Why has cryptocurrency gone from obscurity in 2009 to a trillion-dollar market in 2022? One of the most important factors in driving the success of the crypto market is the ability to earn money with your crypto investments.
Traditional investments, like stocks, don't do much for you unless the price appreciates, at which point you can sell.
But when it comes to crypto, there's an entire world of decentralized finance that allows you to earn money while holding your crypto investments.
Some of the most prominent opportunities today are node projects. Specifically, the FIRE node crypto enthusiasts have been raving about in recent weeks.
Node projects are a dime a dozen these days, and most end up failing. But we believe that FIRE nodes, offered by the Phoenix Nest crypto company, are built differently. Keep reading to learn what sets them apart and how to get started.
What are Crypto Nodes?
So what are nodes when it comes to cryptocurrency? There are a few definitions, depending on what concept you are referring to.
The traditional definition relates to blockchain security. Nodes are individual computers that download a particular blockchain software (such as bitcoin or Ethereum) to verify transactions on the network.
People who run nodes earn income generated from transaction fees. The more people who run nodes, the more decentralized and secure the network becomes. But for most cryptocurrencies, the cost of setting up a node is extremely high.
That's where node-as-a-service providers come in (NaaS). These providers make it possible for crypto investors to benefit from the passive income generated by blockchain nodes but at a much lower upfront investment.
To get started with various node projects, you'll need to buy a certain number of tokens and then burn them to launch your node. That node will then pay you a specific number of tokens every day, for the foreseeable future.
The more nodes you have, the more you can earn. However, the price of the tokens that you earn is volatile and can go up or down, either increasing or decreasing your earnings.
What Is Phoenix Nest Crypto?
Phoenix Community Capital is a new type of crypto node project. For one, they don't call them nodes; they call them nests.
And two, they've built this project from the ground up. Most node projects copy the source code from existing projects, make a few front-end changes, and launch. Then fail.
But Phoenix Nest is built by real developers from scratch. It's not a fork or clone of an existing project. This immediately sets it apart from the dozens of node projects that have been released in the past few months.
Phoenix Nest nodes are built on the Avalanche network. You'll need to buy AVAX, then swap them for $FIRE tokens in order to set up your nest. Once your nest is live, you'll earn daily rewards in $FIRE.
You can have up to 100 nests per crypto wallet. And there is a hard cap of 100,000 total nests to ensure longevity in the project.
Benefits of the Phoenix Node Project
Aside from the project being built from scratch, the FIRE node crypto project has a few benefits that set it apart from most other projects.
For one, the team is highly respected in the Defi space. They have long-standing reputations and have already built up a trusting community.
Some of the founders are already doxxed, and others will be doing so along the way. They represent a vast swatch of experience from development to financial management, digital marketing, and more.
And while most of the FIRE tokens collected from the creation of nests go into the community treasure (where rewards are out paid out), a portion of FIRE tokens goes into a separate investment treasury.
These tokens are invested in various types of Defi investments for the betterment of the community and, ultimately the appreciation of the FIRE token itself.
As you progress and create more nests, you will become eligible for an NFT. The NFT rewards (given out at 10 nests and 100 nests) boost your daily earnings.
How to Buy a FIRE Node Crypto
Ready to start earning passive income with your own Phoenix Nest? Here are some crypto tips to help you buy $FIRE tokens and set up your nest.
The first thing you're going to need is some AVAX (the native token of the Avalanche blockchain). Any exchange where you can buy and sell crypto will offer AVAX, such as Coinbase or Binance.
In order to set up a nest, you'll need 10 FIRE tokens. So make sure you buy enough AVAX to convert to 10 FIRE.
Set Up MetaMask Wallet
If you don't already have a MetaMask wallet installed on your browser, you'll need to set that up. Download the browser crypto wallet on your favorite internet browser, such as Chrome.
Complete the setup process, which only takes a few moments. By default, your wallet will contain an Ethereum address for ERC-20 tokens.
You'll need to make your wallet compatible with the Avalanche network. To do that, click the drop-down menu at the top (that says "Ethereum Mainnet").
Click "Custom RPC." Then, copy and paste the following details into the appropriate fields;
- Network Name: Avalanche Network
- New RPC URL: https://api.avax.network/ext/bc/C/rpc
- Chain ID: 0xa86a
- Symbol: AVAX
- Explorer: https://cchain.explorer.avax.network/
You'll then have an AVAX wallet address ready to send funds to. From your crypto exchange of choice, send your AVAX to your new AVAX wallet address in MetaMask. Copy the address and paste it
Swap to $FIRE Tokens
Visit the decentralized crypto exchange, Trader Joe. Click "Swap" and choose to swap AVAX with FIRE. Make sure not to exchange all of your AVAX. You need to keep a little bit in your MetaMask wallet to cover future transaction fees.
Create Your Nest
If you have 10 FIRE tokens in your MetaMask wallet, you can create your nest. Visit the Phoenix dashboard, connect your MetaMask wallet, and click "Create Nest" to burn your tokens in exchange for a nest.
You cannot sell your nest or get those 10 tokens back. But you guarantee daily rewards of 0.225 FIRE on an ongoing basis.
You can claim your rewards whenever you want and either cash them out or compound them into another FIRE nest.
Start Earning Passive Rewards Today
The FIRE node crypto project is one of the best crypto node investments for 2022. The project is unique, built by a reputable team that is working to ensure long-term success.
You can get started with FIRE nodes today by purchasing AVAX, converting it to FIRE, and creating your first nest to start earning daily passive rewards.
Don't want to buy crypto nodes directly? Then you can invest with us at Gasbox. We offer investment funds allowing you to gain access to various crypto nodes without the risk of owning them directly.