Let's take a look at the Ethereum Classic node, what it is, its earnings, what the electric cost is and some common questions.
10% Discount code: nordic
The Ethereum Mining Community (ETCMC) Ethereum Classic Node. A node that helps verify the Ethereum Classic blockchain and rewards with crypto every month for helping decentralize the blockchain.
ETCMC Node - What is it?
This crypto node is a computer that runs the Ethereum Classic blockchain and verifies blocks mined by miners. These nodes are essential for the ETC blockchain to work and be secure. The more nodes that help verify mined blocks and transactions the faster, more secure and decentralized does the blockchain become. This is a plug and play node that is super simple to setup.
The device works anywhere in the world as long as you got an internet connection. The device uses very little data.
The electric cost is less than $1 per month as it uses only 9 watts.
There is no limit to how many nodes a person can have. There is no limit to how many there can be on the same ip-address. I can have 10 nodes if I want.
See more common questions about the ETCMC node here.
Node Setup - How to set up the node
Setting up the node is extremely easy. It's a plug & play device that only took me 1 minute and 12 seconds to setup, so yeah, it is easy to setup. The ETCMC node does not need anything else to work to start earning. You don't need any additional software or licences or anything. To setup the node you do need to connect the node to a monitor "a screen" with the HDMI cable that comes with the node. Also connect a mouse and a keyboard to the node to be able to log in/start the node. Once started, login and start the ETCMC launcher. Click "GETH Client" and click "Mine ETCPOW" and you are up and running/earning. After that you can click on "Register node" and enter in your wallet address to where your rewards should be sent to. It should be a wallet address on the ethereum classic blockchain. Here is a guide on how to setup your own wallet, get your wallet address and how to claim the ETCPOW token rewards. In the launcher is a button that's called "Claim ETCPOW" where you click and are able to claim a minimum of 100 ETCPOW tokens. The tokens will get transfered to your wallet address at the end of the month.
Setup your own DIY ETCMC ETC node with the digital software licence
You can also setup your own ETCMC node using a computer or mini pc that you can buy for cheap on amazon. This you can do instead of buying the plug and play ETCMC node. The home made node will earn the same amount as the plug and play node. Here are a few mini computers I buy on amazon to setup the DIY ETCMC nodes. And here are another one.
10% Discount code: nordic
Cost, Earnings and profitability
The node currently cost $399 but anyone is able to get it for $360 by using the discount code "nordic" when buying the node. The shipping usually occur within a week or two. The node earns the crypto token ETCPOW for simply being online and verifying the ETC blockchain. The node earns around 400 ETCPOW per month. So the nodes earnings in dollar value is dependent on the price of ETCPOW. You can see the current price of ETCPOW here.
Currently the dollar price is around $0.6 per token, which means that this node currently earns around $240 per month. That is some really high earnings for a device that costs $360 and gives the node a current ROI (return on investment) of just 2 months. But the question is, will the earnings stay this high? Most likely no. It is the people who currently get in early that get to enjoy these high rewards. I believe there are only around 140 of these nodes active in the world at the moment, so I think we are very early. The helium hype that occurred lasted for a year and did not turn around before there was a lot more than 10 000 devices in the world. So, there is a big possibility that we still got a long way ahead of us with great earnings. But, who knows? Currently I believe the ETCPOW price have increased due to people wanting to provide LP to the ETCPOW farm to earn more and to buy software licences with which I will talk about here below now.
What is the utility of the ETCPOW token?
The ETCPOW tokens utility is mainly to reward node operators and to incentivize miners into the upcoming ETCMC mining pool.
Currently, the ETCPOW token can be used to buy the ETCMC software licence that makes anyone able to turn their own computer into "a node" that can verify the ethereum classic blockchain and earn rewards in ETCPOW. A DIY node so to say. When a software is bought 50% of the ETCPOW is burnt and forever gone.
ETCPOW can also be swapped towards other crypto tokens on hebeswap.
On hebeswap there is also the farm ability to add ETCPOW/ETC as a liquidity pair to earn more ETCPOW tokens, that you can see here.
More utility is said to come for the ETCPOW token.
10% Discount code: nordic
My thoughts
Honestly, I have tried out A LOT of crypto devices over the years. And this device is the easiest device I have used so far. It is that easy to setup and get started with. A perfect beginner friendly "crypto miner" so to say. Other than that, the nodes earnings are currently the highest of all my deivces. Now, the earnings might not keep being that high (although last time I said that, the earnings increased 4 times). But, as with every crypto investment it usually favors those who get in on the action early rather than late. So as the project matures I could see the earnings become a bit more reasonable. However, I have never had such a crypto node before that is connected to a big crypto token as Ethereum Classic. And when ETCMC connect their project, their tokens ETCPOW into their mining pool/mining farm and other utilities within the project, there is no telling what might happen to the token price. They have a lot going on for sure. Since the deivce electric cost is so low and the current earnings so high ($200+/month) my only regret is not getting 10 of these nodes when they just started selling them :_). But, who would have known? It is for sure a low powered crypto miner that is able to give me some good passive income at the moment. The earnings could go down 20-100 times and I would still make a profit with it.
See a full review of the ETC node here. The earnings mentioned in the video is not up to date since the earnings have increased so much.