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Insert your QTUM microSD card into the SD slot (If purchased separately)
Connect the micro USB power adapter
Once the StakeBox begins to boot give it a few minutes whilst it expands the storage of the full size of the SD card. It may reboot a few times whilst it does this. Once it finished booting you will be presented with the login screen.
The default login credentials are:
After entering the default credentials you will be asked to change the password and then you will login to the desktop.
Updating QTUM to latest version
To update the qtum Stakebox to the latest version of the Qtum Core Wallet you will need to open a terminal window. Click on the terminal icon on the top of the Desktop:
If you are running QTUM for the first time, then we recommend that you have the latest version. To do this you will need to run the following command from the command line:
Note: We always recommend you backing up your wallet before performing updates, just in case. See our article on backing up your wallet here.
You can check which version of the QTUM Core you have by typing in the following command:
Launching QTUM Service
To launch the QTUM Core Wallet you will need to click on the Qtum icon on the desktop and this will start the application.
You will be prompted to select a install directory for the Qtum files. Just use the default directory and then click ok.
Encrypting your wallet
Encrypting your wallet is an important aspect of keeping everything safe. You can encrypt your wallet at any time but we recommend doing it at this stage in the guide. To Encrypt your wallet with a password go to Settings > Encrypt Wallet...
Enter a password for your wallet
Confirm and wait until the encryption process has completed
You can now send QTUM coins to the address listed in Windows > Receiving addresses . You can also create new addresses.
Note: The transactions require at least 500+ confirmations before they become mature enough for staking.
By this point you should now have waited until you have at least 500+ confirmations on your received transaction, you are now able to start the staking process.
Note: You cannot stake coins with a locked wallet
First step is to make sure you can access your wallet otherwise you will not be able to stake. To decrypt your wallet go to Settings > Unlock Wallet..
Enter your password to unlock your wallet and click OK
Splitting your balance into multiple transactions
Each transaction sent to a QTUM wallet takes 500+ blocks to mature and start staking. The network weight is the total number of staking QTUM. This weight determines the probability 1 QTUM will mine the next block; the larger the weight, the lower the probability.
Currently, a QTUM block is set to be mined roughly every 2 minutes. Each block rewards its miner with 4 QTUMs plus the fees in the transactions within the block. If an unspent transaction in a wallet mines a block, it is considered to have been “staked” and has no chance to mine a block for the next 500 blocks. As such, it is expected that the number of staking QTUM in a wallet is lower after the wallet has mined a block. This is also why it’s recommended that you split your wallet’s balance into multiple transactions. The more transactions you have, the less QTUM is removed from staking once you mine a block. Depending on the total number of QTUMs you have, you might want to consider 250-1000 QTUMs per transaction.
There is no concept of “progress” in staking QTUM. Mining a block is completely based on probability. You can think of it as a raffle being held every time a new block is generated. 1 QTUM in a wallet is one entry into the raffle for that wallet.