Hello guys, I'm on a low budget right now and looking for Tokens/Crypto that would be really good to invest on. Recently, I was looking for DeFi tokens and kept my eye on Fantom and SushiSwap. But right now, I think I can afford and buy more Fantom once the price got lower.
Do you still have other suggestions or ideas that you think might work on investing DeFi tokens? What are the good DeFi tokens that you think that would be profitable in the next few years?
I invest in few defi-projects but I think that they are really reliable and I can lock my money there for a long term. One project is Puncakeswap on Binance smart chain. I do yield farming in cake-bnb pair and get about 50% apys, what is more, I get additional money when both of these assets grow. Also I work on Polygon as it is cheap and I invest there in Quick swap and Sushi swap.
The current APY is at 41% and I agree with you that Pancakeswap is the most trusted farming DeFi apps in BSC since PCS is the one who start everything about DeFi in there. But I doubt that you will get any profit in terms both your assets will pump since impermanent loss doesn't work that way. It's either you will breakeven or loss a certain amount of value to your original assets whenever there's a price changes on both pairs since they are not changing price in same rate and time.