Prerequisites for opening a Lightning Bitcoin node include the amount of Bitcoin to fund the Lightning channel, fiat money to purchase hardware equipment, and a Lightning -compatible wallet.
Note that the Lightning node is a non-mining node, meaning you are not mining Bitcoin but it is important for Bitcoin block validation. Validation Node is the most common name for this. MyNode and Umbrel are the two most popular custom hardware options for node validation. In just a few simple steps, you can set up your new myNode device.
To get started, download the myNode image for your device type and follow the instructions on the download page to flash it to your SD card. After that, turn on the device and connect an external SSD. You will be asked to enter your product key. You can select this option if you are using Community Edition. If not, enter the product key sent via email or that can be found on the bottom of the device.
The device will then start synchronizing Bitcoin Blockchain! Depending on your device and network capacity, this process may take several days. The web interface of the myNode device will show the current sync status. The device will automatically connect to the Bitcoin network and display the main application page once the initial synchronization is complete.
The main myNode home page will appear when the myNode device is ready. If you like Linux, you can connect to myNode devices via SSH. You can connect to the gadget using an IP address or host name.
Use the default credentials as Username: admin and Password: bolt (we recommend changing the password) to start using all the features offered by myNode. The next step is to create a Lightning wallet on your myNode. Go to the main myNode page and click the “Flash Wallet” button to create a wallet. After that, click “Create Wallet” to get the seed phrase.
This phrase is important, and anyone who knows it can access your money. Take this sentence as a backup, and don’t tell it to anyone! Once you have written the seed word, click “Continue.” Re -enter the seed phrase on the next page to make sure the backup is made correctly. To create a wallet, click “Create.”
If your words are correct, you will be redirected to the main Lightning page, where the Lightning wallet will start syncing and setting itself up. The Lightning wallet should be ready in a few minutes, and you should see a page similar to this:
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