Edit Favicon feature in Blogger/Blogspot design tab not working; Not a square image error - SOLVED

It was very frustrating for me to add a Favicon to my Blogger/Blogspot when I tried it for the first time. 


The errors I faced were:
1) Not a square image
2) Javascript (void) error


It was very time consuming and I tried out many solutions over the internet and ultimately found out the easy and right solution. So, I am writing this post to help avoid the horror to other blogger/blogspot users.


SOLUTION:


Step 1: Goto the site - http://www.favicongenerator.com/



Step 2:  Locate the image that you would like to use as your Favicon (try to use small sized images as they can be easily comprehended in the small favicon size.


Step 3: Browse to the file's location on your computer and select the image.


Step 4: Press the Generate Favicon! button.


Step 5: Click "Click Here to Download Your Favicon!". After downloading, simply refer the image to the favicon gadget in blogger/blogspot.


Step 6: Only if you use your own site (other than Blogger/Blogspot). Copy and paste the following code to the <head> section of your webpages:
<link rel="shortcut icon" href="/favicon.ico" >
Note: Here, the downloaded favicon has to be pasted in the root directory. And favicon.ico has to be replaced with the file name which you have saved the downloaded favicon.