In conversation With Ben He, Founder And CEO, imToken Wallet

Anisa Batabyal
| 06 February, 2019 | 2 min

imToken was established in May 2016, striving to bridge the gap between blockchain technology and general masses with a simple, secure yet powerful digital asset management tool. In the span of 2 years, imToken has expanded our outreach to millions of users from more than 200 countries, becoming the world’s largest Ethereum wallet.

Building a tool to lower the barriers of entry to digital asset management has always been one of the core principles of imToken. Decentralization and trustless transactions execution with smart contracts provided the essential building blocks for imToken team to create a one-stop wallet service platform for issuance, management, and trading cryptocurrency.

  • How did imToken come about as the world's largest Ethereum wallet? What made most of the people choose imToken over others?

We started very early, exactly before the big ICO graze started. At that time, cryptocurrencies came into mainstream and people were looking for an easy way to store and use their tokens. The imToken 1 app supported ETH and tokens based on Ethereum which covered already 90% of what people were looking for.

I would say, imToken’s features and if you ask me personally - the easy-to-use design - simply resonated with early adopters.

  • Your website reads: "imToken is a feature-rich digital wallet". Can you elaborate on the features present in imToken?

Since that early time, we developed further and published imToken 2.0. The new app is a complete overhaul of imToken 1 and offers a lot of gimmicks, most importantly supporting not only ETH but also Bitcoin and EOS as well as tens of thousands of tokens built on top of those blockchains.

If you ask me about personal favorites, I would say: The address book synchronized over IPFS, one-click decentralized exchange, and the open DApp browser.

  • imToken currently supports Bitcoin, Ethereum, ERC20 tokens, and EOS. Do you plan to support more in the near future?

Right, imToken 2.0 supports those, plus ERC721 tokens. Which you might know as cute Cryptokitties that life on the blockchain.

I get asked by different communities every day, whether we would like to integrate more blockchains in the future. As for now, we focus on supporting the most popular blockchain and continue to deliver features that no other wallet app has. We do hear the need for supporting more blockchains and will work together with the respective communities in the future.

  • Most of the people have no idea on how to choose a wallet and often rely on the opinion of others. What are the major things one needs to check before choosing a wallet?

If you are looking for a wallet, security is most important. You want to keep your tokens safe!

Simply check whether the wallet app allows you to hold the private key - i.e. the key to your tokens - on your own device. imToken does this.

You might have heard of tokens being stolen from exchanges. This can’t happen if you use a wallet such as imToken and then exchange tokens out of your wallet - for example using coinswitch ;)

Besides security, users have their own preferences.

  • You are based out of China, which is not a very crypto friendly country. Do you see things turning out to be different out there soon? What sort of hurdles did you face due to government restriction and how did you overcome it?

China had and might still have the biggest community of people interested in blockchain technology. For now, ICOs and exchange of cryptocurrency are not allowed. There is no doubt that any company must operate in compliance with local regulations, not only in China but in any country in the world. My suggestion is: Comply with Chinese laws.

  • China has been your home ground. When you raised $10 million around 8 months back, you wanted to expand beyond China. How's the expansion plan working so far and who do you think are your competitors?

For imToken, in fact, our biggest competitor is not other blockchain companies - the market is still small, so are no competitors. The users’ consciousness is what’s really challenging us. As a decentralized wallet, it is necessary to do more user education. This should be our biggest competitor and goal.

For overseas promotion, the whole market has changed very fast in the past year. We moved our headquarters to Singapore in the second half of 2018, and our overseas users are gradually growing. We are launching more exciting product features that meet our users’ needs at the right time, which is the right first step in expanding overseas markets. Check out our latest update in the app stores!

  • You are about to launch imKey, your flagship hardware wallet. Can you tell our readers more about imKey and its expected date of launch?

imKey is our strategic investment in early 2018, and it is also an important step for the wallet ecology. The reason for investing in this product is to meet the security needs of large-value assets. Furthermore, we want to meet the pain points of traditional hardware wallets with imKey being the first hardware wallet that imToken supports to help users manage their assets more easily and while being secure for large crypto amounts.

  • What are your future plans for imToken wallet?

For the future, we don’t see the wallet as *just* a wallet. Moreso, an ecosystem that enables users to leverage blockchain. This year we will focus on the wallet function, including our decentralized exchange, the DApp browser, hoping to really activate the user in imToken,

We are really looking forward to it. Thank you!

About CoinSwitch is the world’s largest cryptocurrency exchange aggregator which supports 300+ coins and over 45,000+ pairs. It provides an easier way of trading through global exchanges like KuCoin, IDEX, Changelly, Cryptopia, ChangeNow and Changer without creating an account on them. If you are interested in buying cryptos, do give it a try!