BakedBean.io — The 8% Daily ROI DeFi Project! What’s the Catch?
Bakedbean.io is a miner reward pool that is starting to attract serious attention. Why? Well, it claims it can get you an 8% return on your investment. Not annually. Not monthly. DAILY!
I know what you’re thinking, it sounds too good to be true. That’s what I thought, but it turns out that this is totally legit. Of course, it comes with risks, and in truth, it’s unlikely that you will always get an 8% return. One thing is for certain, you can make real money on even a small investment if you play it right.
How Does It Work?
Let’s keep it simple and not get too bogged down with complicated blockchain and mining explanations. Life’s too short and that side of things is tried, tested and true at this point. We all know that crypto is legit and there is big money to be made if you take the right risks at the right time.
With bakedbean.io you buy ‘beans’ with BNB (Binance coin). These beans act as miners through the smart contract. So they mine alt-coins which are converted to reward pay outs. You can choose to reinvest (re-bake) your pay out or ‘eat’ (withdraw) your reward. Eating beans has a negative effect on your future returns, which is a way of keeping the pool stable (more on that in a bit).
OK, that’s the basics! If you had tried to explain BitCoin to someone 13 years ago… well…At best, people would think you were joking, at worst they would think it was a scam. It’s the same with any emerging DeFi project. Bakedbean.io is part of a new wave of crypto investment methods, so it’s totally understandable to be a little unsure of how trustworthy it is. Luckily, there is a thriving community of developers and fellow investors to help you to build confidence.
Unlike similar projects, the bakedbean.io community is extremely engaged. There is a genuine sense that everyone is working together to keep the project stable. How? By ‘eating’ your beans at intervals that ensure a healthy TVL and maximise returns.
If you are in two minds about how to get started on the project, you can contact the community who will be totally able to put your mind at ease!
In the meantime, there is still plenty to learn about how to make the most from the project.
Bake, Rebake and Eat
This is the tactical part of this project and it’s essential that you understand it before taking the plunge! It’s well worth getting a clear idea of the rebake and eat concepts before you continue.
When you make your initial investment, you ‘bake’ your beans. The next day you’ll have have increased the value of your investment by around 6–8%. At this point, you can choose to ‘rebake’ which means you reinvest your reward and your initial investment. So, after another 24 hours, you’ll get another 6–8% increase. If you eat the beans, you withdraw your rewards. That means you’ll be back to your initial investment and the will be back to step one of your investment.
If you eat every day, or too often, the percentage of your initial investment you receive as reward will drop. So your beans become inefficient if you keep eating your reward.
Can I Get My Initial Investment Back?
In a word, no. This is a locked contract pool. When you add your BNB to it, that is added to the TVL, and provides stability to the project. You get your initial investment back in rewards over time. You’re initial investment can be as small as 0.01 BNB (£300 at time of writing).
How Much Can I Make?
So 8% is pretty much the maximum ROI. This can go as low as 1% depending on a variety of factors, the main one being how often you eat your beans.
Realistically, you’re likely to average around 6%. The table below what that could mean for you financially:
Not too shabby, I’m sure you’ll agree! Bear in mind though, there is a 3% charge on every deposit and withdrawal. The developers (and many others in the community) advocate a 6:1 strategy. This strikes a good balance between keeping a healthy return and maintaining the TVL.
Something to note, in the above example, I’ve used sterling. Working out your ROI in BNB is difficult, as (like a lot of coins) the value can be volatile. This is another key factor you should think about when investing. How well do you think BNB will do in the next few months? If you double your BNB coins, but BNB halves in value, then that’s not much good!
Luckily, at time of writing, BNB is proving to be one of the more stable coins and is considered a relatively safe bet.
What is TVL
TVL stands for Total Locked Value. It’s the overall value of crypto assets that have been deposited into the pool. In the case of bakedbean.io, the higher the TVL the more beans per BNB you’ll get and the better the ROI will be! That’s why the bakedbean community wants the to limit the amount of beans being eaten. Therefore, you are rewarded when you rebake and punished when you eat too much!
How to Get Going With bakedbeans.io
- First thing to say, this is a BNB project. So, you are going to need some BNB in your wallet to be able to buy in.
- Follow this link to the bakedbean.io site (this is a referral link so it helps me if you use it!
- Now, you need to connect. Click the ‘connect’ button on the top right of the page.
- Decide how much you want to invest, remember- never invest what you are not willing or able to lose!
- You can enter the amount of BNB that you want to invest. The calculator will show you the amount of beans your investment equals.
- Then, confirm the wallet transaction and your beans will be rewarded.
- Implement your rebake / eat strategy.
- Reap the rewards!
So, What’s the Catch?
This is an investment, and a risky one. That’s the catch, you could lose what you put in. Having said that, if you are reading this you probably already have some money in crypto or are seriously considering it. If you are looking for low risk, then invest in treasury bonds!
Having said that, there is high risk and there is HIGH risk.
The TVL has steadily grown since the project started in October 2021. It’s not too late for things to go wrong, but the signs are good that the investment pool will continue to grow. What you are really risking is that initial investment. Everything else is just degrees of success!
So let’s say you invest 1 BNB. Right now, this is roughly £300. So you need to calculate how long it will take you to start seeing a ROI. Let’s assume that you get an 8% daily return, It will take roughly 10 days for you to get your initial investment back. If you continue to rebake for another 6 days, you will have doubled your money!
So it is high risk, but it’s not HIGH risk. It’s not shooting in the dark and people are definitely earning already.
Bottom line, go into this with your eyes wide open. Don’t put in what you cannot comfortably lose. But, as high risk investments go, this is a very exciting one. Ready to get going? Here’s the referral link again https://bakedbeans.io?ref=0x7e298C9A6F4ca478f7E816F59a8412BbEc0b1BA6