Masternode Setup

[Keith]

If you have 10,000 Guapcoin, congratulations!  You can setup your own Masternode!  Be prepared to do some learning and follow the instructions carefully. 

If you're new to processing transactions in the desktop wallet, it's a good idea here (and with crypto in general) to start with sending a few coins (like 1-10) before sending large amounts so that you make sure you're doing it right and having it go through.  No one can get your coins back if you accidentally enter the wrong address, send the wrong amount of coins, or mess up the transaction. 

You can choose to self-host your masternode where you setup the code on a VPS server, or use a 3rd party where they run the code on their servers.  Either option lets you keep the coins in your wallet.

Masternode Payouts

• As of June 2023, the payout is 12.75 Guap per day.  The rewards will gradually taper down through the years.  More info can be found here: https://www.guaptalk.org/topic/230-masternode-and-staking-rewards/

Running a masternode requires that you have a desktop wallet

• Get a desktop wallet here - https://guapcoin.org/get-guap/

IMPORTANT: MAKE SURE TO BACKUP YOUR PRIVATE KEYS IMMEDIATELY FOR EVERY ADDRESS YOU CREATE (INSTRUCTIONS ARE FURTHER BELOW)

Option 1 - Setup via pecuniaplatform.io (less control, less difficult, less expensive - around $1/mo)
They host the MN for you; you keep your coins in your wallet

• Here's the link: https://pecuniaplatform.io/
• This option is a simpler route than self-hosting
• Here is an instruction video done by a Guap community member: https://www.YouTube.com/watch?v=lUyprxerbCY
• Basically, you setup your Pecunia account, fund your account with some bitcoin to pay the MN hosting fees, send 10,000 in coins to a Guap address you've created in your desktop wallet, then follow the Pecunia instructions for setting up the MN.  You still retain your coins in your own wallet.  The MN script gets setup through the Pecunia automated system and hosted on their servers.  Their support team will help you with issues. 
• So far our community has had good experience with them, but there's always the risk that their servers could go down or the MN not be installed correctly, or go offline, and you have to rely on them to maintain and fix any issues. Your coins always remain in your control, just like the self-hosted VPS option.

Option 2 - Setup via nodehub.io (less control, less difficult, less expensive - around $1.89/mo)
They host the MN for you; you keep your coins in your wallet

• Here's the link: https://nodehub.io/
• This option is a simpler route than self-hosting
• Basically, you setup your NodeHub account, fund your account (with cryptocurrency, credit or debit card, or Apple Pay) to pay the MN hosting fees, send 10,000 in coins to a Guap address you've created in your desktop wallet, then follow the NodeHub instructions for setting up the MN.  You still retain your coins in your own wallet.  The MN script gets setup through the NodeHub automated system and hosted on their servers.  Their support team will help you with issues. 
• So far our community has had good experience with them, but there's always the risk that their servers could go down or the MN not be installed correctly, or go offline, and you have to rely on them to maintain and fix any issues. Your coins always remain in your control, just like the self-hosted VPS option.

Option 3 - Setup via a VPS Server (more control, more difficult, more expensive - around $5-$10/mo)
You self-host by renting a server and running the setup script; you keep your coins in your wallet

• Instructions can be found here: https://github.com/guapcrypto/Guap-v2.3.2-MN#guapcoin-masternode-setup
  • Go to Section 4. How to Setup a MasterNode Guide - Full Tutorial
  • Here are some more detailed instructions (use in combo with the link above as some have been updated): https://github.com/jaylamb1/Guapcoin-MN-Install-V2/blob/master/Full_MN_Install_Instructions.md?
  • Here is an instruction video done by a Guap community member: https://www.youtube.com/watch?v=Y2-dQkTu5c0
• You'll use an online Ubuntu Linux VPS (Virtual Private Server) running Ubuntu 18.04 or 20.04 that you rent from somewhere and then configure yourself with the Guapcoin MN script. 
• VPS providers that community members have used and liked are: DigitalOcean, Vultr, VPSDime, MVPS, and Ionos
• You'll also need to install either Putty software for Windows, or Terminal.app for macOS
• Here are instructions for connection to a DigitalOcean Droplet via Putty https://docs.digitalocean.com/products/droplets/how-to/connect-with-ssh/putty/
• So far our community has had good experience with this route, but there's always the risk that their servers could go down, which is usually very rare for VPS servers.  The configuration, setup, and maintenance are all your responsibility.  If the MN doesn't get installed correctly, or goes offline, you'll have to figure it out and fix it (of course, you can ask the Guap Community for help along the way). Your coins always remain in your control.

Again, you need to backup your private keys by doing the following:

• This is important because if your PC crashes, that's what you'll need to setup a GUAP wallet on a new PC and regain access to each wallet address.  You don't want to lose access to your coins!  No one can help you get them without that private key or the wallet dump file noted below.

• Make sure you backup the private key for each wallet address you have in your desktop. Do these steps every time you create a new wallet address you're going to use!  Here's how you do that:
  • 1) Unlock your wallet
  • 2) Go to settings > debug> console
  • 3) type dumpprivkey followed by your public wallet address, so it looks like this: dumpprivkey GU12345678
  • 4) In the console window, copy the result line and save it somewhere safe
     

• Another option is to create a wallet backup file by doing this:
  • 1) Unlock your wallet
  • 2) Go to settings> Wallet
  • 3) Under the Backup Wallet heading, click on the words "Select Folder" and choose a location to save your wallet backup file
  • 4) Choose a name for your file and click save
     
• Many of us actually do both options just to be extra safe.
• And make sure to save them somewhere safe you trust: in the cloud, on a USB drive, printed keys, etc, not just on the computer that could die because if you only save them on that computer and it dies, then you're still locked out of your coins forever.
• Again, you need to do this every time you create a new wallet address in your desktop wallet!

Checking Masternode Status

• You can see your status in your desktop wallet by going to Master Nodes.  It's a good idea to do this regularly to make sure its status stays Enabled.
• You can login to your VPS or Pecunia or iHostMN to check on the status.
• You can go to https://guapexplorer.com/#/masternode and enter your Masternode wallet address and see if it was online in the past 24 hours or search through the list to see if you've gotten recent rewards.