How to create a masternode with simple masternode

Simple Masternode or SMN is our newest service that will allow you to create a masternode hosting without the need of technical knowledge.

You can read more about it here

Please read this post before you proceed about how to disable staking and save you time: https://blog.simplepospool.com/how-to-enable-or-disable-staking-on-your-qt-wallet

This post is meant to show you how you can create a hosting for your masternode with just a few clicks and it´s designed to allow everyone perform all the steps and have the masternode running at the end of this tutorial. We try to add more and more coins to the list, however if you don´t find your coin, please suggest it here

Well, let´s start with an example of PEONY Coin (PNY). Peony is a PIVX based wallet and almost 85% of all wallets will share the same commands, however I´ll post also other possible known commands, at least for the wallets that I´ve been working with.

Heres what we´ll teach you in this post

Start the Simple Masternode order

After starting, please make sure you have some BTC balance to start, otherwise you won´t be able to start.

Log into your dashboard and you´ll find the menu MASTERNODE > Simple Masternode

simple masternode

After clicking on it you will see all available coins to choose from in order to create your VPS. Click and select or write PEONY

You´ll see some details that we get from masternodes.online and show you the most important details, like collateral amount, ROI, estimated reward frequency and the total value of the masternode.

Just click “Next Step” and we´ll tell you the steps that you have to follow in order to create the transaction with the collateral of your masternode. Step by step just click to confirm that you´ve performed these steps and click next.

After sending the collateral to the choosen address in the previous step, please go to the transactions tab of your wallet and search for the last entry that should state “payment to yourself” in the first line from the top. Right click your mouse and copy transaction ID or double click that  transaction to open a window with the details.

Paste that transaction ID in the box. If you use a wrong transaction ID it will return an error, otherwise it returns a confirmation message and ask you to continue.

By clicking on next a new message shows up telling you the details of the fees. Click next if you agree.

In this preview you´ll see the transaction ID and the Index, both details that you need to start your masternode. You can copy and paste it for future usage, but we´ll send it through email for your record and save it in your “My SMN” area. By clicking next, your order is completed and our system will take care of the rest. You know that it´s ok after seeing this message: “Success. Your masternode will be created”

Overview of your SMN orders

On your dashboard menu just click Masternode > My SMN and you´ll see and overview of all your orders

The cancel button is self explanatory and for the status we have right now 3 options:

  • Pending – The system is installing the VPS where your masternode will be hosted. When it´s done, the next status will appear
  • Ready to start – This means that you´ve received an email with all the details you need to start your masternode and everything is ok on our side
  • Canceled by the user – this means that you canceled your VPS subscription and it stopped the daily billing and your VPS for your masternode.

You can start your masternode within your wallet as soon as you receive an email and /or see the status as green.

Create the masternode.conf file

If you reached to this step, it means that you´ve received an email from us with the missing details to fill the corresponding file to be able to start the masternode.

The email you received will have your transaction ID and the Index and are the same as in the previous step. The additional info you received are:

  • IP address
  • Private Key
  • Port

Please open a notepad and create a line like this:

alias IP:PORT PrivateKey Transaction Index

The alias is just a reference for you to identify the masternode. You can name it the way you want without any spaces. You can name it for example pny1. Like this example, the line should look like this:

pny1 136.244.119.227:16890 dsadsadsadADSADSadsaDSAdsaDSADadsa 6db8fe075ccb18306cd8ea3d1912dab462b8e2a491e71e9de572247be2556c3d 1

Now it´s time to insert it into the corresponding file of the wallet. On your wallet go to TOOLS > OPEN MASTERNODE CONFIGURATION FILE or open the location of the data folder of your wallet and search for the file called masternode.conf in most of the cases. Some coins name this file a bit different. I rememebr one coin calling it ghostnode.conf. If you open the data folder you´ll see always (99% of the cases) 2 files with the “conf” extension. One is named with the coin´s name and another one. Choose this second one…

When it´s open and it´s the first masternode you´re creating, you´ll see something like this:

delete everything in it and paste the line you created above

save and close it. Now it´s time to restart the wallet.

Let´s start the masternode

This is the best part because it means you will earn more and more coins, however you will some issues to start it depending on the wallet, but it´s easy the way I´ll tell you.

After restarting the wallet, you have to unlock it and remove the check in “For anonymization, automint, and staking only”

Select the masternodes tab. Should you face a wallet without this tab, go to SETTINGS > OPTIONS and select and check  “Show Masternodes Tab” and click ok. Some wallets need a restart. If so, just restart the wallet again and fully unlock it.

After Masternodes Tab selection you will see the list of you masternodes. You see it as missing under status. To start the masternode, click “Start Missing” and if everything is ok you´ll see this message

If an error message pops up like this:

than it´s time to take the other road 🙂

Unlock your wallet again and go to TOOLS > DEBUG CONSOLE and a new window will open. You have to type a command in order to start the masternode. There are at least two types of commands and you know which one you need to use, either by start typing it and the command appears below or if you type the command and an error message pops up.  By starting to type the command you see something like this

You see on the left side the autofill and on the right side the same autofill for the other command, but the only two commands I know until now are

  • startmasternode
  • masternode

There can be also some variations like I told before with that coin that uses ghostnode as file, but since I never made a masternode of that coin, that starting process could be also the same as above. Let´s concentrate on the majority and see how we should do it:

  • startmasternode: with this command we should always write startmasternode alias false “alias of your mn”
  • masternode: with this command we should always write masternode start-alias “alias of your mn”

In any of the two cases a success message will appear and you know it started. You can now close this window and by clicking on “Update Status” you´ll see the new status of your mn. You should lock now your wallet and relax. The first reward should come on average after 3 times the average block reward. This info can be found on masternodes.online or on the order summary in simple masternode. You can even close your wallet and the next time you open it, it will resync and catch up all rewards that were generated in the meantime.

In case you want create another masternode of the same coin, you just have to follow all the steps above and when you edit the masternode.conf file, just don´t delete the line you created before.

Delete a masternode

In case you want to delete your masternode for any reason, you have to cancel your SMN subscription under “My SMN” and edit the masternode.conf file. Delete the line of the masternode you want to cancel, save the file and restart the wallet. After restarting, the coins will be unlocked and able to stake or to spend.

For any other inquiries, just visit our discord or our FAQ that will be updated from time to time when any question is asked.