How to Automatically Send Your Staking Rewards to a Bittrex Account

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staking

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How to Automatically Send Your Staking Rewards to a Bittrex Account

This tutorial will walk you through the steps of setting a Bittrex address as a default address to receive your staking rewards. That means everytime you will earn a staking reward, it will be automatically sent to your Bittrex address, making your coins ready to trade as soon as they are confirmed.

Thanks to our great community member Ben for putting this tutorial together!

Requirements

Before starting the setup process, make sure you have:

  • An active cold staking node connected to the Particl blockchain and fully synced

  • A Bittrex account

The Simple Procedure

1- Log in to your Bittrex account and copy the provided PART deposit address

2- Access your staking node from a terminal and enter these commands:

cd

cd particlcore

./particl-cli getnewaddress

cd

cd partyman

./partyman stakingnode rewardaddress “Your previously generated address here

cd

cd particlcore

nohup bash -c ‘while true;do ./particl-cli sendtoaddress “Your Bittrex Address here1; sleep 3600; done’

What does the script do?

nohup – executes the command in the background, allowing you to exit your staking node’s VPS or RPi and still have the command be automatically executed

bash -c – indicates the following command will be a bash command

while true;do – indicates a withdrawal attempt is executed every X seconds (in our case, 3,600 seconds)

./particl-cli sendtoaddress “Your Bittrex Address here” 1; – Indicates the script should attempt to withdraw X 1 coin every hour (the number of coins withdrawn can be customized to your needs)

sleep 3600; – indicates the command should be automatically executed once every 3,600 seconds (or 1 hour)

done – indicates the end of the bash command

Why can’t I simply redirect the staking reward directly to my Bittrex address?

When sending a staking reward to a certain address, the transaction has different attributes than a regular transaction. Moreover, Bittrex has set up its addresses to only recognize regular transactions. As such, it is necessary to create an additional hoop in the process so that the final transaction headed towards Bittrex is a regular transaction.

:warning: If you inadvertently sent a staking reward directly to a Bittrex address, you can always contact their support team and they should still be able to help you.