Many cryptocurrencies offer the concept of masternode. You should ask yourself what is it exactly? Basically, you receive tokens and provide an essential service to the network, you need to possess a certain amount of tokens in a wallet to implement a masternode; this can vary with each cryptocurrency. You can see it the same way when as when you receive interest in your bank account.
An excellent video that explains the concept in Youtube.
Cryptocurrency that offers masternode
I'm presenting you 3 cryptocurrency with the feature of masternode:
In Dash, the masternode is a server that performs certain tasks and you get a reward from it. The hardest part is you need to have 1,000 Dash and never touch them. As you can imagine this is a lot of money.
The masternode in this network perform two important duties on the network, private and instant transactions. The incentive to participate in this service is you can get 45% in return on every block.
I found an interesting link where you can see how much you can expect to make if you are the owner of one masternde: https://dash-news.de/dashtv/#value=1000
Right now, with the current price, it is almost impossible to have one masternode, the price is around 130,000 $ USD. If you do not possess this sum of money, you have alternate solution call masternode share. Basically, you buy a small portion of a masternode and you receive in return a proportion of what you have invested: http://dashmasternode.org/masternode-shares/
In Nem the term is call supernode, you need 3 millions of NEM to implement it, this is a huge amount to invest. With Nem, the incentive varies daily. The reward is base on the principle of proof of importance on the network.
You can start your journey and implement a supernode: https://blog.nem.io/supernodes/
On the PIVX infrastructure, you need 10,000 PIVX to implement a masternode. This is another costly one to invest, but less expensive than the two others.
Imagine to have control of your own bank and receive interest while doing nothing. Also, you have the privilege to secure the network and participate in the decisions.
You can have more information on the PIVX masternote here: https://pivxmasternode.org/
The list of coin that offers this service
Recently, many unknown cryptocurrencies start to implement the masternode feature on their network. Furthermore, we tend to see a gold rush trend and many investors are looking for the next masternode that will hit the moon. As you may know, where you can make money, people will rush into it.
I find a good blog post on Steemit where you can have much more information. I invite you to check it and do your own research. This is a good opportunity at the moment.
Here is a huge list of masternode, on the post you can see how much tokens you need. Also, you can see the price you need to pay to run one.
The advantages of using a masternode
When you implement a masternode, you offer a great benefit to the network and this is the value you receive in return:
- You create a passive income and help to support the network.
- When the tokens increase in value, your initial investment grow.
- Provide an essential and healthy service to the network.
- The service benefits the community who use it.
The risk involved
Noting in life is guaranteed and you need to be aware of the risks involved. The risks you can have with a masternode are the following:
- When the tokens decrease in value, the ROI diminish also.
- The masternode could be a scam, and you are at risk of losing your money.
- You can spend a huge amount of money without any guarantee to make the return expected.
Right now, masternode is a hot trend in the crypto world, you have the chance to build your income machine. As you can see, this is a good opportunity to have a passive income doing almost nothing.
The initial investment can be very costly in the beginning. Maybe you can find a new cryptocurrency where the entry is less than the established ones.
Are you going to invest in a masternode?