ICON (ICX) Wallet: How To Set It Up & Do The ICX Token Swap?
ICON (ICX) is a blockchain project that has been making waves in the industry. The ICX token swap was conducted on December 26th, 2018 and will be completed by January 31st, 2019. This guide will help you set up your wallet and do the token swap.
The iconex wallet is a cryptocurrency wallet that allows users to store, send, and receive various cryptocurrencies. This article will explain how to set up the wallet, change the token swap, and use the wallet.
Do you want to know which ICON ICX wallet is the best for storing your money and how to set it up? We’ve got you covered. We’ll also teach you how to execute your ICX token swap for mainnet tokens using the official ICON wallet. We’ll go right to it without wasting any more time.
What Is The ICONex, Exactly?
In a nutshell, ICONex is the official ICX wallet, and it was developed by the ICON foundation. The storage solution is very light and simple to utilize. It’s only accessible as a Chrome extension for now. This implies that in order to set up and utilize the storage solution, you must use Google Chrome as your online browser.
ICONex can perform everything you’d expect in terms of functionality, including sending and receiving ICX transactions. In case you didn’t know, if you still have old ERC-20 ICX coins, you’ll need to exchange them as soon as possible for mainnet tokens. The good news is that the ICX token exchange can be completed entirely inside the Chrome extension and is both simple and fast.
What Coins Does the Wallet ICON Support?
Mainnet ICX currencies, ERC-20 ICON tokens, and Ethereum are all supported by the solution. In the future, we anticipate it to support any new coins created on the ICON blockchain.
What Is The Best Way To Get It?
Currently, ICON has just one approved storage option, which was created by the ICON Foundation. Clearly, the ICON team has a strong motivation to provide a top-notch product that is both safe and secure. We admire the ICX team’s initiative in developing their own storage solution rather than relying on the community to do it.
The official ICX coin storage method.
Google Chrome is the only platform that is supported.
Send and receive ICX currencies, as well as exchange ICX tokens for mainnet tokens.
Now is the time to get the best ICX wallet!
You will be sent to the Google Chrome store after clicking the link above. To download, click the ‘Add To Chrome’ button.
After that, click the ‘Add Extension’ option.
After that, the extension will be installed on your browser. To open it, click the ICON logo in the upper right corner, and you’ll be prompted to create a new wallet.
If you have ICX Mainnet Tokens, you may get started right now.
You will have mainnet tokens if you have your ICX coins held at any of the following exchanges on June 20th and 21st, 2018. This is due to the fact that these exchanges allowed the ICX token switch and performed it for you automatically.
This implies that you have the old ICX tokens if you store your money on another exchange or keep them in an Ethereum wallet. To understand how to get started, go forward to the ICX ERC-20 token portion of this tutorial.
The good news is that if you already have mainnet tokens, setting up ICONex will be a breeze. To begin, choose ICON as the cryptocurrency to be added.
Then give your account a name and a password, and click ‘Next.’
Make sure you download and save your keystore file. We suggest saving it on a flash drive and erasing all traces of it from your computer.
Following that, you’ll see your private key. It’s a good idea to print this and keep it in a plastic ziplock bag at all times. This will safeguard your private key from water damage.
You’re all prepared and ready to go. That’s all there is to it.
What Can You Do With Your ICX Mainnet Wallet?
To make a deposit, go to the deposit screen by clicking on the ‘ICON’.
Your deposit address will then be shown. To transfer ICON coins to your balance, enter this as the receiving address.
To send money from ICONex, go to the transfer page and type in the address to which you wish to send ICX coins.
How Do I Set Up My ERC-20 Tokens?
The next step is to choose ‘Ethereum’ after installing the ICON Chrome extension.
Make a secure password and give your account a name.
After that, you’ll have the option of creating a backup. Save the keystore file to your computer. We suggest saving it on a flash drive and then deleting it from your computer. It’s critical to keep your keystore file secure since anybody may access your ICX coins if it’s used in conjunction with your password.
Your private key will then be presented to you. We suggest printing and keeping this document securely.
Finally, you’ve got everything set up and ready to go.
How To Do An ICX Token Swap?
There is an option for Ethereum and ICON on the ICONex home screen. Click on the ‘ICON’ to deposit your ICX ERC-20 tokens.
The address of your deposit will subsequently be shown. Send your ICX coins to this address, as well as a few dollars worth of Ethereum to the same address. The ETH is required to complete the ICX token swap smart contract.
Click the ‘Swap’ button when your ETH and ICX coins have reached your balance.
The instructions for the switch will be the first item you see. We suggest that you read them thoroughly.
After that, you’ll be prompted to establish an ICON mainnet account to get your new tokens. Create a username and a password.
Save the keystore file to a safe location.
Your private key will then be presented to you. We suggest printing it out and keeping it in a waterproof container.
Finally, you’ll be prompted to specify the amount of ICON coins you’d want to exchange. Simply select the ‘MAX’ button to ensure you have enough Ethereum to complete the transaction. Then press the ‘Complete’ button.
Finally, a final confirmation of the token exchange will be sent to you. Make sure all of the information is accurate before pressing the ‘Complete’ button. Within 24 hours, your ERC-20 tokens will be exchanged for mainnet tokens.
You now know all there is to know about ICONex. We like how easy it is to use, as well as the fact that it was developed by the ICON Foundation. Our only criticism is that it does not support mobile devices or platforms. We’d want to see a mobile app as well as the ability to utilize the ICONex with different web browsers.
DISCLAIMER: The activity of the cryptoassets discussed in this paper is uncontrolled. This post is not intended to provide financial advice. Always do independent research.
The icon staking wallet is a cryptocurrency wallet that allows users to stake their coins. This means that the user will receive rewards for holding the tokens, rather than trading them.
Frequently Asked Questions
How do I use icon wallet?
You can use icon wallet to send and receive payments from other people. To do this, you need to have a bitcoin address that is associated with your account. This address will be displayed in the top right corner of your Icon Wallet app.