Simple Guide to the Best ICON Wallets in 2024

ICON stands for a framework based on the blockchain technology, which is allowing networks to connect to each other. This union of independent blockchains is possible thanks to the Republic of the ICON project. There’s a loopchain-based blockchain to interact communities altogether and let them freely connect in the Republic. The team behind it has created their own coin – ICX, native for the project and supporting its goals. In this review you can compare the best wallets for ICX coins.

by William Carter

01.The Best ICON Wallets

The following table is going to show you all the key criteria to focus on when choosing an ICX wallet. You should always pay attention to the wallet’s type, depending on your mobility and security preferences. What’s also important for some types of wallets are the operating systems, which are supported. Don’t forget to have a look at the supported coins list and finally get an overview of the advantages and disadvantages of the ICON wallet.

Type	Name	Compatibility	Supported Coins	Pros & Cons	Get Wallet
Desktop Wallets	Full Exodus Review	Windows Linux Mac	16 Coins 76 Tokens	Built-in Exchange Hierarchical Deterministic	Download
Hardware Wallets	Full Ledger Nano S Review	Windows Linux Mac	47 Coins ERC20 Tokens	Highest Security Costs around 100$	See Pricing
	Full Trezor Model T Review	Windows Mac App Store Google Play	40+ Coins ERC20 Tokens	Hierarchical Deterministic Costs Money	See Pricing
Mobile Wallets	Full ICONex Review	App Store Google Play	2 Coins ERC20 Tokens	Official ICON Wallet No Two-Factor Authentication	Download
	Full Trust Review	App Store Google Play	13 Coins ERC20 Tokens	Multi-Coin Support No Two-Factor Authentication	Download

02. Common Features of ICON Wallets

Since there aren’t that many options where to store ICX coins, it’s a bit hard to classify the features of the ICON wallets. Some of them have an open source code and hierarchical deterministic nature. What’s more – all of them, including the official core client are multi-coin supporting wallets. Most of them are missing the two-factor authentication feature, which requests you to add an additional security code to access your funds, but they still offer the standard encrypting password.

Security and Privacy

If you’re privacy orientated user, then you might be interested in the HD feature. This is basically a seed, which generates new addresses for your incoming transaction. By avoiding reusing the same address every time, you’re making you balance hard to trace. You additionally receive a seed phrase when initially setting up your ICON wallet, with which you’re able to easily and quickly restore your data to another wallet.

Open Source

The project’s open source code gives the opportunity to the ICON users to read it and propose any kind of modifications to be edited by developers. There’s also an opportunity to fork the code and create a completely new wallet.

Hierarchical Deterministic (HD)

Hierarchical deterministic wallets are known to have a seed. It generates you a new public key every time you place a transaction to keep your balance anonymous.

Secure ICON Wallets To Consider

Transaction Fee Management

The current transaction fee is fixed to be 0.01 ICX coin but according to the latest announcements of ICON’s developers’ team, this might get changed, depending on the volume of transaction in the network.

03.FAQ

Is there a reason for what ICX coins are sometimes listed as ERC20 tokens?

Initially, ICXs were created as ETH tokens, but later in 2018, they have been swapped for coins of their own blockchain. In a word, ECX tokens are useless, so don’t buy them instead of the ICX coin.
If I have some ETH ICON tokens, can I swap them for ICX coins now?

Unfortunately, the process of migration ended in October 2018.
Is there any use of the ICX tokens?

No, they are locked now and there’s nothing you can do with it.

04.About ICON

Located in South Korea, the ICON project is considered a company to connect independent blockchain worldwide. The Republic community has the function to let other projects freely interact with each other by implementing Community Nodes (C-Nodes). Using them you can broadcast transactions or use dApps. Anyway, their power is restricted only in the Republic network, but they’re considered the base of the ICON project, since being responsible for verifications, elections and delegating tasks to other participants. This is an innovative way for projects to work together while keeping their autonomy at the same time.