Crypto Side Hustle Guide: How to Setup A Dinerocoin Masternode And Make Money With the Dinerocoin Network

Introduction

In this tutorial, we will be setting up a Dinerocoin Masternode on a Ubuntu 16.04 server. We will be using a VPS from Vultr and will be connecting to it using SSH via Putty.

What is Dinerocoin

Dinerocoin is a decentralized, peer-to-peer digital currency that enables instant payments to anyone in the world. It is based on the Bitcoin protocol but differs from Bitcoin in that it allows for instant transactions and private transactions. Dinerocoin is also open source and uses a proof-of-stake consensus mechanism.

The Dinerocoin project was launched in 2017 by a team of experienced cryptocurrency developers. The team is led by CEO, Ryan Fugger, who is also the creator of Ripple. Dinerocoin has a strong focus on privacy and security and aims to provide users with a fast, efficient and secure way to send and receive money.

The Dinerocoin network is powered by masternodes, which are specialized servers that provide increased stability and security for the network. Masternodes also enable instant transactions and private transactions.

To setup a Dinerocoin masternode, you will need to have 1000 DINERO coins collateral locked in a wallet that you control. You will also need a VPS server with at least 2GB of RAM and 20GB of storage space.

Once you have your collateral and server ready, you can follow the instructions below.

How To Setup A Dinerocoin Masternode

If you’re looking to get started in the world of cryptocurrency masternodes, then Dinerocoin is a great option. In this blog post, we’ll show you how to set up a Dinerocoin masternode on a VPS.

First, you’ll need to purchase some Dinerocoin. You can do this on any major cryptocurrency exchange. We recommend using Binance or Kucoin.

Once you have your Dinerocoin, you’ll need to send it to a personal wallet. We recommend using the official Dinerocoin Wallet for this purpose.

Once your Dinerocoin is in your personal wallet, you’ll need to generate a masternode key. This can be done by going to the “Masternodes” tab in your wallet and clicking “Create Masternode Key”.

Next, you’ll need to set up a VPS. We recommend using Ubuntu 16.04 for this purpose. You can find detailed instructions on how to set up your VPS here.

Once your VPS is up and running, you’ll need to SSH into it and run the following commands:

cd ~/dinerocoind-v0

Dinerocoin Masternode Prerequisites

Setting up a Dinerocoin masternode requires some basic technical knowledge and the ability to follow directions. This guide will outline the steps necessary to set up your own Dinerocoin masternode.

Before you begin, you will need the following:

A computer running Windows, Linux, or OSX
A VPS (virtual private server) with at least 2GB of RAM and 40GB of storage space
A Dinerocoin wallet installed on your local computer
At least 1000 DINERO coins In order to setup a Dinerocoin masternode, you will first need to create a collateral transaction of 1000 DINERO. This can be done through the “Debug Console” feature of your wallet. Simply open your wallet and go to “Help” > “Debug Window” > “Console”. Then, enter the following command:

masternode collateral 1000
where is the address of your Dinerocoin wallet. This will create a transaction of 1000 DINERO coins and send them to your wallet address. Keep this transaction ID handy, as you will need it later.

Installing a Dinerocoin Masternode on Ubuntu 18.04

In order to setup a Dinerocoin Masternode, you’ll need to have a VPS running Ubuntu 16.04 or 18.04. You’ll also need to have a Dinerocoin Wallet set up and synced with the network.

Once you have your VPS and wallet ready, you can ssh into your VPS and follow the steps below:

1) Download the latest Dinerocoin release from GitHub:
wget https://github.com/Dinerocoin/Dinerocoin/releases/download/v3.0.3.1/dinerocoin-v3.0.3-linux64-cli.tar.gz

2) Extract the tarball:
tar -xzvf dinerocoin-v3.*-linux64-cli.tar.gz

3) Install the binaries:
sudo install -m 0755 -o root -g root -t /usr/local/bin dinerocoin-v3.*/bin/*

4) Create a configuration file for your masternode:
nano ~/.dinerocoin/dinerocoin.conf

Installing the Dinerocoin Daemon

This section will guide you through the process of installing the Dinerocoin daemon software on your server. The daemon is the program that runs in the background and handles all the Masternode related tasks such as monitoring your Masternode, responding to network requests and keeping your node synced with the blockchain.

The first thing you need to do is SSH into your server and update it.

“`
sudo apt-get update
sudo apt-get -y upgrade
“`

Once that’s done, you can go ahead and install the Dinerocoin daemon. Make sure you download the latest release from the official GitHub repository.
“`wget https://github.com/dinerocoin/dinerocoin/releases/download/v1.1.0.0/dinerocoind-ubuntu1804-v1.1.0.0.tar.gz“`

Extract the archive and move into the newly created directory:
“`tar -xzvf dinerocoind-ubuntu1804-v1.1.*.tar.gz
cd dinerocoind-ubuntu1804-v1.1.*

Updating and Managing your Dinerocoin Masternode

It’s easy to get started with a Dinerocoin masternode. Here’s a guide to updating and managing your masternode.

Once you have your Dinerocoin masternode up and running, you will need to update it regularly to maintain optimal performance and security. Updating your masternode is simple and only takes a few minutes.

To update your masternode, log into the server that is hosting your masternode and run the following commands:

cd ~/dinerocoin
./dinerocoin-cli getinfo
./dinerocoin-cli mnsync status
./dinerocoin-cli masternode status
Then compare the “version” field against the latest Dinerocoin release on Github. If they don’t match, you will need to update your masternode. To do this, run the following commands:

cd ~/dinerocoin
git pull
./autogen.sh
./configure –disable-wallet –with-gui=no –prefix=/usr/local/bin/dinerocoin-0.12.1.5/ –bindir=/usr/local/

Checking your node status and earnings

Once you have setup your Dinerocoin masternode, you will want to check on it periodically to ensure that it is still up and running. You can do this by running the following command:

./dinerocoin-cli getinfo

This will return some basic information about your node, including its current status and earnings. If everything looks good, then your node is up and running as it should be!

Conclusion

Setting up a Dinerocoin masternode is relatively simple and can be done by anyone with basic technical skills. By following the steps outlined in this guide, you will be able to set up your own masternode in no time. In addition to the rewards you will earn for running a masternode, you will also be contributing to the Dinerocoin network which helps to keep it secure and decentralized.