Are Referral Schemes Better Than Staking For Generating Passive Income In Crypto? KuCoin And Caged Beasts Vs Ethereum And Binance

Before the battle begins, it’s time for a quick rundown. You undoubtedly already know about Ethereum and Binance, but what about the other two?

KuCoin, a prominent crypto exchange similar to Binance that allows users to buy, sell, and trade crypto. Peer-to-peer trading is one of the numerous additional features that the platform provides in addition to standard trading alternatives. Users have the option of lending or staking their cryptocurrency to receive incentives. KuCoin has affordable trading fees when compared to some of its rivals, making it a desirable choice.

Caged Beasts is an upcoming meme coin that promises to revolutionize crypto presales by making them more exciting than ever before. While presales often come with bonus codes and competitions that incentivise new investors to keep buying, Caged Beast aims to do something different. Directly related to the unique theme of the project, Caged Beasts will release a different wacky creature for each stage that its holders can collect and train as they continue growing over time - giving them a reason beyond money to continue taking part.

Round 1: KuCoin and Caged Beasts

Referral schemes have become a go-to strategy for many crypto platforms to attract new users and incentivize existing ones. One prominent player in this arena is KuCoin, a well-known cryptocurrency exchange. KuCoin offers a referral program where users can earn rewards by referring friends and family to join the platform. It's a win-win situation - you get to share your positive experience with others while also earning some extra crypto in the process.

The KuCoin referral program works like this: Once you sign up on KuCoin, you receive a unique referral code or link. Share this code or link with your acquaintances, and when they sign up and start trading on KuCoin, you earn a referral bonus. The bonus is usually a percentage of their trading fees or a fixed amount in crypto. It's a simple and effective way to grow the KuCoin user base while rewarding those who bring in new traders.

Users can generate passive revenue with the Caged Beasts referral programs. Participants have the ability to create their own special referral codes that, when used by others to deposit ETH, BNB, or USDT, will immediately reward the code holder with 20% of the deposited amount added to their wallet. Additionally, 20% more BEASTS tokens will be awarded to the investor who uses the referral code, creating a win-win situation for all parties.

Round 2: Ethereum and Binance

Now, let's shift gears and talk about staking. Staking has gained popularity as a means of earning passive income in the crypto world. It involves holding and locking up your cryptocurrencies in a wallet or on a platform to support the network's operations. In return for your contribution, you receive staking rewards.

When it comes to staking, Ethereum (ETH) and Binance Coin (BNB) are two prominent players. Ethereum, the second-largest cryptocurrency by market capitalization, is transitioning from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism. This upgrade opens up the opportunity for ETH holders to stake their coins and earn rewards. By participating in the Ethereum staking process, you help secure the network and validate transactions, and in return, you receive ETH rewards.

On the other hand, Binance Coin (BNB), the native token of the Binance exchange, also offers staking opportunities. Binance operates a staking platform where users can lock up their BNB and receive staking rewards. By staking BNB, you contribute to the Binance ecosystem's stability and security, and in turn, you earn additional BNB tokens.

The Real Battle

So, how do referral schemes and staking compare? Well, they serve different purposes. Referral schemes are primarily focused on expanding the user base of a platform by incentivizing users to invite others. They provide a way for users to earn rewards based on the trading activities of their referrals. Staking, on the other hand, is about earning passive income by participating in the network's operations and locking up your tokens.

In terms of potential earnings, referral schemes can be lucrative if you have a wide network and can bring in active traders. The more people you refer, the more rewards you can earn. However, the earnings from referral programs are usually limited to a certain period or a specific percentage of trading fees.

Staking, on the other hand, offers ongoing passive income as long as you continue to stake your tokens. The rewards are typically based on factors like the amount of tokens staked and the duration of the staking period. Staking can be a more sustainable option for long-term passive income, especially if you believe in the future potential of the staked cryptocurrency.

In the case that referral schemes are your preferred avenue for passive income, keep Caged Beast on your radar. Its presale will start in a matter of weeks and once it does, things will start moving fast. You won’t want to miss out.

Find out more about Caged Beasts (BEASTS):

Website: https://cagedbeasts.com

Twitter: https://twitter.com/CAGED_BEASTS

Telegram: https://t.me/CAGEDBEASTS