How to: Safely remove rewards from your Dash Masternode
One of the main things you need to be careful is to not remove the initial 1,000 Dash you deposited to run the masternode. If you do, then the masternode will stop working / generating rewards. I kind of miss the previous functionality of “Donation”, as I would just donate all rewards and collect them automatically that way. However, somewhere along the several updates from the second half of last year we lost that for some reason unknown to me.
Getting back on topic, there is a way called “Coin Control” which is going to help us not mess up our Masternode. So our first step is to enable this feature:
- From your Dash wallet, open the Preferences panel. (In Windows, select Settings –> Options.)
- Click the Wallet tab.
- Check the box next to “Enable coin control features.”
- Click OK to save and exit.
Now, we are going to move to the next phase which is to lock your 1,000 transaction. This is important, you can only withdraw your rewards. If you withdraw from the initial 1,000 Dash even if you leave rewards so that it adds to 1,000 or more… it won’t work. It isn’t just a matter of leaving 1,000 Dash behind, you need to leave the original 1,000 in the account for the Masternode to continue working!
To lock your initial 1,000 Dash, follow these steps:
- Click the Inputs button from the Send screen of your Dash wallet.
- Find your Masternode and click the arrow in the left hand column to see all rewards. I just sort by size as 1,000 Dash is my largest transaction.
- Right click your initial 1,000 Dash deposit and select Lock Unspent.
Once you have done that you can use the tree mode to select all the Dash available in a masternode/account and transfer it. Just double check your 1,000 are locked (and not selected, if you locked it correctly you should not be able to select them and they would be greyed out). Make sure everything looks good and you should be good to go to withdraw your rewards!