What is a Masternode?

What is a Masternode?

By Learn With Hatty | Beginning Crypto | 17 May 2021


I have wondered this for a long time. Every time I would hear this word the hair on the back of my neck would go up because I have been trying to figure out how to run a Masternode and the word just excites me for some reason.

So this is what I get when I search "What is a Masternode" on google.

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Sounds intriguing, doesn't it...

Every time I search, I end up finding things that are way beyond my computer skills.

Coinswitch had one of the best explanations and how-to's I have found so far.

So after reading this I am pumped. I am thinking "Man I bet I can run a Masternode. How hard could it be.". So I go to work and start looking up what I need and how to do it. This is when things get interesting.

My hopes and dreams are crushed when I do my very first search.

I wanted to run a Dash masternode because I like the Crypto and to be honest, it was the first on the list on Coinswitch ; ). I searched how to run a Masternode for Dash and this is what I came up with...

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So this makes Dash out of the picture. I knew it would be difficult but I did not know it would be as difficult as this. I am going to give it a try here soon but I wanted to see if any other Masternodes might be a little easier and cheaper. So I guess only the rich can run Masternodes because right now 1000 Dash is worth $277,000! So on to the next search!

The next Masternode I was interested in learning about and maybe running was Zcoin. I like what the project stands for and what it is about, so I started doing some research. This is what I found...

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This is what came up when I searched on Google. I thought maybe XZC is cheaper and I could afford to start a Masternode. 1000 XZC right now is worth around $4,900! This is starting to get frustrated.

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I would like to contribute but it is looking like I will not be able to. I do not have the computing power to mine, so I am looking at other ways to contribute and earn a little for the future. I believe in Crypto and want to help it grow. So on to the last search. I am doing this research while I write this so you are pretty much learning with me.

So I checked multiple other ones and all about the same thing. So running a Masternode pretty much means you have to have a good amount of whatever Crypto to run their masternode. I am still in the process of learning so if anyone has any information about any easier ways or other ways I can get into the world of Crypto.

I had a good time trying to get my foot farther into Crypto. Learning about Crypto is never-ending because Crypto is an ever-evolving world that is still in its infant years. I love the idea of Crypto, and I really do not care if I make any money but if I am part of a community that is trying to change the way our money system works I am all for it.

Like I said earlier in this post, if you know anything more please leave a comment and push me in the right direction.

Another promising project I have been looking into running a masternode that sounds like it could be somewhat easier than the other ones is NetBox.

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The only problem I have with this is the amount you need which is 10,000 NBX. This is in $ is over $1,000 right now. The staking is amazing, so I have been using that for now until I make a decision about running this masternode. I have a computer I can sit plugged in running 24/7 but I need to know the project is safe and willing to pay something worth the effort.

I hope you have enjoyed my article. I am still in the learning process and would love to hear everyone's feedback about running a masternode and any good and bad stories you have. I have been interested in this for a long time!

I hope you have an amazing day and thanks for taking the time to read my article!

Lead image by https://cointradecx.blog/bitcoin/masternode-entenda-o-que-significa-e-seu-potencial-de-investimento/

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Learn With Hatty
Learn With Hatty

I spend my time researching the intersection of emerging tech and global change. As automation accelerates, I believe blockchain will provide the essential currency for our future digital world.


Beginning Crypto
Beginning Crypto

This Blog is all about Cryptocurrency and shows the average person some of the best ways to start earning Crypto without investing anything but time. I hope everyone enjoys my articles and I will do my best to post at least one article a week.

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