Lecture 7.0.0. Practical Session on Masternodes
There are three ways you can get involved in masternodes:
(1). Set up a masternode by yourself
(2). Use the services of Masternode Hosting Agents
(3). Team up with someone who has a masternode
Setting Up a Masternode by Yourself
You can set up a masternode and enjoy the benefits mentioned above. However, setting up a masternode requires some technical details. Such details vary from one crypto to another.
The following are the three general principles behind setting up a masternode:
(1). Select the crypto you want to invest in as a masternode
(2). Setting up your Virtual Private Server (VPS). A VPS is a virtual machine sold as a service by an Internet hosting service.
(3). Send in your collateral
Each of the last two principles require several technical steps that vary from one crypto to another. You can request for a step-by-step guide from the company that developed the crypto you choose to host a masternode.
Use the Services of Masternode Hosting Agent
The technicality involved in the setting-up process of a masternode often discourages many people.
In the Crypto Market, one way you can avoid these technical details of masternode set-up is to use the services of Masternode Hosting Agents.
The two popular ones in the Crypto Market are:
• ZCore (website: central.zcore.cash/mn-coins)
• Clicknode (website: clicknode.io).
These masternode hosting agents will effectively host and even run your masternodes, handling all the technical details. However, you will need to pay for their charges.
Team Up for Masternode
Another way you can avoid the technical details of setting up a masternode is to team up with someone who already has a masternode, and then share the profits with the person. Of course, profit sharing will be based on your percentage of contribution to the project.