Due to persistent economic uncertainty across the globe, it has become increasingly important to have multiple streams of income. The idea of passive income has always been around but it came under the spotlight during the pandemic of 2019, when jobs were lost. Now, people prefer having at least one passive income stream that provides substantial returns and is easily manageable.
In the realm of blockchain technology, there are two common ways to generate crypto passive income: staking and referral schemes. In this article, let’s explore staking with Solana (SOL) and Avalanche (AVAX) and the extremely rewarding referral scheme offered by DogeMiyagi (MIYAGI).
Staking With Solana (SOL)
Solana, a rapidly rising blockchain platform, has garnered attention for its surging native token SOL and its remarkable transaction speeds, affordability, and expansive ecosystem. Operating on the Proof-of-Stake (PoS) consensus mechanism, the Solana ecosystem offers a pathway to earning crypto passive income by staking SOL. This crypto staking process is relatively straightforward and can be executed either through crypto exchanges or dedicated wallets.
Notable exchanges like Coinbase, Kraken, and Binance provide staking programs for SOL, allowing users to seamlessly participate in the network’s staking process directly from their exchange accounts. Additionally, various staking wallets, including the official Solana Wallet and Exodus, support SOL staking.
While specific minimum deposit requirements vary among platforms, Solana’s network itself does not impose a particular minimum number of tokens for staking. The potential rewards from staking SOL hinge on factors like the number of tokens staked, the staking approach, and the network’s performance. Nonetheless, it is a good stream for generating passive income.
Staking With Avalanche (AVAX)
Avalanche, an impressive high-speed and scalable blockchain, has gained traction for its near-instant transaction speeds and lower transaction costs. The native token of the Avalanche platform, AVAX, plays a vital role within the ecosystem. It facilitates transactions by powering them and also serves as the medium for distributing system rewards, engaging in governance activities, and covering network transaction fees.
Its staking process is similar to Solana, offering a reliable method for earning yields on AVAX tokens. With integration into wallets, users can initiate staking with as little as 25 AVAX. Even if an individual possesses a lower amount, platforms like Binance provide options to engage in staking.
Is Staking Worth It Afterall?
While staking, powered by Proof-of-Stake mechanisms, is a great method to grow your income, it presents a notable challenge. When individuals delegate their funds for staking in a network, their invested funds become locked within the network. This essentially renders the amount illiquid, restricting the ability to utilize those funds elsewhere.
This lack of liquidity is a central concern, as it exposes participants to the risk of potential devaluation over time, influenced by the ever-changing market conditions. Therefore, it is recommended to explore other options for crypto passive income before venturing into staking.
DogeMiyagi’s Referral Scheme Trumps All!
DogeMiyagi enters the cryptocurrency arena with a distinctive value proposition, combining the glory of the Dogecoin meme with the burgeoning interest in Decentralized Finance. Inspired by the iconic Mr. Miyagi from “The Karate Kid,” this project follows a community-driven model, involving users in key decisions across all stages of the project’s development. This instils a sense of belonging and fosters a strong bond among the token holders.
Setting itself apart from others, DogeMiyagi’s referral program redefines the landscape of crypto passive income. The platform rewards users with an enticing 10% commission for bringing in new investors through their referral links. This ingenious scheme not only motivates the existing community to actively promote the project but also expands the user base, propelling growth. As opposed to crypto staking, it provides an effortless and risk-free way to grow your capital.
In a nutshell, generating crypto passive income is becoming increasingly popular, with various options including crypto staking and attractive referral schemes. After careful analysis of staking with Solana and Avalanche and the highly lucrative referral scheme of DogeMiyagi, it is evident that the latter is a much better option to generate passive income because it involves no risk and provides high returns.
Then why wait? Join the DogeMiyagi presale now to benefit from the best passive income option!
DogeMiyagi (MIYAGI):
Website: https://dogemiyagi.com
Twitter: https://twitter.com/_Dogemiyagi_
Telegram: https://t.me/dogemiyagi