Cryptocurrencies have long had the allure of being the assets that can yield chartbuster returns. As infusing in crypto assets gets more mainstream, it is vital to learn more about the ways in which crypto can generate passive income.
The most popular means is using a proof-of-stake (PoS) algorithm to staking tokens of a network. Polkadot is an example of a network using staking to generate revenue. Staking is the efficient answer to the inefficiency of using proof-of-work (PoW) algorithms to earn crypto rewards, as is the case with the Monero network.
There is also a new player in the market with an innovative idea of earning crypto rewards. Caged Beasts (BEASTS), a new meme coin gearing up for its presale, is introducing a referral scheme to earn revenues for its holders. This article will delve into the mechanisms in the DOT, XMR, and BEASTS networks to earn crypto rewards for their holders.
Polkadot: The Staking Method to Earn Crypto Rewards
The Polkadot network’s main claim to fame is its strengths in scalability and interoperability. The network also has the potential to generate passive income using a proof of stake (PoS) consensus mechanism. Through staking, DOT holders can use their tokens in the network to secure the blockchain and, in turn, receive rewards.
Staking rewards in Polkadot are generally based on the number of tokens held and the duration of the staking period. While this method has proven profitable for many, it is worth exploring alternatives to diversify your portfolio and potentially increase your returns.
Monero: The Proof-of-Work Method for Revenue Generation
Monero, a privacy-focused cryptocurrency, brings a cloak of privacy to blockchain transactions. The network anonymizes information about the sender and the receiver using advanced cryptography. The network’s potential lies in the demand for secure and anonymous blockchain platforms to go up.
As the Monero network does not use a proof stake mechanism, the token cannot be used for staking, nor can it generate through staking. Users primarily rely on price appreciation to generate returns. While Monero remains, an appealing asset due to its privacy features and its overall market performance leaves a lot to be desired, with performance tanking since the month of April.
Caged Beasts: The Innovative Approach to Passive Income
Caged Beasts is a project that has presented a third option to earn passive income with its unique referral program. By joining Caged Beasts, holders gain access to a personalized referral code.
When someone uses this code to make a purchase, the owner of the code instantly receives 20% of the deposited amount in ETH, BNB, or USDT. The user of the code is also rewarded with a 20% bonus of $BEASTS. This option allows users to earn passive income by simply sharing their referral code with friends and family.
Caged Beasts is gearing up for the launch of its presale, and it has caught the eye of the market with its transparent approach. The network has revealed it will release 75% of $BEASTS in the presale. With its commitment to transparency and community involvement, Caged Beasts hopes to capture investors’ attention seeking financial gains and an engaging experience.
Last Take
Passive income generation has long been a goal for crypto adherents, and options like staking Polkadot and investing in established coins such as Monero have been popular. However, Caged Beasts presents a fresh perspective on how to make your coffers work for you.
With its innovative referral program, strong community focus, and commitment to transparency, Caged Beasts has the potential to captivate both seasoned adherents and thrill seekers who populate the ranks of meme coin communities.
For more about Caged Beasts (BEASTS):
Website: https://cagedbeasts.com
Twitter: https://twitter.com/CAGED_BEASTS
Telegram: https://t.me/CAGEDBEASTS
Disclaimer: This is a sponsored article, and views in it do not represent those of, nor should they be attributed to, ZyCrypto. Readers should conduct independent research before taking any actions related to the company, product, or crypto projects mentioned in this piece; nor can this article be regarded as investment advice.
