RATE Group | Most Masternode Coins Are a Scam
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Most Masternode Coins Are a Scam

03 Jun Most Masternode Coins Are a Scam

Posted at 04:42h in Bitcoin News by

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Most Masternode Coins Are a Scam

Altcoins

Long before Proof of Stake entered crypto consciousness, people were staking Proof of Work coins. In return for locking up a portion of tokens and running a masternode, you can earn verification rewards. Earning a passive income while helping to secure a network sounds as comfortable as it does noble. The reality, however, is that most masternode coins are a scam.

Also read: Crypto Exchange Launches in Gibraltar 

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. Dash is the altcoin credited with starting the craze for masternodes. Back when…

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