Ethereum is a decentralized cryptocurrency just like BTC it is used for the payment of goods and services and unlike the BTC, it supports smart contracts that allow users to build applications called Dapps on the Ethereum blockchain.
What is Ethereum wallet?
These are wallets used for storing the asset Ethereum and they differ with some supporting Ethereum and its tokens while others supporting Ethereum alone. Users are advised to take note of the Ethereum wallet they are using and if it supports Ethereum based tokens or not.
How to Create an Ethereum Wallet?
Ethereum wallets are free to create and do not require any form of payment before and after successfully creating one.
While TokenPocket supports creating of Ethereum wallet, it also supports the importation of an already existing Ethereum wallet and this can be achieved via different processes, with the use of private keys or mnemonic phrase words
- Click on Ethereum wallet from the wallet page
- Click on Create wallet
- Set wallet name — TokenPocket supports the creation and importing of more than one Ethereum wallet, to easily identify which is which, you can assign a name for every Ethereum wallet you create or feel free to leave the default name
- Set password — Password is required when you need to perform a transaction via your Ethereum wallet and this is limited to just TokenPocket.
- Hint- To easily remember your password, you can create a hint or leave the space blank
- Tick the terms and condition
- Click on Backup wallet from next page
- The next option is very important and users are advised to keep the words shown in a secure location. With this, you can easily import your Ethereum account if for any reason you formatted your device or misplaced it
If all was done successfully, then congratulations
Can I use TokenPocket on my computer?
Yes, you can import your Ethereum wallet to TokenPocket desktop version
What is Gas?
For your transaction to go through, you need to pay a little amount called gas fee which usually differs depending on the amount of Ethereum you are sending, this can be adjusted via the slider option shown to you when you click on gas fee from transfer page.
What should I do if failed to make the transaction?
This does not usually happen but transaction might be slow depending on how much you used as a gas fee (the higher your gas fee, the faster your transaction speed)
Can I “stake” Ethereum to Make a Profit?
At the moment, the Ethereum blockchain does not support the staking of Ethereum coin
Where can I trade Ethereum?
- You can swap other cryptocurrencies such as BTC, TRX, and other for Ethereum via the swap option available on TokenPocket
- You can trade for Ethereum with other cryptocurrencies on TokenPocket exchange which is available on TP wallet
- You can also trade Ethereum via Dex available onTokenPocket discover menu