By Guest Writer •
Published: 08 Jun 2023 • 10:30
When it comes to investing, there’s one approach that truly builds wealth—the pursuit of passive income. This approach, championed by the ‘Rich Dad’ philosophy, emphasises the importance of income that works for you even when you’re not actively involved.
In the world of cryptocurrency, Ethereum (ETH) and Binance’s (BNB) staking mechanisms, alongside Caged Beasts’ (BEASTS) unique referral system, embodies this strategy, revolutionising the way we earn and redefining what it means to be truly rich.
In the realm of cryptocurrencies, Ethereum holds a prestigious position. One of the ways Ethereum rewards its holders is through staking, a process where investors lock up a certain amount of their Ethereum in return for rewards. Simply put, you earn additional Ethereum by holding and securing the Ethereum network.
However, Ethereum staking requires a significant investment (32 ETH, which is quite hefty at current prices), potentially deterring small investors. Additionally, your stake is locked in and cannot be easily accessed, necessitating careful financial planning.
BNB, or Binance Coin, has a similar staking mechanism. By temporarily locking up your BNB tokens, you contribute to securing the network and earn rewards in return. Different platforms offer various methods to stake BNB, making it relatively flexible. However, like Ethereum, staking BNB requires a commitment of funds, and there’s a ‘slashing risk,’ where staker’s could miss out on potential rewards if the validator they staked with doesn’t perform well.
Enter Caged Beasts, a budding project in the crypto world. Its approach to passive income diverges from the staking model. Caged Beasts has introduced an intriguing referral system: users generate their own referral codes, and if another person uses this code for a purchase, the code’s owner receives an instant 20% of the deposited amount in their wallet.
This system encourages active participation and engagement within the community. However, it does hinge on your ability to attract new users, introducing a level of unpredictability to your passive income.
Ethereum and BNB staking provide a steady, more predictable source of passive income, dependent mainly on the amount staked and the networks’ stability. On the other hand, Caged Beasts’ referral system offers a potentially high return based on community involvement and marketing skills.
Your choice hinges on your risk tolerance and investment strategy: do you prefer a steady but significant commitment (staking) or a variable but engaging return (referrals)?
Passive income has been revolutionised by the advent of blockchain technology. Crypto technologies like Ethereum and BNB staking, and unique referral systems like Caged Beasts, are reshaping investing by offering accessible passive income streams.
By lowering the entry barrier, these innovative models democratise wealth creation. As we navigate this dynamic landscape, it’s crucial to keep our financial goals, risk tolerance, and investment strategy in mind. After all, in the world of investing, one size does not fit all.
Read all about Caged Beasts (BEASTS):
WARNING: The investment in crypto assets is not regulated, it may not be suitable for retail investors and the total amount invested could be lost
AVISO IMPORTANTE: La inversión en criptoactivos no está regulada, puede no ser adecuada para inversores minoristas y perderse la totalidad del importe invertido
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