Quickly upgrade those Condominium Masternodes, 250k collateral update

Dec 31, 2018 · 9 min read

Fast and Secure Setup using NodeValet.io

by AKcryptoGUY


At first I was dreading the collateral update coming to Condominium masternodes this week, but then I found out how quick and easy it would be to set them up using NodeValet’s free masternode installation service.

Before You Begin

  • Head over to NodeValet.io and click the Get Started” link. Then use one of our referral links there to create a hosting account at Digital Ocean or Vultr. Digital Ocean will give you $100 of free credit which will easily run all your masternodes for 2 months. https://www.digitalocean.com/?refcode=bd6020302487 https://www.vultr.com/?ref=7568060
  • Gather up 250,000 Condominium for each masternode you want to start. (Two masternodes, for example, will require 500,000 Condominium, plus a negligible amount for transaction fees)
  • If you are swapping out old masternodes for new ones due to the collateral update, it’s easiest to transfer all of your CDM to one address to make sure your old masternode addresses have 0, otherwise the masternodes won’t start due to collateral transactions not being recognized.


Once you have completed all of the steps listed in the “Before You Begin” section, you are ready to deploy your VPS and start your masternodes.

Prepare your local wallet

  1. Download and run Condominium-QT on your local computer. This will be your cold wallet where you keep your Condominium safe. It will control your masternodes stored on the VPS. The VPS doesn’t store any of your Condominium.
  • Open Tools & select “Debug console”
  • Obtain a masternode account address for each masternode you will create even if you don’t have enough CDM to fund them all at the moment (You can name them whatever you like)
getaccountaddress CondoMN1
# CondoMN1 address is CeDqBNv1151zqGDjz9AiXVKjrkxjHu9wgT
# CondoMN2 address is CcYvLD4QZQjj8haTRpvENyESsPRU9re5eQ
# CondoMN3 address is CfQn84UpXniiyUeDyDCn3RGbePqW7Lfipn
# CondoMN4 address is CGu5NW5XHRZicjqaZ9DYFJ7xwSuwCXD6gn
  • I only have enough to start 3 masternodes right now, but since I’m very close to a 4th I’m going to have NodeValet.io set it up for me on my VPS and will be easy to activate it once I have enough CDM to fund it (that’s why I created 4 masternode addresses instead of 3)
  • Use “Add Recipient” to send multiple masternode funding transactions at the same time
  • Send the collateral transaction
  • Keep the masternode.conf file open and do not exit Condominium-QT yet

Briefly enable the API key for DigitalOcean or Vultr

How to Enable the API at Digital Ocean

  1. Click “API” under “Manage” menu on the left
  2. Click “Generate New Token” and give it a name
  3. Copy the “Personal access token” into your clipboard or save it —it can never be displayed again

How to Enable the API at Vultr

  1. Click “Account” on the Left Menu and then click “API”
  2. Click “Enable API”
  3. You may also regenerate a new API key or disable it altogether when NodeValet has finished configuring your masternodes
  4. Copy the “API Key” into your clipboard by clicking on the copy button

Deploy your Masternodes at NodeValet.io

This is where the magic really happens. NodeValet is going to do the heavy lifting for you so you can enjoy the rest of your day without mucking through lots of command line interface and copying and pasting different keys.

  • Choose your provider (Vultr or Digital Ocean) from the list and enter your API Key/token
  • Next, select “Test API Connectivity” to confirm that your API is working
  • If connectivity is successful, the next thing you’ll do is enter the requested information to deploy your masternode VPS on your own account
  • Select a Plan large enough to support the number of masternodes you are configuring, enter a location, set the coin to Condominium, enter a prefix (name) for your masternodes, and then enter the masternode addresses
  • Remember earlier when I chose to build the 4th masternode even though I could only afford to fully fund 3 of them at this time? You’ll notice that the last masternode in the list is commented out with a “#” in front to signify that it should be ignored by Condominium-QT since it isn’t finished.

Start your masternodes

  • The final step is to start your masternodes
  • Exit and restart your local Condominium wallet
  • Click on the masternodes tab to see your new masternodes in the list
  • From Debug Console of your local wallet, enter the following command and press enter to start each of your masternodes.
startmasternode alias 0 CondoMN-18962-01
  • After you start your masternodes, their status will change to ENABLED

Check in on your VPS Masternodes

If you used Digital Ocean, they will send you an email which describes your new VPS and contains the root password. You will be required to change the root password the first time you login, so please secure it with a strong password and don’t use Admin or Password123 because you will get hacked. On Vultr, the IP address and root password can be found in your dashboard.


Masternode Monitoring

Masternodes.online makes it very easy to monitor your Condominium masternodes and set up email notifications. This will immediately let you know if your masternodes become offline. That way you can restart the VPS or otherwise fix the problem before you miss out on a masternode reward.

Tips and Troubleshooting

  • Wait about 2 hours after your VPS is complete for the chain to fully sync before you start your masternodes
  • When you have sent the collateral transaction to fund that final masternode, remove the “#” to uncomment it and replace the dummy text “collateral_output_txid tx” with your actual outputs and restart the wallet (you don’t even need to log into the VPS because it will already be synced)