Em um Ubuntu limpo 12.04, eu segui as instruções encontradas aqui: Como instalar o Linux Dynamic Update Client no Ubuntu e instalar com sucesso o seu cliente. Eu adicionei alguns comandos para instalar componentes ausentes / necessários ...
$sudo su -
#cd /usr/local/src
#apt-get install wget
#wget http://www.no-ip.com/client/linux/noip-duc-linux.tar.gz
#apt-get install make
#apt-get install gcc
#tar -xf noip-duc-linux.tar.gz
#cd noip-2.1.9-1/
#make install
if [ ! -d /usr/local/bin ]; then mkdir -p /usr/local/bin;fi
if [ ! -d /usr/local/etc ]; then mkdir -p /usr/local/etc;fi
cp noip2 /usr/local/bin/noip2
/usr/local/bin/noip2 -C -c /tmp/no-ip2.conf
Auto configuration for Linux client of no-ip.com.
Please enter the login/email string for no-ip.com ############
Please enter the password for user '###########' ****************
Only one host [##########.no-ip.biz] is registered to this account.
It will be used.
Please enter an update interval:[30]
Do you wish to run something at successful update?[N] (y/N)
New configuration file '/tmp/no-ip2.conf' created.
mv /tmp/no-ip2.conf /usr/local/etc/no-ip2.conf
Foi isso.