An introduction to FX Connect
As we’ve recently started the roll-out of the Function X blockchain testnet, it’s time to grab a coffee and talk about FX Connect, our decentralized mobile wallet that helps you manage your FX coins.
(Please note that FXCOIN is used on the testnet, which can be claimed daily for free through the Faucet. FXCOIN can’t be traded or sold because there is no value in it. Make sure you don’t send your FX ERC-20(ethereum) tokens to the testnet.)
In this article, we will talk about FX Connect in more details as follows:
- Setup
- Features
- Useful tips
Part one: set up
Install the wallet and create an account
One of the first steps we’ll go through is installing the wallet. You can do that by downloading it from our website, functionx.io.
In the next step, you’ll be greeted by a window asking you to pick between “Create a new wallet” or “Restore wallet.”
If you’re looking to create a wallet, you’ll be asked to enter a password of your own choice, which should contain at least eight characters. Once you’ve entered a valid password, you will be prompted to choose if you’re willing to use biometric authentication instead of typing the password when signing transactions.
Please make sure to remember this password and avoid storing it in insecure places as anyone with access to it will be able to use your wallet!
If you haven’t enabled it when creating the wallet, biometric authentication can be enabled by heading over to the ⚙️ icon located at the top right corner. You will need to enable “Touch ID” by entering the wallet password.
If you’ve previously used the app and are looking to restore a wallet, you will need to enter your 24-word passphrase and choose a password, as mentioned above.
Backing up your wallet
Now that you’ve got a wallet, one of the most important steps is to back up your recovery words, which will act as your private key. These can be later used to recover your wallet in case you no longer have access to your phone.
Head over to the ⚙️ icon located at the top right corner and click on “Back up Recovery Words.” You will be asked to enter your password in order to proceed further. Grab a pen and some paper and start writing them down. Please be careful about this step as any typo has the potential to lock you out of the wallet if you’ll need to recover it.
Part two: features
Send and receive FXCOIN
Since your wallet is now secure, it’s time to start using it, but since this is the test-net phase, the only way you could get a few test FX coins is through our Faucet available here.
Sending and receiving FX coins can be done by navigating to the main wallet interface.
Press on the “send” button, and a window will pop up where you’ll need to enter or scan (QR code) the recipient’s FX address and the amount of FX you wish to send.
You will be asked to sign the transaction using your wallet password or biometric authentication.
If you’re looking to receive FX, you will need to click on the “Receive” button, and a window with your address will pop-up.
Delegate FXCOIN
You can choose to be a delegator by lending your tokens to a validator and received rewards that result from running a full node, without actually running one. You can read more on this topic here.
The first thing you should do is figure out which delegator would be the best option for you based on commissions (the amount the validator charges you) and uptime (an indicator of a validator’s reliability).
To delegate your tokens, you’ll need to access the DApp called “FX Delegator.” You will be prompted to choose the address from which you will delegate your tokens (usually the first one in the list).
Pick one of the validators and proceed to select the number of coins you wish to delegate. After this, you will be asked to verify your identity by entering the password or using biometric authentication.
Congratulations you are now delegating your tokens.
Browse the block data in the FX Explorer
Viewing details about your wallet can be done by clicking on the ℹ️ (info) button in the main interface, this will redirect you to your wallet in FX explorer.
If you wish to access the FX Explorer in the wallet application, you can do so by accessing the DApp called FX Explorer.
Verify yourself as a validator
To become a validator, you’ll have to use our FX Cloud tool. Once you’ve prepared your node, you should be able to create a validator using the tool. At specific steps in this process, you will see an ➕ icon, requiring you to use the FX Connect app to scan a QR code and verify and submit your wallet address/validator address from a list of available addresses.
Head over to the main wallet interface and press the scan button on the top left corner. This will send you to a scanning tool which will use your camera. After scanning the QR code, you will need the connection to be established and submit the required details.
Receive block rewards
Once you delegate, you will be able to mine FX from the validators that you have delegated. You can withdraw the rewards from the following steps:
Click “FX Delegator”> “Get Start”> “Allow”> Choose the address that you have delegated your FXCOIN > Click the validator > Choose “Rewards” to claim.
Add Function X DApps
You might’ve noticed that the wallet is quite straightforward, but that’s going to change. We have made it simple to use decentralized applications in the FX Connect app, so once a DApp is released, you can add it to your wallet.
To add a DApp to your wallet, you need to follow a few steps. From the main wallet interface, there’s a list called “My DApps” and you’ll see an ➕ icon on the right side.
After clicking on the icon, you will be prompted to add a DApp URL. Once a valid URL has been entered, you will be able to see the DApp logo amongst a brief description and add it to your DApps.
Part three: useful tips
How to reset a wallet?
If you’re looking to reset your wallet and create a new one, you can do so by navigating to the settings (⚙️ icon) and selecting the “Reset Wallet” button.
Please make sure you’ve got the recovery words saved in case you need to use the “old” wallet again.
How to use multiple FX addresses under the same wallet account?
FX Connect allows you to use more than one blockchain address without the need to have multiple accounts.
Once you are on the main wallet interface, press the “Switch” button.
You will be prompted with multiple Function X addresses. They’re all yours to use and can be restored with the same backup words.
How to display your receiving address QR code?
The QR code can be displayed by selecting the “Receive” button from the main wallet interface. A pop up will appear containing your address QR code. You can use this feature to have someone scan your wallet when sending coins.
How much is the transfer fee?
The usual transfer fee is 0.8 FX per transaction; however, the transaction fee varies based on the network conditions.
