How to set up a Bitcoin Node with MyNode on a Raspberry Pi 4

March 25, 2024

Why run your own bitcoin node?

For bitcoin to function reliably and securely, it relies on the voluntary participation of thousands of individuals worldwide. Nodes, which make up the bitcoin network and verify transactions and blocks, are crucial to this process. There are many reasons to consider running your own bitcoin node, including personal benefits and the benefits to the security and resilience of the bitcoin ecosystem. The following article explains some reasons to run your own bitcoin node:

Reasons to run your own Bitcoin node

What’s MyNode?

MyNode is a platform that provides uptime, reliability, ease-of-use and a huge variety of applications! By integrating a number of Bitcoin-related open-source projects, it provides access to Bitcoin and Lightning along with a number of other features.

By running Bitcoin and Lightning on your myNode device, you maintain all the security and privacy originally intended in the Bitcoin protocol. Your transactions are verified by your local node, removing the need to trust online 3rd parties for spending or verifying funds.

How to set up a Bitcoin Node?

To set up a Bitcoin Node with MyNode on a Raspberry Pi 4, you need to follow the following steps:

Step 1: Buy the parts

You will need to buy the following parts. You can buy them using the Amazon or AliExpress affiliate links in this article to support us.

Raspberry Pi 4

Pick 8 GB RAM for maximum performance.

Wrap your new personal server in a nice box.

Some good options on Amazon:

Some good options on AliExpress:

Power Supply

Make sure to use the official Raspberry Pi power supply to prevent any unexpected issues.

2 TB or more is recommended.

Some good options on Amazon:

Some good options on AliExpress:

Storage Drive’s Enclosure

To connect the storage drive to the Raspberry Pi via USB.

Some good options on Amazon:

Some good options on AliExpress:

microSD card

The microSD card is only used to run the firmware. All of your apps and data are stored on the storage drive. You will need a 32GB+ microSD.

Some good options on Amazon:

Some good options on AliExpress:

MicroSD Adapter (Optional)

You will need to buy an adapter if your computer doesn’t have a MicroSD slot.

Some good options on Amazon:

Some good options on AliExpress:

Ethernet Cable(Optional)

You can connect your Raspberry Pi to the internet using Wifi or Ethernet. If you choose Ethernet, you will need an Ethernet cable to connect to your router.

Some good options on Amazon:

Some good options on AliExpress:

Step 2: Assemble the Node

Assembling the node is pretty easy. You just need to:

Put the Raspberry in its case
Put the storage drive in its enclosure
Connect the storage drive into any of the two USB 3.0 ports (blue colored) on the Raspberry Pi
Connect the Raspberry to your router using the ethernet cable
Connect the power supply to the Raspberry. DON’T CONNECT THE POWER SUPPLY TO THE POWER YET

Step 3: Download the Firmware

Download the latest firmware version from the official website:

Download

Step 4. Download Balena Etcher

Download and install Balena Etcher on your computer. It is required to flash the firmware file that you downloaded in the previous step onto the microSD card.

balenaEtcher — Flash OS images to SD cards & USB drives

Step 5. Plug the microSD card into your computer

You might need a card reader if your computer doesn’t have one. Here’s a good one on Amazon.

Step 6. Flash the Firmware

Open Balena Etcher and flash the downloaded firmware file on the microSD card. You need to follow these steps:

Pick the Flash from file option

Pick theSelect Target option

Check the SD Card and click on Select

Click on the Flashoption

When finished, you will see a Flash Complete legend.

Step 7. Insert the microSD card into the Raspberry

After the flash is successful, remove the microSD card from your computer and insert it into the Raspberry Pi.

Step 8. Power up

Power up the Raspberry Pi to turn it on.

Any existing data on the SSD will automatically be deleted when you turn on the Raspberry Pi.

Step 9. Wait until MyNode is accesible

After some minutes, your MyNode will be accessible at http://mynode.local on any device that’s connected to the same network as the Raspberry Pi. If you can’t access your MyNode, you can use Angry IP Scanner to find the IP address of your MyNode and type that in the browser instead of http://mynode.local.

Step 10. Configure MyNode

Choose the Community Edition option

Next, the device will begin syncing the Bitcoin Blockchain! This process can take 6+ days, depending on your device and your network bandwidth. The myNode web interface will show you the current status of synchronization. Once the initial sync is completed, the device will automatically stay synchronized with the Bitcoin network and display the main application page.

More options for Raspberry Pi 4

How to set up a Bitcoin Node with Umbrel on a Raspberry Pi 4

How to set up a Bitcoin Node with Start9 on a Raspberry Pi 4

How to set up a Bitcoin Node with Citadel on a Raspberry Pi 4

How to set up a Bitcoin Node with RaspiBlitz on a Raspberry Pi 4

Options for Raspberry Pi 5

How to set up a Bitcoin Node with Umbrel on a Raspberry Pi 5

How to set up a Bitcoin Node with Citadel on a Raspberry Pi 5

How to set up a Bitcoin Node with MyNode on a Raspberry Pi 5

How to set up a Bitcoin Node with RaspiBlitz on a Raspberry Pi 5

Visit our Website

With so many Bitcoin nodes on the market, it can be challenging to choose the right one for your needs. That’s where our Bitcoin Nodes Comparison TheBitcoinHole.com website comes in. You will find the most comprehensive and honest resource for comparing the features of the top Bitcoin nodes.

Compare Bitcoin Nodes

Support Us

There are different ways to support our work:

With Bitcoin Lightning using Alby
With PayPal or a credit card using Ko-fi

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