In this article i wanted to show you how to stake DFi coin along with staking ethereum, dogecoin, litecoin and tether to earn huge yearly profits when compared with traditional coin mining or coin staking.
Cake Defi is Decentralized financial system that allows users to earn profits via coin staking, coin lending and liquidity mining.
The platform runs on it's blockchain called Defi chain and the system allows for a full suite of decentralized financial tools including a decentralized exchange.
Defi chain allows anyone to create a token instantly and it also allows for assets to be tokenized and traded on the chain, much like Binance smart chain.
Users are able to send bitcoin and ethereum on the DeFi chain instantly and for virtually no fee.. along with earning high profits for holding coins.
Ethereum, bitcoin and other popular coins can be staked in the liquidity pool which allows the decentralized exchange and other applications to work, and by holding funds in these smart contracts you will receive a share of the profits generated from the system.
This means you are able to stake coins in the system and receive much higher profits than you would from traditional lending systems or actually mining the coins yourself using asics or gpus.
You can also stake DFI coin itself and currently the APY is huge.. around 97% yearly with auto compounding enabled - although this will most likley change over time as more users stake DFi tokens.
Payments are made every 12 hours and it's quick and easy to unstake your tokens and withdraw your profits.
All you need to do is visit the staking section, choose how many DFi you want to stake and then click stake - it's instant and has no fee and will start generating profits immediately.
If you use my referral link here you will receive a bonus of $10 in DFi, along with $20 in DFi when you deposit $50 or more.
The easiest way to buy Defi is on Kucoin exchange, and once you deposit Dfi you will start earning staking rewards within 12 hours and your bonuses will be credited. Please note your bonus coins will be locked and staked for 180 days, although they will of course be generating profits for you the whole time.
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List of staking coins - https://stakingcoins.net
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