Getting Started with PIVX StakeBox
StakeBox and PIVX have partnered together to bring you the PIVX StakeBox - a device that allows you to stake your PIVX cryptocurrency and make a return on your investment.
Staking PIVX is the process of securing the network with your coin weight, which in turn rewards you with new PIVX coins.
This quick guide will show you the steps to take to start staking with your PIVX 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 PIVX StakeBox
- USB keyboard & mouse
Assemble your hardware
- Connect your HDMI cable to your TV/Monitor
- Connect your Keyboard & Mouse
- Insert your PIVX microSD card into the SD slot (If purchased separately)
- Connect the micro USB power adapter
Connecting to Internet
Before we start working with the zPIV wallet we must first make sure that we have an internet connection in order to download the blockchain and start staking. There are currently two options with the PIVX StakeBox; firstly you can connect and ethernet cable from your router/switch or you can connect to your local Wi-Fi router using the built-in Wi-Fi.
To connect to your wireless router follow these steps:
- When your StakeBox boots into the desktop you will see a menu bar in the upper right hand side.
- Here you should see an icon with two red crosses on it, which indicates that the Wi-Fi is not connected to a wireless router. Click on this icon and select "Turn On Wi-Fi", you should then see a list of available Wi-Fi hotspots, where you should see the name of your local router.
- Click on the name of your local hotspot and then enter your Wi-Fi password to connect to it. Note: your Wi-Fi SSID and password can usually be found on the back of your router or in the manual.
- Once you have connected you should see the Wi-Fi icon change and if you hover your mouse of it you will see your IP address and other information about the wireless connection
Ethernet is as simple as connecting an Ethernet cable from your StakeBox to the back of your router, you should see a green light on the Ethernet port on your StakeBox to indicate that it has successfully connected. For Ethernet DHCP settings you will need to refer to your instruction manual for your router.
Launching zPIV Wallet
PIVX is already installed on your StakeBox and simply just needs launching from the Desktop. There should be a Desktop icon called "PIVX", double-click on this and then select "Execute" to launch the zPIV wallet.
When the wallet opens for the first time you will see a welcome screen, where you need to select the directory for the PIVX data to be installed. Here you can simply leave as the default settings and click OK.
The zPIV wallet will now begin to install and synchronise the blockchain, which may take some time.
Once finished you will see the PIVX Core wallet.
Encrypting your wallet
- Firstly, and more importantly we need to encrypt your wallet to make sure all your PIVX coins and data is safe. To do this go to Settings in the menu and then click Encrypt Wallet
- Here you must type in a passphrase that is at least 10 characters long. Warning: Do not lose this passphrase otherwise you will not be able to access your wallet
- Enter your passphrase again to confirm it was correct and click ok
- You will receive a warning notification that if you encrypt your wallet and lose your passphrase you will lose all of your PIVX coins. If you are happy to proceed then click Yes to continue
- Once your wallet has finished encrypting you will receive a confirmation message and you will need to restart the PIVX wallet for the changes to take effect. Click OK to close the application
- Once the application has closed go-ahead and launch it again from the Desktop
How to unlock your wallet for staking
In order for you to start staking it is important that you unlock our wallet first, otherwise the staking process will not work as the application cannot access your wallet.
- Go to Settings > Unlock Wallet in the menu
- Enter your passphrase used to encrypt your wallet and click OK to unlock
- Your wallet is now unlocked and ready for staking. You should see in the bottom right hand corner the unlocked padlock symbol, which indicates the wallet is unlocked.
Note: When you close the PIVX wallet your wallet will automatically lock itself for security
Now that we have encrypted your wallet it is time to start sending PIVX coins to your wallet for staking. To do this you will need to know what your receiving address is.
- In the main application click on File > Receiving addresses
- Here you will see a list of available receiving addresses where you can send your PIVX coins to.
- If you wish to create a new address you can click on New in the bottom left to generate a new address
Note: If your wallet is not unlocked then you will be prompted to enter your wallet passphrase to unlock it when creating a new address
- Your new address will then be generated and you will see it in Receive Coins tab
Once the PIVX wallet has finished synchronizing the blocks and as long as your wallet is unlocked and you have coins in your wallet, the staking process will begin automatically.
How to update PIVx
Step 1 - Open up the web browser on your StakeBox and go to https://github.com/PIVX-Project/PIVX/releases
Step 2 - Download the latest file labelled "arm linux"
Step 3 - Right click on the downloaded folder and select "Extract To...", click on the folder icon and select the directory "Home".
Step 4 - Open up a terminal window and type in the following command:
sudo nano Desktop/PIVx
Edit the line to the new directory which should be something like:
Save with CTRL+O and then exit with CTRL+X
Step 5 - Finally open the PIVx application as normal and it will be the latest version that we downloaded.
For further information on the PIVX cryptocurrency please visit https://pivx.org and if you have any queries you can visit any of the community channels at https://pivx.org/community/