“When your money makes more than you do, you are officially wealthy.” Remember these golden words of The New York Times bestselling author Dave Ramsey next time you plan to invest your money in a new business. Now, let us explain how investing in cryptocurrency can help you in the process of becoming “officially wealthy.”
As blockchain technology continues to evolve, cryptocurrencies leverage these advancements to create more avenues for passive income. Among these options, staking and referral rewards shine as the favoured methods. In this article, we’ll delve into the staking opportunities presented by Ethereum and Solana, explore the referral scheme offered by Caged Beasts (BEASTS), and uncover how they distinguish themselves from existing crypto staking and referral schemes in the market.
4 Ways To Stake Your Ethereum
Ethereum is similar to other blockchains that allow people to communicate and transact their money without being monitored by any central authority. However, it stands out with its technological advancements and unique tools that help developers build smart contracts on the Ethereum blockchain.
Ethereum hosts its native currency called Ether (ETH), which is the second-largest cryptocurrency in the market. Apart from trading, Ethereum offers numerous opportunities to earn passive income using its token, Ether. Among them, staking remains the top choice for Ethereum investors
To stake your ETH token, you need to activate validator software, which requires a deposit of 32 ETH. There are four methods available for Ethereum staking:
- Solo Staking: The official website of Ethereum describes this method as the gold standard for staking. In this method, you can earn maximum reward directly from the protocol, but you need at least 32 ETH to stake and a computer with a 24/7 network connection.
- Staking as a Service: This option allows you to earn rewards without the hardware part. By depositing your 32 ETH, you can create a set of validator credentials, and the service will validate on your behalf. But you will have to pay a monthly fee for node operation.
- Pooled Staking: This method is suitable for individuals who are not comfortable staking their full 32 ETH tokens. You can stake any desired amount of tokens and earn rewards in proportion. But the reward varies depending on the method you choose.
- Centralised Exchanges: If you prefer not to keep your ETH tokens in your own wallet, you can stake them through centralised exchanges.
Currently, the Ethereum network boasts over 600,000 validators, and staking ETH provides an approximate annual percentage yield (APY) of 4.4%.
Solana Offers Over 6% APY
Solana is another blockchain platform that uses a Proof Of Stake consensus algorithm to enable smart contract functionality. The network is powered by its native token called SOL. With a market capitalisation of 6 billion dollars, SOL is trading in the market as the 10th largest cryptocurrency.
Like Ethereum, Solana also offers staking options to earn passive income.
To stake your SOL token, you should have a wallet that supports staking. After moving your SOL token to the wallet, you can create a staking account. Then you can choose a validator and delegate your SOL token for staking. In return, you can earn up to 6.7% APY.
Caged Beasts Provides The Unmatched Opportunity
Caged Beasts is an exciting new meme-themed cryptocurrency built on the Ethereum blockchain. This innovative project aims to unlock the full potential of the DeFi system in the global financial market and disrupt traditional finance.
BEASTS serves as the native token of the Caged Beasts ecosystem. Recently, the project team launched the BEASTS token presale, which has garnered considerable attention. The token’s technological advancements, community-driven approach, and forward-looking vision have contributed to its growing popularity during the pre-launch phase.
Despite not yet being officially launched, the Caged Beasts project team offers a referral scheme that benefits both the referrer and the referred individual. By inviting a new investor to join the community, the referrer can earn a 20% commission on the investor’s investment amount. Similarly, the investor can also receive an additional 20% of tokens using the referral code.
Furthermore, Caged Beasts is developing plans for competitions, events, and offers that will provide more opportunities for investors to earn passive income.
In conclusion, Ethereum, Solana, and Caged Beasts offer a plethora of unique ways for investors to generate a passive income that traditional businesses cannot match.
For more info on Caged Beasts (BEASTS):
Website: https://cagedbeasts.com
Twitter: https://twitter.com/CAGED_BEASTS
Telegram: https://t.me/CAGEDBEASTS
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.