Discovering StakeCube, one stop MasterNode platform
Hi again and thanks for reading this second post of Masternode Diary. Lets start where I left on my introduction. So here I am depositing first 0.1 BTC in StakeCube. Before that, I have been looking around. First impression, the site looks nice, although there is a lot of information and I felt a bit overwhelmed. I scrolled down the menu, there are plenty of features. Wallet, Exchange, Shared Masternode, Community, StakeCube Coin, Gameplace and two new features, NodeCube and MineCube. A lot to discover...
Before getting into more details, let’s meet the team and the community. Always interesting before investing your hardly earned BTC. When I discovered SC they had over 30K users, they now have 40K+. I first took a look on Discord and there I found a great and involved community. Helpful people and active Developer and Mods constantly answering questions. Thank you Oleg, Daryl, Mike, Xardas and all the other users!
Back to the platform, and their coin, SCC. It actually is a quite useful coin. Even more lately with the incorporation of MineCube and NodeCube. When I started on SC you could use there native coin to play games and vote for favorite projects, and grants plenty of advantage to masternode hosts, bonus interest on selected coins, Stake-Fee reduction, exchange-Fee reduction and higher Affiliate-Rate bonus. And now, the coin is also needed to pay masternode hosting and buy hash power
A nice on-ramp to StakeCube is the nice interest rate on non masternode coins, Bitcoin, Litecoin, Doge and also DASH. Upfront, 7.5% interest rate which is nice. High enough, but not too much to generate suspicion… If you manage to gather enough coins to run a masternode, you get an extra 0.001% daily, for each SCC MN hosted, up to 10. Interest paid daily, allowing you to compound interest better then anywhere else! GREAT! The site would worth it just for that, but there is more, much more…
The main purpose of StakeCube is their Staking Pool and Shared MasterNodes. I didn’t understood everything at first, although the site is really user friendly. The amount of data is a bit confusing at the beginning mostly if you are new to masternodes! So let me try to make it easy.
First step, after depositing BTC, is to go to the exchange to get MN coins. I did started with SCC which sounded like the best/logical choice, for all the different uses of the coin and because I was starting to really believe in this project. When you buy your first coins, they directly go to your wallet, and instantly start staking in the pool! As easy as that. So second step is to go for the shared MN slots. But good luck for SCC slot (after waiting several days no slots were freed!) So bought a second MN coin ESBC, nice and solid E-Sport, betting project. And KYDC (I liked the idea of verifying developers in the crypto space!) Many MNs worth too much for small investors to afford full ones, so SC offer shares of complete masternodes. They divide a MN in 100 shares (ex. SCC collateral is 1000 SCC, which are splitted into 100 shares of 10 SCC) and divide the reward equally between all shares. Nice and easy!
After a few weeks, I had SCC staking, ESBC and KYDC coins gaining MN reward and staking and my remaining BTC gaining interest! Good enough! My first impression couldn’t be better!! Or so I thought
So one day, what doesn’t happen… I wake up one morning and the site is down… This Warning page (again!), site down and price crashing on other exchanges… Couldn’t be!! I felt in a SCAM, for a second time. I was reviving nightmares, this can’t be true!!! They looked so legit! That’s when I go to Discord, see if anybody has an idea of whats happening, and also for some comfort! And what did I found? A perfectly calm community, confident in the team and answering all the newbies doubts. I was told to keep calm, that everything was taking care of. The team was working on the issues and informing directly the community about the steps they were taking to solve them! I won’t get into details since I don’t really understand what they did… But the strength of the community and transparency of the team made me believe more then ever. So I bought the dip!
The price obviously dropped a lot after this incident and I could gather the missing coins to reach the MN collateral, which I deployed on Flits since it is near impossible to get a free slot on shared masternode. I’ll talk about Flits on an other post, great MN Hosting App where you own your private keys!
This leads me to the two new features on StakeCube which granted more use to SCC and pumped the price greatly!. First, as a surprise while we were all waiting for the launch of NodeCube, Oleg announced the they had teamed with Meatec Mining to offer a shared mining pool. OK I already hear you, mining pool, noooo!!! I never got involved in mining pools before, since I was told to be very careful. If they weren’t scams, the weren't profitable Although the idea of mining BTC still and will always attract me! (I have to confess I did bought a Coinmine One device last summer, which wasn’t my best move…) Anyways, Minecube is not something I was expecting of this platform, nor was I looking for that, but there it is, and I can now buy GigaHash with my SCC MN reward. They are also very transparent since you have access to the BTC mining pool address. So for 4$ worth of SCC you get 100 GHash, forever, nice!
Then, last but none the least, NodeCube!! Well expected feature which is being introduced to the platform these days. Up to now, Stakecube only offered the option of shared masternode, which is a great option, but now investor have the option of setting their own complete masternodes. For now the only option on the platform is the Cold Node, it requires some technical knowledge, which I did acquired during my journey, but don’t worry it is all well explained. Briefly, you need to store your collateral on your own wallet, and Stakecube host your MN for only 1,50$ a month, which is a nice price, paid in SCC. The Hot node is on beta testing right now and should be released soon. (I’ll probably post my experience with Nodecube then)
The site also offer a faucet with up to 20 different coins to claim. Not something I was looking for neither, I’ve been using faucets before, lot of time for not that much reward. But there it is and I can’t resist claiming once every 24h.
Overall I have to say that my experience on Stakecube is very positive, nearly addictive… While I’m writing this, the page is down for maintenance. And I feel like something is missing… So I’m on discord chatting with the community, counting the minutes till site goes online again and meanwhile, using another great platform, Midas Investment. Which will be the subject of my next post.
(BTW. Site is online again! Everything OK!)
***Remember: This is mainly a diary, a walk through my adventure in crypto and masternode space. No financial advice, just want to share what I learned, if it can help. Neither do I pretend to be an expert, do your our research and enjoy passive income!!