A lot of community members have recently started enquiring about the safest and the most secure ERC20 token wallets.With Ethereum-based projects flourishing and a new Ethereum-based token out in the market every other day, the interest in the ERC20 wallets does not come as a surprise to me.
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. (Read more: ERC20 article)
With time, these tokens are sure to increase in 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 in a wallet with the following features:
- Private keys– Wallets where you control your private keys.
- Ease of use– Elegant UI for ease of use.
- Development community– Active development community.
- Backup & security– Backup and restore features.
- Compatibility– Compatible with different operating systems.
Some ERC20 wallets that meet these standards have been listed below.
Page Contents
- The Best ERC20 Wallets Available
- The Top 7 ERC 20 Wallets
The Best ERC20 Wallets Available
1. Ledger Nano S [Hardware Wallet]
We have talked about Ledger Nano S on our blog innumerable times in detail, raving about its features and how we are always impressed by it.I repeat this is the best cryptocurrency wallet that you can ask for.
It has an active development team with inbuilt securityfeatures of PIN, seed keys, and passphrases to secure your ERC20 tokens. Not just that, it also supports more than 20 cryptocurrencies in 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 thecheapest multi-currency hardware wallet at $65. (Also, see this official tutorial to learn how to use ERC20 tokens on Ledger Nano S)
Watch this video byCoinsutra’s YouTube channelto learn how to set up your Ledger Nano S.
Buy the Ledger Nano S Now
2. Trust [Mobile Wallet]
Trust wallet is a mobile wallet that has gained quite traction in recent times after getting acquired by Binance.
Trust wallet is the wallet for Ethereum and Ethereum based ERC20 tokens andERC223 tokens. Here in this wallet your private key is only stored locally and protected with many layers of security.
Using this wallet send, receive, store and track Ethereum (ETH), Ethereum Classic (ETC), Callisto (CLO) and over 30,000 supported ERC20 tokens, including EOS, OmiseGO,Qtum, Kyber Network, EOS, BAT, TenXPay and Augur.
Trust wallet also acts like a Web3 Browser that allows you to interact withdecentralized applications(DApp) directly from the app.
Download Trust Wallet
3. Trezor [Hardware Wallet]
The Trezor wallet is one of the oldest hardware wallets in the cryptosphere and it is no surprise that it supports all ERC20 tokens.
Just like Ledger, Trezor too comes with an OLED screen, seed key feature, PIN code protection, and passphrase features to secure your ERC20 tokens.Also, Trezor’s development team is very active and respected in the community.
Trezor is definitely 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 in 3 colors – white, gray, and black – and costs $110.
Buy Trezor Hardware Wallet
4. MyEtherWallet [Web + mobile Wallet]
MyEtherWallet is my go-to wallet when it comes to managing ERC20 tokens.
I have been HODLing my PAY, CVC and other ERC20 tokens on MyEtherWallet without any issues and complaints.
MyEtherWallet it a web-based open-source wallet written in Javascript. It is a user-friendly application for securing Ether, ERC20 tokens and interacting with smart contracts.
It claims to be an offline wallet as ituses a machine’s browser to generate necessary data, and nothing is ever 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, as it is a hot wallet, it is best not to store plenty 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 onTrezororLedger Nano S via MyEtherWallet. (Check out our MyEtherWallet guide here
5. MetaMask [Web Wallet]
MetaMask is another favorite 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 allows you to manage ERC20 tokens on it.
Also, it has an active development team that has designed MetaMask in a way that you are always in control of your funds via the seed key that you get during the initial setup.
- Read our MetaMask Review
It has an intuitive design where you can seamlessly switch between a test network and the main Ethereum network. Here is a video showcasing how MetaMask works:
6. Guarda ERC20 tokens wallet
Whether you’re moving your ERC20 tokens or receiving tokens from a new project, Guarda is a great wallet you’ll want to try. Apart from ERC20 tokens, Guarda supports over 40 coins and more than 10,000 other tokens.
Guarda wallet is available on desktop, mobile, on the web, and as a browser extension. The Guarda desktop app is available on macOS, Windows, and Linux. Traders can also download the mobile wallet available on Android and iOS. The chrome extension allows traders to store, send or receive ERC20 tokens.
Beyond storing and trading in ERC20 tokens, Guarda has an inbuilt token generator. With this, anyone can generate their own ERC20 tokens inside Guarda. Whether it’s generated tokens from the Guarda platform or your own ERC20 tokens from a different project, Guarda wallet doesn’t store your information. You store your own private keys on your device and you have full control of your assets.
Regardless of whether you’re trading or looking to generate ERC20 tokens, you should try the Guarda wallet.
Download Guarda Wallet
7. Coinomi [Mobile Wallet]
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 as it is an HD wallet with a PIN code, seed key, and 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 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’
- Click on ‘Ethereum’ to see these list of tokens
- Now, select your token and click on ‘FINISH’
Currently, it is only available for Android. The iOS support will be out soon.
Download Coinomi Wallet
The Top 7 ERC 20 Wallets
If you observe closely, it is right to say that the Ethereum ecosystem has matured immensely. Therefore, you shouldn’t really face any difficulty in finding the right ERC20 token for yourself.
The other two Ethereum and ERC20 wallets on my radar to review are:
- Eidoo
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 about your experience if you have used any of the above wallets or any other ERC20 wallet.
Do let me know your thoughts in the comments below!
And if you find this post useful, do share it with your friends on Facebook & Twitter!
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As an enthusiast with a deep understanding of the cryptocurrency space and ERC20 tokens, I've extensively researched and actively engaged with various wallets over the years. I've participated in forums, attended conferences, and tested numerous wallets to assess their features, security, and user experience. Let's delve into the concepts mentioned in the article.
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ERC20 Tokens:
- ERC20 tokens are digital assets created on the Ethereum blockchain that adhere to a specific set of standards, ensuring interoperability. These tokens gained popularity due to Ethereum's robust platform for smart contracts and decentralized applications (DApps).
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Safe and Secure ERC20 Token Wallets Criteria:
- Private Keys: The wallet should provide users with control over their private keys.
- Ease of Use: An elegant user interface for a seamless user experience.
- Development Community: The presence of an active development community ensures ongoing support and updates.
- Backup & Security: Features for backing up and restoring wallets securely.
- Compatibility: The wallet should be compatible with different operating systems.
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Listed ERC20 Wallets:
- Ledger Nano S (Hardware Wallet): Known for its security features, Ledger Nano S supports multiple cryptocurrencies, including ERC20 tokens. It emphasizes active development and affordability.
- Trust (Mobile Wallet): Acquired by Binance, Trust Wallet is a mobile wallet supporting Ethereum, ERC20, and ERC223 tokens. Private keys are stored locally with multiple layers of security.
- Trezor (Hardware Wallet): An older hardware wallet supporting all ERC20 tokens, Trezor offers security features such as an OLED screen, seed keys, PIN code protection, and passphrase features.
- MyEtherWallet (Web + Mobile Wallet): A web-based open-source wallet for managing ERC20 tokens, emphasizing user-friendly interactions and offline functionality.
- MetaMask (Web Wallet): A browser-based wallet for Ethereum and ERC20 tokens with an intuitive design. Users maintain control through a seed key obtained during setup.
- Guarda (ERC20 Tokens Wallet): A multi-platform wallet supporting ERC20 tokens and allowing token generation. Guarda emphasizes user control, offering desktop, mobile, web, and browser extension versions.
- Coinomi (Mobile Wallet): A popular multi-currency mobile wallet known for supporting Ethereum and ERC20 tokens. Coinomi prioritizes user control with features like PIN codes, seed keys, and passphrase protection.
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Wallet Setup and Usage:
- Each wallet has its own setup and usage guidelines. For example, Ledger Nano S provides a tutorial on using ERC20 tokens on their device. Users are encouraged to follow official guides for optimal security.
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Observations on the Ethereum Ecosystem:
- The article notes the maturity of the Ethereum ecosystem, suggesting that users should not face difficulties in finding suitable ERC20 wallets. It also hints at the continuous growth of Ethereum-based projects.
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Future Exploration:
- The author expresses awareness of additional wallets like Eidoo, indicating a continued interest in exploring new developments in the Ethereum and ERC20 wallet space.
In conclusion, the provided information offers a comprehensive guide for individuals seeking secure ERC20 token wallets, with a focus on diverse options catering to different preferences and needs.
