Interview with Oskars Kupcs, co-founder of Nodexo.
Can you introduce the team behind Nodexo?
Sure, Nodexo team is a perfect combination of 3 core members, all of us have strong background in IT, business and finance. I’m Oskars and for more than 5 years I’ve been exploring various ways on how to earn additional income because relying only on your salary is like playing with fire. It was a surprise to me that a lot of people around me were thinking the same, so the idea of creating a solution where anybody can earn was born. Before that I’ve gained a master’s degree in business and industrial management plus the experience in business development in cloud-based solutions and love for crypto assets paved a way to the Nodexo shared masternode platform.
Viesturs is our CTO and a developer since the beginning of his carrier. Overall, he has more than 15 years of experience in IT product development in the most innovative AI company in Latvia. He holds an MBA oriented to IT and has been into blockchain industry for more than 4 years. Viesturs learned to set up masternodes since the time the technology appeared, so now he does it eyes closed.
Janis is the lead full-stack developer of Nodexo. For more than 10 years he’s been the top-notch finance software architect and application developer. Also led a developer team in Daimler AG. Favorite technology stack: .NET Core with Angular on the front-end.
What is a masternode and what are the incentives for holding one?
Masternode is considered as an alternative to a full node, they also keep a full copy of the blockchain and are basically involved in ensuring that the blockchain is running 24/7. Masternodes are essential for improved privacy of all transactions made on the network as well as they are responsible for instant transactions and even participate in governance. By performing such functions masternodes are eligible for block rewards and this is an incentive to users to run a masternode. Also, the ability to participate in governance provides an opportunity to vote for different projects and improvements to the blockchain project.
What services do you offer today and what are you planning to offer in the future?
Nodexo shared masternode platform users we like to call them investors, can participate in shared masternodes, this is a perfect solution for those who are not ready yet to fully commit their investment in a full masternode. Next level is owning a full masternode. The majority of our users are choosing this option, because they don’t want to think about the complex setup and a maintenance of masternodes.
Learn more about the pros and cons of masternode pools
Our investors love to get their masternodes with Bitcoin or Ethereum, this means that they don’t need to visit different crypto exchanges to get masternode coins and send them to their Nodexo wallet. Even more and more investors appreciate this function now.
We’re secretly working on a completely new solution that only few know about. We will let different crypto asset holders to directly invest in masternodes via API integration. Our first pilot product will be tested with Crypto Police, they are our partners and their community members detect scam on the internet and receive tokens for doing so. Therefore, we’ll help them to improve usability to their coins and also the trading volume.
What is the price for hosting a master node on Nodexo.io?
We’re proud that we give our investors freedom and there are no deposit or withdrawal fees. We believe that it is only fair that we charge only for the result. This means that the only fee we take is 7% from the payouts made to the investors and the fee is equal to all masternodes. From this fee we are paying to our masternode hosting provider which is Microsoft.
Also, if anybody participates in our referral program we are giving away a percentage from our fee to those who refer their friends to the platform. If their friend invests in masternodes, then we reward the one who referred his or her friend.
What is the advantage of hosting masternodes with a third party?
The greatest advantage we see is that you don’t need to set up and maintain the masternode by yourself. I remember myself reading through the masternode set up guides and videos, it takes a lot of time. Then there is the maintenance, if I want to go abroad for a longer period and leave my computer at home, and a sudden masternode update is released or my VPS breaks down and does not let me earn my rewards anymore then this is useless.
I respect our investors and others who trust their masternodes to us or other service providers, because a service like Nodexo is also rewarding the investors with the most valuable asset – time. We take care of your masternode hosting and maintenance, so you can focus on what’s important to you.
What are the qualities that an investor should look for in a masternode hosting service?
One of the fundamentals that I start with when choosing a masternode hosting service is simply search for client testimonials and feedback. Obviously make sure that the reviews are honest and not created by the service provider. In order to find the feedback, join their community and follow how responsive is the support and whether they respond in a timely manner.
As you are dealing with business, it must be registered somewhere, if you can’t find the company details just ask the staff. You have your rights to find out if the masternode service is a legal entity or not. Then this could be a red flag.
Some masternode services also provide a list of the team members this is a great asset especially in the crypto industry where trust means everything. Of course, make sure that the members are real with real social media profiles or other information.
If the criteria mentioned above is positive, then comes the technical aspect – user experience, if it’s easy to work with, where the user’s funds are stored, when I can expect the first payouts, what are the service fees and the list goes on.
- Investing in Masternodes: Part 3: Masternode Pools and Shared Masternodes
- Investing in masternodes Part 2: Masternode Scams
- Investing in masternodes: Part 1: Business Risks
What master node coins do you follow and why?
I wouldn’t like to advertise any specific masternode coins that we are following or working together with. However, there is a certain criterion which must be met before we add the project to the Nodexo shared masternode platform, because we care where our investors invest their funds.
To get a clue of how we evaluate the masternode projects I’ll give you a few guidelines. Firstly, there is a full scope of project research of what business problems does it solve. Does the team behind it has the right qualities to scale the project and so on. Then we understand why the masternode is necessary for the particular project and what functions does it have.
Secondly, we evaluate all the technical details, like block reward model, trading volume, masternode value, exchanges where the coin is being traded. These are just some of the details, full list is provided to all masternode projects who would like to be listed on Nodexo shared masternode platform.
Would you like to add further information?
For those just starting and eager to enter the masternode world I encourage you to read as much information as possible and ask questions often. Be sure to follow Nodexo on Twitter and Facebook, because we’re sharing useful tips about masternodes and investing in general.
More information about Nodexo shared masternode platform is here: https://nodexo.io/
Thanks to Oskars Kupcs for the interview.
For more information on masternodes please visit our Masternode page
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