Cake

Cake

How to register?

Cake is a CeFi platform registered in Singapore that offers so-called Lapis rounds. Investors have to deposit their cryptocurrencies for four weeks to earn interest. Cake does not offer loans.

Savings Accounts
3
Loans
Transparency
Jurisdictions
200+
Languages
EN, GER +2
CeFi/DeFi
CeFi

Pros

  • Base rate is relatively high compared to the industry standard Base Rate (Savings Accounts)
  • Savers get an additional return if the invested currency exceeds a certain threshold Maximum Interest
  • Supportive customer service Customer Service
  • Multiple language options Languages
All pros

Cons

  • Only BTC, ETH, and USDT savings accounts available Currencies
  • Users can only participate in "Lapis"-Rounds, meaning they have to wait until a new round starts before they can invest Savings Accounts
  • Deposits are locked up for the 4-weeks duration of the Lapis Round Savings Accounts
  • Interest is only paid at the end of the 4-weeks Lapis round Withdrawal Speed
  • Cake does not offer crypto loans Crypto-loans
  • Withdrawals can take up to 72 hours Withdrawal Speed
  • Cake does not provide a mobile app Mobile App
  • The interest earned is not displayed denominated in fiat currency but only in the respective coin Reporting
  • To earn the maximum interest, savers have to become a member of the Cake Confectionary and deposit a high amount of DFI tokens. Maximum Interest
All cons

The interest rates at Cake

BTC
BTC
ETH
ETH
USDT
USDT
Basic
Max
5%
7.5%
5%
7.5%
8%
8%
Basic
Max
3.4%
8%
3.2%
8%
9.1%
13.3%

A new concept

Cake DeFi works in a different way compared to other platforms. Investors can only invest in so-called Lapis rounds and have to depost their cryptocurrencies for four weeks per each round. The platform was founded by blockchain entrepreneur Julian Hosp and is still in its early stages. Although the platform is officially named "Cake DeFi" it is a CeFi platform according to CryptoStudio's definition.

Cake

A community-driven company with a vision

Cake in the CryptoStudio-Check

  • Overview
  • Savings Accounts
  • Security
  • User Experience
  • Business Review
Overview
Platform Score
based on 5 categories
Search icon Savings Accounts
based on 9 criteria
Search icon Crypto-Loans
based on 10 criteria
Search icon Security
based on 8 criteria
Search icon User Experience
based on 13 criteria
Search icon Business Review
based on 5 criteria

Pros

Base rate is relatively high compared to the industry standard

Base Rate (Savings Accounts)

Savers get an additional return if the invested currency exceeds a certain threshold

Maximum Interest

Supportive customer service

Customer Service

Multiple language options

Languages

Cons

Only BTC, ETH, and USDT savings accounts available

Currencies

Users can only participate in "Lapis"-Rounds, meaning they have to wait until a new round starts before they can invest

Savings Accounts

Deposits are locked up for the 4-weeks duration of the Lapis Round

Savings Accounts

Interest is only paid at the end of the 4-weeks Lapis round

Withdrawal Speed

Cake does not offer crypto loans

Crypto-loans

Withdrawals can take up to 72 hours

Withdrawal Speed

Cake does not provide a mobile app

Mobile App

The interest earned is not displayed denominated in fiat currency but only in the respective coin

Reporting

To earn the maximum interest, savers have to become a member of the Cake Confectionary and deposit a high amount of DFI tokens.

Maximum Interest
Savings Accounts
Rating:
Search icon Currencies:
3: BTC, ETH, USDT
Search icon Fiat Savings Accounts:
No
Search icon Base Rate:
5% for BTC, 5% for ETH, 8% for USDT
Search icon Maximum Interest:
On top of the base rate, which is paid in the account's cryptocurrency ("in-kind"), there is an additional return paid in DFI Tokens. To receive this additional return, savers have to become a member of the Cake Confectionery by providing a certain amount of DFI tokens for staking. For BTC, the maximum rate consisting of in-kind and DFI payments is [Variable Maximalzins BTC]%, for ETH [Variable Maximalzins ETH]%, and for USDT [Variable Maximalzins BTC]%. Additionally, investors can receive a bonus of 2.5% if the base currency hits a certain price. This bonus payment is not included in the maximum rates displayed here.
Search icon Lock-up Periods:
4 weeks
Search icon Minimum Deposit:
No minimum deposit
Search icon Compound interest:
There is no compound interest throughout the lock-up period. Interest is paid after the lock-up period ends
Search icon Withdrawal Limits:
Small amounts will be paid out within 24h. For amounts exceeding $10,000 payout may take up to 72h
Search icon Currency of Interest Payments:
The base rate is paid "in-kind" (same currency as deposit currency) while the premium interest is paid in DFI token
Security
Rating:
Search icon Withdrawal Speed:
Small amounts will be paid out within 24h. For amounts exceeding $10,000 payout may take up to 72h
Search icon Regulations:
Cake is registered in Singapore and regulated by the Payment Services Act
Search icon Team Transparency:
Founder and CEO Julian Hosp is well-known within the crypto industry. The website mentions the team, investors, and advisors
Search icon Crypto-Custody:
Funds are not held with an external custodian, but with Cake
Search icon Security Settings:
Cake offers industry-standard security settings such as 2-factor-authentication and ID Check. Address whitelisting is not yet available
Search icon Terms & Conditions:
Cake has the right to use the deposits of savers for investment purposes. That includes lending the assets to third parties
Search icon Data Transparency:
Cake does not publish exact platform-specific KPIs
Search icon Security Hacks:
There are no reports about any successful security hacks
User Experience
Rating:
Search icon Account Opening:
Fast and straightforward, takes less than 5 minutes
Search icon Business Accounts:
No
Search icon Mobile App:
No mobile app available
Search icon Desktop App:
Yes
Search icon Wallet Admin:
Yes
Search icon Reporting:
The reporting does not show the total interest earned but only the interest earned in single transactions. At the end of each term (Lapis) the user will get comprehensive email reporting. It is also possible to download a CSV file showing the wallet history
Search icon Coin-Reporting:
Cake provides a reporting in the respective cryptocurrency and in US dollar
Search icon Look & Feel:
Easy to use but outdated design. The wording is sometimes not clear
Search icon Customer Service:
Comprehensive FAQ, it takes a few days until customer service answers questions but the answers provided are generally useful
Search icon Interest Rate Transparency:
Cake advertises high interest rates but does not always mention that part of the payouts are dependent on the price increases of the invested asset.
Search icon Countries:
200+
Search icon Fees:
Cake charges withdrawal fees
Search icon Languages:
EN, GER +2
Business Review
Rating:
Search icon Financing:
According to Crunchbase, Cake is financed with Seed Capital of 2.4 million US dollar by 4 private investors. According to company representatives, the business is already profitable
Search icon CEO Track Record:
Founder and CEO Julian Hosp is well-known within the crypto industry. His professional successes and failures have caused controversy in the past
Search icon Assets under Management:
Cake seems to grow fast but does not publish exact information on the platform's AuM
Search icon User Base:
Cake seems to grow fast but does not publish exact information on the platform's user growth
Search icon Community Interaction:
Participates heavily in public discussion online and provides transparent answers to CryptoStudio's inquiries
Cake

User-friendly mobile App and efficient customer support

Cake Look & Feel

The app is currently only available as desktop version and in four languages. It is user-friendly but doesn't offer a feature-rich wallet administration. Customer service sometimes takes a few days to answer questions but provides legit answers.

Registering with Cake is easy and straightforward and takes only a few minutes.

Step 1

Visit Cake's website and select English in the upper right corner. Create an account and use our referral code 299824 to support our work and to benefit from Cake's promotions.

Step 2

Cake will send you an email with a confirmation link which you have to click.

Step 3

Verify yourself with a personal identification document and you can start using the platform.

to the Website *

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