What is The Best Budget Masternode Coin?
Are you looking for a way to make more money with crypto? If so, investing in masternode coins can be a great option. Not only do masternode coins offer higher yields than standard cryptocurrency,
If you’re looking to diversify your crypto portfolio and increase your chances of making profits, a masternode may be just what you need. After all, there are few better ways to earn money through cryptocurrency than masternodes. Not only do they offer passive income opportunities, but the value of coins increases over time.
But setting up a masternode isn’t cheap – or so you thought. Believe it or not, there are some coins out there that cost less and offer a good return on investment (ROI). We’re talking about low cost masternode coins! In this article, we’ll explore the best budget masternode coins to invest in and how to set up a masternode without breaking the bank. Ready? Let’s dive in!
What Are Masternode Cryptocurrencies?
So what are masternode cryptocurrencies? In layman’s terms, they are digital currencies that use a blockchain to keep track of transactions. Every time you send and receive funds, the blockchain records and verifies it. This makes it extremely secure and efficient.
The most important feature of masternodes is that they allow you to earn passive income simply by holding coins in your wallet and running a node (also known as a server) on your computer or vps. With every transaction block processed on the network, participants holding masternode coins get rewarded with additional crypto. This makes it easy to generate income without having to do any extra work!
The Benefits of Earning Crypto Through Masternode
Running a masternode can be a great way to earn some extra passive income in crypto. Unlike mining, masternodes don’t require expensive hardware, so they’re much more cost effective. Masternodes are also incredibly secure and don’t require any special computer knowledge or technical skill.
The best known masternode coins are Dash, Helium, and PIVX. However, these coins require high collateral and can be too expensive for casual investors or those just getting started with crypto investing. But that’s not to say there aren’t any good options—did you know there are coins you can practice using low cost masternodes with?
A great example is a Galleoncoin (GALE) masternode. It’s inexpensive to set up, comes with low risk, and offers higher rewards than other traditional methods of earning crypto. Plus, it’s easy to get involved—all you need is a wallet full of coins and a wallet address for your node to get started. So if you want to try out using budget masternodes without breaking the bank then this could be the option for you.
The Best Known Masternode Coins and Their Costs
Dash is a well-known masternode coin that requires collateral of 1000 coins to set up a node. That equates to an investment worth around $50,000 – Who takes out a second mortgage just for a masternode?
PIVX is a popular masternode coin that requires collateral worth 10,000 PIVX tokens (around $7000). But how many people can afford to drop the price of a used car on a masternode?
Firocoin (Formerly Zcoin)
Firocoin offers one of the lower entry points when it comes to setting up a masternode – you just need 100 Firocoin (around $160). However, it’s worth noting that you will still need reliable hardware and software to run the node.
Galleoncoin , a new masternode coin is a low-cost entry point for anyone wanting to get into operating a masternode. It is a Proof-of-work coin, with 20% of the block rewards going to masternode owners. The circulating supply at time of writing is 1.1 billion, with 9 billion more to be minted before the Proof-of Work phase ends in 8 years time, permantly moving to Proof-of-Stake, when block rewards drop to just 5 per block for a yearly supply of 2.5 million coins per year. The 1st rewards halving is still a couple of years away, so now is the best time to add some of this sleeper to your portfolio.
It requires only 200,000 Galleoncoin as masternode collateral – equivalent to just over $0.30 – at time of writing. So, assuming you have A LOT of VPS’s (or enough free time on your hands to set up a Google cloud free trial every 3 months), you could have 200 GALE masternodes for the cost of 1 Firocoin node. A GALE masternode can be setup in a few minutes. It has a small but active community on Discord and telegram. It’s perfect if you want to test out how well you could run a node without having too much invested in it.
Practice Masternode Coins: Low Risk and Inexpensive to Set Up
Galleoncoin offers a low-risk way to get into masternoding, with a setup cost that’s lower than most other masternode coins. Plus, the running costs remain low since the node is compact and efficient.
Here’s what you need to set up your Galleoncoin Masternode:
- 200000 GALE coins in your Galleoncoin Core wallet
- A reliable VPS hosting service that supports Linux operating systems like Ubuntu 18.04 and above
- A static IP address (this is usually provided by the VPS)
- Enough bandwidth and storage space for the server (as little as 512MB RAM can work)
- A few minutes of your time to configure everything correctly.
By investing in Galleoncoins, you can get started with masternoding without having to spend too much money up front. This makes it great for people who don’t have large cryptocurrency reserves but still want the potential rewards of running their own masternode.
Crypto masternodes provide a great way to increase your profits from cryptocurrency investments. They offer passive income and long-term capital gains over transactions with traditional coins. While they can be expensive to set up and maintain, there are many budget masternode coins, such as Galleoncoin, which are cheaper and less risky.
You can also use those coins as a way to practice using masternodes before diving into larger coins. Doing so can help you understand the process, manage the associated technical aspects, and get a handle on using masternodes with more expensive coins. With the right knowledge, you can make smart investments that can lead to greater rewards.