GuidesZcoin Blog

How to start Znode on Electrum-XZC with a hardware wallet

By December 29, 2019 No Comments

Warning: This guide is for Legacy Znodes. It is not to be used with the new v0.14 Deterministic Znodes.

With the release of Electrum-XZC 3.3.8a1, it is now possible to start a Znode directly from Electrum-XZC without requiring the use of znode-tool and the QT wallet. The 1000 XZC collateral can be stored in Electrum-XZC itself or in hardware wallets such as Ledger Nano or Trezor.

Download Electrum-XZC here.

Setting up Znode on your Electrum-XZC wallet

This guide assumes that you have made the 1000 XZC transaction and configured the VPS to run the Znode according to the Znode setup guide (Steps 4-6).

1. In Electrum-XZC, go to Wallet -> Znodes.
2. The Masternode Manager window should be displayed. Go to the View Znode tab. Fill in the Alias (Label), Znode Private Key, the IP address of the Znode and Port: 8168 and click on Save as new Znode.

You can obtain your Znode key by running ./zcoin-cli znode genkey on the VPS that is running your Znode. If you using a masternode hosting service, your provider might provide you with the Znode key.

3. Go to the Choose Collateral tab, click on Scan for Znode Outputs, choose the correct 1000 XZC transaction and click on Save.
4. Go to the Activate Znode tab. If everything is correct, the Activate Znode button should be accessible. Click on it. If your Electrum-XZC wallet is passworded, you will be required to enter the password. If you are using a hardware wallet, you will need to confirm the Znode start on your hardware wallet.
5. Your Znode should be displaying the Pre-Enabled status now. It will transition to the Enabled status after some time. If there are any problems with your node, it should go to Expired or New_Start_Required.

Transferring your Znode payments

1. In Electrum-XZC, enable the Coins tab with View -> Show Coins. In the Coins tab, search for your 1,000 XZC transaction, right-click on it and select Freeze Coin. This step is important as you do not want to accidentally break your Znode!
2. Search for your 7.5 XZC Znode payment in the list. Right-click on it and select Spend. Enter the receiving address, click on Send and confirm the transaction on your hardware wallet.