Loads of Nodes But Little Utility

Every trader has a strategy for profiting through good times and lean. Some buy into ICOs and wait for the market to recover; some scalp profits where they can through day trading; and some set up masternodes. The scheme proved hugely successful, both as a means of governing the network, and as an earner for individuals running a node, who were being handsomely compensated by the time the crypto market mooned in 2017. The success of the scheme, which made early adopters of masternode system very rich, was soon copied by countless other coins. Most of the copycats that have sprung up since serve no purpose other than to enrich their early adopters and stakers.

Is there a trend change?

Rest assured, there will still be plenty of dedicated users willing to stick to one coin and support its ecosystem through the launch of a masternode. However, how popular and beneficial is it? Well, I guess it’s all relative, yet there are certain shifts in the ways of earning crypto. Thus, Midas.Investments, a popular platform to earn passive crypto income, has finally announced its exit from the masternode market, focusing mainly only on CeDeFi. But what happened? It would seem that these guys intend to make money from everything that is on the crypto market. Perhaps the profitability on masternode coins is not so promising, or it’s just a change of policy. It’s hard to say, but the fact remains that the platform has closed one of its products — MN YAP (MasterNode Yield Automated Portfolio).

Smart alternative

For many of users, especially those who are just starting their adventure in the world of crypto, operating masternodes may seem overly complicated and intimidating. There are many services that offer a much simpler alternative to increasing your crypto capital. Once again, back to the Midas platform for god sake, lots of passive income investment tools. Interested in a more stable approach? Start hedging your returns by diversifying into a basket of assets with Stable YAP (20.3% APY) that includes BTC, ETH, and USDT. More into DeFI? Here you go, DeFi YAP! Passive income for separate coins is also available. What I want to say is that in fact, there are many platforms of this kind on the market. Perhaps not all of them provide such good returns, but it’s up to you.

I mean, if you do not have the required knowledge or enough time to take care of your masternode, consider good “old” staking.

What do you personally think about the masternode thing?