Earn Interest on PancakeSwap - CAKE Savings Account
YouHodler’s list of options to choose from for crypto savings accounts continues to grow. These low risk, high yield savings accounts help users earn interest on crypto up to 3.04% per year with compounding interest. PancakeSwap (CAKE) is a popular choice in the market. Here’s some information additional facts on PancakeSwap (CAKE) and also learn how to easily accumulate crypto interest on YouHodler.
What is PancakeSwap (CAKE)?
PancakeSwap is a decentralized exchange (DEX) built on the BinanceSmart Chain. Similar to the Uniswap DEX built on Ethereum, PancakeSwap allows users to trade, or “swap” between various cryptocurrency assets. Unlike traditional centralized exchanges, liquidity on DEXs is provided by user-created liquidity pools.
This works when users stake a cryptocurrency pair, essentially locking it in the platform so other users can use the liquidity for swapping. In exchange, the liquidity provider gets a reward. These rewards have become a popular way for many DeFi enthusiasts to earn passive income and a unique alternative to traditional HODLing of crypto assets. CAKE is the name of the PancakeSwap native token and it can be bought on YouHodler, Binance, and other top exchanges.
How to earn 3.04% interest on CAKE
Step 1: Sign-in or sign up to YouHodler (iOS, Android, and Web version available)
Step 2: Deposit CAKE to your personal PancakeSwap wallet
Step 3. Watch as your CAKE earns a compounding interest of 3.04% APY.
Step 4: Get paid! Weekly payments come every 7 days
Watch your crypto earn on YouHodler
As our name suggests, YouHodler helps you HODL more effectively. To do this, we must prioritize efficiency and user experience above all else. Well, we did just that. Unlike other, complex DEX or DeFi protocols, it’s easy to deposit coins on YouHodler and watch your crypto earn. For example, just follow the steps above for CAKE and you’ll be earning 3.04% APY in no time at all. There are no hidden terms and conditions, no “catch.” Plain and simple, we’re just trying to get you to activate your crypto for your benefit. So give it a try!
PancakeSwap saving wallet app that pays interest
YouHodler wallet app is the only application where you can store your PancakeSwap (CAKE) just like you would in a regular wallet but in addition, earn interest on that CAKE wallet balance every week.
How does CAKE interest work
You can earn interest on CAKE just like you would with a traditional bank savings account but with one key difference. Instead of near to zero interest rates at banks, we offer you 3.04% interest on CAKE.
How to Earn Free CAKE
It’s easy! Just deposit CAKE to your YouHodler wallet and you’ll earn free CAKE every week.
How to Get Free CAKE
Interest payments occur every seven days. So you’ll get your free CAKE a week after your first deposit.
Cumulative Interest CAKE
Yes, you have cumulative interest if you HODL CAKE in the wallet. We calculate compound interest rates every week.
CAKE APY & Yield
Compared to other platforms, we offer APY instead of APR. APR gives you interest payments without the compounding effect. Hence, with APY at YouHodler, you get more CAKE at the end of the year due to this cumulative interest.
CAKE Savings Calculator
Just use our CAKE Savings Calculator to see what you will have in 3, 6, or 12 months of HODLing on YouHodler.