These are the best ICON wallets to safely receive, send, store, and stake ICON blockchain ICX cryptocurrency.
What is the ICON Blockchain
ICON blockchain, with its native cryptocurrency ICX, uses the DPoS (Delegated Proof-of-Stake) consensus protocol and the economic-governance protocol called DPoC (Delegated Proof-of-Contribution).
ICON also allows the smart contracts which exist in separate domains within a node with the ledger, which improves work efficiency.
ICON can handle a much bigger number of transactions per second than, for example, Ethereum. The ICON will be implementing many new features on its network this year and is looking to really be stepping up and being competitive with the other blockchains.
ICON will be expanding its ecosystem with with the Orbit Bridge integration making it more interoperable. Allowing assets from other blockchains to be transferred into the ICON network.
Integration with Polkadot, Rosetta integration (possible step to Coinbase listing), Token Swap lunch, Equality exchange release to Vaccine Passports, and other great projects with their numerous partners could provide benefits to ICX price also.
With all its capacities, the governance model being implemented a long time before the current topping coins, and the low market cap, I expect a bump in ICX price in 2024.
Important ICON network links
Icon Network Official Website: https://iconrepublic.org
Icon Twitter: https://twitter.com/helloiconworld
Icon Staking Reward Calculator: https://icxstakr.io
Icon Blockchain Explorer: https://tracker.icon.foundation/
What is the best ICON ICX wallet?
These are the best ICON wallets to manage and stake Icon ICX in 2024.
1. Ledger Nano X + ICONex Wallet
Ledger Nano X is one of the best hardware wallets. Ledger Nano X and ICONex browser extension wallet is the best match for all Icon ICX holders. ICON’s developers have chosen to build an app on Ledger to provide security for their ICX holders.
It can be used on Windows, Linux, macOS, iOS, and Android devices. Ledger Nano X supports over 5,500+ coins and tokens.
It works with the Ledger Live app you can use to buy, sell, swap, lend, stake crypto assets. Buy gift cards for the world’s best brands, all using a safe environment.
Ledger Live is also available for Desktop and Mobile, and you can sync them.
Hardware wallets are the only ones able to keep your cryptocurrency 100% safe. Ledger is keeping your wallet’s private key in the device safe chip where all transactions are signed – offline.
How to stake ICON ICX with Ledger
Install ICONex wallet Google Chrome extension. Click on the widget in the top right.
Click Connect to Ledger.
On the next screen, click the MY STATUS tab. As you can see, I already have some ICX staked, so I’ll just add some more clicking Adjust.
Move the slider to the right to add to the stake. In the same way, you can unstake the ICX. This process is made very simple by the ICONex wallet.
Confirm it on your Ledger device, and done.
You now have VOTING POWER!
First, choose among Main-Rep (representatives), Sub-reps, or Candidates and click plus beside their name button. First, examine how many voters they already have, their performance, and social media channels…
You are now able to vote for that representative. Click on the amount field and move the slider to the right the same way as with staking (it all happens on the same page).
Click VOTE, confirm on the Ledger device, and that’s it.
Your rewards are being paid in I-Score, which is convertible into ICX at a rate of 1,000 I-Score = 1 ICX
Protect your Ledger Nano X Recovery Phrase
If you want to invest in an extra layer of security for your hardware wallet’s 24 words Recovery Phrase the Ledger offers you 2 amazing options: Cryptosteel Capsule or The Billfodl. Some people like to know their cryptocurrencies are safe even if their whole house buns down.
Cryptosteel Cryptosteel Capsule is made out of 303 and 304-grade stainless steel, shockproof, fireproof, and waterproof – up to a 150000N pressure.
The Billfodl with its marine grade 316 stainless steel, can never rust, created to withstand more than double the average house fire, and shocks up to 1000000 volts.
They both have the same price: 99,00 €
Ledger Nano X Discount Code & Special Offers
Current special and limited offers in the Ledger shop:
- On Ledger Nano X you get free shipping!
- Combining Ledger Nano X and one of these excellent recovery phrase backups is a great security solution you can make in the Ledger Shop!
Ledger Nano X price is: 149,00€
2. ICONex (Browser extension)
ICONex is a Google Chrome extension wallet for ICX and all its tokens. You are able to use all its functions without the Ledger hardware wallet. But that way your crypto assets are not safe.
Install the extension just instead of Connect to Ledger, you click Create Wallet. Enter your wallet name and password. Download the backup file and get the private key (you can later use it to restore your wallet in other wallets).
You get the ICON address you can use to receive and send ICX. And all the other functions described above for staking and voting. You can also connect it to the Ledger wallet.
3. MyIconWallet (Mobile, Web Wallet)
MyIconWalllet can be used as a web wallet and for iOS and Android devices.
As a web wallet, you are also able to connect it to a Ledger Nano X hardware wallet or create a regular one with a keystore as a backup.
MyIconWallet has merged staking and voting into one function. You choose the P-Rep and sort them by ranks, voters, and projects count. Once you select and vote, you also staked and start earning I-Score rewards daily.