Get Started with IOST
Are you new to IOST cryptocurrency? This tutorial will get you started! IOST is a public blockchain network that enables high speed transactions and online applications. You can participate in the IOST network by creating your own IOST account.
The process of creating your IOST account can be compared to creating a bank account. Traditional bank accounts record fiat (USD, Euro) currency transactions on private, centralized bank ledgers. IOST records transactions on a secure public ledger using the native IOST token. This tutorial will show you how to:
- Create an account on the IOST blockchain
- Install wallet software to access your account
- Buy IOST tokens and deposit them into your wallet
- Spend IOST tokens from your wallet
- Earn rewards by staking your IOST tokens
If you need help you can contact us.
Step 1: Create an IOST account
The first step is to create an account on the IOST blockchain. You can create a wallet for free using the Inside IOST wallet creation tool.
Enter an account name. It must be unique on the IOST blockchain. It must be between 5 and 11 characters, lowercase letters and numbers. Check availability, complete the CAPTCHA and click ‘Create Account’.
The confirmation screen will contain your private key. You MUST keep a copy of this private key! Print out a copy of your private key and store it in a safe place! This private key will give you access to your wallet in the future. Without this private key, you cannot access your account., and any money held in your account will be forever lost.
You can create a free account by verifying your email address with Inside IOST. Or you can create a new account using your existing IOST wallet balance.
A fundamental tenet of blockchain technology is the ability to control your own wealth. No bank, exchange or institution can shut down your account or freeze access to your funds without access to your private key. Think of your private key as the only key to open a virtual safe. You must have the private key to open the safe, and nobody can help you open the safe without your private key. Inside IOST cannot help you access your wallet without your private key. Print out your private key and store it in a safe place.
You are responsible for holding and securing your private key! With this responsibility comes the privilege of controlling your own wealth.
Step 2: Install iWallet Chrome extension
In order to access your IOST account, you must access or install IOST wallet software . You will need your account private key in order to setup your wallet. There are several options for IOST wallet software. Inside IOST recommends the iWallet Chrome extension for your browser.
- Download and install the iWallet Chrome extension.
- Click on the gear icon in the upper right corner of the extension.
- Click on Manage Account.
- Click on the Import button in the upper right hand corner.
- Enter your private key key and click submit.
- You will now see your wallet available in your iWallet extension.
Step 3: Deposit IOST into your wallet
You can buy IOST on many crypto exchanges. Inside IOST has partnered with the ChangeNOW to buy and sell IOST for many popular cryptocurrencies.
Enter the amount of your payment cryptocurrency into the box titled ‘You Send’. ChangeNOW will automatically calculate the amount of IOST you will receive in exchange. Click the ‘Exchange’ button. Be sure your browser allows for popup windows.
You will be prompted with a popup with a wallet address field. Enter the name of your personal wallet. Be sure to enter the wallet name correctly. Click ‘Next’. Click ‘Confirm’ at the following screen to confirm your trade.
The following screen will provide an address to send your payment crypto. After you send your payment to this address, you will receive the IOST in your wallet.
Step 4: Spend your IOST
You can send IOST to another person from your IOST iWallet extension. Or you can spend IOST through applications (called dApps) that are programmed to work directly with the IOST blockchain. These dApps will connect to with IOST wallet through the iwallet Chrome extension you installed in step #2.
Inside IOST has demonstrated some dApps on our podast.
For some samples dApps, you can try:
Earn rewards by staking your IOST
IOST is ranked #1 for staking rewards and dividends by stakingrewards.com.
To vote for the Inside IOST partner node, go to our voting page. You must have iRAM in order to vote. You can purchase iRAM through the iWallet extension by clicking in the iRAM box. 1 KB of iRAM is enough to vote.
You must be signed into your iWallet Chrome extension in order to vote. Click on the ‘Vote for Inside IOST’ button and confirm your vote in the in the iWallet popup screen.
Inside IOST distributes voting rewards daily. You can claim rewards from our voting page by clicking on the ‘Claim your Bonus Rewards’ button.
While your IOST is staked, you do not have access to spend that IOST. In order to spend the IOST, you must unstake your vote. There is a seven day waiting period to unstake your IOST.