3 most-often-asked-about-risks with Cake’s Lapis service explained
At the beginning of 2020 we have introduced Bitcoin Lapis at CAKE. So far we have carried out several successful public batches and even during times of crisis or extreme hype we have cracked the returns of over 6%! Yet, you might be wondering, just how safe is the whole thing?
If you prefer to watch the explanations in a 10-minute video, then have a look here:
Let’s go over each risk and its probability.
1. How likely is it, that you LOSE ALL your Bitcoins/Ether?
Considering that this would entail a major exchange hack, it can be considered possible, but very unlikely. Also, our partners are not allowed to exchange the BTC/ETH into any other coin, so, there is no price-risk.
2. How likely is it, that you get ALL your Bitcoins/Ether BACK?
Very likely. The reason for this is, that based on the entirety of Bitcoin or Ether, our partners do not take aggressive positions, but rather cover the downsides. This might affect possible returns, but will lower risks significantly. The odds of you getting ALL your BTC/ETH back are very high — even without the Secure Cookie Stash, that acts like an insurance fund. Actually, looking at the entire history of BTC/ETH, and even in 2020, when Crypto dropped by 50% in March or when it rallied over 100% afterwards, the deposits were never in danger.
3. How likely is it, that I GET my RETURN?
Very likely. The reason for this is, that even though returns may slightly fluctuate over time, Cake has started the Secure Cookie Stash, that will be funded by part of the fees and will be used to balance out returns over time. So far, we have had a 100% hit rate and we intend to keep it this way.
Wanna get started? It’s just 5 simple steps!
1. Account
Either register your new account (if you don’t have one already) on https://cakedefi.com or sign in with your existing account.
2. KYC
Be sure you have completed your Full KYC check: https://pool.cakedefi.com/#/me (Please also activate your 2-Factor-Authentication 2FA in there!)
3. Funding
Deposit BTC or ETH onto your Cake address: https://pool.cakedefi.com/#/wallets
4. Lapis
Then use the Lapis Service and get cashflow from your BTC or ETH. There are NO minimums for you to use this: https://pool.cakedefi.com/#/lapis
5. Settings
Make sure you compound your returns for maximum gains: https://pool.cakedefi.com/#/me
Furthermore, you can have all your questions answered in the FAQs: https://cake.zendesk.com/hc/en-us/sections/360008118551-Lapis-Service-by-Pool-by-Cake
Additionally, in our Telegram groups, the founders and team members help you out: https://t.me/CakeDeFi_EN
From the entire team we want to thank you for your loyalty as a customer, and we are excited keep pushing the boundaries in the crypto ecosystem!
We will keep focusing on our mission to bringing you cashflow from any type of blockchain asset in the most transparent and most attractive way possible in order to build a one-stop platform for you to manage all your finances in an automated AI-supported manner — be it crypto, real estate, stocks, gold, and much, much more.
Yours truly
Cake Team
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