In the crypto world several ways you can make money. Initially to start with digital currency simply buy and sell cryptocurrency through an exchange like Binance or Kucoin. The holding crypto coin is another way to make money. In this platform people earning in different way. So, as a part of them Masternode is a great way to make money. Guys, in this post I am going to discuss all about how to make money with Masternodes. So before it is focus it out I am gonna to share a little bit about what is Masternodes?
What is a MasterNode?
It is need to know a little bit about which blockchain support cryptocurrency Masternode? Before explaining what is Masternode? Simply, Masternode is a computer that is a part of coin network.
In broad term blockchain network in not only decentralize, but also publicly distributed. That means to fulfill a coin block chain different user are running nodes from a different computer. As a result, you need a copy of the full node to running on your PC that support the network.
A step goes ahead blockchain can be categorized in three ways POW (proof of work), POS (proof of stake) and another create with both of them. To be function those blockchains should have tackled to complete the transaction.
So, proof of work blockchain is like Bitcoin that is organized by ‘miners’ who complete the whole process to ‘mining’ blocks then add to the block chain.
Miners a mathematical process with using ‘rig’ that is calculate a high volume of computer data and with a consensus answer to a puzzle. So only the mining rig who are complete as soon as possible first the answer to this puzzle correctly won the block and get the rewarded.
To earn money from Masternode chooses affordability of the operator. Before starting any Masternode be careful to choice right one that will bring high returns.
Understanding the Masternodes
To grab out understanding Masternode we are going to inquire two type of blockchain and pick up which is run on Masternodes. As above we have discus proof of work and proof or stake.
- POW (proof of work) It’s machining by miners rigs.
- POS (proof of stake) and it’s machining work through Masternodes.
What is POS coin?
To clear your concept I explain it very simple way. Proof of stake is that a person can mine coined. Also can validate block chain transactions. As he or she how many coins are holing. As many as coin they are holding mean the chance of high mining pioneers.
How Masternodes Can Make Money?
Cryptocurrency trading is not the only way to make money. There are many ways to make a profit and make reasonable passive money.
Masternode is an option where you can make passive income. But you need certain time connected on the internet. So, Masternode is one of the useful ways to regenerate monthly or weakly money.
POW is high power consuming that why most of the crypto industry are moving to new energy efficient system POS (proof of stake). So it underpinned with Masternodes.
Through several computer this transaction completed. When the blocks being created they just get rewarded. Every nodes are on the blockchain and certain level nodes on the network randomly selected.
Masternode so called bonding validating systems that are complete where traditional proof of work is limited. Dash coin is an ideal example, who using Masternode.
User on the blockchain network are getting rewarded for managing the network. To do this there needs to give fiscal venture. Mastermind help to protect blockchain network attack.
For example, to participate on dash Masternode you need to buy 1000 coin.
Markets are always fluctuation so look at the current return investment. And it is the current market value per coin is $80. So, if you invest on that coin the ROI approximately 10%. As a result you can make money with Masternodes like passive income.
If the price goes high the profit potentiality increase. In 2011 Dash coin value goes higher and pick up $1100. So increase any Masternode coin value added potentiality on ROI. Because the rewarded pay with that coin.
How To Host A Masternode?
Already you have known that different way you can make money with cryptocurrency. The main thing to go with right way. Bitcoin mining is a great idea to get coin, but cryptocurrency long trade and holding is almost risk free.
If you like to Holding coin to make money with Masternodes than using Masternode is the best way.
To run a mastermind you need to run your computer 24/7 on the internet. Hosting a mastermind does not need high requirements. Basically, you need a trusted and real-able hosting, VPS package who gives you 99% uptime guarantee. It is pretty good to choose a user friendly reliable service.
Recommended VPS for a Masternode?
To start you need a core wallet that is connected online and downloads the entire blockchain of the crypto. At this time it’s download to your connected PC. You also need as with staking, on the core wallet have at least some coin as per cryptocurrency.
For example, to make money with Masternodes there have number of ideal coin.
Top Masternode Coins To Make Money With Masternodes
- Dash: 1,000 DASH
- ION: 20,000 ION
- PIVX: 10,000 PIVX
- Blocknet: 5,000 BLOCK
- Zcoin: 1,000 XZC
Note: If you loose your internet connection, it might cause to loss your coins. I recommended by high ratting VPS hosting packers so that you can save your coins as well as money. So it is pre condition before start to make money with Masternodes project.
How Masternodes is different From Normal Nodes?
Among the crypto expert there have debated about nodes and Masternodes. As nodes are complicated elements of blockchain infrastructure. Blockchain node assists to transfer data on the public ledger.
You can imagine blockchain as nodes. Nodes is combination of block data that is stored in a blockchain.
For instance, a node is like a device as computer, laptop or a server. It always interconnected in blockchain data and constantly updated by the network.
So basically, blockchain exists on nodes. On the other hand you can compare with a full node is a device. Moreover, it contains a full copy of the transaction.
On the Proof of work process miner need to run a full node to validate new block. Without a full node there have limitation to validated new block on the network. That’s why to complete the mining process miner need a full node.
In a word A full node is compared with a full blockchain history of a computer. Sp make money with Masternodes you should have little knowledge about it.
How To Choose Right Coins For Masternodes?
In this section I am going to exploring and research how to choice right coin for Masternode. Here you able to know which coin should you invest. Below is the recommendation. So, to make money with Masternodes it is an importance step.
- You need some trusted and real-able source about Masternode. Masternodes.online is one of the great source for it. The first things you need to do check the coin volumes. It is assisting to sell your coin that you have received every day, week or even monthly as your payment. Moreover, high volume transaction is great when you are selecting a coin for your Masternode.
- To make money with the Masternodes next thing is worthy of Masternode value. Here I mention one thing invest on crypto that you can afford. So don’t choose high worth coin that is not suite with you. Higher value means high risk. Personally $1000 is preferable for me and I take it stander to start project.
- In this step, I am just brainstorming coin ROI and I check how long will it take to get back my investment. So, here I calculate my ROI with Dash that is an ideal coin. New added coin is high price but be careful about crypto scamar. You can check it out newly added coin are pump and dump. High price fluctuation is noticeable.
- Moreover, 50% ROI coin need a lot of research. Somewhere I have seen there have no much more information that is confusing me.
- How many Masternode have there? The research that Nodes in a different location and developer are working on it. Check all the links and who are the behind the projects. Also check out their GitHub, website moreover comments and contributory amount etc.
How To Run a MasterNode?
Here I have giving very simple way to set up node to make money with Masternode. Shortly, I have go with the basic. If you are want to learn how to run a Masternode step by step than go through the link. Basically most of the Masternode setup is same. So, here is an example.
- First you need a cryptocurrency wallet to pay for coins and hosting package. And you will be need a relevant coin wallet wallet or core wallet. It is primary step to make money with Masternodes.
- Now you can send that coin to your privet coin wallet. At this state you need to run a hosting packaged with cloud or VPS hosting to run Masternodes.
- You can copy an entire relevant coin nodes to your new 24.7 hours server. You can take help with Xezz installer. For first time to install node type “y”. So , it just start installation. Also open SSH session and finished SSH configuration.
- Now you need to configure your cold wallet where you hold the coins to Masternode collateral. Here you receive your rewarded coin when you save “controller” as your hot wallet.
- You need to send exactly the number of coins required as per Masternode project. For example, Dash need 1000 coin.
- Now you need to Masternode configure fill. After all compilation now you are ready to make money with Masternodes.
Here is a details installation guide of Masternode setting here
Cheapest Masternode To Earn Passive Income
Finding Cheapest is not always good. On the other hand, high value coin Masternodes can not participate broadly. However, many cheapest coins have a great opportunity to make money with Masternodes project.
When you search for a cheaper coin be aware about scammers and frauds. So, always search cheapest and affordable coins. You can check with masternodes.pro that can assist you to research and find a cheapest coin to make money with Masternodes.
- Syndicate Masternode – $SYNX
- Social Send Masternode – $SEND
- SmartCash Masternode – $SMART
Some of the basics question about Masternodes
Is It Still Profitable to Run Masternodes?
I am not going to advise you invest to make money with Masternodes. I just tell you a little bit about is it still profitable? Honestly, the crypto markets is now bloods! Markets goes down in the bottom.
So, as per my perception it is an average good time to make money with Masternodes for a long view. Moreover, it is a way of earn passive income. And you can make money with Masternodes.
When you run a Masternodes you earn some coin as ROI. When the market down the chance or profit law and when the market goes higher the profit chance is high. So, if you hold your coin it will increase profits. Sometime it depends on several components.
- Price and profit understandable when it come on an reputable exchange.
- Payout level like hourly,daily, weekly or money.
- The cost of set up a Masternode project.
- Also, the cost of a coin in the long run.
How many Masternode can Be Run In One VPS?
In one VPS you can run several Masternode but it is risky. Every single Masternode need one IP address. You can not run same coin in one VPS. But, you can run multiple different in one VPS.
So, you can run more coin on your one VPS service. If you lost your server then you might lose all of your coins in one place. Sometime it is really difficult to setting up multiple Masternode in one place.
Finally, to make money with Masternodes is not so hard if you care about above component. Be sure you have the idea about the Masternods and I always say invest in crypto that you have afforded to lose. Because cryptocurrency markets is huge volatile and sometime market has no price prediction. So follow the step to make money with Masternodes.