Detailed Explanation of Imtoken Download Methods
During the wallet installation process, the app will present you with a password and recovery phrase. Keep these safe and back them up offline. The wallet is non-custodial, so you own the private keys and can access your funds anytime.
Beware of scammers who will offer very high yields to lure users into sharing their transfer authorization and stealing their assets. Be careful when transferring through QR codes or links.
1. Downloading the Wallet App
A new smart digital wallet, imtoken enables users to manage their money in a one-stop account, enabling them to transfer and pay accounts from the app. Designed with a friendly interface, it is available in multiple languages and provides user-friendly features such as private key local secure storage, asset visibility, easy import and export, token backup and anti-loss. It also offers a range of security features, including fingerprint and face ID support.
The wallet allows users to store ETH and ERC-20 standard coins and tokens safely. It also supports staking, where users can deposit their tokens for a period of time in exchange for rewards. In addition, it offers a built-in exchange where users can quickly swap their tokens.
Users can also use imtoken to purchase cryptocurrencies directly from the platform, eliminating the need for third-party fiat onramp services. They can also withdraw their assets from centralized exchanges, with detailed operational tutorials provided to streamline the process.
It can be used to purchase a variety of cryptographic assets, including ETH, EOS, BTC and ATOM. It is also possible to trade a variety of other currencies on the platform, including USDT and TRX. In order to avoid losing your money, it is essential to back up your wallet regularly. It is recommended to back up your wallet using a cloud service such as MEmu Play.
2. Transferring Tokens
While online exchanges are fast to set up, funds are not under users’ control and can be stolen. This is why crypto wallets like imToken and hardware wallets are preferred. Both provide the user with control over their private keys and assets.
This Android- and iOS-based wallet app offers a multi-coin support, an inbuilt exchange and a DApp browser. Its security features include a password-protected interface and a seed phrase (a 12-word phrase) that can be used to recover the wallet. Furthermore, it is a non-custodial wallet that stores the private keys on the device and not on the company servers, giving the user complete control over their assets.
The imToken platform is also free to use, with users only paying Ethereum blockchain network fees when they transfer tokens between wallets or exchanges. In addition, the inbuilt exchange allows users to quickly swap their cryptos and tokens for other cryptocurrencies and stable coins.
Additionally, the imToken platform is equipped with a number of tools that help users to be aware of potential scams. For instance, the platform decodes transaction records on its ETH wallet to help users understand what is happening on-chain. It also alerts users to DApps that are suspected of being fraudulent. This way, users can avoid being cheated for their mnemonics or asset transfer authorizations.
3. Visiting DApps
DApps are applications that run on a blockchain protocol like Bitcoin or Ethereum. The main difference from traditional apps is that they are decentralized and need to be accessed by connecting to a network, usually through a browser or a dedicated client. In addition, all the data is recorded in a public ledger that can be viewed by anyone. To be compliant with the blockchain protocol, DApps must follow the rules of consensus and cryptographic algorithms used to verify transactions.
The imToken wallet app is designed to make the process of accessing DApps easier by allowing users to transfer their assets from exchanges to their personal wallet. From there, they can then visit any DApp and interact with it. The wallet also provides a step-by-step guide for withdrawing from other exchanges and has a DApp marketplace with more than 50 compatible apps.
Unlike MyEtherWallet, which only supports Eth-based cryptos and tokens, the imToken app is designed to support multiple different cryptocurrencies. It also features a built-in decentralized exchange, DApps browser, and Bluetooth hardware wallet support. In addition, the imToken wallet allows users to control their transaction fees by setting a preferred rate and even a minimum fee.
As a safeguard against scammers, the imToken wallet app will alert users to potential risks by showing a risk warning if they are visiting a suspicious DApp. This way, users can avoid being cheated or having their assets stolen.
4. Backing Up Your Wallet
Having a backup of your wallet is a vital practice for protecting digital assets. It allows you to regain access to your cryptos even in the event of a software or hardware failure. Creating a backup is easy and can be done using free or paid software. Alternatively, you can also use physical storage methods like paper wallets or the Cryptosteel Capsule to give you full control over your backups.
Users should save their mnemonic and private key in a safe place. It is not advisable to store them on cloud drives or online messaging apps such as Telegram and WhatsApp. This is because scammers can take advantage of these platforms to trick users into downloading fake Apps on phishing sites.
After backing up your wallet, you will need to locate the file that contains your keys. The location of the file will depend on the wallet software you are using. It is recommended to move or encrypt this file, and to avoid deleting it as it will be one of the first places that cybercriminals look for valuable information.
Users can also import their wallet from another software wallet if they lose access to their original wallet. This will allow them to restore their private keys and digital assets to a new wallet. Importing a wallet can be done by following the instructions provided by the wallet software.