In the cryptosphere, they say only those who can finely analyze the market or are day traders can make money. But that’s not true!! There are several ways you can make profits and earn a handsome amount of money. And the best thing is that you can choose the best way that works for you and can accordingly adjust your reward/risk ratio. One such way of earning in cryptosphere is by running a masternode.
Warren Buffet once said, “If you don’t find a way to make money while you sleep, you will work until you die.” And whether you love that quote or hate it, when it comes to the cryptocurrency space, one way you can readily make passive income “while you sleep” is through hosting a masternode.
The cryptocurrency market has reached a colossal exposure. However, its volatility has had many investors rethinking their options. Many crypto fanatics believe that the next big investment is the masternode coins, which is a different level of mining that is more likely to bring in passive income.
WHAT IS MASTERNODE?
Also known as bonded validator systems, masternode is a series of servers that underpin a blockchain’s network. Masternode is responsible for enabling specific services that miners under proof of work cannot accomplish.
Simply put, a masternode is a server on a decentralized network. It is utilized to complete unique functions in ways ordinary nodes can’t. It can be used for features like direct send / instant transactions or private transactions. It is also a cryptocurrency full node or computer wallet that keeps the full copy of the blockchain in real-time, just like your have Bitcoin full nodes and is always up & running.
Much like proof of stake, masternodes rely on staking a certain amount of a given currency within the currency’s network. To establish a masternode, you’d first need to buy a substantial amount of the currency in question. A masternode for Dash, for example, requires 1,000 DASH, so you’d need to drop a cool $311,000—that’s enough for three big houses in Indonesia. ☺️☺️
With that being said, running a masternode is PoS-like, in the sense that you generate passive income through a masternode just by holding your coins, similar to how stakers earn in PoS systems. So it’s something to consider: you can make passive income with a masternode just like you could through a PoS cryptocurrency, but you don’t need PoS cryptos specifically to run masternodes.
A masternode is a full node or a cryptocurrency wallet that is fully synced on the blockchain of whatever coin you choose with MN function availability and is always running 24/7.
Masternodes are considerably different in their functionality than normal nodes in a few ways. They are different because they perform several other functions apart from just keeping the full blockchain and relaying blocks/transactions as a full node does in Bitcoin/Litecoin.
Some of the special functions that these nodes perform are:
- Increasing privacy of transactions
- Doing instant transactions
- Participating in governance and voting
- Enable budgeting and treasury system in cryptos
Masternodes are very useful for crypto investors because of running a masternode you are incentivized. Consider it just like earning a monthly or weekly interest on your crypto holdings.
Different cryptocurrencies have different incentive models through which an MN operator can earn a decently monthly or weekly income. I call it smart passive income. If you are invested in a cryptocurrency that allows you to run a masternode, you should definitely explore that option of earning.
Another thing to understand here is that you should choose the right currency for investment if you are solely investing for running a masternode. You should compare the percentage yield against the investment. In short, you should smartly calculate your ROI. As of now, there are numerous cryptocurrencies out there in the market that allow you to run a masternode but not all of them are worth running because of meager incentives they provide.
NUKLEUS: CRYPTO MASTERNODE
If you want to run your own masternode, you’ll need to start getting some familiarity with Linux command line. Alternatively, if you’re happy to pay for the services of experts, you can always find a reliable third-party server provider and hire their services.
Depending on which company you go to and what package you choose, your server hosting costs should be somewhere into the dozens of dollars. You’ll need to do some research and see what route or what package is right for you, but rest assured you have multiple options. Whittle down your choices to the providers that seem most reputable and worthy of their price.
In fact, 98.5% of crypto investors have no idea how to setup, maintain and run a masternode. Different coins have different technical requirements to run their masternodes and, let’s be honest, most investors don’t want to learn complicated linux commands or how have time to deal with Ubuntu VPS' security updates.
This is where the Nukleus comes into play. Nukleus has helped to considerably simplify the process of setting up and operating a masternode. Through providing an easy to use GUI, this platform has eliminated the requirement for having high technical skills. Furthermore, since Nukleus is built on a unique flexible infrastructure along with a scalable distributed blockchain network, you can expect high levels of reliability and performance.
The other way in which Nukleus intends to make masternodes more tenable for investors is by providing the cheapest hosting available. The pricing is going to be set at a very low flat rate and will never be charged based on your masternode profits. The cheap masternode hosting is made possible by the economies of scale as well as Nukleus’ large operating stake within the masternode pools.
The unique feature of Nukleas, in comparison to others, Nukleas is providing masternode pools where users can pool together their masternode coins with other crypto users. Users doesn't have to hold a certain amount of coins to be used as collateral to run a masternode server. For example, Dash users need at least 1,000 coins at a rate of roughly $1,500 each. Nukleus successfully tackles this issue.
Here are the Nukleus Platform most important services that are likely to increase confidence in users looking into masternodes altogether:
- One-Click Masternodes: Nukleus flexible masternode hosting infrastructure makes launching a masternode easy enough for anyone.
- Low-Cost Masternode Hosting: Low fixed-fee masternode hosting. Never pay a % of your masternode proceeds.
- Masternode Pools: Users can pool their masternode coin holdings together. Anyone can own a piece of a masternode regardless of how many coins they own.
- Support for Many Coins: Hosting support from the most established coins to the new up-and-coming coins. With Nukleus everyone can earn from running a masternode whether they have 1 coin or 10,000.
For more information about Nukleus, feel free to visit Nukleus important links below:
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