- 1 Some initial questions first
- 2 Installation (Microsoft Windows)
- 3 Installation on multiple devices
The following guide will explain how to set up an electronic wallet for Gridcoins – the Gridcoin client.
Some initial questions first
What is mining?
Mining means being paid for research activity done by the BOINC Manager, see BOINC installation guide.
Why are there 2 clients?
Maybe you read on gridcoin.us about 2 different clients, the classic and the research client. The classic client works with an old algorithm which was replaced by the new and superior research algorithm. As Gridcoin Classic will be terminated in April 2015, you should install Gridcoin Research.
Is it sufficient to install the Gridcoin Research client?
As already mentioned in the introduction, you do not have to install the research client if you are an investor.
Can I mine on Linux?
Yes, Gridcoin is a cross-platform coin. A guide to mine on Linux is under construction.
Do I need coins to start mining?
Yes. A central element of the network security within the Gridcoin network is the so called “stake” mechanism. You can start staking as soon as you have a few coins. Once you’ve started staking, you are part of the transaction history, so you are part of the network. You can buy your first coins at exchanges like bittrex.com and c-cex.com or you can claim your first 20 Gridcoins for free at uscore.net.
I have 10 computers. What should I do?
It is sufficient to run the Gridcoin client on one of these computers if you use the same email adress everywhere.
Installation (Microsoft Windows)
Download the MSI-Installer: download.gridcoin.us/download/downloadstake/GridcoinResearch.msi
Open the file in the download folder or directly from the Browser. If you are asked to run the file, you click yes.
After the installation window opened, you click “Next”.
In the next window you can choose the installation directory. If possible, use the default location to prevent additional steps. If you change the direction, you will need the used path later.
Click on the “Next” button to install the program.
After installing go to the Gridcoin installation folder. Create a shortcut of the gridcoinresearch.exe to place it on your desktop. Right-click on the shortcut on your desktop and go to the preferences. “Run as administrator” has to be enabled. Now you start the Gridcoin wallet by a double-click on the shortcut. If any firewall shows up, you have to let Gridcoin pass the firewall. As soon as the client starts you are asked to enter your BOINC email address. Enter BOINC email address.
If you do not want to mine, just click “OK” (or “Cancel”).
A window should open, click “OK”.
In case you clicked “Cancel”, you will see the message showed below.
If you delete the file “gridcoinresearch.conf” in the displayed path, you can retype the email address after the next start of the Gridcoin client. You can also put your email address into the config file manually. To find the displayed path you have to enable “show hidden files” in the Windows configuration. Open “gridcoinresearch.conf” with a text editor like Notepad and put in the line email@example.com in an own line.
Now let the client synchronize with the network. This can take some time. The client is sync with the network, if the red text saying “out of sync” is gone.
Congratulations, you have a running Gridcoin wallet. Now you need your first coins.
Use of the wallet
First you should encrypt your wallet with a passphrase (Settings > “Encrypt wallet”)
Then you can unlock your wallet. You will need that to stake to get interest and payment of research.
In order to get your first Gridcoins by purchasing them at exchanges or by signing up on uscore.net, you have to know your wallet address (also called “public key”). This is a number like your bank account number to send money to. You can create a new one by clicking on “Receive coins” > “New Address” > OK (Don’t forget to set up a label as you wish). You can simply copy and paste this number by right-clicking on the address.
Now you can start mining or just getting interest on staked coins!
If you want to learn more, you can visit http://wiki.gridcoin.us/FAQ or the development forum at https://cryptocointalk.com/topic/1331-new-coin-launch-announcement-grc-gridcoin.
Have fun in contributing towards scientific projects in combination with earning Gridcoins!
Installation on multiple devices
Many users want to use various devices like desktop, laptop or smartphone to let BOINC run in parallel. If you want to know how to accomplish this, read into “Use BOINC on multiple devices with BAM”.