Some people consider holding BNB as a form of passive income for retirement. The idea is not bad, but if you really want to do it, you need to first understand the difference between BNB and traditional dividend stocks — they may look similar as passive income sources, but their underlying logic is vastly different.

BNB's "returns" mainly come from several channels: staking mining, Launchpool airdrops, and ecosystem incentives. It sounds substantial, but these earnings are not fixed cash dividends. They are more like dynamic incentive mechanisms designed by the platform to encourage user participation, with yields fluctuating based on market conditions, platform activity levels, and protocol updates. In contrast, dividends from traditional dividend stocks come from the company's after-tax profits, and companies usually set relatively fixed dividend payout plans based on operational stability.

When it comes to certainty of returns, the difference becomes even more pronounced. BNB's annualized yield is a "live number" — it might be 8% this year, 3% next year, depending on platform incentive policies and market enthusiasm. Mature blue-chip dividend stocks, while not guaranteed to be 100% stable, generally follow historical patterns, and their dividend expectations are relatively transparent.

Regarding principal, both can fluctuate, but the nature of these fluctuations is entirely different. BNB's price volatility can be quite intense, but behind that is the growth momentum of the entire ecosystem — when it rises, it can surge dramatically. Traditional dividend stocks also fluctuate, but the growth potential of blue-chip companies is usually less explosive, and the risk-reward trade-off is on a different scale.

Looking at dependency, holding BNB is almost entirely tied to the Binance platform. The platform's operational status, ecosystem development, and policy changes directly impact your earnings. While traditional companies also have similar single-dependency risks, there are regulatory frameworks and bankruptcy protections to provide some safety net. The current institutional framework of the crypto ecosystem is not yet fully mature, which is an important concern to consider.

Regulatory environment is the most uncertain factor. The policy landscape for crypto assets is rapidly evolving worldwide and has not yet reached the relative maturity and standardization of traditional securities markets. This means your passive income model could face sudden policy shocks.

So, using BNB as a pension fund? It’s worth considering, but don’t treat it as a stable choice like traditional dividend stocks. It’s more like seeking higher growth potential in an environment with lower certainty.