Tutorial for Wallet Application Basics and Coin Staking

Tim Stevens
Nov 10 · 10 min read

Hello and Welcome to the EUNO · Tutorial for Wallet Application Basics and Coin Staking. In this tutorial, you will learn how to download the EUNO wallet, Encrypt and Backup your wallet, Receive and Send EUNO coins, and Stake your EUNO coins.

1. EUNO Wallet Installation

Download the EUNO· wallet that is suitable for your operating system from the official EUNO coin website https://euno.co.

If you are using a Mac OS, you may need to go to: System Preferences > Security and Privacy and choose “Open anyway” in the General tab if your system does not automatically allow access after installing in Applications.

When you open your EUNO wallet application for the first time, you will read at the bottom left side of the wallet “Synchronizing with network…” next to a bar that indicates the status of your synchronization from the most recent mined block on the EUNO blockchain (Note that you can track transactions on the EUNO blockchain on https://explorer.euno.co).

At this point, you are connected and updating to the number of blocks that have already been processed by the network. Please be patient until your wallet is completely synchronized, it should not take too long.

Figure 1. Synchronizing Wallet on Windows OS

Once your wallet is completely synchronized with the network, you should be able to see a green check symbol at the bottom right side of the wallet — #4 in figure 2.

At the bottom right side of the wallet, you should also be able to see:

  • Key Lock Icon: Indicates whether you have unlocked your wallet with the encryption key — #1 in figure 2.
  • Upward pointing arrow: Indicates whether you are staking your coins. If the circle around the arrow is gray, you are not staking, if it is green, you are staking — #2 in figure 2. (See Section 4 on Coin Staking for more details).

Note: The letters “MN” replace the arrow symbol when you are running a masternode. For details on how to set up your own EUNO masternode, please refer to EUNO COIN Masternode Tutorial.

  • Connection status: Indicates your connectivity to the EUNO network. When you place the mouse pointer above this symbol, you will see the number of your active connections to the network — #3 in figure 2.

Figure 2: Icons at the bottom right rise of your EUNO wallet

2. Wallet Encryption and Backup

After the wallet is completely synchronized with the blockchain, we recommend that you Encrypt and Backup your wallet.

2.1. Encryption

You can encrypt your wallet in order to secure your coins by choosing Settings from the menu bar at the top of your wallet, and clicking on Encrypt Wallet. Choose a password that only you know, and that will be difficult for others to guess. Write it down and keep it in a secure place. After you write down your password, click on Encrypt. Note that it may look like your computer is freezing but let it run. Your wallet should close within a minute. Open your EUNO· wallet, and it is ready to use.

Note: If you lose your password, there is no way for the EUNO· TEAM to recover your coins. So please be very careful.

2.2. Backup

Another step that you may wish to take at this point is to backup your wallet. Choose File from the menu bar, click on Backup Wallet, and save the .dat file in a folder on your computer or an external disk. Your eunowallet.dat file can be reopened from a different downloaded wallet application in case you wish to access your wallet from a different computer or if for some reason you lose or delete your wallet application.

Figure3: Encrypt and Backup your Wallet

3. Receiving and Sending EUNO Coins

3.1. Receiving Coins

After you have encrypted and performed a backup for your wallet, you can now add and receive EUNO coins. To do so:

a. Select the Receive tab on the right hand side of the wallet.

b. Generate a new address by clicking on New Address. You will see a pop up box titled “New receiving address”.

c. It is not necessary that you Label your addresses to be able to receive EUNO coins. It is however advisable to do so for organizational purposes, especially if you will be generating more than one address on the wallet.

d. Check the Stealth Address box if you wish for your receiving address to be untraceable. This however is also optional.

e. Press OK. You will see your new generated address on the main window of the wallet application whenever you select the Receive tab. This generated address is your Public address. You can give it to a sender, or use it to send coins to yourself from an exchange or from another wallet or address.

Figure 4: Receive EUNO Coins into your Wallet

3.2. Sending Coins

You can send EUNO coins using two methods, either directly from a random address on your wallet, or by choosing a specific address and/or batch of coins inside your wallet, managed by Coin Control.

To be able to send EUNO coins, your wallet application should be fully Synchronized with the network, and Locked.

Note: If your EUNO wallet is unlocked for staking, the wallet’s security will prevent you from sending any coins. In that case, close your wallet, reopen it and do not unlock.

a. Select the Send tab from the Wallet’s side bar.

b. Next to Pay To: Type in or paste the EUNO address that you wish to send EUNO coins to.

c. You are free to keep the Label tab empty, but it is advisable to enter the name of the person you are sending the coins to in order to better keep track of your transactions.

d. Next to Amount: enter in the number of coins that want to send.

e. Proceed by clicking on Send at the bottom right corner of the wallet application. A screen pops up requesting that you confirm the amount and specified address. Review your send request and if it is correct, press YES. If your wallet is Encrypted, you should see a screen requesting your Passphrase. Enter your Password and press OK.

f. After pressing OK, you will see a popup screen informing you of a small transaction fee (0.000X EUNO Coins) to help support the network. Press Yes. Your transaction is complete.

Note: Do not send EUNO coins except to EUNO addresses; either independent wallets, or exchange wallets.

If you are sending coins to another EUNO wallet, the receiver should see the coins that you sent almost immediately, and confirmation of the transaction will follow in an estimated 2 minutes, the block time of a EUNO block. You can track your transaction in the Transactions tab in the main wallet sidebar. Next to your transaction, you should be able to see a Clock icon, which when you place your mouse pointer above, indicates the number of confirmations for your transaction. Once the transaction is completely verified, a check symbol will appear next to your transaction, and the receiver will now be able to use the coins that you sent. You can also track your transaction on https://explorer.euno.co using the address of either the sender or the reciever, or the transaction number.

Note: If you are sending coins to an exchange, it may take longer for the transaction to be complete. This delay is usually from the exchange’s side.

Figure 5: Send EUNO Coins

Figure 6: Tracking your Transaction Confirmations

Coin Controls Settings

If you have generated more than one address on your wallet, or one of your addresses contains more than one batch of coins, i.e. coins that are in separate groups inside one address, you can use the wallet’s Coin Control to choose the address from which you wish to send coins.

a. Under Settings at the menu bar of the wallet, select Options. You will see a popup screen with 4 separate tabs: Main, Network, Window, and Display.

b. Click on Display and check the first option: Display coin control features (experts only!) (Figure 7).

c. Press Apply, then OK.

Figure 7: Display coin control features (experts only!)

d. Select the Send tab on your wallet’s main sidebar. You should see a new box at the top of the wallet, titled: Coin Control Features (Figure 8).

Figure 8: Coin Control Features

e. In the Coin Control Features box, click on Inputs; you will see a new popup window including your address or addresses, with the number of coins in each (Amount), Label, Address, Date, and Confirmation Priority (Figure 9).

f. Next to each Address, there is a small arrow and a small checkbox. If you select the arrow, you will see the different batches of coins inside each address with checkboxes next to each.

g. Click on the checkbox next to the address/batch to choose which one you want to use in sending coins and press OK at the bottom of the screen.

h. Any coins that you send from your wallet will now be automatically sent from the selected batch/address.

Figure 9: Coin Control Inputs

4. Staking your EUNO Coins

Staking EUNO coins provides you with Proof of Stake (PoS) rewards, specified on the EUNO website (https://euno.co). PoS uses your EUNO coins to verify transactions on the network for which you are rewarded a predetermined number of coins. The time needed to receive your PoS reward depends on your network weight, i.e. the number of coins in your wallet, compared to the overall network weight.

When you open your EUNO wallet application, you will see at the bottom right side of the application a symbol of an upward arrow inside a circle. This symbol indicates whether you are currently staking your coins. When your coins are not staking the color of this circle is gray. If you move your mouse pointer above the arrow, you will see one of either messages (i) Not staking because wallet is locked, or (ii) Not staking because you have no mature coins.

In order to be able to stake, you have to first unlock your wallet (only if your wallet is encrypted), and wait for your coins to mature. The time needed for your coins to mature is 72 hours. This will be achieved after you leave your computer unlocked for 72 hours, at which point the arrow symbol will turn green and you begin staking. At this point, when you place your mouse pointer above the arrow, you should be able to see the message: Staking. Your weight is XXXX. Network weight is XXXX. Expected time to earn rewards is XX hours/days.

Figure 10: Coin-Staking Status

When your PoS verification is complete, you will see on your dashboard under Recent Transactions the image of a pickaxe with the number of coins that you have received as reward.

Note: POS rewards are equivalent in nominal value for all staking wallets. The only difference between wallets is the time needed to receive those rewards, and that is inversely proportional to the number of staking coins on the wallet. i.e. the more coins that you have, the faster the reward.

Figure 11: Coin-Staking Completion

After your coins have staked, you will have to wait another 72 hours for your coins to mature in order to be able to stake again. This however is not necessarily always the case since if you have enough coins and not all your coins were used during the first PoS verification, your coins will automatically batch, and a different batch will continue to stake, while the coins that completed the initial PoS verification, will need to mature again.

For example, if you have one address on your wallet holding 10,000 Euno coins, your first stake may only use 1,000 coins. After the stake is complete, your address will become batched whereby your remaining coins can immediately stake again, and the 1,000 coins that were used on the first stake will have to mature again for 72 hours.

Note: While you are staking your coins, you cannot send any coins from your wallet (Refer to Sending coins section).

Thank you for supporting EUNO· If you have any questions, technical difficulties or suggestions regarding this tutorial or EUNO· in general, please do not hesitate to contact us.

Telegram: https://t.me/EUNOofficial

Discord: https://discord.gg/tPFPuYT

writer credit: Banky Moon

EUNOcoin

EUNO· Privacy by choice cryptocurrency, looking to become a leading payment medium through #NFC mobile payments combined with blockchain technology. (X11 PoW/PoS)

Tim Stevens

Written by

EUNO - Director of Marketing

EUNOcoin

EUNOcoin

EUNO· Privacy by choice cryptocurrency, looking to become a leading payment medium through #NFC mobile payments combined with blockchain technology. (X11 PoW/PoS)

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