Running a Masternode with Crypos Hosting service (A Complete Beginner's Guide)

Introduction

Welcome to our step-by-step guide on launching a masternode on the Crypos platform! This guide uses Dash Diamond (DASHD) as an example, but the process is similar for all coins available on Crypos.

1. The masternode launch preparation

Step 1.1: Install the official wallet to your PC

Download the wallet for your chosen coin from the official website or GitHub. You will find links on Crypos' Main page in the "Official links" section.

Article: What is a cryptocurrency wallet, and how does it work

Step 1.2: Acquire Coins

Acquire the necessary coins by purchasing them on an Exchange or through other means available. Find links to various Exchange platforms on the Crypos' Main page under the 'Exchange Links' section.
To launch a masternode, you need to have a specific amount of coins. For example, for a Dash Diamond (DASHD) masternode, you require 7000 coins. This is what is called 'masternode collateral'. You can find details about the required collateral for different coins in the 'Masternode Specification' section.

Consider that you will need to pay Exchange and Network fees while withdrawing coins and making masternode collateral. So, it is better to buy some extra coins for this purpose.

Step 1.3: Transfer Coins to Your Wallet

Go to "Receive" in your wallet and press "Generate address".
Optionally, label your address for easy identification.
Withdraw your coins from the Exchange to this new wallet address.
In some time after sending coins from the Exchange, you will receive an incoming transaction in your wallet.

Step 1.4: Register and Set Up 2FA on Crypos

To create a new account, please visit this page: Crypos Account Registration.

After successfully registering and verifying your email address, the next essential step is to enable Two-Factor Authentication (2FA) for enhanced security.

For guidance on what 2FA is and how to activate it on Crypos, please take a look at our detailed guide: Securing Your Account with Two-Factor Authentication: A Comprehensive Tutorial.

Top-Up Hosting Credits

Press the "Hosting credits" button in the Profile menu

Press the "Add Credits" button

Select your payment method and sum to complete the transaction

2. Creating a masternode collateral

Step 2.1: Create a Dedicated Address

In your wallet, generate a new address labeled for your masternode (e.g., 'dashd_masternode_001') following the same steps outlined in 'Step 1.3' and copy the address.

Step 2.2: Send the Collateral

Navigate to the 'Send' tab. Paste the address you've just copied in the 'DASHD address or contract label' field. For the 'Amount,' input the exact masternode collateral for your coin (7000 coins for DASHD). You will need your extra coins to cover a transaction fee.

Step 2.3: Approve the transaction and wait until it gets confirmed

Press the Send button and approve sending a transaction.
Navigate to the 'Home' tab. You will see your recent transaction listed there. Open the Transaction details by clicking on the transaction you just sent. Inside the details window, look for the 'Confirmations' section. Once the transaction shows at least one confirmation, copy the 'Transaction ID' from this window by clicking the copy button.

3. Launching a Masternode on Crypos

Step 3.1: Initiate a masternode from the "Masternode Hosting" page on the website

Go to the Masternode Hosting page on Crypos. In the search bar, type the name of your coin and click "Deploy now".

Step 3.2: Enter Transaction ID

In a pop-up window, choose "Quick guide" and "Cloud VPS", and press "Next step".

Paste the Transaction ID copied at 'Step 2.3' and click "Next step."

Step 3.3: Configure the newly created masternode

1. Copy the provided masternode configuration line

2. Add this line to the masternode.conf file in your wallet, and place it on a new line. Ensure there are no empty lines between configuration entries and unnecessary spaces at the start or end of each line. This precision is essential, as any deviations can prevent your wallet from starting until the issue is corrected.

Instruction on how to find a masternode.conf file locally

The configuration file can be opened in two ways:

In certain wallets, you can directly access the file by clicking the 'masternode.conf' button in the wallet's menu. For older wallets, open the file through the toolbar by selecting 'Tools,' and then choosing 'Open the masternode configuration file.'

An alternative way to locate the masternode.conf file is by navigating to the folder where your wallet's files are saved on your computer. Typically, these files are stored in the following default directories:
```
## Replace "walletname" with the actual coin name

Windows: %USERPROFILE%/AppData/Roaming/walletname
Linux: $HOME/.walletname
Mac: $HOME/Library/Application Support/walletname
```

3. Save all changes made in the masternode.conf file and close it.

4. Restart the wallet.

5. If you did everything correctly, after the wallet restarts in the Masternodes tab, you will see the line with the masternode name "crypos_dashd_1" and "MISSING" status next to it.

Step 3.4: Check the masternode preparation status on Crypos

Return to Crypos and review the masternode launching progress outlined in Step 3.3. The 'Deploying', 'Syncing', and 'Confirmations' statuses should all indicate 'Ready'. If any of these are still underway, please wait until completion. Usually, it should not take longer than one hour to finish the initialization. If it takes longer, please get in touch with our Support via webchat so we can investigate the reason for the delay.

Step 3.5: Activate your Masternode

Copy a startmasternode command.

If your wallet is secured with a Passphrase, unlock it by clicking the "Unlock wallet" button and entering your passphrase.

Navigate to the Debug console in your wallet. You can find it under 'Settings -> Debug -> Console' or, for older wallet versions, 'Tools -> Debug console'. Paste the 'startmasternode' command you copied from Crypos into the console input line.

Once you press 'ENTER' in the Console, look for a notification that indicates 'result': 'success'.

{
    "alias": "crypos_dashd_1";
    "result": "success";
    "error": ""; 
}

The status in the Masternodes tab should update to 'ACTIVE', or in some instances, to 'ENABLED'.

Step 3.6: Confirm if the Masternode has been successfully launched

Return to Crypos and click on the 'CHECK MASTERNODE' button. You should then see a confirmation message indicating that the 'Masternode has been successfully started'.

If you can see the Masternode successfully started notification, you have just launched your first masternode on Crypos. Congrats!!!

Go to the My masternodes page from the "User's Profile" menu to see the detailed statistics for your masternode.

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