Hodl one newly launched cryptocurrency and earn automated rewards in CAKE tokens, the PancakeSwap native cryptocurrency. Moreover, the only thing you have to do is to buy and hold the BABYCAKE cryptocurrency in your Binance Smart Chain compatible wallet. Keep on reading my blog post and learn how to earn rewards in CAKE tokens, what is BABYCAKE, what crypto wallets to use, and how much I earned in 24 hours.
Also, if you are a trader and want to trade CAKE tokens among a lot of other cryptocurrencies, Binance is the biggest crypto exchange and the most innovative. Furthermore, if you are new to Binance, register with my referral link and get 5% off at your trading fees plus other new user benefits. Just press the button below.
Please note that I am not a financial advisor, and don’t consider this as investment advice. Everyone should do their own research before investing in any cryptocurrency or blockchain project.
What is BABYCAKE?
BABYCAKE is a recently launched blockchain project which rewards the token holders in a different cryptocurrency, the CAKE token. Moreover, the dividends will be paid automatically to every holder’s wallet, with a frequency of 60 minutes.
The rewards in CAKE are paid from every transaction made, buys or sells of BABYCAKE. To explain better, every transaction of BABYCAKE created has a fee of 15%, and these fees are split in three. Firstly, 7% will be in CAKE redistribution. Secondly, 3% will go to the liquidity pool on PancakeSwap. And third, 5% will go for marketing.
Additionally, the sell orders of BABYCAKE tokens will have 1% more in fees, therefore the sell orders created will have a total percentage of 16% in fees. According to the BABYCAKE team, this is an anti-swing feature to prevent the whale control.
The BABYCAKE token currently can be bought from the PancakeSwap AMM, and the contract address can be found here: https://bscscan.com/token/0xdb8d30b74bf098af214e862c90e647bbb1fcc58c. When buying BABYCAKE, you need to enter this address to find the token, import it on the platform, and it’s done. Now you are ready to buy BABYCAKE.
Also, the BABYCAKE team informs that the slippage needs to be set at 15%, but I set it at 3% and it worked for me. My recommendation is to try with different slippage settings and not to try directly a high slippage on PancakeSwap.
For the persons who would like to trade the BABYCAKE token on a centralized cryptocurrency exchange, the token is also listed on ZT Global exchange, in trading pair with USDT – Tether. I used the PancakeSwap AMM, because I am a hodler, and to receive the dividends in CAKE, I didn’t need to move the tokens from my wallet. See below what wallet I used and the total dividends received in 24 hours.
How to earn rewards in CAKE tokens?
For those who are unfamiliar with CAKE cryptocurrency or the Binance Smart Chain ecosystem, the CAKE token is the native cryptocurrency of the PancakeSwap platform, a decentralized automated market maker (AMM) who operates on Binance Smart Chain. PancakeSwap is just like Uniswap which runs on the Ethereum blockchain.
CAKE is one of my favorite tokens, and the most of the tokens I have them staked on Autofarm, another favorite platform. On Autofarm, the CAKE token brings an APR of approximately 100%. But, this reward rate can change at any time.
Let’s get back on how to earn rewards in CAKE tokens by hodling your BABYCAKE cryptocurrency. This is a simple job, you just need to buy BABYCAKE cryptocurrency and keep it in your compatible Binance Smart Chain wallet.
The dividends in CAKE token will be sent to you automatically every 60 minutes. Therefore, there is nothing to be done, only to hold your BABYCAKE tokens. Note that, it is required to hold a minimum amount of 200,000 BABYCAKE tokens in your wallet to receive the dividends.
Also, be informed that if the trading volume is low, the dividends will not be paid at 60 minutes. In this case, the CAKE dividends will accumulate and then be sent to your wallet.
What crypto wallets to use?
To receive the CAKE rewards you will need to hold your BABYCAKE tokens in a Binance Smart Chain compatible wallet. The most commonly ones are Metamask, Binance Smart Chain browser extension wallet, and Trust Wallet. Note that, the Metamask wallet will need to be set to operate on Binance Smart Chain.
I have used the Trust Wallet and the PancakeSwap Dapp to buy 230,100 BABYCAKE tokens. In this case, and at the time writing this blog post, the BABYCAKE tokens can not be viewed directly in Trust Wallet, only on the PancakeSwap Dapp. Therefore, if you buy in this way, don’t worry, the tokens are yours, only the Trust Wallet doesn’t see them yet.
Conclusion about BABYCAKE and CAKE rewards received
It’s been about 24 hours since I bought the above amount in BABYCAKE tokens. At first, I was skeptical regarding the rewards, but I have to say that it works.
So, in approximately 24 hours, holding this amount of BABYCAKE tokens I have received somewhere around 0.12 CAKE, which is almost $2. I know this is not much, but at the same time I am not holding a large amount of BABYCAKE.
As you probably realize, the rewards depend on how much BABYCAKE tokens everyone holds, and also how many Hodlers are there. Therefore, the larger the amount of BABYCAKE, the bigger the earning potential in CAKE dividends.
If you are a trader and want to trade CAKE tokens among a lot of other cryptocurrencies, Binance is the biggest crypto exchange and the most innovative. Furthermore, if you are new to Binance, register with my referral link and get 5% off at your trading fees plus other new user benefits. Just press the button below.
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- Earn CAKE tokens by only holding one cryptocurrency | BABYCAKEHodl one newly launched cryptocurrency and earn automated rewards in CAKE tokens, the PancakeSwap native cryptocurrency. Moreover, the only thing you have to do is to buy and hodl the BABYCAKE cryptocurrency in your Binance Smart Chain compatible wallet.
This BABYCAKE and how to earn CAKE cryptocurrency is intended for informational purposes only. Therefore, the views expressed in this document are not, and should not, be construed as investment advice or recommendations. Readers of this document should do their own research, taking into account their specific financial circumstances. Also, the investment objectives and risk tolerance before investing. This document is not an offer, nor the solicitation of an offer, to invest, buy or sell any of the assets mentioned herein.
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