Top 3 Passive Income Investments in 2023
Staking is a mechanism that allows cryptocurrency holders to participate in the proof-of-stake (PoS) consensus protocol and earn rewards for validating transactions on a blockchain network. Both Cardano (ADA) and Binance Coin (BNB) offer staking opportunities for their respective holders.
However, staking is no longer the only option to earn passive income with crypto. There are now staking alternatives to passive income. Caged Beasts is a meme coin introducing a referral scheme to aid in the crypto’s development—could referral schemes be the future of passive income cryptos?
Binance's Staking Products
Binance Coin (BNB) operates on the Binance Smart Chain (BSC) network. BSC utilizes a modified version of the Ethereum Virtual Machine (EVM) and supports staking through various mechanisms. BNB holders can participate in staking programs offered by Binance, such as Binance Savings and Binance Launchpool.
In Binance Savings, users can lock up their BNB tokens for a specified period and earn interest on their holdings. Binance offers various staking products with different lock-up periods and interest rates, allowing users to choose an option that suits their preferences.
Binance Launchpool is another staking opportunity where BNB holders can stake their tokens in specific projects hosted on the Binance platform. By staking BNB, participants can earn rewards in the form of newly issued tokens from the project they are staking with.
Staking with Cardano's Reputable Platform
Cardano, being a blockchain platform built with a focus on sustainability, security, and scalability, utilizes a unique PoS algorithm called Ouroboros. In Cardano's PoS system, stakeholders who hold ADA can delegate their coins to a stake pool or run their own pool to participate in the network's block validation process. By doing so, they contribute to the security and decentralization of the Cardano network.
Staking ADA on Cardano allows participants to earn rewards in the form of additional ADA tokens. The rewards earned depend on factors such as the amount of ADA staked, the duration of staking, and the performance of the stake pool. ADA staking rewards are typically distributed at regular intervals, and participants can choose to either compound their rewards or withdraw them.
The Evolution in Passive Income Cryptos with Caged Beasts Referral Scheme
Caged Beasts (BEASTS) is one of the first meme coins built on lore and storytelling to grasp at the heart & minds of its community, driving them to spread the word of the meme coin, which results in its success. The communities symbolic mission is to free these caged beasts that are mutant animals created to destroy centrality and usher in DeFi—by supporting BEASTS, you play a role in the narrative.
Another incentive to spread the word of BEASTS is the referral scheme, where users receive a unique referral code to share with others. Whoever uses their code gets a 20% crypto bonus instantly made available in their wallets to spend and withdraw.
Staking with Cardano and Binance Coin offers a way for cryptocurrency holders to earn passive income by actively participating in the networks. It's important to note that staking involves locking up funds for a certain period, and the specific mechanics and rewards may vary based on the network and staking program chosen.
Caged Beasts referral scheme is the most risk-free option since it doesn’t rely upon you locking away assets that can lose value. You earn income from simply having a referral code available to the world, and as BEASTS grows, more people will be using your referral code.
Caged BeastsWebsite: https://cagedbeasts.com
Twitter: https://twitter.com/CAGED_BEASTS
Telegram: https://t.me/CAGEDBEASTS