project already has competition. Badger.Finance is also building defi on bitcoin, and they don't make you fucking go get your ID cards to participate.

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Always remember:

Burgerswap Bridge will steal your crypto
Deus.Finance is led by a psychotic wannabe despot
AllianceBlock is a shit project
All algorithmic stablecoins (Basis Cash, Mithril, Empty Set Dollar) are a SCAM

Don’t get your bitcoin from PayPal
Trade on BSC, not Ethereum
Ivan on Tech, Elliotrades and Bitboy are complete liars, and
If you are always losing money trading crypto, read here.