As the saying always goes, Trading Is risk, as long as you can bear the risk, deal with your emotions, you are surely good to go but always take cautions. Cake token is one token I have been eyeing since I know about pancakeswap which give cake holders lot of benefit if they stake up their cake token. I once wrote a post about how you can buy some cake tokens and stake it to receive reward for staking and also get some syrup which you can use to mine other tokens in the syrup pools.
Currently most alt market are down and cake is one of them which is currently at the support level on the trading chart especially on the 4hr timeframe which seems to be a good time to buy and also the Rsi is around 28.44 which is indicating over sold. Which means market can shoot up anytime soon. Had to login to my binance account to grab some cakes before the opportunity pass me by.
went to binance immediately and got around 530 cake to hold for the main time (mostly for long) and see how market will go, it is our prayer token we hold should go our way and give use profit in returns.
instead of keeping the token on binance, i decided to transfer it to my trustwallet account and stake it instead why waiting for market to move in my direction. staking cake token really have lot of benefit because you will also be receiving some cake which will be a plus to the one you staked.
this is just this part of the reward which is for staking the cake token. i added it to the one i have before and that is the reward within 2 hours which is really a good move. Still relaxing to know how many cakes it can generate in a day.