One of the interesting aspects of the crypto-token game is the number of ways that coins can be obtained. Setting up and running a Masternode is a great way to create a regular stream of earnings without having to dedicate computer resources or paying the substantial electric bills these devices require.
What is a Masternode
A Masternode is a server used as part of the decentralized infrastructure of a cryptocurrency. A Masternode must be online 24/7/365. As a reward for supporting the infrastructure of a particular currency, a reward is paid on a recurring basis.
What you need to run a Masternode
To run a Masternode you need a computer that is always on, a (relatively) static IP address, and the ability to follow instructions. There are several companies that will host your Masternode for you for a nominal fee if you don’t want to go through the process of setting one up on your own.
How to create a Masternode
To create your own Masternode you will need to follow these basic steps:
- Choose a Masternode coin and find the specific instructions
- Download and setup a wallet for your chose coin
- Mine or purchase the number of required coins and put them in your wallet
- Download and setup the masternode software
- Enable your masternode
Masternode.pro is a great resource for learning about crypto coins that support masternodes.