Getting Started with the PiGrid Research StakeBox
StakeBox and Gridcoin have partnered together to bring you the Gridcoin StakeBox - a device that allows you to stake your Gridcoin cryptocurrency and make a return on your investment.
Staking Gridcoin is the process of securing the network with your coin weight, which in turn rewards you with new Gridocoin coins.
This quick guide will show you the steps to take to start staking with your Gridcoin using the graphical interface. This guide assumes you have some basic knowledge of how to use Linux OS.
Note: This guide is for reference only and we cannot be held responsible for any loss or theft of wallet data. Please make sure you backup your wallet and passphrase in a variety of locations.
What you will need
- 1x Gridocin StakeBox
- USB keyboard & mouse (optional)
- HDMI Cable (optional)
- Ethernet Cable
Assemble your hardware
- Connect your HDMI cable to your TV/Monitor
- Connect your Keyboard & Mouse
- Insert your Gridcoin microSD card into the SD slot (If purchased separately)
- Connect the micro USB power adapter
- Connect your Ethernet Cable
When you power up your Gridcoin StakeBox, after a few moments you will be presented with the Gridcoin graphical interface where you can configure your Gridcoin StakeBox.
If you have already connected your StakeBox to your router via an Ethernet cable then you can also access the Gridcoin interface using the IP address i.e. http://192.168.1.10/ or you can visit http://pigrid.com/findmypi
There is a 4-step process to setting up your Gridcoin StakeBox as you can see on the home page. The first step we have already achieved by connecting the Gridcoin StakeBox to the internet via the Ethernet connection.
Step 1 - The first step we have already achieved by connecting the Gridcoin StakeBox to the internet via the Ethernet connection. You will know that your Gridcoin StakeBox has an internet connection by its status in the upper left hand side.
Step 2 - The second step is to enter your unique license key, which will register your StakeBox device with Gridcoin. Input your license key into the license key field
Note: That you license key is case sensitive
You will then be prompted to Login with your user account if you already have one, otherwise you can also create a new account by selecting the "Create new user" button and clicking "Next".
On the next screen enter a valid email address and create a password for your new user account.
Step 3 - Once the user account has been created you will need to read and accept the terms of service that Gridcoin provides. Select the check box and click "Confirm" to proceed.
Step 4 - After accepting the terms of service the Gridcoin StakeBox will then begin to configure itself. This could take up to 30mins in total and once completed you will be able to click on "Continue" to proceed.
Finally you will then be presented with the Gridcoin homepage where you can start to Stake you Gridcoins.
Backup your wallet
Before we do anything with the Gridcoin StakeBox it is important to backup and encrypt the wallet. This will allow you to restore the wallet later if there are any issues. By default this is a requirement before you can send and receive coins.
Step 1 - On the main home page on the left hand side of the menu click on "Funds". You will receive a warning message stating that your funds are locked.
Step 2 - To unlock the funds menu click on the "Click here to create a backup" link.
Step 3 - Enter a password to encrypt your backup file and confirm the password by re-entering in the field below.
Note: If you forget your password you will NOT be able to resort your wallet so make it memorable or store it somewhere safe.
Step 4 - Finally Click on "Create backup" to download the wallet backup file to your computer or StakeBox.
Now that we have access to the funds menu we are able to send and receive coins to the StakeBox. In order to send coins to the StakeBox we need to know what the receiving address is. In the Funds menu click on the "Receive coins" menu.
In the next screen you will see your receiving addresses where you can send your coins too.
Here you can also create new addresses if you wish to. Simply click on "New Address" button. You will also see a pop up message warning you about the address becoming public. To create a new address click the "New Address" button again to continue.
Once created you will see a green message in the upper right hand side and your new address will appear in the list or you can refresh the web page.
Your Gridcoin StakeBox will start staking as long as you have coins in your wallet and the status of the blockchain has fully synched with the Gridcoin network. You can see the status either from the "Settings" menu or you can see the icon in the upper left hand side where orange is still synchronising with the server and green is up to date.
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