The process of setting up a remote ARC Masternode may seem daunting but you only need to follow a few steps.
Start with the checklist and work your way through the steps.
Step 0 – Checklist
You will need the following.
- 1,000.1 ARC coins. You only need 1,000 for your masternode, but do need a bit more to make the transactions and cover the fees.
- Latest version of the ARC wallet – check the Arctic website for the official version
- 10 minutes of your time
With that, follow along the steps below and you will be good to go. It is recommended to keep your details in a text file similar to the animations.
Note: Arctic refers to the Masternodes as Goldmines. In this guide we keep using the term Masternode in order to keep the same language for our customers who install multiple Masternodes across various coins.
Step 1 – Masternode wallet preparation
Your local funds need to be transferred in a special way and set up within the ARC wallet. Here is how to do it.
First you need to create a dedicated address for your masternode and also create a key that will act as an identifier between your local wallet and the VPS wallet.
Open your wallet and enter the console. From here you will have to issue a few commands to initialize the masternode which we will cover in the next step.
Step 2 – Command line action
You have to enter 2 commands and copy the output from these commands into a text file. The 2 commands are:
getnewaddress mn01 goldminenode genkey
Copy those values into the text file for future perusal.
Step 3 – Transfer Funds
Now you need to transfer 1,000 ARC to the address from step 2. This needs to be exactly 1,000 ARC in one transaction. The ARC wallet will add the fee automatically.
If you have a masternode already set up, you MUST use COIN CONTROL (see Step 5) so coins are not sent from an existing Masternode. In order to activate the COIN CONTROL feature: Go to Settings, select Options, Wallet, and tick Enable Coin Control. If you are using an OS X please check our FAQ to see how this is done on there.
As you are transferring these coins to yourself, within your wallet from one address to another, you will only see the Transaction fee in your transaction list.
Step 4 – Transaction details
Next we need to get the transaction details for the 1,000 ARC transaction. This information will be used to link Private Key, Address and Transaction together between the local wallet and the VPS wallet. The command required for this is:
Copy those values into the same text document.
Step 5 – Adding Goldmine Nodes Menu
One additional step we need to do is to show the Goldminenodes screen in the Arctic client.
Open your settings and add the Goldmine tab. We will also enable coin control for future use.
You need to restart your wallet for the changes to take effect.
Step 6 – Sign up for NODEshare hosting
Now you have completed the first part of setting up the Masternode. You can now purchase a NODEshare subscription and send through the details from the text file you have created along the way together with your payment.
We will then set up your node and send through a configuration file for you to install.
Step 7 – Configure your Masternode
NODEshare will send you a configuration file that you need to add to a file in your Arctic Wallet directory. Open the correct directory now by going to %APPDATA% and then the ArcticCore folder. In there you will find a file called goldminenode.conf.
Open this file in your text editor.
Copy and paste the values from the file NODEshare send to you into the existing goldminenode.conf file. and save the file.
If you can not see APPDATA – see this link on Microsoft for help. If you use an OS X wallet your directory will be in ~/Library/Application Support/Arctic.
Step 8 – Run your masternode
Once the configuration file is in place and updated, restart your wallet. It will then pick up the Masternode entry so you can start it.
Before you do that though, verify that your transaction has 15 or more confirmations. This is important, else your Masternode will not start.
Also ensure that your wallet is unlocked.
If you have confirmed the 15 confirmations and that your wallet is unlocked, go to the Goldmine tab, highlight your Masternode and click on Start-Alias.
Your Masternode will now start and you can close your wallet and enjoy the dividends coming in