$30 free crypto with cake defi

Get some free crypto (DFI token) worth $30 for FREE when you sign up to Cake Defi

 

The Cake Defi bonus has been one of the best ones out there for a while, if you haven't signed up yet then it is definitely worth a go. You can get $30 worth of DFI token absolutely free, you do need to deposit $50 worth of crypto but you will be able to withdraw this straight back if you so choose.

Sign up here

Enter. code 919426 to get the bonus

The offer: How to get some DFI

So for signing up and depositing you get $30 free DFI

Step by step lets go through it

1) First of all you just need to sign up to Cake DFI with an email address and password - You will get $20 for signing up without a referral link or an extra $10 of DFI for signing up with my referral link. - Sign up here

Referral code: 919426

Some people have commented that the KYC (Know your customer) for cake is a bit obtrusive and asking a lot. Personally, I think it is the same as opening a bank account, I need to give them more than just my email address and a funky password as some 2-factor authentication. For it to be well managed and secure I think these are needed -

That being said I wouldn't dive in and send just anyone willy nilly some personal details of myself. Due to all manner of reasons - But the ones I trust have at it. Nobody wants my identity any way I am an arse.

2) So yeh you will need to then complete the KYC - for this, you will need

Your full name, country of residence, mobile number, national ID or passport and proof of address

The following are the acceptable type of residence proof:

  • Phone or internet bill
  • Bank statement or bank letter
  • Electricity, gas, water, or other utility bills
  • Government-issued documents such as; tax declaration/filing, voter's registration, property tax, newly issued driver's license, etc.
  • For the UK you will need a passport as a driving license is not included, which is unfortunate as there have been a few people I have known that as a consequence haven't been able to sign up

There is a list of excluded countries here that cant participate in the scheme can be found here : https://support.cakedefi.com/hc/en-us/articles/360040335072-Which-countries-are-currently-not-able-to-use-the-Cake-Services-

3) Then the deposit:

Then you just need to deposit $50 worth of crypto in the cake address

DONT DO ETHEREUM THEY CHARGE A ONE TIME FEE OF $10

Also deposit a little bit more than $50 someone I know lost their chance of a referral as they deposited bang on $50 and then the transaction fee / price fluctuation saw them dip under.

I Used dash as it was recommended by someone as being fast and cheap at the time, and I am pretty sure that at the time they didn't accept BCH Bitcoin cash- I would use something with low network fees like dash or BCH.

But you can transfer any of the following into Cake defi -
Bitcoin: No Deposit Fee
DeFiChain: No Deposit Fee
Dash: No Deposit Fee
Litecoin: No Deposit Fee
Dogecoin: No Deposit Fee
Bitcoin Cash: No Deposit Fee

The best thing about this was that as opposed to other money offers in the crypto world you would have to buy some from the platform, with cake defi you have some crypto transfer it over. Then if you don't want to keep it in there you can withdraw it straight away and just keep the free DFI.

Now with the deposit remember, to check your wallet addresses, properly, make sure you are sending the right coin to the right wallet address, this is pretty straightforward. But it is always worth remembering. When depositing just find the coin you are using and click deposit and that is your deposit address that on your other account whatever that may be that you will send it to

 

4) And that is step 4: $30 of DFI
It should arrive quite quickly into your account. Remember your DFI is locked in for 6 months staking away and then you will either be able to extend or withdraw.

Job done easy peasy

Again if interested sign up here.

5) Then if you want you can refer your friends and get $10 free DFI for each one that signs up. It is important to follow all the steps properly to ensure minimising the transaction fees, remember dash.

So what is DFI

"DeFi Blockchain is a decentralized blockchain platform specifically dedicated to enable fast, intelligent, and transparent decentralized financial services, accessible by everyone, everywhere.

Running on a proof-of-stake consensus mechanism, it features proven security and immutability by anchoring its most recent Merkle root to the Bitcoin blockchain every few minutes. The platform also features unparalleled high transaction throughput for all transactions, and reliable decentralized governance, on and off-chain."

Still, relatively new coins were only issued in May 2020.

 

$DFI coin- what is it

The $DFI coin will be the integral unit of account in DeFiChain ecosystem.

The DeFiChain Foundation will be issuing the DeFi utility token, DFI, capped at 1,200,000,000 (1.2 billion) for throughout its lifetime. There will only ever be 1.2 billion DFIs created.

DFI is divisible up to 8 decimal places.

$DFI coin Utility

  • DFI is used for fee payment for all transactions and smart contracts on DeFiChain.
    • Fee payment for decentralized exchange transactions
    • Fee payment for token transfers
  • Fees payment for DeFi activities:
    • DEX fees
    • XCX fees
    • Lending loan interests payment
    • etc.

You have to stake your coins for a minimum of 6 months earning at current rates a whopping 103.5% it likely won't stay like this forever, but probably in the short term, it still will be.

But the basic sign up deposit $50 of crypto and withdraw straight away if so choose to wait 6 months, free DFI win-win - Sign up here to start with $50

I am looking at the price, as well currently at just over $2.00 its ATH was at $4.80 there is big room for potential, I think the staking and freezer options of this coin are exciting as well, I expect it to do well, but I know nothing so perhaps more a hope.

But with the fact you can withdraw your deposit straight away, this is a no brainer for me.