Ethereum Account

General
What is ETH and how can I get it?
How to buy ETH via Simplex
Ethereum tokens in iMe
How do cryptocurrency wallets operate?
Seed phrase
Backup copy
Restore
What will happen with my savings if iMe Wallet breaks down?
How to make a transaction?
Can I cancel, replace, or do anything after making transaction?
ETH or tokens did not appear after the transaction was completed
My transaction failed. Why my funds were written off?

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General

The integration of iMe Wallet with Ethereum platform provide users with a new level of use of decentralized financial instruments.

The combination of a messenger with a crypto-wallet makes operations with cryptocurrency assets simple and convenient.

The messenger is based on a safe and progressive messenger - Telegram and cryptocurrency wallet is built on Ethereum blockchain.

Ethereum was launched in 2015 and is the world's leading programmable blockchain. Like other blockchains, Ethereum has its own cryptocurrency, which is called Ether (ETH). ETH is digital money which can be instantly sent to anyone in the world. The creation of ETH is not controlled by any government or company, it happens in a decentralized way.

To learn more about Ethereum, we recommend you to visit the official website https://ethereum.org/en/.

What is ETH and how can I get it?

ETH is the internal Ethereum currency. This is digital money which can be instantly and cheaply sent through the Internet and which is used in many applications built on Ethereum.

The easiest way to get ETH is to buy directly in the app. Or to transfer ETH to your address from other resources.

ETH purchase in iMe takes place through Simplex processing service.

How to buy ETH via Simplex

Our partner Simplex gives iMe Wallet users an opportunity to buy ETH safely using bank cards!

All you have to do is click on your Ethereum account balance and then "Replenish account” in the interface window.

A few things you should remember during this process:

There is the limit on first purchases - a minimum of 50$ and a maximum of 10,000$.

The daily limit of Simplex is 20,000$ and the monthly limit is 50,000$.

For purchases over 150$ Simplex service may request identification documents. The confirmation of your identity will not be required again.

If you have any problems with your purchase, you can contact Simplex by email - support@simplex.com.

Ethereum tokens in iMe

ETH cryptocurrency and tokens based on Ethereum can use the same address for holding cryptocurrencies and transferring it.

Ethereum account is the main one in iMe Wallet and all tokens in iMe have the same address as they are linked to ETH address via a smart contract.

Ethereum platform allows to create your own tokens, in particular ERC-20 standard.

Lime is a utility token on the Ethereum platform of the ERC-20 standard, in particular, designed to link internal centralized AiPoint coins with decentralized finance. This token was issued by the iMe project and will be placed on crypto-exchanges.

OLCertificate (OLCF) is the utility token of OLPORTAL project on Ethereum platform of ERC-20 standard, aimed at ensuring the decentralized functioning of neurobots, including for securing copyright and the principle of indisputability to the creators of the Artificial Intelligence products. This token is presented in partnership of iMe and OLPORTAL projects.

OLCF is available on the following resources:

We admit the appearance of new tokens, as part of a partnership with other projects.

How do cryptocurrency wallets operate?

Contrary to popular belief, cryptocurrency wallets are not designed for factual cryptocurrency storage instead it provides the tools which are required for interaction with the blockchain network. In other words, these wallets can generate the necessary data for sending and receiving cryptocurrency with the help of transactions. Among other things, this data consists of one or more pairs of public and private keys.

Wallet also includes a public address, which is an identifier in the form of a set of letters and numbers, which is generated on the base of public and private keys. This address is a kind of location in the blockchain, where you can send coins. This means that you can share your public address with another user to receive funds, but you should never show your private key or passphrase to anyone (Seed phrase).

Private key provides access to your cryptocurrencies, regardless of which wallet you use. Thus, even if your computer or smartphone has been lost, you can still access your funds from any other device but only if you have the appropriate private key (or Seed phrase). Please remember that the coins never leave the blockchain, they just move from one address to another.

Mobile wallet iMe Wallet is a software in the form of an iMe application, that you install and use on your smartphone. This type of wallet gives you full control over your keys and funds. When you create a new wallet, the set of words of the code phrase (Seed phrase) will be stored on your smartphone in a form a ciphered sort with a personal password.

Since you encrypt your wallet, you will need to enter your password every time you run the program. For convenience, entering iMe Wallet, a PIN code is installed, which additionally encrypts the password itself. If you lose your smartphone or forget your password you will lose access to your funds.

That is why it is always necessary to make a backup copy of the passphrase (Seed phrase) and store it in a safe place.

Seed phrase

Usually, in non-custodial wallets, a seed phrase is used to restore access to funds.

Seed is a sequence of 12, 18 or 24 words, according to the BIP39 standard. This standard contains a dictionary of 2048 words and protocols for generating keys BIP32-44-49-84-141.

With the Seed Phrase from the wallet, you can access funds in almost any non-custodial wallet application.

Accordingly, the reliability of storing the Seed-phrase is a primary task for the user of cryptocurrencies.

In some wallets, access to funds is carried out using a Private Key, it is a sequence of alphanumeric characters. It is worth noting that the private key provides access to only one specific address of the coin, while the Seed phrase gives full control over all the addresses of the coins that were generated in the wallet. In simple words - the Seed-phrase contains all the private keys from all addresses in the wallet at once.

Backup copy

The security of your wallet is only in your hands.

If you don't have a backup copy then you should to create one. Otherwise, if case of losing your smartphone or deleting the app, you will not be able to restore your account and all funds will be lost forever.

After creating Ethereum account, go to iMe Wallet settings and select "Backup".

Write down and save your 24-word passphrase. Do not store the passphrase on electronic media or devices with Internet access.

Only you have access to your wallet, private keys, and funds in your accounts.

With this phrase, you can always restore access to your wallet.

Do not pass the passphrase to anyone and keep it in a safe place.

Restore

To restore your Ethereum account prepare your passphrase – these are 24 words that you had to write down and save when creating a backup in iMe Wallet. If you restore the account that was created in other cryptocurrency wallets then the amount of control words may be less, for example 12.

Further, you need to create a password (at least 8 characters) that encrypts your key, and also create a PIN code for additional security and more convenient login to your account.

What will happen with my savings if iMe Wallet breaks down?

Nothing, you will just need to find another interface.

Actually, your funds are not in iMe Wallet. Your wallet exists on the blockchain itself and iMe Wallet simply offers a convenient way to interact with the blockchain easily for anyone.

If iMe Wallet failed, you would only need to find another interface on Ethereum blockchain, such as MyEtherWallet (MEW) which would give you access to your wallet.

The information that is used to access your wallet on iMe Wallet is the same information that is used to access your wallet on another platform. We always advise you to do your own research before entering your data in an unfamiliar app or website.

How to make a transaction?

iMe Wallet allows anyone with ETH balance to send a transaction with no additional costs. Using Ethereum blockchain requires gas, which is paid by ETH, so we recommend having at least 0.01 ETH to pay for about 2 to 3 transactions.

If you get an error that looks like this: "Not enough ETH to send", it means that you do not have enough ETH in your account to cover gas costs.

Each transaction (including transactions with tokens and contracts) requires gas, which is paid by ETH. You can treat this as a transaction fee.

There is a solution: buy or send 0.01 ETH to your account to be able to make the transaction.

More about gas:

A standard transaction will cost 21,000 units of gas, and the gas price is 0.00000002 ETH, so the total commission will be 0.00042 ETH.
The amount of gas with tokens is usually about 50 000 — 100 000 units, so total commission increases to 0.001–0.002 ETH.
The amount of ETH or tokens you send does not affect on the amount of gas you need to pay.
Gas limit is the maximum amount of gas you will send making a transaction. This is in units of gas.

Can I cancel, replace, or do anything after making transaction?

In 99.999% of cases, the answer is "NO".

Once miners have added a transaction to block that has been included in the blockchain, it cannot be canceled or replaced.

During the periods of normal load, transactions are "mined" for a few seconds and do not stay in the transaction pool for a long time. After making transaction, there is simply no time to cancel, replace, or rewrite it.

You can check the transaction status through Ethereum blockchain browser, for example Etherscan.io or Ethplorer.io.

ETH or tokens did not appear after the transaction was completed

If you can not find your funds, at first, you need to make sure that transaction was successfully transferred. If you have hash of the transaction, enter it in the search bar at Etherscan.io.

Example: Successful Transaction

Example: Failed Transaction

The absence of any red symbols or errors means that your transaction was successful! You can click on the button "To:" in transaction overview to go to the destination of the sent funds.

Carefully check the address to make sure that it is 100% the same as the address where you wanted to send the funds.

Even one wrong symbol means that the funds were sent to another wallet.

If you find an error in your transaction, it means that it was unsuccessful and your funds did not leave the initial wallet. You will need to make a few changes and remake the transaction in order it was successfully transferred. Depending on the error displayed, this can usually be easily corrected.

My transaction failed. Why was my money debited from my account?

In Ethereum network, gas is needed to perform transactions. Ether (ETH) is a fuel that is used for this purpose. When you send tokens, interact with a contract, send ETH, or perform other actions on the blockchain, you must pay for this calculation. This commission is expressed in gas, and gas is always paid in ETH.

You pay for the calculations regardless of whether your transaction was completed successfully or not.

Even if it does not "pass", miners must verify and execute your transaction, which requires computing power. You have to pay for these calculations — just as you would pay for a successful transaction.

You can view the transaction fee (gas limit * gas price) in ETH and USD when you find your transaction on Etherscan.io.

This is not the commission that iMe or any other service provider receives. This fee is paid to miners for mining transactions, verifying and adding it to blocks and blockchain protection.