"If you don't find a way to make money while you sleep, you work until you die". This quote said by one of the richest and famously known investors Warren Buffet might sound off putting, but the few simple words smart passive income can give you some insight into what it means.
Smart passive income means that you are earning while having the freedom to do other things like working on other sources of income while not worry about actively having to do any traditional work for that money. It is a bonus to your main or other main sources of income because of that fact and can be really helpful if you are lucky enough to come across it.
Several sources of income makes for a more secure balance of money. Finding passive income can be done through investing, or other business ventures. If you have never heard of passive income before, that is the simple explanation for it. Usually to acquire smart passive income you first have to put up some money for it to be worth your while. Think of it as the gas that will propel you into the direction you want to go. Here I will show you how to earn cryptocurrency passively by running a masternode on GIN platform.
Note : Running a masternode is not only possible through GIN platform, if you would like to run your own masternode without having to use a 3rd party service, go here to learn more about that option.
What are masternodes?
A lot of the time you will hear "the only way people can make a lot of money with crypto coins is to become a day trader, or invest and hodl".
Well this is not true, people can make a decent amount by learning and utiilizing masternodes but first you have to understand the concept.
To understand masternodes I am going to make the easiest reference to bitcoin, which has masternodes. A Bitcoin masternode or full node is a computer that keeps a full copy of the blockchain running at all times.
Bitcoin's masternode is not the same as Ethereum's or Litecoin's for example, there are some differences in function. For example some nodes have functions for privacy, and others for voting, this willl all be recorded in the blockchain you own if your running a masternode.
Masternodes are not alone, they are always in connection with other nodes making a decentralized network.
People often don't run masternodes because they are interested in seeing the blockchain run first hand, or unless you want to then it's up to you. But people run masternodes for the profit, so how can you run a masternode and what do you need?
The good news is that YES masternodes can be run by anyone, meaning you don't have to be chosen. There are costs for running a masternode however to make sure that it isn't disrupted by anyone wil ill intent. Usually you will need to hold a certain amount of cryptocurrency in your wallet to be able to run a masternode.
It makes sense, so that way if the hacker or person running the masternode wanted to do something harmful, they would only be devaluating their own stake in the project because oh I forgot to mention, running a masternode requires you holding a lot of that particular cryptocurrency. So that malicious attacker would think twice before attacking the network.
Getting into the details this list is of the things required to run a masternode:
A minimum amount of cryptocurrency. (For example Ethereum requires you hold at least 30 ETH before you can run a masternode.)
A server so that you can host your wallet with the minimum cryptocurrency required 24/7.
A dedicated IP address that is stable for the server.
Enough storage in order to save the entire blockhain.
The requirements do not change much from one coins masternode to another.
Now you are aware of the details and workings of masternodes, so you are probably wondering about the benefits like I said most do not run a masternode for the tech but for the profit.
Pretty much as someone who invested in running a cryptocurrency masternode, you are going to be paid in a timely order in cryptocurrency. Think of it as a paycheck you receive for keeping a blockchain in order. Or you can think of it as interest on the minimum amount required to run the masternode, sort of like a staking wallet.
It is a passive income that people use, who are somewhat tech savvy. There is no specific amount you'll receive as different Masternodes are unique when it comes to rewards. I think it is a smart idea to look into running a masternode if you are able to and know about cryptocurrency already.
Always calculate the ROI and don't invest in a coin just to be able to run a masternode, do it as a side stream of income for something you are already heavliy invested in.
In the current market of cryptocurrencies that allow you to run a masternode not all are good picks. Some will not pay you the amount you expected, and others are going to be bad investments in the first place. This is why it is up to you to do your own research and try to make the best possible decsion.
What is GINcoin?
GINcoin and GIN platform allow you to run your own masternode without having a dedicated server, computer, vps, or even storage to keep track of the full blockchain. All you need is an account and the required amount of crypto to pay for the initial startup. For example in order to run a DASH masternode you would need to have at least 1000 DASH. That would cost this much at the time of writing this: $185,774.45. Of course that is out of a lot of peoples budgets, there are many cheaper and still profitable options. For example GINcoin masternodes cost this much at the time of writing: $2,611.79. Each mastenode has a price but also a set amount that it will repay the owner (you) which is going to vary in USD amount based on the price of the cryptocurrency.
To start running your own masternode and collecting weekly passive income follow these instructions.
1.
Visit GINcoin website here
2.
Read through the website and platform to learn how it works
3.
Click on GIN platform.
4.
Find a cryptocurrency you want to run a masternode for. Look at annual ROI, price, and required amount.
5.
Buying the required amount from exchanges.6.
Buy the masternode from GINcoin platform, and collect bi-weekly crypto payments.
GINcoin claims to be the turnkey of masternodes, and you can see why that is because they make it easy for anyone to run a masternode. Masternodes are a good hustle for anyone who wants to earn passive income. Now with GINcoin all you need is the startup money to start earning real passive income from masternodes. Good luck to all of you who try this, and if I am the one who introduced this to you and you find it helpful, don't forget to support me by doing the following.
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