That’s right, it’s time for yet another installment in this video series covering ways to earn a passive income with crypto.
Today it’s all about masternodes.
If you need a refresher for what a masternode is, I want to encourage you to check out this link.
Now that we’re all on the same page let’s take a look at some of the better known coins that offer masternodes.
Perhaps the best known is Dash, this one requires 1000 dash coins, at this point it’ll cost you about $1.1 million.
Other relatively better known and slightly less expensive options include PIVX, CROWN, Iconomi and Transfer Coin.
Not all masternodes are created the same, they differ in the percentage for the payouts and how often the payouts occur. Dash pays you once a week, Pivx pays you every day, and CROWN coin pays you multiple times a day for example.
Here are some things you’ll need to consider before deciding if a masternode will work for you and which one to choose:
- Cost of the coin
- How many coins are required to hold
- Cost to host the masternode
- Frequency of the Payouts
It’s important to note that although masternodes are a great way to earn a passive income with crypto, they do require some work.
You’ll need to purchase the minimum amount of coins, download their official wallet and store them there.
This is the point you will need to reference the maternode guide for that particular coin. Each masternode is unique and the same can be said for their setup. I’ll provide links down below for the more well known masternodes but for the lesser known and more affordable options I’m going to have to let you do some digging of your own to discover how to set up your masternode.
You might not need to rely on your own constantly running server to have an active masternode. There might options to hire others to host your masternode, depending on the coin.
These prices do vary so be sure to calculate these costs when considering your Return on Investment.
Here are two great websites to check out that show you some details about a whole bunch of masternode options.
one shows you the cost in regards to purely just how many coins you’d need to purchase and hold in order to qualify for a masternode. These differ greatly, from millions of dollars to just above the $100 mark.
This other site shows you the ROI or Return on Investment that each masternode will give you. Keep in mind that these numbers are current and are no guarantee that these returns will continue long term.
Here’s what I think
Take your time investigating these masternode options and apply the same critiques that I’ve demonstrated in my past video here. Keep in mind that masternodes are often big investments that have the potential for amazing returns. It’s worth your time and money to do your own research and decide which coin is worthy of your investment.