HOW TO USE IMTOKEN
Before we start, most of us must have heard about imtoken wallet but don’t know what its all about.
This post is to teach you about Imtoken and its uses from the scratch ,NOTHING left behind. For user with little or no knowledge of the cryptocurrency world, this is gonna be as simplified as possible for you to know how to create and securely store tokens in your wallet for a very long time to avoid loss of funds. Lets begin
WHAT IS IMTOKEN?
Imtoken is a Ethereum based secure wallet (ERC20) for storing your ETH, BTC , EOS and other ERC20 based tokens.Good news is, Imtoken unlike some other ethereum based wallet like MEW can actually be created offline (Referred to as cold wallet) .It runs on both the android and ios platform
VERSIONS FOR DOWNLOAD:
-See Imtoken v1.4.5 apk (a multiple chain wallet that currently supports ETH, EOS and other ERC20 compliant tokens)
-Or imtoken v2.0 .3 apk (a multiple chain wallet that currently supports BTC, ETH, EOS and other ERC20 compliant tokens)
-Download imtoken v2.0.3 ios
HOW TO USE:
Now to the main deal of the day “how to make use of the imtoken wallet”
First and foremost make sure you have downloaded the app from above links
NEXT, when the app fully launches , you will be presented with two options: CREATE WALLET AND IMPORT WALLET
1: CREATE WALLET
This option is for starting a fresh wallet ERC20 Wallet.
Create wallet name This will be the name assigned to your wallet in your imtoken . It can be words of your choice .
Password Now this is going to be the password to control movements of funds out of your wallet.It is important you keep this to your self to avoid theft. Choose a secure password of at least 8 characters ,a mix of letters, digits and symbols. Verify the password by repeating it.
NB: password is case sensitive E.G Dehappypanda1@ is not the same as dehappypanda1@
YOU can decide to put a password hint to help you remember if in case you forget later on.
PLEASE BACKUP YOUR WALLET
The MNEMONICS are group of 12 different words used for recovering your wallet in cases of missing device or wiped devices .This Backup is as important as your funds and your password (or more than your password), this “Mnemonic” is very crucial. YOU MUST KEEP IT SAFE, if it fall into the wrong hands severe damage could be done to your funds from miles away..
IT IS ADVISED NOT TAKE SCREENSHOT during backup, but if for any reason you DO, don’t forget to delete the image after storing it properly.
N/B: ANYONE WITH YOUR MNEMONIC WORDS CAN ACCESS WALLET AND CONTROL YOUR FUNDS
COPY DOWN THE SET OF WORDS SOMEWHERE, AND WHEN YOU ARE ASKED TO BACKUP YOU INPUT IN THAT ORDER.
After backup, your wallet would be fully launched and operational
This is just like your bank account number, but in this case it is longer and ALWAYS begins with “0x”.This is the address you would use to receive tokens like ETH and other ERC20 based tokens. You don’t have to have issues trying to remember a bunch of long numbers as you could always copy and paste.
TO KNOW YOUR WALLET ADDRESS, simply click on assets (buttom left corner) > click the set of no. beginning from 0x (beneath your wallet name)
click “copy wallet address”
BACKING UP YOUR WALLET (VIA PRIVATE KEY AND KEYSTORE)
Both the private key and keystore technically are means of protecting and recovering your account .Just like then we backed up the mnemonics but the private key encodes your passwords in a string of long combinations of alphabets and digits..i won’t bother you with how it works, so straight to the point.
Click on profile > manage wallets > choose your wallet (dehappypanda in my case) > export private key, input password and wait for 3secs > copy your private key and paste in a secure location .
Repeat same procedure to backup private key.
COPY YOUR KEYSTORE AND PRIVATE KEY AND STORE IN A SECURE PLACE
NEVER, I REPEAT, NEVER LEAK THEM TO ANYONE OR ANY FORM ASKING YOU OF IT, IT’S A FRAUD!!!!
ALL MNEMONICS , PRIVATE KEY AND KEYSTORE ARE MEANS OF SECURING AND RECOVERING YOUR WALLET (in cases of missing device). If you totally lose all of the above you would lose complete access to your Ethereum account. BE WARNED!!!!!
FOR DIRECT GUIDIENCE; CONTACT ME