Part 1 - A new way to generate passive income
Part 2 - What is a Masternode?
Part 3 - Are you an ideal Masternode operator?
Part 4 - Finding the Perfect Masternode Coin
Part 5 - How to Buy Masternode Coins
Part 6 - Masternode Setup 101
Now that you are sold on the idea of getting a passive income from some high risk/reward investments in masternodes, and you did your research on which ones to buy - how do you do it?
Before I go into how to pull the trigger, I should warn you to read the next section on how to setup a Masternode. Make sure you are willing to do all the steps (or hire someone that will).
The vast majority of Masternode coins are so new, your buying options are limited. They will be listed on exchanges that have little or no prerequisites on daily volume and no listing fees. The most popular right now is the decentralized exchange called Cryptobridge. At first it will be a little daunting to use. But I found that I now prefer it over its centralized peers. My word of caution as always, is make some small deposits, trades, and withdrawals to get used to the the platform. Don’t make your Masternode purchase the first thing you do on the exchange.
There are two ways to buy a Masternode - quickly (at a premium to the current market price) or slowly over time (as more supply hits the market at the current price point).
To buy the nodes quickly, look through the sell orders to find the price that gives you enough coins to meet your collateral amount. Keep in mind that for most coins, doing so will force you to pay a higher price than the current displayed market price.
Notice the difference between the current price and how much you'd have to pay to get 5000 SPD.
To buy enough coins for your masternode around the market price you need to be patient. You should put limit buy orders for the amount of coins you need. Ideally, not just with one big order, but rather smaller orders at a tiered price structure.
Pro Tip: I also recommend lurking and posting on the community hangouts like Discord to see if anyone will be willing to sell you a masternode directly. If you do find some willing to sell you a node for a pre-negotiated price, always ensure to use a Escrow agent or make the trade on the exchange (assuming you want to do it at current market price).
Important: You always want to buy at least 1 more coin than the collateral amount so that you can pay for transaction fees to move your collateral from the exchange to your desktop wallet.