To promote the engineering application of VIMD in high-rise base-isolated structures, a 20-story base-isolated steel structure model was considered. First, the influence of the VIMD's inertance on the structure's natural periods was investigated. Then, 10 real ground motion records were selected from the Pacific Earthquake Engineering Research Center database and were scaled to match the target design response spectrum. The control characteristics and seismic mitigation effects of VIMD on the structural response were studied. Finally, based on the Davenport fluctuating wind speed spectrum, the spectral representation method was used to generate 10 stochastic fluctuating wind speed time histories. The control characteristics and wind-induced vibration mitigation effects of VIMD on the structural response were studied. The results indicate that VIMD can further extend the natural periods of the high-rise base-isolated structure, mainly in the first six modes. Under seismic excitations, the control effectiveness of VIMD on the relative displacement response of the isolation layer is comparable to that of Viscous Dampers (VD). However, the vibration mitigation ratios of VIMD for the response of the superstructure is improved by 19.5%-24.5% compared with that of VD. Under wind loads, VIMD and VD have basically the same response control capabilities for the high-rise base-isolated structure.