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US$30 in Free Crypto with US$50 Deposit @ Cake DeFi

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US$30 in Free Crypto with US$50 Deposit @ Cake DeFi
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obsessive1234 on 02/06/2021 - 19:34 app.cakedefi.com (299 clicks)
Last edited 02/06/2021 - 23:08 by 2 other users

Cake DeFi is a platform that allows users to generate cash flow through pooled masternode staking and options lending.

They are currently promoting a referral program whereby new users get 30USD free in DFI if they deposit 50USD. You won't receive the DFI for 180 days but in the interim you'll receive high interest + DFI as a cryptocurrency is performing great (potentially capital gains in the 180 day period).

You can deposit 50USD using AUD via PAY ID (osko) or alternatively you can e.g. transfer LTC, BTC etc. from a different cryptocurrency exchange (e.g. Binance or CoinSpot is very low fees).

Referral Links

Referral: random (11)

US$10 bonus for referrer and US$30 referee with US$50 Deposit.

Financial Cryptocurrency

Related Stores

Bake (Formerly Cake DeFi)
Bake (Formerly Cake DeFi)

closed Comments

  • froogletom on 02/06/2021 - 19:36

    Can you sell cryptos unlike other platforms wouldn't want to buy and not be able to sell

    • obsessive1234 on 02/06/2021 - 19:41

      Unfortunately you'll need to send them to a different exchange to sell for AUD (I'd recommend Binance or Coinspot) - very easy to do though!

    • Joz2988 on 02/06/2021 - 19:45

      Independent reserve is also good for crypto to AUD.

  • Sarinella on 02/06/2021 - 19:41

    You can withdraw your 50$ Immediately after receiving the bonus

  • froogletom on 02/06/2021 - 19:42

    I don't think coinspot or binance let u sell when i was looking its either that or I deleted the app because of the lack of cryptos they had

    • obsessive1234 on 02/06/2021 - 19:43

      You can transfer DFI to e.g. BTC on the CAKEDEFI platform. Then you can sell the BTC on a different platform (e.g. CoinSpot / Binance).

    • MBix on 02/06/2021 - 19:44
      +2

      Converted some poocoins to BNB and transferred to CoinSpot to convert back to AUD today and it was in my bank account moments later.

      (TL;DR: selling and withdrawing on CoinSpot is simple)

      • Shostaholic on 02/06/2021 - 22:06
        +1

        Second this, been using Coinspot for a while now and had no problems with selling and withdrawing. The whole process is no different to trading shares via broker e.g. Commsec.

      • greatbuy on 03/06/2021 - 07:19
        +1

        Also, you can sell into the Binance and convert it into AUD. Then withdraw AUD straight to your bank from Binance. It's like osko payment within a second into your bank.

  • Joz2988 on 02/06/2021 - 19:48

    What do you need to verify to get the free crypto? Email and phone or the full DNA test?

    • obsessive1234 on 02/06/2021 - 19:49
      +11

      Just a blood test, stool sample and three strands of hair

      • obsessive1234 on 02/06/2021 - 19:50
        +1

        Jokes - just a passport and a photo IIRC

        • sharky_k on 02/06/2021 - 21:11

          no passport no crypto?

        • Ch3apsk8 on 07/06/2021 - 23:18

          passport, photo of passport, photo of you holding passport with note, AND a utility Bill to confirm your address :/

  • sc00terMcTav on 02/06/2021 - 19:50

    Not sure about uploading my password as ID.
    feel odd about using my drivers licence as ID for some of these services.

    • Joz2988 on 02/06/2021 - 19:57

      I used to use photoshop and watermark mine but they get rejected these days.

  • sarge_017 on 02/06/2021 - 19:53
    +5

    Yeah nah. I only KYC with Australian exchanges - at least I know my data is protected by Australian consumer law

  • TheFlyingCoder on 03/06/2021 - 07:25
    +1

    unrelated to the post, but I'm going into Swytx and binance, anyone have links to actual credible reading to properly ensure I don't do something stupid? haha

    everywhere you google is just paid promotion

    • tulip99 on 03/06/2021 - 08:16

      I joined Sywftx on Mon and got the free 15 in bitcoin. I like Cryptotips, and Brian Jung on Youtube. Cryptotips has a Patreon group but I haven't joined.

      I have a seperate email for crypto and seperate bank account and use Brave browser on sep device but I'm a total newbie.

    • cptdandan on 03/06/2021 - 09:03
      +1

      been using Swyftx for about 4-5 months & it is awesome.

      • raghuchary on 05/06/2021 - 15:50

        +1 from me. Been using for a similar period and no complaints

  • sal78 on 03/06/2021 - 08:06
    +1

    How do you deposit? Does it gave to be defi or deposit to whatever i want?

    • leonardoryan on 06/06/2021 - 03:57

      I deposited DFI that I bought through KuCoin exchange. Cake itself allows you to buy DFI with AUD

  • sal78 on 03/06/2021 - 09:13

    This is all new to me. I bought DASH and deposited to Cake. It say 10 confirmations? Is that roughly 2hrs?

    It's so confusing. DASH does not seem like a good buy but usd$50 is ok for fun n games.

    • obsessive1234 on 03/06/2021 - 11:22

      DASH avg transfer time is 3mins.

  • bobwokeup on 10/06/2021 - 15:01

    I’m guessing there is no way to avoid the 2% gateway fee when depositing?

  • bobwokeup on 10/06/2021 - 17:00

    I thought I figured out how to avoid the fee by paying more in AUD and using PayID but I got this error message:

    “Unfortunately, this payment method is currently unavailable. Please create a new order and select a different payment method.”

    Has anyone managed to deposit using AUD?

    • liam2040 on 14/06/2021 - 02:12
      +1

      Hey mate, the cheapest way to load up on DFI within the platform is to use the swap feature inside the wallet. If you choose the buy option, there is about a 7.5% premium worked into the spread. If you swap crypto instead, there is about a 1.5% premium over the true spot rate. I guess that is how Cake make their money off you.

      So then the next question is what is the cheapest way to get crypto in to Cake. I eventually found out that shadowangel was correct with the advice that ftx.com is your best option for getting money into the system (there's an ozbargain promo code somewhere). Deposit your AUD via PayID and then buy your chosen crypto (i used BCH) at practically spot rate. Then deposit to your cake wallet…

      7 days in i have about 1.5% total gain from staking which works out to be about 115% APY.

      • bobwokeup on 15/06/2021 - 12:48

        Hey mate I managed to buy DeFi with credit card and Cake pay the fee. Like you said I guess they want people to buy them so they can make money off them. I staked and froze them all for 6 months which is how long I have to wait for the bonus anyway.

        So how do we get the referral for FTX?

        Yeah I’m seeing gains too. Today my assets just went up 7.5%

        • liam2040 on 15/06/2021 - 23:25

          Yeah I just froze too … just let it do its thing until December.

          For FTX, somehow i got the ozbargain referral auto applied … ftx.com/#a=OzBargain or you can go to ozbargain.com.au/deals/ftx.com for the random referrals. Deposits seemed to take about 2hrs to be cleared with PayID but that was after hours.

          • bobwokeup on 15/06/2021 - 23:48

            @liam2040: Yeah agreed that's what I'm going to do as well. Good xmas present haha

            Ah okay cool cheers I'll look into it.

      • GirlFriday on 17/06/2021 - 09:15

        Excuse the newbie question.. but if I have crypto on another exchange (Binance, Crypto.com) are you saying its cheaper to transfer in that crypto and swap for your chosen crypto, than to sign up to cake defi and deposit AUD to buy your chosen crypto?

        • AncientWisdom on 17/06/2021 - 12:07
          +1

          You can only buy AUD on cake using credit card. Although they say no fees, if you check you'll discover there is a 5-8% difference between depositing crypto and swapping to buying directly on cake.

          I also went the BCH route with FTX and it was sweet.

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