What is ImToken Wallet? How to create and use ImToken Wallet

What is ImToken Wallet? What outstanding features does this e-wallet have that become familiar to virtual currency investors? How to create a new account or deposit and withdraw Coins in the wallet? All information and instructions on how to use ImToken wallet will be brought to you by BHO Network through the detailed article below. See now!

Read more: What is a crypto wallet? All you need to know about crypto wallets

1. What is ImToken Wallet?

ImToken Wallet is a multi-purpose electronic wallet built on the Blockchain technology of ImToken company. This application supports storing ERC-20 standard digital currencies based on the Ethereum platform, including today's leading cryptocurrencies such as BTC, ETH, EOS, TRX, LTC, BCH, CKB...

Token is considered a safe and user-friendly storage product. ImToken Wallet users will not be charged a transaction fee, but only need to pay a small amount to the miner to confirm the transaction. Currently, the wallet has version:

• Wallet 1.0: Only supports ETH wallet and has 2 main features: transferring and receiving money.
• Wallet 2.0 (international version): supports a variety of wallets and DApps.

With an imToken wallet account, users can have the following experience:

• Store a variety of digital currencies of many different Blockchain platforms.
• There is an additional source of passive income through the wallet's staking function.
• DApp is integrated right into the wallet.
• Fast and straightforward transaction.
• Thanks to imKey hardware developed right on the product, users store hardware wallets more securely.

2. Compare ImToken wallet with Coinomi and TrustWallet

ImToken, Coinomi and TrustWallet are all types of virtual currency storage wallets familiar to the Crypto community. So what are the similarities and differences between the three technology products? Let's also BHO Network make a little comparison.

• TrustWallet Wallet
• Coinomi Wallet
• ImToken Wallet
• Safe- Security
• High security, users keep private keys.
• Strong security, customer account privacy is guaranteed.

High security, but still inferior to the other two types of wallets. The wallet does not allow users to keep private keys, so it is vulnerable when the platform is attacked.

• Create a wallet
• DApps Integration
• Only integrated on IOS operating system.
• It is integrated on both iOS and Android operating systems.
• Integrating DApps into the wallet helps users use and play games right on the application.
• Supported Cryptocurrencies
• More than 40 Blockchain platforms are supported, such as Bitcoin, Binance Chain or Ethereum.
• More than 125 Blockchain platforms and thousands of cryptocurrencies are supported. The wallet stores more than 1770 crypto assets on Ethereum, BNB, Omilayer, Nem or TRON platforms.
• Supports 8 Blockchain platforms and stores over 200,000 cryptocurrencies, including ETH, BTC and Cosmos.
• Application experience
• At the same time, users only use 1 account. Difficulty in switching between wallets and not yet suggested to optimize Gas fees.
• Trade easier, faster through Changelly and Shapeshift. Users are not charged transaction fees and cannot use fiat currency to buy virtual currencies.

Customers can use multiple wallets simultaneously and are not charged transaction fees. Gas fee is also suggested optimally. Binance DEX trading helps to support the purchase of Crypto with USD. In addition, the wallet also integrates Staking for users.

Activate SegWit, providing more than 168 different FIat coins for users to easily transact. The wallet supports Staking, transactions through the Tokenlon function. The built-in imKey function helps users to store more securely. In addition, the platform also supports security via FaceID and fingerprint.

Read more: What is Ledger Nano S Wallet? Everything ypou need to know

3. Extended features of imToken wallet

In addition to the main feature of storing cryptocurrency, the imToken wallet also adds several extended attributes. Specifically:

3.1 Staking on imToken wallet

One of the new expanded features of imToken Wallet amid the development trend is Staking. To perform this task on the platform, the user selects the “Browser” Tab and enters “Staking”. Finally, you choose “imToken Staking”. In addition to the integrated Cosmos Staking (ATMO), ImToken wallet also supports many other Proof-of-stake blockchains such as Polkadot, Kusama, Tezos, etc....

3.2 Dapp on imToken

DApp wallet is an impossible feature missing for e-wallets. To access DApps directly, users only need to enter the name or URL of the DApp they need to use in the search box. If you do not know which app to use, the wallet will have suggestions for you to choose from.

3.3 Other features of imToken

Besides basic features such as depositing and withdrawing Crypto, imToken Wallet is also developed with some other features such as:

View Top Cryptocurrency prices:

• Users can view price movements of Top Cryptocurrency and Tokens in the “Markets” section. Here are two large areas, “Trade” and “Quotation”. In the “Quotation” section, customers can track the prices of their favorite Coins/Tokens. In addition, right at the application, investors can also see the cost of Cryptocurrencies directly on Binance and Bittrex.

Browsers:

• This is where the user enters the name or URL of the app to search and use. If there is still no choice, imToken also has suggestions for users. You can scroll down, search, select a DApp and start experimenting.

Profile: In the 3rd tab of imToken, there are the following main items:

• Manage Wallet: Where you can manage the user's ETH wallet, here you can create a new one or import an existing wallet.
• Settings: Here, wallet users can customize the “Touch ID” and “Hide Balance” features. “Touch ID” is used to increase security, while “Hide Balance” helps to hide the account balance. ​​

4. Evaluation of ImToken e-wallet

ImToken Wallet has what advantages it has become so familiar to Crypto investors? Also, are there any limitations to this platform? Find out with BHO Network in the next part of the article.

4.1 Advantages

The imToken e-wallet has many advantages, including becoming a familiar name for the Crypto investor community. Some benefits of the wallet can be mentioned as:

• Friendly interface, easy to use, even for newbies.
• Security and security are focused on building. Users must enter a password or use a fingerprint during each login or money transfer to continue the task.
• Easily add new Tokens.
• Vietnamese is one of the supported languages.

4.2 Cons

Besides the above advantages, the wallet also has a minus point: the user does not keep the private key, so imToken is still considered a third party. Users' information and assets are still not 100% secure when the wallet crashes or is hacked.

Read more: What is Trust Wallet? How to create and use Trust wallet details

5. ImToken Wallet supports many different types of crypto assets

Currently, imToken wallet supports storing Ethereum (ETH) and ERC-20 standard Coins/Tokens safely and conveniently. In addition, wallet version 2.0, also allows transactions with Bitcoin (BTC), EOS and ATOM.

Besides, ImToken also has another product, Tokenlon, which Kyber Network and 0x support. This is a centralized exchange (DEX) similar to Bancor, Tokenlon allows to trade ETH with ERC-20 Tokens quickly and seamlessly.

6. Instructions on how to create an imToken wallet All

It would help if you did create an account on the platform. Here are the instructions to create an imToken wallet for beginners:

Step 1: First, players need to download the wallet from the App Store or CH Play to their phones. After successful download, the user opens the application and selects "Create Identity" to create an imToken wallet on the phone.

Step 2: You read "I have read and agree to the Terms of Service and Cookie Description" and select Confirm.

Step 3: Fill in all required imToken information such as Identity Name, Password, Password Hint (can be filled or not).

Fill in all the information in the boxes

Step 4:

• Users will be provided with a set of Mnemonic codes, you can Backup Now or Backup Later.
• If the user chooses Backup Now, the platform will give you 12 keywords (Backup Phrase) to restore the wallet. Users should write these 12 words on paper in the correct order and keep it carefully, do not let other people know about Backup Phrase because you may lose ownership of the wallet.

Step 5: In this step, users need to enter the correct order from 1 to 12 Backup Phrases for imToken to confirm and click "Next". After this step, you have successfully created an imToken wallet account.

7. How to login and restore imToken wallet

If you lose your phone, change your phone, or accidentally delete your imToken wallet, you can use 12 Backup keywords to restore your account. Here are detailed instructions on the steps:

Step 1: Download the imToken wallet application to your device and click "Recover Identity".

Step 2: Click “Mnemonic” and fill in all the information such as:

• Enter 12 Backup Phrase.
• Enter the password in the following 2 boxes.
• Click on “Agree on…”.
• Click on “Start Importing”.

8. Detailed instructions on how to use the imToken wallet

After creating a new account and logging in, the user needs to start using the wallet's main features, such as transferring/loading Coins or adding new coins to the wallet. Here are detailed instructions on how to use imToken wallet:

8.1 Overview of imToken wallet features

To understand how to use imToken wallet, users can change the language to Vietnamese by Tab “My Profile” in the lower right corner of the screen. Select “Settings” and then continue to click “Languages”. Here you find the Vietnamese language and press “Save” to finish.

First, the “Wallet” section will be the main interface of the platform, this section includes:

• ETH wallet address and current balance in the wallet. Users can Click next to copy the wallet address.
• Scan QR code - You can send others to scan the code and then transfer the Token to the wallet.
• In addition, customers can also add Coin/Token as desired by clicking the plus sign. ​​

In the “Market” section, there are two main items, “Transactions” and “Markets”:

• Tab “Transactions”: Here users can perform exchange orders, buy and sell Coin/Token on the exchange itself. Token” built by Imtoken.
• Tab “Markets”: Here show the trading pairs supported by Tokenlon, Binance and Bittrex. With this feature, users can view the chart, price or volume of transactions,... of the type of Crypto they are interested in.

Finally, the "I" section. Here users can manage wallets, currencies, language preferences, DApps, or with the help of imToken consultants…etc.

The third feature is “Browser”. This section includes DApps, games, utilities, tutorials, etc.

8.2 Adding Coins/Tokens to the wallet

To add a type of Crypto to the e-wallet, the user does the following:

• Step 1: Click on the icon in the upper left corner of the screen.
• Step 2: Select “Manage”.
• Step 3: Select “Add Coin”.
• Step 4: Select the type of Coin/Token you want to add to the wallet and click Confirm to complete.

8.3 Receiving Coin/Token from outside into wallet

Following are the specific steps to receiving Coin/Token from outside into the wallet:

• Step 1: Select the type of Crypto you want to receive.
• Step 2: Click “Receive”.
• Step 3: Copy the wallet address and the number of Coins to the source wallet address or to be exact, users can use QR code scanning.

8.4 Sending Coins/Tokens from Wallets

At the end of the article will be instructions on sending coins/Tokens from imToken e-wallets to the outside.

• Step 1: Select the type of Crypto you want to send.
• Step 2: Select “Send”.
• Step 3: Enter the wallet address and the amount of Coin/Token you want to transfer. Then press “Next” to confirm.
• Step 4: Click “Send” to complete the sending command.

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Hopefully, through the article, readers will understand the answer to the question "what is ImToken Wallet", the advantages and disadvantages of the platform, more information on how to use the wallet,... For more helpful information about the financial market, please visit the company's website. If you have any questions regarding e-wallets, do not hesitate to contact BHO Network immediately for support as soon as possible.