- What is ERC20?
- What are ERc20 wallets?
- Top 9 ERc20 wallet
The network of blockchain technology is spreading its roots to every corner of the world. Every day a new token is created. One thing common about the majority of these tokens is that they are ERC20 tokens or tokens built on the ethereum network.
The accessibility and transparency provided by the Ethereum blockchain technology allow developers to develop ERC20 backed tokens without developing the APIs. With the increase in ERC20 tokens, there has also been an increase in the ERC20 wallets.
Every crypto investor who has had his eyes on the ethereum network and its different forks is certainly looking for the best ERC20 wallets 2022. Here is a list that can make your search easier. But before we get into what these ERC20 wallets are let us first understand what is ERC20?
Also Read: Ethereum Tokens: ERC 20, ERC 721, ERC 1155
What is the ERC20 standard?
The second-largest cryptocurrency by market capitalization, Ethereum, is based on the use of tokens that can be traded, sold, and bought. Since its inception in 2015, Ethereum has become one of the driving forces behind the popularity of cryptocurrency. The ethereum network has been used to create numerous tokens and other Dapps.
These tokens that are backed by the ethereum network are called Ethereum tokens or ERC20 tokens since they have to follow the ERC20 standards. ERC20 is a technical standard that is used by all the smart contracts on the Ethereum blockchain for the implementation of the tokens. It provides the set of rules that all Ethereum tokens or ERC20 tokens must follow.
Additional Read: What is ERC-20 Ethereum Token Standard?
These ERC20 tokens are other blockchain assets that have value and can be sent or received. The only difference is that rather than running on their blockchain system these tokens are issued on the ethereum network.
How to choose the Best ERC20 wallet
Choosing the best ERC20 wallet is no rocket science. All you need to do is keep in mind a few factors that will drive your wallet preference. Although there are hundreds of ERC20 wallets out there, but if we keep these few factors in mind we can find the best pick for ourselves in no time. The factors to keep in mind while choosing the best ERC20 wallet are:
- Easy and user-friendly interface.
- The wallet must give you control over your private keys.
- The wallet must be compatible with your chosen device.
- Always choose wallets with backup options.
- Read and research about the team behind the ERC20 wallet.
Top 9 ERC20 wallets 2022
ERC20 wallets are nothing but digital wallets to manage all the ethereum tokens. The ether cryptocurrencies and ERc20 tokens are stored in this ERc20 wallet and are useful for ether transactions and other tokens. These wallets are fast and easy to manage. They even come in handy in discovering and tracking ethereum tokens.
These hardware wallets ensure the best security for the assets and also provide a comprehensive list of features. Here is the list of best erc20 wallets that will keep your ERc20 tokens safe.
|ERC20 wallet||Type of wallet||USP|
|Atomic wallet||Hardware||One of the most interesting features of this ERC20 wallet is the atomic swap feature. This feature lets you swap different cryptocurrencies|
|Ledger Nano X||Hardware||Ledger Nano X is also famous in the crypto community due to the presence of recovery seed cards and the availability of USB-C cables.|
|Ledger Nano S||Hardware||This ERc20 wallet is one of the cheapest hardware wallets at a very reasonable price.|
|KeepKey||Hardware||Apart from the ERc20 tokens it also supports a great range of cryptocurrencies.|
|MyEtherWallet||Web-based||It is a free ERC20 wallet and is web-based that allows crypto investors to directly access the ethereum blockchain.|
|MetaMask||Web-based||All the ERC20 tokens minted on the ethereum blockchain can be stored in this ERC20 wallet, MetaMask.|
|Mist Wallet||Web-based||This ERC20 wallet ensures top-level security and therefore requires the user to enter multiple signatures before entering into the wallet. It hardly takes seconds to send and receive the ERC20 tokens via this wallet.|
|Enjin Wallet||Mobile app wallet||This ERc20 wallet has quite a few advanced features for its users such as the Dapp browser, exchange swaps, and QR code for airdrops.|
|Trust wallet||Mobile app wallet||Trust wallet is also compatible with the Kyber network and Binance decentralized exchange. The wallet never reveals the data and remains private to protect anonymity.|
1. Atomic Wallet
It is a free non-custodial cryptocurrency wallet that supports all Ethereum tokens. The atomic wallet can be created and opened with the help of different operating systems such as Windows, macOS, Android, iOS, and Linux. One of the most interesting features of this ERC20 wallet is the atomic swap feature. This feature lets you swap different cryptocurrencies. It also has a built-in exchange option that even allows the investors to convert numerous cryptocurrencies using the platform.
The interface is great for beginners as well as experts. The atomic wallet also has its native token which is another ERC20 token, Atomic wallet Token (AWC).
2. Ledger Nano X
Ledger Nano X is an updated version of Ledger Nano S and has features that connect the wallet via Bluetooth to the Ledger Live Mobile application.
Ledger wallets are believed to be one of the best hardware wallets. This ledger ERc20 wallet has been designed such that it can store cryptocurrencies with extreme security. These Ledger wallets have been praised by many crypto traders and investors used to store their ether tokens and other cryptocurrencies.
Ledger Nano X is also famous in the crypto community due to the presence of recovery seed cards and the availability of USB-C cables.
3. Ledger Nano S
This ERc20 wallet is one of the cheapest hardware wallets at a very reasonable price. The crypto community is full of appreciation for this hardware wallet. The Ledger Nano S is known for its asset’s security features. The crypto investors are also rewarded if crypto assets are staked using the ledger wallet.
Keepkey is another great hardware wallet to store the ERC20 tokens. Apart from these tokens it also supports a great range of cryptocurrencies.
It is one of the premium hardware wallets present in the market and has some exceptional features.
This wallet is an ethereum-based blockchain wallet that is known for storing Ether and other ERc20 tokens with high-end security. It is a free ERC20 wallet and is web-based that allows crypto investors to directly access the ethereum blockchain.
MetaMask is one of the most popular ERC20 wallets. It is another web-based free wallet that works as an extension on different browsers such as Opera, Chrome, Firefox, and Brave. It is one of the most popular free web wallets for Ethereum giving direct access to the ethereum blockchain to crypto investors.
All the ERC20 tokens minted on the ethereum blockchain can be stored in this ERC20 wallet, MetaMask. The users just need the seed key set created during the time of wallet creation to access this wallet. This wallet even supports multiple languages and thus the investors get worldwide coverage. The Trezor hardware wallet is even compatible with MetaMask. Thus, the crypto geeks can now access their Trezor account details with web-based MetaMask.
Watch Youtube Video Guide on How to Setup a MetaMask Wallet
7. Mist Wallet
A desktop wallet officially designed for ether and other ERc20 tokens originating from the ethereum blockchain network. This wallet was developed by the Ethereum development team back in 2017 and is still available in its beta version. It can run on various Os including Windows, Linux, and Mac OSX.
Once the wallet is downloaded to the laptop the data gets stored in the PC while the user has complete control over the private keys. This ERC20 wallet ensures top-level security and therefore requires the user to enter multiple signatures before entering into the wallet. It hardly takes seconds to send and receive the ERC20 tokens via this wallet. There is no deduction of charges on transactions however, the network charges some fees during transactions.
8. Enjin Wallet
One of the best and most popular ERc20 wallets to store ether and other ERc20 tokens on mobile is Enjin wallet. It is available for download at both the Google play store and the App Store. Although it is new in the blockchain world but has quite a few prominent features that have made it quite popular in the crypto community. This ERc20 wallet has quite a few advanced features for its users such as the Dapp browser, exchange swaps, and QR code for airdrops.
9. Trust Wallet
This is another amazing ERC20 wallet supporting ether and other tokens minted on the ethereum blockchain. Binance acquired it in July 2018 and different features along with other coins were added later that. It has strong security features to protect your assets against hacking attacks. Since it has now become the official wallet of the Binance exchange, crypto investors can now easily make trades through this wallet. Trust wallet is also compatible with the Kyber network and Binance decentralized exchange. The wallet never reveals the data and remains private to protect anonymity. It can be downloaded from the Google Play store as well as the App Store.
Summing it Up!
Ether and ERC20 tokens have gained quite a popularity owing to their different use-cases and accessibility features. Most of the tokens minted on the ethereum blockchain have diverse utilities making them one of the most sought-after defi projects. According to experts these DeFi projects and the latest defi trends indeed can revolutionize the DeFi world and cryptocurrency market.
These are the basic reasons why ERC20 tokens are stored and widely used for sending and receiving funds. ERc20 wallets come in handy for such transactions. MetaMask, Trust Wallet, Ledger nano X are some of the most popular ERc20 wallets among crypto investors. Every crypto enthusiast who is fascinated by ethereum and its blockchain network has his eyes on these best ERc20 wallets.
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