How to receive ICN tokens in your own Ethereum Wallet
Note: You should follow the steps outlined below only if you are an experienced crypto user. We otherwise recommend you keep your ICN tokens in the ICONOMI ICO wallet.
ICN is an Ethereum-based token of value. ICNs will be issued with the deployment of a smart contract on the Ethereum network. You are now able to provide us with your public Ethereum address for which you hold the corresponding private key. Users who fail to do so will be able to access their ICNs via the ICONOMI ICO website itself.
ICN tokens represent ownership of the ICONOMI platform, allowing their holders to receive dividends and vote on ICONOMI related issues. 85 million tokens will be divided among ICO participants depending on the total amount of assets raised.
Prepare your Account to receive ICN tokens
STEP 1: Getting A Wallet
NOTICE: If you already have the Ethereum Wallet, go to STEP 2.
A digital wallet is used to store, send, and receive digital currency. In order to use any cryptocurrency, you will need to use a cryptocurrency wallet.
You have two options when it comes to storing your cryptocurrencies. You can either use an online wallet service, or download the wallet software yourself. Because of higher security, we suggest you use an offline wallet.
How Does the Wallet Work?
Ether itself is not actually “stored” in a wallet. Instead, a private key (secure digital code known only to you and your Wallet) is stored that shows ownership of a public key (a public digital code connected to a certain amount of currency). So your Wallet stores your private and public keys, allows you to send and receive cryptocurrency, and acts as a personal ledger of transactions.
Which Wallet Should I Use for Storing ETH?
We typically suggest using an official (or officially endorsed) wallet for storing ETH, such as the Ethereum Wallet.
Remember that with any wallet, if you lose your private key, then you lose your money. That is true for paper wallets, hardware wallets, or any other wallet type. The reason you lose your key doesn’t matter — there is no way to reclaim your cryptocurrency without it.
STEP 2: Your Wallet Address
Your wallet address is like an email address, but for money, and is what you give to other people so they can send coins to you via the cryptocurrency network.
- Launch the Ethereum-Wallet application. It might take a while before the blockchain in fully synced.
NOTE: We used the Ethereum Wallet only to demonstrate the process.
2. Click ADD ACCOUNT.
3. You will be asked to enter a password and then repeat that password. Please make sure your password is strong and not used for any of your other accounts. And most importantly, if you lose this password, you also lose access to this account.
4. You have created your first Account.
NOTICE: Make sure you use a secure password and that you back it up as well. If you lose your password you will lose access to ether and/or any tokens controlled by that Ethereum Account forever. No one can recover it!
5. In the Wallet Overview screen, click on Account and then click the Copy Address icon on the right and paste the Address into a document. Use copy & paste, and do not manually retype the Address. Tokens sent to the wrong Address will be lost forever. There is no ‘undo’ button!
6. Your Address is copied to clipboard.
7. Go to the ICONOMI ICO website and click Manage ICN tokens in the drop-down menu, found in the top right corner of the page. Then click on Proceed here.
8. Read the WARNING carefully and mark that you understood it.
9. Enter your Ethereum Wallet Address and click Save to confirm your Address. ICONOMI will assign your ICN tokens to this Address.
10. We have just sent you a confirmation Email. To confirm the Ethereum Address, check your email and confirm it by clicking on the link.
You have finished the process of setting up your ETH withdrawal address.
You are all set up and ready to get your ICN tokens!
NOTICE: In case you have miscopied/mistyped your Address, click on the Change button to repeat the process — see step 11!
11. Changing the address.
By entering a new ETH wallet address and clicking Change, you can initiate Ethereum Address Change and will now receive a new confirmation email.
12. Double check the Address again and then confirm it by completing the 2FA security check.
a) Enter your Google Authenticator verification code.
b) Verification SMS was sent to your phone. Enter the code you received in the verification code box.
13. You have now successfully set your ICN token withdrawal address!
You are all set up and ready to get your ICN tokens!
