Get to Know the Bitcoin Green Masternode
As one of the original Bitcoin alternatives, Bitcoin Green (BITG) invites users with less modern computers to join the crypto world. The coin’s team is aiming for an ecological solution which stands against the Proof-of-Work consensus. Showing one of the alternatives, the Bitcoin Green cryptocurrency started with 500,000 premined coins, without any ICO funded needed. Its block time is around 1 min and offers a reward of 8.5 BITGs for masternode holder and 1.5 for stakers, or 10 BITGs per block in total. Rewards are adjusted to match a fair distributing process. There’s а voting mechanism in place and all Bitcoin Green masternode operators are able to participate. In short, we can observe instant and private transactions as well as a high level of masternode payouts. In this article, you’ll learn how to setup your own BITG masternode and what kind of ROI you can expect.
How to Make Money from BITG Masternodes
The revolution here comes from the Green Protocol, which is not only energy efficient but also very fast. Aiming to replace Bitcoin’s algorithm, the Bitcoin Green project is giving 85% of the reward to masternode users, 10% for staking and 5% for maintenance.
Here’s a halving reward system built to adopt this new trend, which is supposed to replace mining’s attractiveness. Before, the team offered the opportunity to have some extra time to configurate your wallet if you’re a beginner, which is currently not available anymore. Every 1,050,000 blocks the reward will halve. The average BITG masternode payout is once in 27 hours, provided there are roughly 1600 active users.
Bitcoin Green Masternode Setup
MINIMUM REQUIREMENTS
Here is what you need to run a Bitcoin Green masternode:
- Accumulate 2,500 BTIG coins as collateral, buyable from an exchange like Crypto Bridge
- Set up your official Bitcoin Green wallet
- Choose a VPS with a minimum of 1GB RAM and 10GB HDD, working on Linux Ubuntu version 16.04 – try the Vultr as a provider if you don’t have one
- Finally change your IP’s address – by default might be dynamic, make it a static one
- linux
- wallet
- bitcoin-green
How to Set Up a BITG Masternode Step by Step
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Rent a VPS with at least 1 RAM memory and 10GB of a free HDD.
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Use the PuTTy software to sync the VPS with your PC.
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Set up the official BITG wallet on your computer.
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Add the required collateral and unlock your coins.
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Run the Bitcoin Green masternode and check if it’s also working on the VPS.