A lotsbestemming of community members have recently began enquiring about the safest and the most secure ERC20 token wallets. With Ethereum-based projects flourishing and a fresh Ethereum-based token out te the market every other day, the rente te the ERC20 wallets does not come spil a verrassing to mij.
Ethereum, today, is the most popular blockchain verhoging for wise contracts and DApps with more than 550 tokens hosted on it. This naturally calls for the need to get a safe and secure ERC20 token wallet.
Thesis tokens are called ERC20 tokens or Ethereum-based tokens because they all go after a similar set of rules at the early stages of implementation. (Read more: ERC20 article)
With time, thesis tokens are sure to increase ter value and potentially make you rich if you keep them safe for a long term. Hence, I think, it is apt to store your ERC20 tokens ter a wallet with following features:
- Private keys&ndash, Wallets where you control your private keys.
- Ease of use &ndash, Stijlvol UI for ease of use.
- Development community &ndash, Active development community.
- Backup &, security &ndash, Backup and restore features.
- Compatibility &ndash, Compatible with different operating systems.
Some ERC20 wallets that meet thesis standards have bot listed below.
The Best ERC20 Wallets Available
Wij have talked about Ledger Nano S on our blog innumerable times ter detail, raving about its features and how wij are always amazed by it. I repeat, this is the best cryptocurrency wallet that you can ask for.
It has an active development team with inbuilt security features of Speld, seed keys, and passphrases to secure your ERC20 tokens. Not just that, it also supports more than 20 cryptocurrencies te a single device and is continuously under development to secure some more currencies. (Which Cryptocurrencies Are Supported By The Ledger Wallet?)
You can use any ERC20 token on Ledger Nano S. It is also the cheapest multi-currency hardware wallet at $65. (Also, see this official tutorial to learn how to use ERC20 tokens on Ledger Nano S)
See this movie by Coinsutra&rsquo,s YouTube channel to learn how to set up your Ledger Nano S.
The Trezor wallet is one of the oldest hardware wallets te the cryptosphere and it is no verrassing that it supports all ERC20 tokens.
Just like Ledger, Trezor too comes with an OLED screen, seed key feature, Speld code protection and passphrase features to secure your ERC20 tokens. Also, Trezor’s development team is very active and respected te the community.
Trezor is certainly another hardware wallet that you can use for any type of ERC20 token. Here is the official guide for using ERC20 tokens on a Trezor device.
Trezor is available ter Trio colors &ndash, white, gray, and black &ndash, and costs $110.
MyEtherWallet is my go-to wallet when it comes to managing ERC20 tokens.
I have bot HODLing my PAY, CVC and other ERC20 tokens on MyEtherWallet without any issues and complaints.
It claims to be an offline wallet spil it uses a machine&rsquo,s browser to generate necessary gegevens, and nothing is everzwijn stored on MyEtherWallet servers. Also, you get the private key control so you need not trust any third party for the security of your funds.
However, spil it is a hot wallet, it is best not to store slew of funds on it. But if you are using MyEtherWallet with Ledger Nano S, it is the best wallet to be used because your funds cannot be stolen.
On its web browser interface, you can even use ERC20 stored on Trezor or Ledger Nano S via MyEtherWallet. (Check out our MyEtherWallet guide here)
MetaMask is another beloved Ethereum wallet that I love, and is also free to use.
It is like a browser to access the Ethereum network. It not only enables you to store and send Ethereum, but also permits you to manage ERC20 tokens on it.
Also, it has an active development team that has designed MetaMask ter a way that you are always te control of your funds via the seed key that you get during the initial setup.
It has an intuitive vormgeving where you can seamlessly switch inbetween a test network and the main Ethereum network. Here is a movie showcasing how MetaMask works:
Coinomi is a popular multi-currency mobile wallet that rose to fame for supporting forked coins. But just like a wallet that has an active community and an active development team, Coinomi also supports Ethereum and Ethereum based tokens (aka ERC20 tokens).
Also, this wallet keeps control of your funds at all times spil it is an HD wallet with a Speld code, seed key and the passphrase feature that you can enable anytime.
The token feature, however, is not active by default on Coinomi, which is why you need to set it up very first and then enable the token option by adding your chosen tokens.
Here is how you do that:
- Go to the overview section of wallet and click on ‘+ TOKENS’
Presently, it is only available for Android. The iOS support will be out soon.
The Top Five ERC 20 Wallets
If you observe closely, it is right to say that the Ethereum ecosystem has matured immensely. Therefore, you shouldn’t truly face any difficulty te finding the right ERC20 token for yourself.
The other two Ethereum and ERC20 wallets on my radar to review are:
I’m testing Trust wallet and it looks pretty awesome. It’s available on both iOS and Android and works flawlessly. A detailed review will go after soon.
Seems like they are one of very few to support #CLO pic.twitter.com/FYFO27IRhS
I have not used them yet but their UI looks extraordinaire. I will share with you my views once I have used them extensively.
That’s it for now from my side. I hope this list of ERC20 wallets will help you make the right decision when choosing where to store your Ethereum-based tokens. I would love to hear your practice if you have used any of the above wallets or any other ERC20 wallet.
Do let mij know your thoughts ter the comments below!
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