ICONex Wallet ▷ Our experiences with the official ICON (ICX) Wallet!
Would you like to know which ICON ICX wallet is the best for storing your coins and how you can set it up? We have everything under control. We will show you how you can use the official ICON wallet to complete your ICX token exchange for mainnet tokens. Without further ado the bush, we jump in.
What is the ICONex?
In short, ICONex is the official wallet for ICX and was developed by the ICON Foundation itself. The storage solution is exceptionally light and easy to use. At the moment it is only available as a Chrome extension. That means you need to use Google Chrome as your web browser to set up and use the storage solution.
In terms of functionality, ICONex can do anything you would expect, such as sending and receiving ICX transactions. In case you didn't know, if you still have the old ERC-20 ICX coins, you need to exchange them for mainnet tokens as soon as possible. The good news is that the ICX token swap can all be done within the Chrome extension and is relatively easy and quick to do.
Wallet ICON: which coins does it support?
The solution supports Mainnet ICX Coins, ERC-20 ICON Token and Ethereum. We also expect it to support additional cryptocurrencies based on the ICON blockchain in the future.
How can I download it?
ICON currently only has one official storage solution developed by the ICON Foundation. Of course, the guys at ICON have a strong incentive to bring a top notch product to market that is both safe and secure. We love how the ICX team developed the storage solution themselves and didn't rely on the community to jump in and build one for them.
- The official way to store ICX coins.
- Supported platforms: Google Chrome only.
- Functionality: Send / Receive ICX Coins and ICX Token Swap for Mainnet Token.
Once you have reached the link above, you will be redirected to the Google Chrome store. Click the "Add to Chrome" button to download.
Then click the 'Add Extension' button.
The extension will then be added to your browser. Click the ICON logo in the top right corner to open it and you will have the option to create a new wallet.
Getting the setup: If you have ICX Mainnet Token
When you receive your ICX coins on 20. and 21. June 2018 stored on one of the following exchanges, you already have mainnet tokens. This is because these exchanges supported ICX token swap and they did it for you automatically.
This means if you store your coins on another exchange or keep them in an Ethereum wallet, then you have the old ICX tokens. Continue to the ICX ERC-20 Token section of this manual to learn how to set it up.
If you already have mainnet tokens, the good news is that ICONex will be especially easy to set up. To get started, choose ICON as the coin you want to add.
Then create a name, password and click on 'Next'.
Be sure to download your keystore file and keep it safe. We recommend that you save it to a flash drive offline and erase all traces of it from your computer.
Next you will see your private key. It's always a good idea to print this out and keep it in a zippered plastic bag. This will ensure that your private key is protected from water damage.
You are now prepared and ready to go. As simple as that.
How do I use my ICX mainnet wallet?
To make a deposit, click on 'ICON' to be taken to the deposit screen.
You will then be shown your deposit address. Enter this as the recipient address to send ICON-Coins to your credit balance.
To send money from ICONex, click the transfer button and enter the address you would also like to send ICX tokens to.
You have ERC-20 tokens: how do you set up?
After installing the ICON Chrome extension, select 'Ethereum' next.
Make sure you create a name and a strong password.
You then have the option of creating a backup. Download the keystore file. We recommend that you save it to a flash drive offline and erase it from your computer. It is important to keep your keystore file safe because when used in combination with your password, anyone can access your ICX tokens.
Next you will be shown your private key. We recommend that you print them out and keep them in a safe place.
Finally, you're set up and ready to go.
ICX Token Swap: How do you do it?
On the ICONex home screen, you will see an option for Ethereum and ICON. To deposit your ICX ERC-20 tokens, click on "ICON".
Your deposit address will then be displayed. Use this address to send your ICX coins to ICONex and make sure to send a few dollars worth of Ethereum to the same address. ETH is required to execute the smart contract for the ICX token swap.
When your ETH and ICX coins have reached your balance, click on the "Exchange" button.
The first thing you will see are the instructions for the swap. We encourage you to take the time to read them.
You will then be asked to create an ICON mainnet account for your new tokens, which will also be sent. Enter a name and password.
Download the keystore file and save it safely.
You will then be shown your private key. We recommend that you print them out and store them in a waterproof container.
Finally, you will be asked to enter the number of ICON-Coins that you want to exchange. Just hit the “MAX” button and make sure you have enough Ethereum to process the swap. Then click on "Complete".
Finally, you will receive a final confirmation of the token exchange. Check again whether the information is correct and click on "Complete". Your ERC-20 tokens will then be exchanged for mainnet tokens within 24 hours.
There you have it, everything you need to know about ICONex. We love how easy it is to use and the fact that it was created by the ICON Foundation itself. Our only problem with this is the lack of support for mobile devices and platforms. We would of course like a mobile app and the possibility to use the ICONex with other web browsers.