Considering the fact that in the world of Cryptocurrency it seems to be a general misconception that only the top-notch traders who can analyze charts and market trends can fill their bags but this is totally wrong!
But as a number of Cryptocurrency enthusiasts might have already figured out by now there are so many ways to accumulate profit and make money from the market even in a bearish market and the best part of it is that you get to have full control of how you manage your risk. One of these many ways is through owning a masternode. So what exactly are Masternodes?
A node can simply be understood as a computer that plays a part in ensuring the integrity of a coin network. The crypto space is not only decentralized but also distributed; therefore, it functions by several people running nodes from different parts of the world. That said, you require a full node to host a copy of the Blockchain (coin’s ledger) and thus support the network.
A Masternode is a crypto full node (computer wallet) that supports the network by hosting an entire copy of the coin’s ledger in real time. In return, the Masternode will receive crypto coins as a reward. It is a great alternative to mining.
To understand this more, Masternodes are classified under the Proof of Stake (POS) type of Blockchain as compared to the Proof of Works (POW) Blockchain used by miners.
The proof of works systems involves owning rigs, high powered computers processing data at very great speeds but this is costly and consumes a great amount of energy. As such, Masternodes poses the best alternative.
Requirements for Having a Masternode
To get started, You would need to get a reasonable quantity of the coin says 1010 from a reliable Exchange such as Coinbase, purchase a little extra to cover transaction fees. Download and install a desktop wallet on the PC and synchronize it with the blockchain platform and mail the coins to the wallet. Setup an address in your node wallet and remit the coins to your node address.
This step allows you to obtain private keys and more information required for the setup procedure.
Now, Set-up your node. You may use a personal server at your home or office, as well as get services from a virtual private server (VPS) from data-centers. Upon building, installing and configuring nodes to your wallets, start your server. Start of the nodes daemon to allow synchronization with the Blockchain.
Now Set-up your Masternode on the desktop wallet and you can start it up. Your running node will now start earning you the rewards.
Dash and Bitcoin were the first to adopt the Masternode model but owning a Dash Masternode can be quite costly that’s why I bring you three low cap Masternode coins;
SCRIV COIN (SCRIV)
SCRIV coin utilizes groundbreaking blockchain technology to revolutionize data verification, authorship, ownership, and integrity. SCRIV coin has large market potential and currently has a low market cap of $258623 with a price of $0.004993 per coin. There are currently about 51.8 million SCRIV coins in supply and the minimum number of coins required for Masternode is 100000 SCRIV.
There are 199 active Masternodes and the return on investment ROI is about 43.5%/839 days. The Masternode is worth $499.3. Visit scriv.network for more information.
APOLLON COIN (XAP)
Apollon coin is described as the world’s most private digital currency with more than 21,165,096,531 XAP in total supply and a market CAP of $224,802. Apollo coin is currently priced at $0.0017. The Masternode requires 25000 XAP to set up. There are currently 2807 active Masternodes.
The Return on Investment is 68.38%/534 days and Apollo coin Masternode is worth $39.15. Visit apollon.one for more information
MANO COIN (MANO)
Mano is a platform that lets users host or takes part in shared Masternodes. At current prices. MANO has a current Market CAP of $30,981. 1000 MANO is needed to get started and there are about 383 active Masternodes. This Masternode yields 253.50%/144 days and the with a worth of $15.54. The coin sells for %0.015540.