Komodo Basics

Learn how to send, receive, and store your KMD. Read about how wallets work, the best practices for securing your KMD, and how to earn your user rewards.

Getting Started With KMD

Managing digital assets can be intimidating at first. There is so much to learn: addresses, recovery seeds, wallets, and user rewards. But don't worry! This guide will explain everything you need to know.

Invest five minutes into learning the essentials:

How to send and receive KMD
How to secure your KMD
How wallets work and what the best practices are
How to claim your KMD Active User Rewards

Avoid The Most Common Mistakes

Learn to protect yourself against hackers and scammers in a few easy steps.

Backup Your Keys

Your recovery seed (a list of 12 to 24 words - the order matters!) is the key to your wallet. You should always handle it carefully. If your computer or phone gets stolen, the only way to regain access to your coins is by using the recovery seed. Write it down and store it in a safe location.

Never Give Out Your Keys To Anyone

Giving your recovery seed to someone is the equivalent to giving someone all of your bank account information. Do not send your recovery seed to anyone, ever, under any circumstances, even if you have a problem with accessing your funds and need help. The Komodo Support Team will never ask for your keys or recovery seed.

Be Careful With Exchanges

Most wallets are non-custodial, meaning you control your own private keys through the recovery seed. Exchanges are different. When you send your KMD to an exchange, you don’t control the funds anymore; the exchange does. Don’t store large amounts of KMD on exchanges longer than necessary. It’s best practice to withdraw your coins as soon as you've finished trading. Or, better still, try AtomicDEX wallet, Komodo's non-custodial decentralized exchange.

Always Verify

Komodo, like all other blockchains, is immutable. Once you send your KMD to an address, there is absolutely no way to cancel or reverse the transaction or claim the coins back. An accidental typo can cost you a lot of money. Always verify that the address to which you are about to send funds is accurate.

The Komodo Basics

Komodo Ecosystem Address

Komodo Platform uses a standard address format that starts with an ‘R’. A single address works for the entire ecosystem. These are public addresses, and anyone can use them to send you coins.

Here is an example Komodo Address: RBxdFesfAGzo3YSTN7vVvh7KLvf71PWSqn

A Universal Seed For The Komodo Ecosystem

These addresses are generated out of a ‘recovery seed.’ A seed is usually 12-24 randomly generated words. All you need is one seed to backup all coins in case you access them on a new device

Here is an example Universal Seed:
Follow Chicken Know Equip October Exchange Brain Above
Uphold Neglect Crisp Kidney Camp Place Cruise Kick Garage
Entry Skate Detect Truck Reward Culture

Holding Your KMD: Wallets

Wallets are used to store and manage digital assets like KMD. Wallets come in several different varieties.

Online Wallets:

These are easy to use, but inherently insecure. We do not recommend using an online wallet for KMD, except maybe in emergency situations where there are no other options.

Desktop Wallets:

Computers are not necessarily more secure than phones, but they are harder to steal or misplace. However, you should not keep your entire portfolio on a computer that you use daily.

Mobile Wallets:

Mobile wallets are convenient, but they're only as secure as your phone. If a thief disappears with your phone, how much can you trust the fingerprint sensor or your PIN code? Mobile wallets are convenient, but please do not store your life savings on them.

Offline Wallets & Hardware Wallets:

Use these to secure funds that you are not planning on trading or sending in the near future. Putting your hardware wallet and its recovery seed in a safe-box is the most secure storage method. When used correctly, it is impossible to steal your funds without physical access to the hardware wallet device.

Here are a few sound wallet solutions we recommend:

Mobile & Desktop

Verus Agama
A multi-coin wallet for the Komodo ecosystem maintained by the Verus Coin project.

Hardware

Ledger & Trezor
Hardware wallets are a secure and convenient option to manage your portfolio.

Offline

DIY Paper Wallet
A simple offline signing solution for your convenience and peace
of mind.
Browse All Wallets

Securing Your KMD: Backups

Double check that you have made backups before you send coins to your new wallet.
Make sure you take backups
Guide: Best Backup Practices
Offline storage is always a safe bet
Guide: How to create an offline paper wallet
Never store private keys in unencrypted format 
Protect yourself against physical theft and loss

Claiming KMD Active User Rewards

You accumulate user rewards automatically when you hold more than 10 KMD.
KMD coin has active user rewards that are accumulating when you hold your coins under your control – in a KMD wallet, rather than on an exchange. These rewards cap after one month if the wallet has no activity. Many KMD wallets have built-in user reward claiming tools.
Read our guide on how to claim KMD rewards.

KMD User Rewards Calculator

Claim monthly and you will keep accumulating more coins!

Your new total:

0.00 KMD

Ready to learn more about KMD features?
Learn More

Still have questions or need a little help? Head over to our support portal and submit a ticket.

User Support Portal
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