Generating income without actively participating in daily trading is an attractive prospect. The good news for all crypto enthusiasts is that passive income can be earned in a few different ways with crypto.
We will explore the two most successful methods and the coins, too, through a referral scheme with Caged Beasts (BEASTS) and staking with Cardano (ADA) and Cosmos (ATOM). Be prepared to learn more about passive income in general and then go deep with each coin.
What’s Passive Income? Exploring Staking & Referral Schemes
Passive income in cryptocurrency refers to generating ongoing earnings without actively participating in day-to-day trading activities. It enables investors to profit from their crypto holdings by utilizing different methods provided by blockchain networks.
One standard method is through staking, where individuals hold and lock their cryptocurrency in a compatible wallet to support the network’s operations and security. In exchange, they receive more cryptos as an incentive. Staking helps maintain the network’s decentralized nature while providing holders with a passive income stream.
Another approach is through referral schemes, where users can earn income by referring new members to a cryptocurrency platform. When the referred users transact on the forum, the referrer receives a percentage of those transactions as passive income. This incentivizes users to promote the platform, contributing to its growth while benefiting from the generated revenue. Both staking and referral schemes offer individuals opportunities to earn passive income in cryptocurrency.
BEASTS: Empowering Community Growth With An Innovative Referral Scheme
Rabbit 4001, the creator of Caged Beasts, devised this project intending to reclaim control from humans. Rabbit 4001 introduces a new caged beast throughout each presale stage, actively involving the growing community in the project’s development. This unique approach sets Caged Beasts apart from other presales, showcasing its innovation and community-centric focus. As funds are raised during the presale, the caged beasts grow and transform, evolving from infancy to formidable creatures. Although specific growth details are yet to be disclosed, the concept presents an enticing opportunity for early investors.
Sponsored
Within the Caged Beasts ecosystem, users can generate their referral code. When someone purchases using this code, the user who owns the referral code instantly receives 20% of the deposited amount (in ETH, BNB, or USDT) directly to their wallet. This revolutionary presale tactic fosters community and collaboration, as each investment in the presale benefits others. The investor using another user’s referral code will receive 20% more BEASTS tokens. This two-way incentive structure ensures that both parties involved in the referral scheme emerge as winners.
Cardano: Staking For Sustainable Growth
Staking is a fundamental feature of the Cardano blockchain that allows users to participate in the network’s consensus protocol and earn rewards. By holding and delegating their ADA (Cardano’s native cryptocurrency) to a stake pool, users contribute to the network’s security and decentralized nature. In return, they receive a portion of the newly minted ADA as passive income.
Users need to hold ADA in a compatible wallet to stake on Cardano. They can delegate their ADA to a stake pool of their choice, which operates the necessary infrastructure for participating in the consensus protocol. The rewards generated by the pool are then distributed proportionally among the pool members. Cardano’s staking mechanism ensures that the network remains secure and robust while providing a passive income opportunity for ADA holders.
Cosmos: Empowering Interoperability
Staking is a central component of the Cosmos ecosystem, enabling the platform’s governance and consensus protocol. By staking their ATOM (Cosmos’ native cryptocurrency), users participate in the network’s security and decision-making processes. In return, they receive rewards in the form of additional ATOM tokens, representing their share of the network’s inflation.
To stake on Cosmos, users must hold ATOM in a compatible wallet and select a validator to delegate their tokens. Validators are responsible for validating transactions and proposing new blocks on the Cosmos network. By empowering their tokens to reliable validators, users contribute to the network’s security and receive a proportional share of the rewards generated by the validator.
Takeaway
In the pursuit of passive income, investors in cryptocurrency have various options to explore. Caged Beasts’ referral scheme presents an innovative approach to generating income by leveraging community growth.
On the other hand, Cardano and Cosmos offer staking functions that provide passive income opportunities based on their respective blockchain networks’ security and governance mechanisms. While each approach has unique features, they aim to create passive income opportunities for investors.
Find out more about Caged Beasts (BEASTS):
- Website: https://cagedbeasts.com
- Twitter: https://twitter.com/CAGED_BEASTS
- Telegram: https://t.me/CAGEDBEASTS
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