v2rayN is the most widely used V2Ray / Xray graphical client on Windows. It carries no servers of its own — it only manages nodes, sets the system proxy and drives the core. Here is the process in the order you actually do it.
1. Download the right build
Windows users should pick the archive named windows-64-SelfContained. It bundles the .NET runtime and runs straight after extraction. If you grab a build without “SelfContained”, install the .NET 8 Desktop Runtime first, otherwise double-clicking does nothing.
2. Extract to a permanent folder
Unzip it somewhere that won't be cleaned out, for example D:\v2rayN — not the Downloads folder or Desktop. Keep the path free of spaces and non-ASCII characters; some builds are sensitive to them.
3. First launch
Double-click v2rayN.exe. On the first run the Windows Firewall may prompt you — tick “Private networks” and allow it. A “V” icon in the tray means it started correctly.
4. Import nodes
With a subscription link: main window → Subscriptions → Subscription settings, paste the URL, save, then “Update subscription (with nodes)”. With a single share link: copy it and press Ctrl+V in the main window, or use Servers → Import bulk URL from clipboard.
5. Set the system proxy
Right-click the tray icon → System proxy → Auto-configure system proxy. Double-click a node to test its latency, and once it responds, open a browser to confirm you can reach blocked sites.