Blockchains are minting crypto. And crypto is minting millionaires. Many experts are saying that top cryptocurrencies offer some of the most lopsided risk-to-reward that’s ever been seen.
We all know crypto is going mainstream. What better feeling than having a nice stash of assets that will probably retire you a millionaire? Well, it feels just a bit better if you’re also earning passive income on your crypto along the way. With returns as high as 100% on staking (depending on the asset and platform, etc.) it’s almost silly to not take advantage of passive income-producing opportunities.
However, it’s not all run and games and it’s not totally free of risk. First of all the token that you’re staking could fail (like LUNA/USDT did). Secondly, it can take some time to really get the hang of DeFi platforms, crypto wallets, staking, lending, liquidity pooling, and so on.
To get you started, here are three DeFi tokens that can help you turn your long-term crypto investments into passive income juggernauts.
SpookySwap is a fast-growing decentralized exchange (DEX) built on top of the Fantom blockchain. In addition to letting users swap tokens, the BOO token lets users earn passive income.
You can stake BOO and receive xBOO which acts as a receipt of your BOOs. You can then stake xBOO in the partner pools section of the platform. 15% of all trade fees when holders swap their xBOO back to BOO is airdropped back to holders.
In addition to earning passive income on your BOO, there’s a chance that the BOO token could pull a 20X run-up before the decade is over.
PancakeSwap is another DEX that offers yield farming opportunities similar to SpookySwap. However, PancakeSwap is a bit more complex and offers a far richer pallet of staking and lending opportunities. Investors can stake a variety of cryptocurrencies on PancakeSwap, not just one. These include the native CAKE, SYRUP, and FLIP tokens as well as ETH, BNB, and USDT.
As with BOO they earn a cut of the transaction fees. While the platform can be a bit confusing for beginners, it’s very popular among professional crypto traders.
The Gnox DeFi platform is a horse of a different color. Staking is so easy on Gnox that there’s literally nothing you have to do except purchase the token. All of the staking is done by a team of top DeFi analysts. You can just sit back and watch your balance go up.
The Gnox platform aggregates data on a wide variety of passive income opportunities — not just at one exchange, but many across several platforms and blockchains. The team at Gnox then distills all the data down into a digestible format and makes recommendations that are then voted on by holders.
GNOX is a treasury-backed token. That means that there are actual assets in a treasury that are co-owned by all GNOX holders. Those assets — a diversified backset of cryptocurrencies — are used to earn passive income that is then shared equally amongst all GNOX holders.
The simplicity of the platform gives Gnox a shot at being the first DeFi token to see mass adoption. And you can get in on the action before the public as Gnox is holding a private presale before the token goes onto exchanges.
Check out the whitepaper at Gnox.io to learn more about how GNOX works for you. While you’re there pick yourself up a bag of GNOX tokens for less than two pennies each — that is if it hasn’t already sold out.
And, by the way, by investing in GNOX you’ll probably end up having exposure to BOO and CAKE and scores of other similar DeFi tokens.
Learn more about Gnox:
Join Presale: https://presale.gnox.io/register
Always conduct proper research when dealing with pre-sales of currencies and tokens. The information above does not constitute investment advice by CryptoMode or its team, nor does it reflect the views of the website or its staff.
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