Here Are Best Wallets To Store Your ERC20 Tokens!
Tokens built on Ethereum Blockchain needs to be stored in ERC20 tokens compatible Wallets. 2017 flooded with hundreds of ICO’s on Ethereum blockchain. ICO’s sold and people bought. However, since the first few months of 2018, that hype seems to have calmed down a bit, even though there’s still plenty of excitement. This is an excellent opportunity to look into various Ethereum wallets which can store ERC20 tokens. As is always the case, hardware wallets are the best solution, but there are alternatives available as well. In this articles, i have listed down “Best ERC20 Tokens Compatible Wallets”
Ethereum, today, is the most popular blockchain platform for smart 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.
These tokens are called ERC20 tokens or Ethereum-based tokens because they all follow a similar set of rules at the early stages of implementation.
List of ERC20 Tokens Compatible Wallets | Where To Store ERC 20 Tokens
There are many different ERC20 compatible wallets. Following is a list of some of the most ERC 20 Tokens compatible wallets:
Ledger Nano S
Being one of the most popular hardware wallets, the Ledger Nano S sports a sleek design with a small OLED screen and support for multiple crypto assets. The presence of screen means that even if you are using the device on a compromised computer, your funds cannot leave the wallet without your approval. The user has to enter a pin to authorize any transaction. It can also be used for 2FA authentication (Alternative for SMS and Google authenticator).
Not to forget that Ledger Nano S is also the cheapest multi-currency hardware wallet at $65
Click here to Buy Ledger Nano S.
Trezor, came into the market in 2013 and was one of the first hardware wallets to be developed. It bears a bigger display than the Ledger Nano S but it can still fit in your pocket. Along with multiple cryptocurrency support, Trezor also supports ERC20 tokens, which is a huge bonus.
Currently, Trezor is priced at $99. Click here to buy Trezor
MyEtherWallet (MEW) is a ‘Free, open-source, client-side interface for generating Ethereum wallets & more.
To put it simply, MEW is a cryptocurrency wallet which supports Ethereum and all tokens that are built on Ethereum’s blockchain – called ERC20 tokens. This is extremely helpful for the investor that has many cryptocurrencies and doesn’t want hundreds of wallets for all of them.
MyEtherWallet gives you the ability to generate new wallets so you can store your Ether yourself, not on an exchange. This process happens entirely on your computer, not the servers. Therefore, when you generate a new wallet, you are responsible for safely backing it up.
However, if the private keys are stored on the hard disk of a compromised system, then your funds may be at huge risk.
MetaMask does not store your private keys on its server. In fact, your private keys are stored locally on your browser and it is also password protected. With MetaMask, you can send Ethereum to other addresses directly without having to leave your workspace. MetaMask is easily accessible from your desktop and runs dApps directly on the browser. Although, it is designed to be as secure as possible; since the wallet is present on the browser, it is very vulnerable to attacks.
Click here to download MetaMask
Coinomi wallet is one of the best cryptocurrency wallet which supports over 85 cryptocoins.
When it comes to security, it still remains the best.
- Your private keys are stored on your device.
- No personal details in needed to access your account.
- One time backup (HD security , BIP44)
Some More ERC20 Tokens Compatible Wallets
- Mist (Desktop)
- Parity (Desktop)
- imToken (iPhone)
- imToken (Android)
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Rohit Kukreja is a Commerce graduate with Financial Markets expertise involving Stocks, Forex, Futures & Options Market and now Bitcoins & Cryptocurrency Markets. Blockchain Enthusiast but not a techie, Rohit is an active member of various Blockchain & Crypto communities all over India.