Masternodes are nodes running the same wallet software on the same blockchain to provide extra services to the network. These services include instant transactions with SwiftX for example. For providing such services, you (the masternode owners) are also paid a certain portion of reward for each block. This can serve as a passive income for you over the lifetime of the masternode.
How to run a masternode?
In order to run a Novacash masternode, you must dedicate 10,000 NOVA coins to the network (however, these coins remain yours and never leave your possession). Think of it like pledging 10,000 NOVA coins to support the network. Those NOVA coins can be moved or spent at any time – doing so simply removes the masternode from service and makes it ineligible to receive rewards.
How much can I earn?
The rate of interest (ROI) of Novacash fluctuates with several variables dependent on the activity of nodes on the network. As such, no concrete number can be given with any degree of certainty, though earning around 4 % even on Novacash (traditionally the lowest-paying method of gaining interest) is a safe bet, with other methods a good deal higher.
What are the requirements to run a masternode?
The basic requirements are:
- 10,000 NOVA coins
- A main computer (your everyday computer) for the remote wallet
- Masternode Server or VPS (the computer that will be on 24/7)
- A unique IP address for EACH masternode
For security reasons, you’re gonna need a different IP for each masternode you plan to host)
How to setup a masternode?
Setting up your own Novacash masternode can be hard work if you do not have technical knowledge. Please make sure you understand what you want to accomplish and are about to do before carrying on. If you have ANY questions, please use our contact formular to get some support!
NOTE: Since Novacash is not listed at any exchange yet, we offer to buy 10,000 NOVA coins for 0.05 BTC. Please contact us if you're interested.