These days interest on a savings account in the EU is around zero percent. Sometimes it is even lower , some people even have to pay the bank for having savings. Because of this many people are looking for alternative investments.
An interesting alternative investment is a masternode. As you are visiting a website about cryptocurrency , i expect you know already something about coins, tokens , mining, staking and maybe about masternodes as well.
What is a masternode ?
The most simplistic definition of a masternode says it is a running wallet. But to give the wallet some autority on the blockchain, you need to own coins on that chain. This is what we call collateral. The number of coins needed to become masternode is different on each blockchain.
What coin to choose to run a node
As you know many projects in crypto currency are created, sold on an exchange and the project ends. To avoid entering one of these projects only select project that run more then 3 years.
The exchange where the coin is traded is very relevant. There are many websites these days offering exchange services. But only a few of then have enough traders to be sure you can trade your earnings without a problem. For me there are only two exchanges good enough. Bittrex and Binance. There are more exchanges offering good service and volume, but i can not be customer everywhere. I bet you don’t want to provide KYC information and copies of your identity to every exchange around either .
From the two exchanges above i have choosen Bittrex. You may ask why. It is because i live in the European Union, and Bittrex offers direct euro transfers between the exchange and my bank account.
Now you have two parameters that will reduce the amount of coins to choose from to less then 10. If you search on the special websites about masternodes you will find 100’s of coins build with masternodes integrated. This is a good reduction. But there is one more thing. The return in coins you make on a masternode. When a masternode generates more then 50% new coins in a year , i think it is to high . As the environnment of the coin has to grow at least that fast to keep the value.
The coins that meet the requirements above are : Dash , PivX , Crown and Monetary Unit. The projects run for a longer time, they have a listing at Bittrex with enough trade volume. And the return in coins is not to high.
Running a masternode costs you 1 to 3 euro a month for the VPS.
Small review on Bittrex fiat services
When i found out i could have a balance in Euros. And with my full verified account i had to send a message with some bank details to their support staff. Within a few hours i got the message it was accepted and when looking at the withdraw option on my Euro balance , it showed last few digits of my bank account as only destination to withdraw. I made a withdraw and also a deposit nearly the same time. Next morning I found the transaction completed. So I don’t need any other service then Bittrex to trade my cryptocoins and take out profits anymore.