Are you considering creating a Gala node? Do you feel like the price of purchasing the rights to run a node is expensive? Currently, the node price is $50,000 per node, but it will increase and become even higher in the future. How long time will you use turning your investment to zero, and later generate a nice passive income with your node day-by-day?
In this article, I will write some easy numbers that will help you understand how much you can earn with a Gala node and how long time it will take for you to reach 0 (that means you have earned back the price you paid to purchase your node).
Before we continue, it is important to notice that in the future you will be able to sell your Gala node. In other words, even though you pay $50,000 for your node today and it might feel as if you just “lost” $50,000, that isn’t entirely true. When you purchase a node, you own the rights to that node, and in the future, you will be able to sell it, meaning that you have actually bought something of value. But, let us forget about that for a second and keep on calculating and sharing some numbers.
Other costs of running a Gala node
When you run a Gala node, there is an initial cost that is currently $50,000 per node. But, there is also a cost of renting a VPS (which I warmly recommend), but that is only somewhere between $5 to $10 per month, so compared to the price of the actual node, it is really not worth taking into consideration. If you wonder which VPS to use and how you can set up a Gala node, I can warmly recommend this illustrated guide.
There are also tiny Ethereum fees for doing transactions on the blockchain, but once again, compared to the actual cost of the node, I don’t think some transaction fees of $10 should matter a lot. But, if you want to do exact calculations, I would add a cost of $70 to calculate for the annual VPS fee and maybe $130 to pay for Ethereum transaction fees.
The total cost would in that case be $50,200.
The transactions fees can be much higher if you collect your rewards frequently as there is a transaction fee you have to pay whenever you collect your rewards. But, if you relax and let the node do the work and you only collect rewards once a month of something like that, then these fees are likely to be correct.
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How much will I earn with a Gala node?
It is important to notice that while the price of a Gala node is increasing as more and more nodes are created, the reward pool doesn’t grow. As a result, the daily rewards given out to node owners are decreasing. That is why you should expect lower daily rewards by the time you create your node compared to the numbers I am about to describe.
Gala node rewards as of November 2021
Currently, it seems to me as if the daily rewards are approximately 490 Gala tokens per day to the node owners. Two days ago I received 491, and today I received 487. As a result, you can see the decline in the number of tokens handed out to the node owners daily, but still, it is a nice passive income.
How much will I earn in $USD per day with my Gala node?
If you take the number of daily Gala tokens given to a node owner per day and multiply it with the actual value of the Gala token, you will get a good feeling about how much you will earn with a Gala node per day in USD.
Above you can see the actual price of Gala right now, but if we take the current price (as I am writing this article) into consideration, the math will look like this.
Gala node rewards per day: 490 Gala tokens (daily rewards) x $0,65 (Gala token price) = $318 per day
Of course, the price of the Gala token will most likely fluctuate a lot and it might go way higher, but also lower, so this is something you should take into consideration when joining the project.
Based on these numbers, we can easily find out how long time it will take for the investment to reach 0.
Time for your Gala node to go into plus: $50200 (total cost) / $318 (daily income) = 157 days
Based on these calculations, you will start making money after 160 days. But once again, that isn’t true, because the node in itself has value and it can be sold later. It is also important that you can win NFTs as a node owner and more, so there are lots of bonuses unaccounted for in this article.
Should I get myself a Gala node?
That is a question you need to answer yourself. I believe this is a very interesting project and it has the potential to explode will all the amazing games and projects available on the platform. If it does, you will be extremely happy that you are a node owner. If it should submerge and disappear, that would be a pity, but I hardly doubt that it will.
There are always risks involved when you invest money, especially in cryptocurrency-related projects, but I believe that a Gala node will be a good investment. However, do your own research before you get started.
- If you need help actually creating a Gala node, take a look at this thorough and illustrated guide.
Would you like to read about other interesting cryptocurrency projects as well? Why don’t you create a Presearch node as well? It is much cheaper, and it also has great potential for the future! There are other interesting projects like StormX, StrongBlock, OHM, and several others as well that will generate a nice stream of passive income for you.
Make sure to bookmark this page in order to read more articles about similar interesting projects in the future!