Passive income has become an increasingly popular financial goal for many individuals seeking to achieve financial freedom and security. But can passive income make you millions? We’ll have a look at that by going through three cryptocurrencies: Avalanche (AVAX), Cosmos (ATOM) and Caged Beasts (BEASTS).
These platforms offer unique features and opportunities for individuals to participate in decentralised finance (DeFi) and generate substantial returns without the need for active involvement in day-to-day operations. But can they make you millions?
Passive Income With Avalanche
Avalanche is a high-performance blockchain platform designed to enable decentralised applications (dApps) and smart contracts. Its primary consensus mechanism, Avalanche consensus, allows for quick transaction confirmations and low fees, making it an attractive option for users. There are two main ways to generate passive income on Avalanche: staking and yielding.
By staking AVAX, the native token of Avalanche, individuals can participate in the network’s consensus mechanism and earn rewards for securing the network. Validators are responsible for processing transactions and maintaining the network’s integrity, and they receive a portion of the transaction fees and newly minted tokens as incentives.
Avalanche hosts a variety of DeFi protocols, such as lending, borrowing, and decentralised exchanges. Users can provide liquidity to these platforms by depositing their AVAX or other compatible tokens. In return, they receive trading fees and additional rewards in the form of native tokens or other incentives. This process, known as yield farming, can potentially generate substantial passive income.
Exploring The Cosmos
Cosmos is another prominent blockchain platform that facilitates interoperability between different blockchains. Its ecosystem consists of multiple independent blockchains, called zones, connected through a central hub, known as the Cosmos Hub. Individuals can leverage Cosmos to generate passive income through staking and participating in decentralised applications.
Cosmos utilises a proof-of-stake (PoS) consensus mechanism, allowing users to stake their ATOM tokens and become validators or delegators. Validators process transactions, secure the network and receive rewards in the form of transaction fees and newly minted tokens. Delegators, on the other hand, can delegate their tokens to validators and earn a portion of the staking rewards.
Cosmos also provides opportunities to participate in various DPoS projects within its ecosystem. These projects, such as Kava, Terra, and Akash, enable users to earn passive income by staking their ATOM tokens or other compatible assets. By participating in these projects, individuals can earn staking rewards, transaction fees, or governance tokens.
Generating millions in passive income using Avalanche and Cosmos requires careful research, risk assessment, and active engagement with the respective platforms. By staking their native tokens, engaging in yield farming, and participating in various DeFi protocols and projects, individuals can potentially earn substantial passive income.
Crypto Referral With Caged Beasts Can Yield High Dividends
Caged Beasts introduces a unique meme coin that diverges from conventional tokens and financial systems. It transcends being a mere cryptocurrency by narrating a tale of locked liquidity transforming into formidable cybernetic creatures.
Notably, a substantial portion of the funds remains locked until they are eventually released, presenting secure opportunities for investors and participants in decentralised finance (DeFi). With a lively community, Caged Beasts cultivates a sense of financial freedom and fosters boundless imagination within the realm of cryptocurrencies.
Now, let’s delve into their referral programme.
Essentially, each user is assigned a personalised referral code. When another individual employs this code to make a purchase, you immediately receive 20% of the amount they deposited in popular cryptocurrencies such as ETH, BNB, or USDT. These funds can be utilised freely according to your preferences.
This innovative approach revolutionises presales by establishing a sense of community where everyone’s investment contributes to the prosperity of others. What enhances the appeal of this referral scheme even further is that the individual using someone else’s code also receives an additional 20% of BEASTS tokens. It becomes a mutually beneficial scenario for both parties involved, as they both receive rewards from each transaction, making it highly advantageous.
Caged Beasts
Website: https://cagedbeasts.com
Twitter: https://twitter.com/CAGED_BEASTS
Telegram: https://t.me/CAGEDBEASTS