Good experience so far!
My personal experience with Cake Defi has been very good so far. Depositing crypto is fast and free of charge (except for ETH - there are one-off costs for the first transfer - after that it is also free of charge). Buying BTC with FIAT (via bank transfer or VISA) is also easy. However, you have to go through another KYC process with the service provider the first time you buy via bank transfer. In addition, the coins cost 5% more than the current market price. Therefore, this only makes sense for smaller amounts. Larger amounts should be bought on an exchange and then sent to CakeDefi. Of course, the payouts take different amounts of time, depending on the network you choose. At peak times or on turbulent market days, the BTC and ETH networks are often heavily loaded. It can sometimes take a little longer. But the most important thing is that the coins arrive! Cake's service is not an exchange where you can quickly trade back and forth, but where you can stake the coins or invest them for liquidity mining in order to keep high "interest" on the coins. At the time of this review, the APY for staking is about 50%, while for liquidity mining the APRs range from 18.5% (DOGE) over 53.5% (ETH) to about 60% (BTC, LTC, USDT etc.), depending on the coin. You invest in coins that you basically want to hold and don't want to/must sell today or tomorrow within minutes or hours. If you believe that your coin will increase in value in the long term, you can earn an additional return on top of the pure price gain. Staking pays out twice a day for DFI and once a day for DASH. The rewards for mining are paid once a day. If you register and invest at least $50 worth of coins, you get $20 worth of DFI coins "for free". Those who are recruited receive (as does the recruiter, Code 693556) an additional $10 in DFI. The coins given as a gift are stored in the staking for 180 days and are then freely available. There is also a good app for iOS and Android. In the app, the most important functions of the website (overview of assets, transactions, staking, liquidity mining, lending) are available. A criticism often read here refers to the fact that on the platform itself you can only switch your coins in the direction of DFI and not back. However, this is probably due to regulatory reasons, as otherwise the platform would act as an exchange and would have to register as such. However, you can either send your DFi to the DEFI chain wallet and exchange them on a decentralised exchange, e.g. Bitcon, or you can simply send the coins to a central exchange such as KuCoin or Bittrex. A new anouncement by cakedefi says, that an integration of a DEX (decentral exchange) to the plattform is planned for the near future. Then it will be even easier to exchange the DFI back into BTC, ETH etc. as well. At the moment there is an additional bonus of 11% on the first deposit for new users (until 25.11.2021).