Cake DeFi Reviews

Super excited for CakeDeFi launch. I have been using the service for several months now and I am super happy with it. I definitely recommend the service for those that want to be in the crypto space and that want to take advantage of DeFi services, in addition to just benefiting from crypto price movements. This is a fantastic alternative to things such as savings accounts and it empowers you as an individual to sustain markets with products such as liquidity mining. CakeDeFi, is just like the cherry on the cake. Cake would not be possible without DefiChain, so a huge shout out to DefiChain as well.

First of all, the whole point of this is so that the government can’t shut it down and is as uninvolved as possible. Requiring a hand written note, is excessive. Coin base requires KY see. So do other crypto companies. None of them require a hand written note. None of them require a bill or something with proof of address, a photo ID is usually enough. Cake should’ve thought KY see a long time ago, especially since the SEC is overreaching in their authority on crypto. At this point, I will not be a customer. Their requirements are ridiculous, making the money potentially earned not worth the price of admission and the fact that the government becomes so involved and cake is unwilling to fight this.

I’m quite excited, I’ve been waiting on CakeDeFi. It works but has a minor issue. CakeDeFi is in Alpha phase so I’m not too upset since it’s only a display issue but my liquidity doesn’t show up. I have the option to add liquidity and can see all my other assets except for liquidity. It’s still there, I can see it by logging into the website.

Overall great app. Looking forward to moving into the beta stages and beyond.

Sad to say but there is a lot of issue with CakeDeFi. Verification process alone is not working so impossible to use.

Update ; was able to take the next step for the verification and was finally approved. But honestly CakeDeFi needs major upgrade sadly. It just loads and loads and it's impossible just to put in the 2FA. Nothing works. Sadly there are many things that I can only do on CakeDeFi and not on desktop so it's a bit useless.

Seems to work some times, but most of the time after login you get a white screen. Hope to see this problem fixed soon.

If CakeDeFi worked, I would give this 5 stars.

The website works fine. You can see your deposits and put them in products like liquidity pools and staking. It does what it says; you earn coin and DeFi rewards every 12 hours.

But CakeDeFi … when it worked, before the update this week, it was only useful for checking balances. The same settings in the site would not work in a CakeDeFi (grayed out buttons).

After the update, all I get is a white screen. Installing doesn’t help.

If it weren’t for the website to see my balances and stake, I’d think the company stopped dev.

How did this past testing?

Fix CakeDeFi , get “rewarded” with 5 stars.

The latest update seems to have completely broken CakeDeFi . Blank white screens everywhere and even when you do finally get to see your account most of your funds aren’t showing. This is concerning and making me look for new options for my money.

Finally got the charts to show. and fixed the permanence of the hide zero balances toggle.

But now that bitcoin cash (BCH) network has begun to use a differentiated transfer address code it is a problem that cake only provides the address code by logging into the website. Neither ios nor android app provide the cash version of the address. Legacy version is no longer supported by many exchanges due to the chance of it being the format of a bitcoin BTC address which could interfere with transfers and possibly lose depositors’ funds. The cash code needs be provided through CakeDeFi or that’s just one more reason not to use CakeDeFi .

Already every time you step away from CakeDeFi it forces a pin to be entered to access CakeDeFi again. This gets annoying when trying to transfer or convert coins since you must also have the 2fa code to paste and is there really a very big need to require a pin 5 seconds after leaving CakeDeFi even if you just swipe down to check notifications or any deviation whatsoever from absolute focus on the cake app? No significant transfers can occur without 2fa so why require a pin every single time?! At least let us set a timeout period before having to re enter that annoying pin.

Also it is sad how transfers and swaps do not occur over weekends or holidays. I’ve swapped and transferred hundreds or thousands of times between cake and dex and during the week it is successful within an hour (pitiful compared to the dex app which completes transactions within a minute or 2 tops but at least it’s same day). But any weekend I have tried on cake it will pend the entire time until somewhere around monday morning.

There was in the past an automatic fill of the whitelisted addresses but now if I choose to whitelist an address and nickname it there is no entry provided the next time so why even bother having nicknames for whitelisted addresses anymore?

I would check my account to see monetary value of rewards earned on a daily basis. That number is now gone from CakeDeFi . Does this mean rewards are now so low they are being hidden? Is this a major oversight by the dev team? What is the reason behind removing such an important stat?

The products they offer are amazing.. CakeDeFi is smooth.. the community is incredible.. This community will be a major player in the future..

Works well excited to see new features implemented. Can’t expect too much from the beta version

I put in all my info and then it wouldn’t verify my phone number. After collecting all of my personal info it doesn’t work. They are only collecting data. Do not trust. My phone number is over 20 years old and has always worked.

Tried to sign up online. It keeps pushing me to CakeDeFi . When signing up on CakeDeFi I get the whole “I’m not a robot/reCAPTCHA” thing. I click the checkbox and it says invalid choice. That’s it. No way around. I simply can’t sign up. I guess I’ll put my money somewhere else.

Stuck on verification using a bill and it’s less than 10 mbIt says I need a document that’s smaller and it is there’s no customer support is there like an email or what from the developer

If you click over assets CakeDeFi crashes and close itself. Hope they fix the bug but until then I kept a single star

The liquidity mining opportunities on here are like printing money. Who else offers 50+% APR on a STABLE COIN?!?. Unheard of, unprecedented, amazing.

Can’t see assets, crashes on touching icon. Please fix!!

App constantly goes to blank screen please update!

Invalid Capcha every time need help

The KYC process is WAAAAY TO EXCESSIVE!! I want to invest in defi without giving away my first born child 😂 I’ll move on to the next….I would recommend cake defi

You can get $20 with initial $50+ deposit. $10 using referral code 658209 +$5 go to the “Learn” tab and pass the 5 minute tutorial on DFI. The bonuses are all paid out in DFI and locked (“frozen”) for 6 months. You earn unlocked rewards and can increase the rewards by increasing the freeze time, up to 10 years for 130%+ APY/ year! I’m excited about this project and these returns, I’ll update with any news or issues! I recommend the web version for signing up, use mobile for checking in. Special for November 2021: get an additional 11% deposit bonus until 5AM UTC 11/25/21 Update: don’t confuse APY with APR: APR will be about 1/2 of posted APY, I am seeing about 77% return on my daily rewards. Still phenomenal. You will have to do KYC, I know this is a dealbreaker for some people but I found it to be painless.

4 submission of my info and rejected. Run away from the DEFI scam.

KYC is against what DeFi stands for. I will not use CakeDeFi because of this.