The best coins for passive income – XRP, SPONGE V2, Meme Kombat

It has become known that very soon the public blockchain XRP Ledger will have a steaking feature available. This means that traders will no longer have to make an effort and sell XRP tokens to make a profit. Instead, they will be able to block assets and thus increase their passive income level. Moreover, the amount of the final reward will directly depend on the number of participants in the steaking. This means that the more people block tokens, the higher the reward will be. However, XRP is not the only digital asset that can bring impressive profits to its owners. There are 2 other coins on the market today that have an early-stacking feature – Sponge V2 and Meme Kombat. They are what this article is about.

Three tokens that can bring substantial passive income in 2024

In the list of potentially profitable are already known projects. These are:

• XRP – an efficient tool for fast and inexpensive international transfers that has stood up in court against the SEC.
• SPONGE V2 – a meme asset that is available exclusively through Stake-to-Bridge technology and offers an opportunity to profitably dispose of Sponge V1 that remains unsupported.
• Meme Kombat is an online arena for virtual battles between players, offering the opportunity to earn money from staking even before the official release on cryptocurrency exchanges.

How to earn passive income with XRP

The fact that the XRP ecosystem will finally have the ability to put coins into steaking has been talked about since the summer of 2023. This process should be carried out through an integrated AMM mechanism (or “automated market maker”). Simply put, every XRP owner can become a so-called liquidity provider. To do this, he needs to deposit tokens into the AMM and receive a percentage of the commission as a reward.

In fact, XRP is an asset that does not require high commission payments. The minimum transaction value is approximately $0.0000063 versus nearly $50 in standard transfers. One should keep in mind that it can increase from the network load, but it is still unlikely to reach the mark of several tens of dollars.

XRP can also be used to convert one fiat currency into another. For example, one user wants to transfer $100 in yen to another. Then it will be easier to exchange money to tokens and back to avoid high transaction fees.

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It is also reported that at the moment, while waiting for the launch on Ledger, everyone can steak XRP coins on Binance, one of the industry’s largest exchanges. To do so, you need to:

1. Select the Simple Earn panel.
2. Find and select the desired token among many other available options.
3. Set a suitable amount to be placed in the staking.
4. Start accumulating cryptocurrency rewards.

However, while blockchain XRP requires the help of third-party resources, other coins – Sponge V2 and Meme Kombat – have gained the necessary option at the presale stage. As previously reported, both of them offer the opportunity to earn from staking even before they are released on exchanges.

SPONGE V2 is the second version of the successful token with the steaking function

Meme coins are particularly popular among traders and investors today. They are funny, attract attention and help to get a pretty good profit in a short period of time. Therefore, it is not surprising that developers strive to release more and more such tokens of different degrees of virality and usefulness. However, the developers of Sponge V2 took a different path and decided to add features to an already successful project.

Unlike the vast majority of new releases, Sponge V2 does not include a pre-sale. It can’t be bought as part of a presale for a more favorable price before the immediate release on the exchanges. However, there is another convenient way to get a promising coin. Through the Stake-to-Bridge mechanism, traders and investors can exchange previously purchased original Sponge for updated ones. At the same time, the conditions of such an exchange are as favorable as possible: for example, for 150 V1 tokens, platform users will be credited with the same amount of V2 tokens.

The previous version of the asset – V1 – last year amazed analysts and experts. In a short period of time, the market capitalization of the token grew to $100 million. Its annual price increase at some point was 1000%.

Therefore, it is not surprising that V2 is expected to deliver similar results. Especially now that the developers plan to add a P2E game in the racing genre to the project’s ecosystem.

Features:

• The developers’ past project has gone live on 10 different exchanges.
• Large and strong community of more than 30 thousand people.
• Approximate annual profitability – 197%.

Meme Kombat – a token that combines memes and many ways to generate passive income

In conclusion – about one more asset, which is based on the steaking mechanism. Meme Kombat is at the final stage of pre-sale and is gradually preparing to enter the trading floors. Investors should hurry up if they want to buy the token at a reduced price ($0.279), as the developers have less than $800,000 left to raise to close the presale.

At the moment, the gaming component of the platform is still under development. According to the roadmap, the launch of the initial season of virtual battles should take place in the first quarter of 2024, already after the asset is listed.

Author: Saifedean Ammous, an expert in cryptocurrency economics.