What are some of the best ways to earn passive income right now? I was thinking about staking $CAKE, just staking it and not using liquidity farms. But not sure how profitable that would be, compared to some other methods. I have a 5000$ capital.
Staking Cake is good but does not pour your capital on one coin alone, there are a lot of ways to earn passive income and there is stable Farm sites worthy to look at be careful on new farm sites so many of these are doing rug pull, investing in the top coin, and hodling it, is also highly recommended, this is the best time to buy new upcoming projects with good potential like DPET and Binamon, they are gaming sites very much similar to Axie.
But I wonder is farming really worth it? Or providing liquidity? Isn't it quite dangerous to ultimately lose money because the staked coins or the coins you use for farming get dumped and decrease in value anyway?