 So by now, I'm sure that you know that banks are greedy little pigs It is probably what brought you into crypto in the first place if you're anything like me then you're tired of these High-yield savings accounts that are returning 0.5% on average per year really Bank of America really Wells Fargo I can't even get one full percent 0.5% so naturally we look towards crypto for some passive income at high APYs We're already a community that hodls so minus well get paid to do so So a few sites started popping up like BlockFi that were offering you interests for you to store your crypto with them So it was actually pretty good when they first started they were giving a lot higher APYs now Not so much. I've basically taken all of my money out of BlockFi You can see that their returns right now are four and a half percent one percent and zero point one percent That's even worse than the banks on stable coins. It's a little bit better. It's offering you five percent up to eight percent But again, ah these single digits. They just they just don't do it for me anymore Now there are other companies similar to BlockFi that have interest accounts that are offering way better returns like Celsius For example in the range of six to eight percent return, but that still left me yearning for more That's why I've spent the last few weeks scouring the depths of the internet so that you guys don't have to do it And so that I can test these methods out and bring you the passive income methods that work for me This will be a new segment that I will be updating weekly You guys can join in on the fun or just watch and see how it goes for me None of this is financial advice So with that out of the way the first project that we're looking into currently throwing out a whopping 75% APY is pancake swap pancake swap is a decentralized exchange Built on the Binance Smart Chain, which is good because it is fast and Inexpensive unlike the theorem blockchain pancake swap is the Binance Smart Chain's version of Uniswap The Uniswap protocol of course runs on the theorem chain So just like Uniswap pancake swap enables users to swap between Cryptocurrencies by using user-generated liquidity pools. So this is how they make money and this is how we will make money as well So to create these liquidity pools pancake swap offers D5 farming opportunities for liquidity providers You can see here that pancake swaps liquidity is currently at 5.77 billion dollars if you compare it to their Uniswap competitors You will see that pancake swap has outgrown Uniswap Uniswap only at 4.35 billion I'm sure this has a lot to do with the theorem's gas prices Now one thing that pancake swap does a lot better than Uniswap is that they reward people for staking cake So your next question is probably like, okay, so how exactly do I earn passive income holding cake? So you have different options when it comes to that the first option is farming If you go here to earn you can click on farms and it takes you to this page here Here you can see all the different coins and what their APR is So you will definitely see some random projects with very very high APYs here If you guys are interested in holding those those coins or if you guys already hold those coins Then you could just move your coins here and make some really good returns over time Now for the sake of this video, we are only doing cake So we take a look at cake here. You will see that it only says 42.85 percent. That's not that much right? Well, I mean depends what you compare it to so what I'm actually doing if you go up here to earn And you go to pools you'll see that this comes up here syrup pulls and now you see auto cake here for 75% APY you'll notice that there's two different ones now the manual cake what that means is that you have to Manually compound your cake, but auto cake does it for you Constantly and automatically the only thing is that they do charge you a small fee I believe it's around two percent for auto staking for you now for me. That's not a big deal I'm not going to be manually compounding my stuff every single day. So two percent is fine with me So to see what you're staking you have to flip your metamask over to the Binance smart chain network So once I did that now you can see exactly what I have staked and what my profit has been here You can see here that a two percent fee is subtracted automatically from each harvest and it is burned So let's take a look at the numbers so far So bear in mind that I've only had it here on auto cake for about a week at this point and within that week I've done around seventy one dollars and ninety one cents in cake I've done five point eight almost six cake total in profit at this point and my total cake that's staked is currently 432 cake or fifty three hundred dollars. So if we do some math here We pull up the calculator. You will see that in one year We will more or less make around four thousand dollars of four thousand dollar return or 75 percent return on our cake now Of course, this is assuming that their current rates stay where they are But one thing that you need to know about this that this is forever changing these rates constantly move up and down and More down than anything because as more cake gets created and put out into the market Then the percentage drops more and more so as time goes on you can expect this percentage to drop further down When this first started this was over a hundred percent Apy and you can see now it's down to seventy five So that's definitely something to consider another con to consider here is that remember your money? Your USD is going to be tied to the value of cake So the issue with that is that as you guys can see here as the value Fluctuates so does your investment so you can see here that cake has had a big run-up all the way to forty two dollars over forty dollars But then it had a seventy eight percent drop then again It had another nice run-up here to a high of twenty five dollars with another 61% drop so if you're looking to start investing in cake You have to be aware of where the current price is and where the price could go if we pull up this current resistance here You can see a pattern has been forming where we've been rejected at every spot here So although this is a good area to buy in as it's held as support here on multiple occasions here at that ten dollar range We could very well be topping out around here and that's pretty much around that sixteen dollar Maybe even seventeen eighteen dollar range because remember as more cake gets put out into the market Prices will probably drop because remember as more cake gets put out into the market prices will probably it could continue to drop So right now we might not be able to hit the all-time high that we hit before we could probably still hit that 1819 maybe even 20 and double from this range But I don't know if we will get back up to that forty dollar range unless even more money comes into the market now Of course the pros with this project is that yeah You're gonna make for now around 75% APY as you guys can see in just a week. I've done around 72 dollars in profit I'm expecting it to do anywhere around $300 for the month and as you guys saw with the APY I would be expecting to do maybe around three to four thousand dollars in a year if you guys want I will do a tutorial on how to stake your cake in the future if you guys need one I'll do a tutorial on how to stake your cake, but I'll do a very quick rundown first You need to add Binance Smart Chain to your MetaMask wallet once that's done buy some BNB and transfer it over to your MetaMask wallet Once that's complete go to trade and exchange and exchange your BNB for cake after that go back to pools open up the details here for AutoCake and Enable cake and enable the pool here for AutoCake You will need to confirm on your MetaMask wallet then hit stake and confirm again, and that's pretty much it guys It's that simple. Thank you guys so much for watching this video If you enjoyed it make sure to smash that like button if you guys are new to the channel Don't forget to subscribe turn on notifications And if you have any questions about anything that we covered drop it in the comments I'll see you guys on the next one as always peace and love