Making money with Master Nodes? First the logistics, a basic beginners Guide.

in #shared5 years ago (edited)

It is true there are high returns with master node investing. This guide is about how to invest in a master node or shared master node service, this is not about setting a master node up and running it yourself. It also does not introduce a decision method on WHAT to invest in, only HOW to.

You should think in the end in the crypto world you want to convert your Bitcoin and crypto currency to US Dollars and put it in your bank account at some time.

  1. So step one is to open an account with an exchange (like a brokerage account) to do the conversions and so you can send it to your bank account. A good exchange is Binance, a link to their page is https://www.binance.com/?ref=36726624 Just follow the directions on their page. There are others that also can be used.

  2. Second step is then to open an account with a master node/shared master node service. As of this writing probably one of the best is Crypto Hash Tank and another good choice is Midas.
    CHT: https://www.cryptohashtank.com/QJOX
    Not all of the master nodes you want may be listed on the first website so you may have to look at a second choice. Many coins also do not have master nodes.

  3. So now what you do is deposit US Dollars (or whatever local currency) from your bank into your exchange account to fund it. Then you either buy the coin you are interested in directly or you have to first buy Bitcoin and then buy the coin with Bitcoin.

  4. Around this stage of the process you must know that each coin has a wallet that can store your coins. So you should download the wallet from the coin's website. Eventually before you make a withdrawal somewhere your personal incoming address must be entered.

  5. The next step is to transfer the coin from the exchange to the master node service, follow the directions on their website.

  6. It is also important to remember that you must learn/know about keeping your coins secure at all times and how vulnerable you may be. Which this guideline doesn't go in to.

This guide is not comprehensive and does not go into the details. It should be used as a guideline. I have only included three referral links to exchanges/services. There are more out there but I opted for reputable ones that have less inherent risk than other choices.

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