ICON is a token that seeks to hyper-connect the entire world by creating a decentralized network where different blockchains can interact with one another similar to how modern smartphones interact with each other through the internet. The ICON network consists of a wide variety of institutions, such as insurance companies, hospitals, universities, financial institutions, and many more.
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Although ICON is still new in the crypto market, it is undoubtedly revolutionary as it currently ranks among the top 30 cryptocurrencies in the world according to its market size.
In order to purchase ICX, you need a safe and user-friendly wallet to securely store the tokens. However, choosing a suitable wallet can be a challenging task especially for new crypto users.
This guide contains the best ICON wallets based on their features, which you can use specifically for the storage of ICX.
Ledger Nano S
Ledger Nano S Website: https://shop.ledger.com/products/ledger-nano-s
Ledger Nano S Wallet Type: Hardware
Ease of Use: Yes
Ledger Nano S is a hardware wallet that places a huge emphasis on security. The crypto hardware wallet is designed as a USB device that can be connected to the USB port of a PC. This means that the cryptocurrencies are stored offline where no hackers or unauthorized third parties can access them.
Ledger Nano S is equipped with a display screen for easy verification of sensitive operations. Carrying out cryptocurrency transactions using the wallet does not require any technical expertise or knowledge since all the operations on the device are manually operated by only two buttons.
As an additional security measure, the Ledger Nano S utilizes a secure chip to confirm the integrity of the device each time it is connected to a USB port; this eliminates the need for placing an anti-tampering sticker to protect the wallet. The secure chip is designed to resist any attacks by safely isolating all the private keys within the device.
The wallet is powered by the unique operating system, BOLOS, developed by Ledger. The main function of BOLOS is to place shields on each app on the user’s device in order to ensure that they cannot access the wallet’s sensitive information.
Besides, Ledger Nano S supports multiple cryptocurrencies, including ICON, enabling users to manage various coins using a single wallet.
Source: chrome.google.com (app)
ICONex ICON Wallets
ICONex Website: https://icon.foundation/
ICONex Wallet type: Chrome extension/Mobile
Ease of use: Yes
Launched in February 2018, ICONex wallet is the official ICON wallet and is accessible through a chrome extension as well as a mobile application compatible with iOS and Android devices. Apart from ICON, the chrome extension wallet and mobile crypto wallet supports a wide variety of cryptocurrencies, such as Ether and other Ethereum-based ERC20 tokens.
With ICONex, you can create multiple wallets, which are separated by name and contain individual addresses for sending and receiving funds. Once you create an ICONex wallet, you will receive a Keystore for safekeeping, which will be the wallet’s backup file for instances when the wallet is compromised.
After that, you will receive a randomized private key that will be under your full control. Furthermore, to prevent unauthorized access to the wallet, you can set it up using a six-digit PIN code, which will be required every time you open the wallet. If you want to transfer ERC20 tokens to mainnet coins, you can utilize the advanced token swap feature.
Additional features of ICONex include a user-friendly interface. The fully functional wallet has only a few tabs to switch between, and users can export all their wallets for an easy cross transfer of cryptocurrencies.
Source: chrome.google.com (app)
MyEtherWallet ICON Wallets
MyEtherWallet Website: https://www.myetherwallet.com/
MyEtherWallet type: Web
Ease of use: Yes
MyEtherWallet is an open source cryptocurrency wallet and client-sided wallet that enables users to interact with the Ethereum Blockchain while ensuring that they remain in full control of their private keys. However, it is crucial to note that even if you can create wallets on a web browser with MEW, it is not an online wallet as all the user data and funds are securely stored on the user’s computer and not on their servers.
The setup process on MyEtherWallet is relatively simple as no personal details are required, which is a plus for users that prioritize anonymity and privacy. The wallet is ready for use once you download it.
Moreover, the web wallet supports a wide variety of Ethereum-based tokens, such as ETH, ETC, EOS and ERC20 tokens via a single interface. It is also compatible with other crypto hardware wallets, like Geth, Mist, MetaMask, Jaxx Wallet, Ledger Nano S hardware wallet and the TREZOR wallet.
MEW provides users with the ability to create cryptocurrency wallets and initiate offline transactions, which is more secure than using a web browser. There are numerous guidelines and a selection of FAQs on their website that can provide additional information to users that might not be familiar with how MyEtherWallet works.
Eidoo Wallet Website: https://eidoo.io/
Eidoo Wallet type: Desktop and Mobile
Ease of use: Yes
Eidoo is both a desktop cryptocurrency wallet and a mobile crypto wallet that is compatible with Android and iOS devices. Aside from being one of the best ICON wallets, Eidoo allows users to efficiently manage other types of cryptocurrencies, such as BTC, ETH, ERC20, and ERC223 tokens.
Eidoo is not a custodian wallet, meaning that it doesn’t retain ownership of the private keys since they are encrypted within the app where the owner is the only one that can decrypt it. To use the multi crypto wallet, owners are not required to provide any of their personal information. It is also a hierarchical deterministic wallet, where users can store their tokens using a single passphrase.
Eidoo is integrated with a hybrid crypto exchange that features a safe and easy-to-use interface and an intuitive order book for smooth cross trading between ETH and other different ERC20 assets.
Furthermore, Eidoo has a frequently updated list of selected ICOs. The list contains information of each ICO and users can participate in the ICOs directly from the app. All the listed ICOs are compliant with the local regulations.
Other features of Eidoo include the ability to handle the Ethereum and Bitcoin addresses of the user’s contacts in a simple and standard way, automatic recognition of all the tokens supported by the Ethereum Blockchain, and clear transaction history for each user’s Ether, BTC, and any other tokens.
Trust Mobile Wallet
Trust Mobile Wallet Website: https://trustwallet.com/
Trust Mobile Wallet type: Mobile
Ease of use: Yes
Trust is a mobile cryptocurrency wallet that stores ICON as well as ERC20 and ERC223 tokens. The Trust interface is easy to use and provides owners with access to a built-in dApp browser, coin storage, and advanced settings. All the private keys are locally stored on Trust, and the website protects them using industry-leading security features similar to what is found in modern smartphones.
The mobile crypto wallet has implemented advanced security measures to ensure that all the stored assets are as safe as possible. For instance, Trust has fingerprint support and a PIN code that prevents unauthorized access to the wallet. The app also notifies the user every single time the address is used. In addition to these measures, Trust utilizes a recovery key that enhances the security of the funds.
Trust is user-friendly as users can easily maneuver between the different features of the app using the tabs. Importantly, owners are not required to provide any personal information in order to begin using the cryptocurrency wallet. This makes Trust one of the best ICON wallets in the market.
There is a dApp marketplace within the wallet where decentralized application developers can submit their projects as soon as they are verified. The wallet utilizes a token as a way of encouraging a healthy community within the marketplace.
This has been our list of the best ICON wallets. Remember, to guarantee the security of your ICX tokens, you should download these wallets from their official sources after carrying out detailed research regarding the wallet in terms of its provider, any previous security breaches, and independent reviews from other users. You should also ensure that you implement the existing security features, like setting up a PIN number on the account and enabling 2-factor authentication.
Additionally, it is important that all devices that will be used to access the crypto wallets have updated antivirus protection. You should also never share your private keys with anyone and ensure the wallet you choose allows you to retain full control over your private keys.