The process of setting up a remote BSD 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.
- 25,000.1 BSD coins. You only need 25,000 for your masternode, but do need a bit more to make the transactions and cover the fees.
- Latest version of the Bitsend wallet – check the Bitsend release page 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.
Step 1 – Masternode wallet preparation
Your local funds need to be transferred in a special way and set up within the BSD 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.
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:
getaccountaddress 1 masternode genkey
Copy those values into the text file for future perusal.
Step 3 – Transfer Funds
Now you need to transfer 25,000 BSD to this address. This needs to be exactly 25,000 BSD in one single transaction. The Bitsend wallet will add the fee automatically.
If you have a masternode already set up, you MUST use COIN CONTROL 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 25,000 BSD 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 – 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 additional details you will need to complete the setup – the Masternode configuration file.
Step 6 – Configuring your Masternode
NODEshare will send through a configuration file for you to put into your Bitsend folder. This folder is in your %APPDATA% directory.
From your start menu, enter %APPDATA% into your search box. This will open a Windows Explorer from where you can open the Bitsend directory.
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/Bitsend.
Here you will need to paste the masternode.conf file that you will receive via email.
Step 7 – Start your masternode
Once the configuration file is in place, 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.
You need to go back to your debug console and run one command to start your Masternode.
If you followed along the steps, the command required for this is:
masternode start-alias 1
If you chose a different alias for your Masternode, replace the “1” with that alias. A message will appear that the Masternode was started successfully. Happy Dividends!