1. Home
  2. Knowledge Base
  3. New? Start Here
  4. Full Vulcano Guide : Includes Instructions For Buying, Storing, Staking And Running A Masternode

This is a complete guide to buying Vulcano from an exchange, sending it to your wallet, staking and also setting up a masternode. If you have any questions or problems, feel free to ask in our Discord and Telegram servers and one of our community members will be able to assist you! Remember that any changes you make to your Vulcano root folder will require a wallet restart, this includes when you put in the peers,bootstrap and make changes to configuration files.

 

Part 0: Buying BTC

This part explains how to buy Bitcoin (btc) from an Exchange such as coinbase. This is a FULL guide, so if you already know how to purchase bitcoin, you can skip this part.

Coinbase is an easy to use cryptocurrency exchange that you can access on your computer, iPhone, and Android devices. It’s an awesome exchange, and a great first step into getting into crypto.  https://www.coinbase.com/join/58543c4840ca84374a8a03fb

So click the get button on the top right of the webpage and fill out your account information.

Next you need to fill out your email address and first and last name. You will then need to verify your email. Then you will need to enter your phone number. This is for 2 factor authentication to protect your account.

This last part is the Know Your Customer (KYC) verification. This is for verifying your identity, as Coinbase needs to do this to uphold to government regulations.

After verification is complete (which could take up to a week), you will now be able to buy from coinbase. Then you will be able to buy and sell different cryptocurrencies on the exchange.

In order to purchase cryptocurrencies you will have to add a payment method.  This can be found under the settings tab > Linked Accounts.

There’s 3 different types you can link to your account.

Bank Account – You will have to enter your bank account information, and it will withdraw money directly from your bank account when you make a purchase. This will also be needed when you make money and want to cash out your crypto profits. This has the lower fees than the debit card. It can take up to 7 days.

Debit Card – This is my prefered method of buying crypto, as I can withdraw my funds fast and purchase crypto without waiting days. This has higher fees when you buy crypto, but the convience of having access to bitcoin right away is a choice you will have to make.

 

When you purchase your bitcoin you will need to send it to the exchange of your choice ( I cover this later in the guide).

You can find this under accounts, and when you have a balance of BTC you can send it to your exchange account’s bitcoin address. Remember, when you send your bitcoin, you cannot reverse this transaction. Make sure you look carefully at the address you send your money to, or you may lose your funds.

Part 1 : Installing The Wallet

Once you have purchased your bitcoin, now its time to get your Vulcano wallet ready.

To begin, you will head over for this link right here: https://github.com/VulcanoCrypto/Vulcano/releases
This example will use Vulcano wallet 2.0

The average windows user will need the wallet below, but it depends depending on your operating system. If you need any help, please ask in our discord or telegram and we will be happy to help.

When you download this file you will have to extract it. A great free program to extra this is Winrar, which can be found here: https://www.rarlab.com/download.htm

When you finish downloading the wallet, you will need to extract the QT wallet here:

NOTE: Before installing the bootstrap and peers, you need to start the wallet and let it build. You’ll know you did it correct when you see the wallet is starting syncing. It will look like this, then you will close the wallet for the next part:

Part 2: Installing the bootstrap and peers:

Bootstrap :

Often times a wallet may take a long time to sync, this can happen due to the sheer number of blocks a wallet needs to download and run a blockchain.

Make sure when you do this your wallet is closed and not running.

A great way to fix this issue is to download the most up to date bootstrap.dat file here:

https://github.com/VulcanoCrypto/Vulcano/releases

When you extract the file you must now put it in the Vulcano folder. To find out where your wallet is stored check out this link for more info: https://vulcano.io/knowledge-base/how-do-i-access-my-vulcano-folder/

 

Make sure you delete the previous blockchain data and DO NOT DELETE YOUR WALLET.DAT FILEIF YOU DO YOUR FUNDS WILL BE LOST FOREVER.

 

After you are done you, now you will open your Vulcano wallet.

If you see this when you open up your wallet, you have successfully installed the Vulcano bootstrap.

 

 

 

Its alright if it may take time for the wallet to finish syncing. If you add the peers and the bootstrap like in the guide above you will see this:

When the wallet is done syncing you will know if you see this:

If you click receive you can generate your own address.

The label is an easy way to manage your different wallet addreses. In this tutorial I will be using the address I generated here, but when you follow the tutorial you will be using your own wallet address.

Part 3: Installing Peers:

When running the Vulcano wallet, it may take a long time for it to find a good connection to Nodes on the network. A great way to fix this issue is to download the peers.dat file here:

https://github.com/VulcanoCrypto/Vulcano/releases

Make sure when you do this your wallet is closed and not running. When you are done downloading the peers.dat file place it in the folder your Vulcano wallet is located. To find out where your wallet is stored check out this link for more info: https://vulcano.io/knowledge-base/how-do-i-access-my-vulcano-folder/

Now when you find the folder drag the peers.dat into the folder. It is alright if this replaces

the previous peers file in your folder.

With this, your wallet should have more connections than before.

Part 4 : Buying on an exchange

Note: To see the most up to date exchanges, please check out our coin market cap listing.

I highly recommend going to an exchange with a lot of volume, as that means you will be able to buy or sell vulcano more easily. In this example I will use Coinexchange.io. The link to the exchange listing is here:

https://www.coinexchange.io/market/VULC/BTC

Say if the link changes you can always search for it here:

 

You will need to make an account, which you can find on the top right of the website.

Make sure you fill out your information, and after you follow the steps you will be ready to trade.

 

When you purchase your Bitcoin, you will then deposit it into your exchange account:

Once your bitcoin deposit is confirmed on the exchange (Check the deposit tab for the status), you can now buy Vulcano.

Now that you sent your BTC, you can go to the buy tab and choose a sell order to fill:

Note: You can choose to buy however you want, this is a guide and not financial advise. The purpose of this part of the tutorial is to show how to buy vulcano, and the fastest way to get Vulcano is to fill the sell order.

 

Once your Vulcano order finishes, its time to withdraw to your wallet.

Part 5: Withdraw to your wallet:

The first step is finding the withdraw tab on your exchange account. On coinexchange it can be found here:

You will see this part and have to fill out the information is asks. Remember to use your own generated address from your wallet!

Once you deposit to your wallet you can now stake and if you have 50,000 vulc you can have your own masternode!

 

Part 6: What’s Staking? How Does Staking in Vulcano Work?

 

Staking in a Proof Of Stake system is the process of keeping a wallet open for a cryptocurrency and processing transactions. In order to stake, you will have to have a balance greater than 0 in order to stake on the network. Staking rewards you in Vulcano in are based on this chart here:

——————————————————————————————

 

Reward           Block             PoS        MN          Governance         Circulation

———–  —————       —–      —–        ————      ————–

95,000,000            0-1            0%          0%             0%            95,000,000

 

500          2-172800               35%         65%            0%            181,396,500

 

375          172801-345600          30%         60%            10%           246,194,250

 

281.25       345601-518400          30%         60%            10%           294,792,563

 

210.94       518401-691200          30%         60%            10%           331,241,297

 

158.20       691201-864000          30%         60%            10%           358,577,848

 

118.65       864001-1036800         30%         60%            10%           379,080,261

 

88.99        1036801-1209600        30%         60%            10%           394,457,071

 

66.74        1209601-1382400        30%         60%            10%           405,989,678

 

50.06        1382401-1555200        30%         60%            10%           414,639,133

 

37.54        1555201-1728000        30%         60%            10%           421,126,225

 

18.77        1728001-Infinite       30%         60%            10%              N/A

You can look at what the current block is here: https://explorer.vulcano.io/#/peer

POS = The amount you can earn staking. For example: At block 5000, 500 Vulcano will be able to be made and is split between POS and MNs. 35% goes to POS and 75% goes to MNS, so this means that POS will be rewarded 175 in this example. You can look at the chart to see what the rewards are currently.

 

Staking is random, but there are estimates on the explorer to get a rough idea of how long you will have to wait for a block reward: https://vulc.ccore.online/pos

An average POS input is the average amount of Vulcano a wallet has when they get a block reward. These are estimates and just because a person has the estimate does not guarantee that they will receive the reward after the average wait time.

 

Part 7: How to manage inputs for better staking

In order to enable this feature you have to Settings>Options and enable coin control features.

You’ll know it is enabled when you see this window.

Now the next thing to do is to manage your inputs. When you click on inputs you will see this:

You will then have to click the (Un)select all button to select all unlocked inputs.

Now your amount of vulc selected will be all of the unlocked inputs you have in your wallet. The easiest way to send this amount to your own wallet, with the personal address being the same. The custom change address is where the leftovers from the inputs you selected are sent. Say for example I sent 20 Vulcano to address A and chose address B as my change address with an input of 100 Vulcano, it would send the 20 Vulcano to address A and the remaining 80 to address B. For this example we just want to combine inputs so we have a better chance at staking, so I will only send 1 vulcano to myself. You can also name the address with a label if you like.

Once you send it you can check your inputs again you can see all of the smaller inputs have combine into one larger one.

 

Doing this process every now and then is important to increase the chances of your wallet staking. Larger inputs have a higher chance of getting a stake than smaller ones.

 

Part 8: What is a Masternode? How do I set up a masternode?

A masternode is a computer people can run that supports the network by helping run specific functions needed by the network. They have many tasks such processing transactions, handing instant send feature and helping keeping network concensus. This here is what you need in order to run one: System requirements

The VPS you plan to install your masternode on needs to have at least 1GB of RAM and 10GB of free disk space. We do not recommend using servers who do not meet those criteria, as your masternode will not be stable. We also recommend you do not use elastic cloud services like AWS or Google Cloud for your masternode – to use your node with such a service would require some networking knowledge and manual configuration to which we will not support.

Funding your Masternode

First, we will do the initial collateral TX and send exactly 50000 Vulcano to one of our addresses. To keep things sorted in case we setup more masternodes we will label the addresses we use.

  •  Open your Vulcano wallet and switch to the “Receive” tab.
  •  Click into the label field and create a label, I will use MN1
  •  Now click on “Request payment”
  •  The generated address will now be labelled as MN1 If you want to setup more masternodes just repeat the steps so you end up with several addresses for the total number of nodes you wish to setup. Example: For 10 nodes you will need 10 addresses, label them all.
  •  Once all addresses are created send 50000 Vulcano each to them. Ensure that you send exactly 50000 Vulcano and do it in a single transaction. You can double check where the coins are coming from by checking it via coin control usually, that’s not an issue. As soon as all 50k transactions are done, we will wait for 15 confirmations. You can check this in your wallet or use the explorer. It should take around 30 minutes if all transaction have 15 confirmations.

Installation & Setting up your Server

Generate your Masternode Private Key In your wallet, open Tools -> Debug console and run the following command to get your masternode key:

masternode genkey

Please note: If you plan to set up more than one masternode, you need to create a key with the above command for each one. These keys are not tied to any specific masternode, but each masternode you run requires a unique key. Run this command to get your output information:

masternode outputs

Copy both the key and output information to a text file. Close your wallet and open the Vulcano Appdata folder. Its location depends on your OS.

  •  Windows: Press Windows+R and write %appdata% – there, open the folder VulcanoCore.
  •  macOS: Press Command+Space to open Spotlight, write ~/Library/Application Support/VulcanoCore and press Enter.
  •  Linux: Open ~/.vulcanocore/ In your appdata folder, open masternode.conf with a text editor and add a new line in this format to the bottom of the file:

masternodename ipaddress:62543 genkey collateralTxID outputID

An example would be

mn1 127.0.0.2:62543 93HaYBVUCYjEMeeH1Y4sBGLALQZE1Yc1K64xiqgX37tGBDQL8Xg 2bcd3c84c84f87eaa86e4e56834c92927a07f9e187

masternodename is a name you choose, ipaddress is the public IP of your VPS, masternodeprivatekey is the output from masternode genkey, and collateralTxID & outputIDcome from masternode outputs. Please note that masternodename must not contain any spaces, and should not contain any special characters. Restart and unlock your wallet. SSH (Putty on Windows, Terminal.app on macOS) to your VPS, login as root (Please note: It’s normal that you don’t see your password after typing or pasting it) and run the following command:

bash <( curl https://raw.githubusercontent.com/VulcanoCrypto/Vulcano-MN-Install/master/install.sh )

If you get the error “bash: curl: command not found”, run this first: apt-get -y install curlWhen the script asks, confirm your VPS IP Address and paste your masternode key (You can copy your key and paste into the VPS if connected with Putty by right clicking) The installer will then present you with a few options. PLEASE NOTE: Do not choose the advanced installation option unless you have experience with Linux and know what you are doing – if you do and something goes wrong, the Vulcano team CANNOT help you, and you will have to restart the installation. Follow the instructions on screen. After the basic installation is done, the wallet will sync. You will see the following message:

Your masternode is syncing. Please wait for this process to finish.

This can take up to a few hours. Do not close this window.

Once you see “Masternode setup completed.” on screen, you are done.

Refreshing Node If your masternode is stuck on a block or behaving badly, you can refresh it. Please note that this script must be run as root.

bash <( curl https://raw.githubusercontent.com/VulcanoCrypto/Vulcano-MN-Install/master/refresh_node.sh )

No other attention is required.

Updating Node

To update your node please run this command and follow the instructions. Please note that this script must be run as root.

bash <( curl https://raw.githubusercontent.com/VulcanoCrypto/Vulcano-MN-Install/master/update_node.sh )

Installing a masternode with TOR

During installation, the script will ask you if you want to run your masternode on the TOR network. If you say “Y” to this, you need to change the IP address in your masternode conf from the IP address of your VPS server to its TOR hostname. This hostname will be shown to you during the syincing progress. Everything else works just the same as during a normal installation.

Non-interactive installation

You can use the installer in a non-interactive mode by using command line arguments – for example, if you want to automate the installation. This requires that you download the installer and run it locally. Here are the arguments you can pass to install.sh:

-n –normal               : Run installer in normal mode

-a –advanced             : Run installer in advanced mode

-i –externalip <address> : Public IP address of VPS

–bindip <address>        : Internal bind IP to use

-k –privatekey <key>     : Private key to use

-f –fail2ban             : Install Fail2Ban

–no-fail2ban             : Don’t install Fail2Ban

-u –ufw                  : Install UFW

–no-ufw                  : Don’t install UFW

-h –help                 : Display this help text.

–no-interaction          : Do not wait for wallet activation.

–tor                     : Install TOR and configure vulcanod to use it

If you want to make the installation process fully non-interactive, you need to provide Vulcano with arguments for the mode to use, the external IP, private key, and wether to use fail2ban, UFW and the bootstrap, and then also add the –no-interaction parameter. Please not that this will not tell you to activate your masternode from your wallet after the node has finished syncing, so it will not run until you do.

Masternode VPS helpful Commands

Start service – systemctl start vulcanod

Stop service – systemctl stop vulcanod

Restart service – systemctl restart vulcanod

Server status – systemctl status vulcanod

Masternode status – vulcano-cli masternode status

Masternode info – vulcano-cli getinfo

Masternode sync info – vulcano-cli mnsync status

 

Part 9: How to encrypt your wallet

Having an encrypted wallet is important to keep your funds safe. Without an encrypted, a person who has your wallet.dat can access your wallet and steal your funds. In order to encrypt your wallet you have to go to

Settings > Encrypt Wallet

You will then have to type a passphrase for your wallet.

BEWARE, IF YOU ENCRYPT YOUR WALLET AND FORGET THE PASSPHRASE, YOUR FUNDS WILL BE LOST.

 

Once this is done you can open your wallet up and you will now have to type a password to unlock the wallet for both staking and for sending transactions.

Related Articles