yes, you need to follow a Mail Server guide from the Community tutorials.

DigitalOcean offers unmanaged hosting. That means that you get full root access to your VPS, but it also means you need to set it up yourself. We impose no limits on email sending, but be mindful that if you send too much email too quickly major providers may flag you as a spammer.

Hi Equivipte,

Rather than building complete SMTP server, we have used Digital Ocean superfast SSD server and Amazon SES to send a Million mails few week back at cost of $100 only!

I have made this complete guide on how to here.

Let me know if you want to have same configuration. I would be happy to help you out.

How to setup bulk email server???

How to setup bulk email server in linux centos

We need following requirement for  bulk email sending:
Install Interspire 
Need 3-5 Dedicated IPs as per for 10 00 000 email per day
Create many SMTP/POP accounts.
Rotate IP time to time.
Set DKIM and SPF from domain hosting.

I am getting this error "Mailer Error: SMTP Error: The following recipients failed: XXXXXXXXX: : Recipient address rejected: Email Sending Quota Exceeded". How to solve this?

try instant bulk smtp to send unlimited bulk email using their dedicated smtp servers.