How to set up a Bitcoin Node with MyNode on a Raspberry Pi 4
Run your own node and achieve unparalleled privacy by connecting your wallet directly to your Bitcoin node.
Why run your own bitcoin node?
For bitcoin to function reliably and securely, it relies on the voluntary participation of thousands of individuals worldwide. Nodes, which make up the bitcoin network and verify transactions and blocks, are crucial to this process. There are many reasons to consider running your own bitcoin node, including personal benefits and the benefits to the security and resilience of the bitcoin ecosystem. The following article explains some reasons to run your own bitcoin node:
What’s MyNode?
MyNode is a platform that provides uptime, reliability, ease-of-use and a huge variety of applications! By integrating a number of Bitcoin-related open-source projects, it provides access to Bitcoin and Lightning along with a number of other features.
By running Bitcoin and Lightning on your myNode device, you maintain all the security and privacy originally intended in the Bitcoin protocol. Your transactions are verified by your local node, removing the need to trust online 3rd parties for spending or verifying funds.
How to set up a Bitcoin Node?
To set up a Bitcoin Node with MyNode on a Raspberry Pi 4, you need to follow the following steps:
Step 1: Buy the parts
You will need to buy the following parts. You can buy them using the Amazon affiliate links on this article to support me.
Pick 8 GB RAM for maximum performance. Buy on Amazon
Wrap your new personal server in a nice box. Buy on Amazon
Make sure to use the official Raspberry Pi power supply to prevent any unexpected issues. Buy on Amazon
2 TB or more is recommended. Buy on Amazon
To connect the storage drive to the Raspberry Pi via USB. Buy on Amazon
The microSD card is only used for running the firmware. All of your apps and data are stored on the storage drive. Buy on Amazon
MicroSD Adapter (Optional)
You will need to buy an adapter if your computer doesn’t have a MicroSD slot. Buy on Amazon
To connect the Raspberry Pi to your internet router. Buy on Amazon
Step 2: Assemble the Node
Assembling the node is pretty easy. You just need to:
- Put the Raspberry in its case
- Put the storage drive in its enclosure
- Connect the storage drive into any of the two USB 3.0 ports (blue colored) on the Raspberry Pi
- Connect the Raspberry to your router using the ethernet cable
- Connect the power supply to the Raspberry. DON’T CONNECT THE POWER SUPPLY TO THE POWER YET
Step 3: Download the Firmware
Download the latest firmware version from the official website:
Step 4. Download Balena Etcher
Download and install Balena Etcher on your computer. It is required to flash the firmware file that you downloaded in the previous step onto the microSD card.
Step 5. Plug the microSD card into your computer
You might need a card reader if your computer doesn’t have one. Here’s a good one on Amazon.
Step 6. Flash the Firmware
Open Balena Etcher and flash the downloaded firmware file on the microSD card. You need to follow these steps:
- Pick the
Flash from fileoption
2. Pick theSelect Target option
3. Check the SD Card and click on Select
4. Click on the Flashoption
5. When finished, you will see a Flash Complete legend.
Step 7. Insert the microSD card into the Raspberry
After the flash is successful, remove the microSD card from your computer and insert it into the Raspberry Pi.
Step 8. Power up
Power up the Raspberry Pi to turn it on.
Any existing data on the SSD will automatically be deleted when you turn on the Raspberry Pi.
Step 9. Wait until MyNode is accesible
After some minutes, your MyNode will be accessible at http://mynode.local on any device that’s connected to the same network as the Raspberry Pi. If you can’t access your MyNode, you can use Angry IP Scanner to find the IP address of your MyNode and type that in the browser instead of http://mynode.local.
Step 10. Configure MyNode
- Choose the Community Edition option
Next, the device will begin syncing the Bitcoin Blockchain! This process can take 6+ days, depending on your device and your network bandwidth. The myNode web interface will show you the current status of synchronization. Once the initial sync is completed, the device will automatically stay synchronized with the Bitcoin network and display the main application page.
Visit our Website
With so many Bitcoin nodes on the market, it can be challenging to choose the right one for your needs. That’s where our Bitcoin Nodes Comparison TheBitcoinHole.com website comes in. You will find the most comprehensive and honest resource for comparing the features of the top Bitcoin nodes.
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