There are many those who believe that 2019 will be a good year for cryptocurrencies, which might compel investors to look for promising projects worth investing in. One such project is ICON, a blockchain-based platform that aims to “hyperconnect the world” via a massive decentralized network that enables enhanced blockchain interoperability.
Just imagine a world where every single blockchain is able to communicate freely with each other, similar to how many modern devices can do so via the Internet. The project is without a doubt revolutionary, and even though it’s still a young project, the ICX token has already established itself as one of the most successful cryptocurrencies ranking in 43rd place by market cap.
Hence, if you’re considering buying ICX tokens, then the first thing you’ll need is, of course, an ICX-compatible wallet where to store them. Happily, there are numerous good options on the market.
Things to Consider Before Choosing an ICX Wallet
Ideally, you will want to find a wallet that supports both types of ICX tokens, not just the ERC-20 ICX tokens, but also ICX mainnet tokens. Security should be one of your main concerns when choosing a wallet, so make sure that you pick a wallet with top-notch security features (such as cold storage and two-factor authentication). Speaking of which, you should choose a wallet that allows you to remain in control of your private keys at all times
User-friendliness is also something worth considering, especially if you plan on using your wallet on a daily basis. Finally, make sure the wallet is compatible with your device. If you usually use multiple devices on a daily basis, then it might be worth it to find a wallet with bespoke clients for all major OSes, both desktop and mobile.
ICONex Wallet is the official wallet developed by the ICON Foundation. The main benefit of this wallet is the fact that it also supports the mainnet coins and will allow anyone to perform the coin swap when the time comes to transfer ERC-20 tokens over to mainnet coins. It can be used to store ETH, as well as ERC-20 tokens. Another great advantage is the fact that you can create multiple wallets within ICONex.
User-friendliness is also something that makes ICONex shine. Currently, the wallet is in beta and is only available in the form of a Google Chrome extension (which can be easily downloaded from the Chrome Web Store), but the team plans to launch full-fledged iOS and Android apps in the future.
Ledger Nano S Wallet
If you’re serious about security, one of the best choices currently on the market is Ledger Nano S, especially when large sums are involved. The wallet has a very strong reputation among its competitors, and it’s currently one of the most versatile and successful hardware wallets.
Besides the top-notch security features, Nano S impresses by supporting a plethora of cryptocurrencies (over 700). The wallet only supports the mainnet ICX coins and is compatible with Windows, Linux, and macOS. The only drawback of this wallet is the fact that it is not free (it usually costs around $80-$100).
Trust is regarded as the best mobile wallet for ICON. It’s capable of storing both ERC-20 and ERC-223 tokens, including ICX. The wallet is free to download on both iOS and Android from the respective platforms’ official stores, and it has one of the most streamlined interfaces of any mobile wallet in the industry.
Trust stores your local keys locally, and ensures their security with the latest, industry-leading security features such as fingerprint support, PIN-code protection, and push notifications. Another big advantage is related to the fact that it does not require any personal information. As far as drawbacks are concerned, you can only use the wallet on one device at a time.
MyEtherWallet is one of the most popular wallets for storing Ethereum-based tokens. It is a web-based (online) wallet which provides you with the option of storing all types of ERC-20 tokens and have full control over your private keys. Best of all, it also does not require any type of personal information making it a favorite among users who value their anonymity.
There’s a good chance that if you’re a newcomer, you will find the wallet to be a bit complicated. However, there are numerous guidelines available online which can help you get to grips with its basic functionality. One of the main advantages of MyEtherWallet is its smooth integration with some of the best hardware wallets such as Trezor and Ledger Nano S.
Last on our list is Eidoo, an ICX-compatible wallet that’s available for both desktop and mobile platforms. It supports more than 500 ERC-20 tokens, and it ensures that you always stay in control of your private keys. One of the best things about Eidoo is the fact that it allows you to store all your tokens with a single backup passphrase.
Even though cryptocurrencies allow you to be your own bank, storing them is fully your responsibility. Hence, make sure you download the wallets only from their official sources, and that you make use of all their available security features.