HOW DO I OPEN A DIGITAL WALLET TO STORE TOKENS GAINED ON DRESSCODE BOUNTY?
To make sure all the tokens you have acquired through Dresscode BOUNTY activities on projectdresscode.io or using the Dresscode iOS app and haven’t been spent for the fantastic GIVEAWAYS will have their value and could be used as a means of payment only if stored in you personal wallet.
An increasing number of people comes to terms with the fact that one of the best ways to invest in cryptocurrencies is by taking part in Initial Coin Offerings, a.k.a. ICOs such as ours projectdresscode.io. But cluelessness and with a lack of knowledge about the ICO process people can easily hit big obstacles and actually stop investing. It may all look complicated at first glance but we will break it down for you real basic. After reading this article, setting up your own compatible wallet in ICO issued on Ethereum blockchain, will be a piece of cake.
First things first. What is the Ethereum wallet?
The Ethereum Wallet is a gateway to decentralized applications on the Ethereum blockchain. It allows you to hold and secure ether and other crypto-assets built on Ethereum, as well as write, deploy and use smart contracts. Basically it is a wallet where you can store, keep safe and broadcast your transactions on the blockchain through their full node.
You also should know why do you need ERC20 compatible Ethereum wallet in the first place.
ICO tokens (most of them) are issued on Ethereum blockchain, consequently if you want to participate in ICO you must have Ethereum and its wallet to save those tokens of yours. Nevertheless, you should know that not all digital wallets support ICO tokens powered by Ethereum. For example, if you want to participate in Fast Invest ICO, you will have to set up an Ethereum ERC20 compatible wallet. You are the only person to have access to your wallet with your private key. As you know, ICO is about sending and receiving coins and your private keys are required for good interaction with smart contracts to transfer and receive tokens. As security of your data is of great importance it is not recommended to use a third-party portfolio such as your wallet in an exchange or from a company that has custody of the resources. Having control of your own wallet is key to appropriately controlling and moving your resources.
DO NOT PARTICIPATE IN ICO BY SENDING COINS FROM ANY CRYPTOCURRENCY EXCHANGES. YOU MUST USE AN ERC20 COMPATIBLE ETHEREUM WALLET. OTHERWISE, YOU WILL LOSE YOUR FUNDS.
Compatible wallets
Here is a list of compatible wallets that have been verified to support Ethereum ERC20 tokens. You can check this list at Tokenmarket from time to time as it is updated continuously.
· MyEtherWallet (Online) https://www.myetherwallet.com/
· MetaMask (Firefox and Chrome browser extension) https://metamask.io/
· Mist (Desktop) https://github.com/ethereum/mist
· Parity (Desktop) https://www.parity.io/
· imToken (iPhone) https://token.im/
· imToken (Android) https://token.im/
And don’t forget to wear the blockchain!
