EXCLUSIVECOIN Masternode Setup GuideNODEshare's easy step by step instructions
The process of setting up a remote EXCL Masternode may seem daunting but you only need to follow a few steps.
Start with the checklist and work your way through the steps.
You will need the following.
- 5,000.1 EXCL coins. You only need 5,000 for your masternode, but do need a bit more to make the transactions.
- Latest version of the EXCL wallet - check the Exclusive website for the official version
- Either BTC or INSN to cover the cost for NODEshare hosting
- A text file or word document to keep a record of all details
- 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, download a template to keep track of the info.
Onto Step 1. Click on the below to get started.
Your local funds need to be transferred in a special way and set up within the EXCL 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.
You have to enter 2 commands and copy the output from these commands into a text file. The 2 commands are:
- getaccountaddress mn1
- masternode genkey
Copy those values into the text file for future perusal.
Now you need to transfer 5,000 EXCL to this address. This needs to be exactly 5,000, not 5,001 or 10,000. The EXCL wallet will add the fee automatically.
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.
Next we need to get the transaction details for the 5,000 EXCL 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.
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 VPS address. That is the last piece required to setup your masternode. Back on the masternode screen, you can add, start and stop your master node. See the image on how that is done.
The Masternode will not appear immediately. After about 20 seconds it will appear with a status of "Not in the Masternode list". That is to be expected. In order to start the masternode, you now simply highlight your masternode in the table and then click on start.
Once your Masternode is running, you can close your wallet and come back at a later point to check on the dividends that have been paid. Happy Dividends!