What are the fees to stake 3 pancakes?
1 BTC = $8.2k, it’s up 735% this yr UPDATE 5/19: BTC @ $42k :damn:
- Thread starter JordanWearinThe45
- Start date
What are the fees to stake 3 pancakes?
SoSoSlick
Still gettin it!
Im using Venus on BSC which is an equivalent. Essentially what you wanna do is leverage your long existing crypto (say ETH) by lending it in order to borrow a stablecoin and use it to increase your positon (or jump into something else). Typically you can borrow up to 80% of your leveraged position. For lending there's also an APY gained on your leverage and an APY applied to your borrowed asset which you will need to repay.
For example. I have 1000 in ETH. I lend it to THE platform gaining me access to borrow 800 in USDT and netting me 3% APY on my ETH. I then take that USDT and buy more ETH hoping it goes up which I keep the difference of before paying back my loan. There's also the opposite short position aspect of this which I don't get into.
The major risk is if your leveraged asset tanks you can be liquidated and lose your shirt so you have to watch the market.
Bear minimum, that is the appeal of smart chain in comparison to ETH fees.
3 CAKE
You're gonna need way more to see decent returns.
To farm you need an equal amount of the two coins. I just bought $1000 worth of FOR and matched that with $1000 BUSD. You add liquidity and it gives you Liquidity Pool (LP) tokens. Take that to the farm, approve the pair, and supply liquidity. Now just let it bubble.
Probably payed less than $1.50 in fees. If gas is $50 on Ethereum that's probably $300 I'd be paying.
If you want to farm at a low entry point use a BUSD pair but it's best to come with at least $1000 so you can go 500/500 on two coins. You already have $500 in BNB so you could just put $500 on a coin that's paired with BNB. Just be aware of impermanent loss.
32 a day? About 380 CAKE should get you over 3 a day so you'd need 3800 CAKE. If you got $40,000 sitting around to buy that much CAKE go for it
I'm pissed I didn't look into CAKE when it was under a dollar. That passive income would be ridiculous.
Fees are irrelevant on BSC. You're paying .18-40. I don't even look most of the time I just hit approve. Again staking such a small amount of CAKE is pointless. You might as well but 3 lottery tickets and hope you win something.
You'd want at least 100 and CAKE is too expensive for that.
Thank you for this bruh, makes sense.3 CAKE
You're gonna need way more to see decent returns.
To farm you need an equal amount of the two coins. I just bought $1000 worth of FOR and matched that with $1000 BUSD. You add liquidity and it gives you Liquidity Pool (LP) tokens. Take that to the farm, approve the pair, and supply liquidity. Now just let it bubble.
Probably payed less than $1.50 in fees. If gas is $50 on Ethereum that's probably $300 I'd be paying.
If you want to farm at a low entry point use a BUSD pair but it's best to come with at least $1000 so you can go 500/500 on two coins. You already have $500 in BNB so you could just put $500 on a coin that's paired with BNB. Just be aware of impermanent loss.
32 a day? About 380 CAKE should get you over 3 a day so you'd need 3800 CAKE. If you got $40,000 sitting around to buy that much CAKE go for it
I'm pissed I didn't look into CAKE when it was under a dollar. That passive income would be ridiculous.
Fees are irrelevant on BSC. You're paying .18-40. I don't even look most of the time I just hit approve. Again staking such a small amount of CAKE is pointless. You might as well but 3 lottery tickets and hope you win something.
You'd want at least 100 and CAKE is too expensive for that.
Just to add on, the best thing to do is stake and farm at the same time. I stake CAKE and at the end of the day compound to add what I earned to what I'm already staking. Then I harvest the CAKE I earned from farming and add that to the amount I'm staking. It speeds up the process of the rewards.
This is the CAKE I can potentially earn farming FOR/BUSD:
Glad this was brought up because I got a bunch of BNB and BUSD sitting. I like to grab a coin that has potential when I'm done farming it and I saw FOR is on Binance so I went with it. I should probably jump into a BNB pool and I can triple the CAKE I'll earn daily.
Also can you stake part of a coin like BNB and ETH? Or do you have to stake a full coin?
You can but Trust Wallet is the way to go especially for BSC. Hopefully you're an Android user since Apple blocks the decentralized apps that are integrated into Trust Wallet.
You can stake what you want.
KingTut
Green diamonds like a dill pickle
It's not too late to get into OMI. Was getting rejected at .003 for the past couple of weeks but it broke through that Only on two irrelevant exchanges, every NFT release is selling out and damn near crashing the VEVE app. NFLPA and DC partnerships. I'm not taking profits until .01.
Wait for a dip if you want to but I said before this is a long term hold for me. If you get in now and it dips just DCA.
Ve chain rarely ever gets talked about in crypto circles, why are you assured of it?
I have some sitting around but was having second thoughts on it and was going to exchange for Hbar.
I honestly really like it for that reason, cause with alot of crypto too much publicity leads to uneccessary volatility and manipulation. Their goal in improving supply chain data structures if very focused and is a necessity for big buisness whicheams investment in it could be very good for everybody regardless if they're involved or not. So I believe in it, I think having like a 100-500$ stack in it is a good hold and forget about it profit later bag especially in this bull run