The PIVX wallet allows you to protect, stake, and conceal your coins. It is an easy wallet to install and the PoS minting provides a profitable return.
Step 1. Download the PIVX wallet – Go to https://PIVX.org/Wallet/ and select your operating system. Windows, Mac, Linux, and a Mobile Android Wallet are your available options. A link to the source code on GitHub is here as well. Do not download your wallet from 3rd party websites. I will be using the Windows executable option for the rest of this tutorial.
Choose your operating system and the download will immediately start.
Step 2. The file you will receive will be named according to the version of the wallet. Today is September 29, 2017 and the version I received was named:
Your version may differ depending on the current release. The executable file was sent to my Downloads folder. Double-click it to begin the installation
Step 3. You may be prompted to give permissions for the program. I typically will choose the ‘Private’ option. You may also need to give your computer permission to make updates to your device. If so, click ‘Yes.’
Step 4. The installer’s Setup Wizard should now pop up. Press the Next > button at the bottom. The installer will ask you where you want to store the wallet files. The default Program Files folder is okay to use. Most digital currency wallets will install in your AppData/Roaming directory. If you have other wallets already, you may want to change your destination folder and install to C:\Users\UserName\AppData\Roaming\PIVX instead to keep them all in a central location (replace UserName with your user name).
Click Next > after choosing your Destination Folder.
Step 5. On the final setup screen you will be asked to select your Start Menu Folder. The default is fine. There is no reason I can think of to change it. Click the Install button when ready.
Step 6. When complete, you will need to press Next > again, and then confirm you are finished. The PIVX wallet will automatically start. There is a blue line across the bottom which will give you the progress as it synchronizes with the network. Once the synchronization is complete you will notice the spinning yellow arrows in the bottom right corner. This is the indication that the blockchain is downloading. You can choose to let this run and catch up by itself, which will take a few hours, or you can attempt to speed up the process by applying the bootstrap in the next step.
Step 7. A bootstrap file is a way to download the blockchain and quickly apply it instead of syncing using the wallet, which can take much longer depending on the size of the blockchain. I don’t want to spend a lot of time reviewing how to apply the bootstrap for PIVX for two reasons. First, PIVX does not have years of history, so syncing with the wallet currently takes only a few hours. Second, someone else has already done a quick tutorial on how to apply the most recent bootstrap. Take a look at the link below to see the instruction.
You will know the blockchain is completely synced when the circling yellow arrows turn into a green check mark. Please be sure this is the case before moving to the next step.
Step 8. Encrypt your wallet – It is very important to encrypt your wallet with a passphrase which is unique and easy for you to remember to secure your PIVX. In the Settings Menu within the wallet, choose ‘Encrypt Wallet.’
You will be prompted to enter your passphrase, and repeat it, and then confirm your desire to encrypt your wallet. Do not lose or forget this passphrase. It is required to take any actions within the wallet after this point.
Step 9. Backup your new wallet – This is the perfect time to save your wallet.dat file. It is a good idea to do this periodically also, but this initial wallet.dat file should get you back into this version of your wallet in the future.
In your wallet, in the File dropdown menu, is the option ‘Backup Wallet.’ I recommend saving this file to a flash drive, offline, and somewhere safe. Also, be sure to label it as the PIVX wallet and note the date. Think worst case scenario when storing this drive. It is the vault holding all of your PIVX in case anything gets corrupted, lost, stolen, or destroyed.
Step 10. Unlock your PIVX wallet for Staking – Under the Settings dropdown Menu choose ‘Unlock Wallet.’ I always check the ‘For anonymization and staking only’ box. After entering your passphrase your wallet will start staking. You can visibly see this by looking at the small lock in the bottom right of your wallet. It should appear to be unlocked.
Feel free to join the PIVX Slack Channel for any questions you may have related to the wallet. There is usually someone available in the #support channel able to help you get started.