Looking for a safe and secure ERC20 wallet, then you have come to the right page.
As we all know Ethereum is one of the most popular blockchains for new crypto projects as it easily allows them to create utility tokens to fund the development of their projects.
With the influx of investors into these projects, there was a demand to store these tokens also known as ERC20 tokens in wallets that are easy to use, compatible, safe, and secure.
In this guide, I will be listing out the most trusted and credible wallets to store your ERC20 tokens. I have listed them on the basis of the following four parameters.
- Easy to use.
- Access to Private key.
- Easy to create Backup and Restore.
- Compatible with different Platforms.
So. let’s get started.
Best ERC20 wallets:
The first one on our list of Best ERC20 wallets is My Ether Wallet also known as MEW.
Anyone who has invested in Ethereum or in ERC20 projects might have used this wallet for the first time.
It is one of the most recommended wallets from the Ethereum community and to store ERC20 tokens.
It is a free, opensource web wallet and I have personally used it many times for different purposes. It has a very simple and easy to understand user interface.
Being a web wallet it is still many times secure than other wallets in the market. Nothing is stored on their platform, that is why when you set up MEW it will ask you to write down the Private key and the Backup phrases.
Still, I would not recommend you to use it to store your ERC20 tokens or Ethereum for long term holding. For a short duration, you can certainly use it.
As a web wallet, you can access it on any device that has a web browser or you can now download its mobile app which is available for both Android and iOS.
Do not download any other application to access it as most of them are scams. I personally use it for trading purposes and not for holding my crypto assets.
Metamask is an open-source browser extension that acts as a bridge between your browser and the Ethereum blockchain. It is a web wallet exclusively to store Ethereum and ERC20 tokens.
Here is an explainer video on MetaMask
You can add the extension to any browser that is built on chromium platform, for example, Google Chrome, Brave, and Edge. I have been personally using it on my Chrome and Brave browser.
With MetaMask you get access to your wallet’s Private key and you can also create a backup of your wallet while setting it up for the first time.
It has a very simple user interface and can be easily installed and set up with only a few clicks. I only use it to trading it on Ethereum DEX or while using Ethereum dApps.
As it is a web wallet I do not recommend holding your crypto assets for the long term in it. You can also connect it to other ERC20 wallets such as Atomic Wallet.
3. Atomic Wallet:
Atomic Wallet is a custody free Muti-cryptocurrency wallets that supports all top blockchains and more than 500 tokens.
It is available on both desktop and mobile platforms. As a custody free wallet, you get access to your Private keys and while setting up the wallet it will ask you to create a backup.
Three features that make it superior to any other cryptocurrency wallets available in the market are
- Buy Crypto – You can buy cryptocurrencies using your credit card.
- Atomic Exchange – Swap cryptocurrencies using the Atomic Swap.
- Staking – Stake your favorite POS coins and start a passive income stream.
I personally have been using the desktop version of this wallet to hold cryptocurrency assets for the long term and for staking.
If you are interested in knowing more about this wallet then you can read the following articles listed below.
4. Ledger Nano (X & S):
Both Ledger Nano X and Ledger Nano S are the best available hardware wallet for your ERC20 tokens.
A hardware wallet is a cold wallet which means they are good for holding cryptocurrency assets for the long term.
These ERC20 token wallets are highly recommended for those individuals who are occasional traders or are long term holders.
They both come with a very simple and easy to use user interface. Private keys are generated and stored inside the wallets and you can also create backups of your wallet.
They both come with free shipping and lifetime upgrades. The cost of Ledger Nano X is $119 and the cost of Ledger Nano S is $59.
To know the difference between both the wallets you need to check this page.
5. Trust Wallet:
Trust wallet is a mobile-based opensource Multi cryptocurrency wallet. It is the official wallet of the Binance Exchange.
Trust wallet supports ERC20 tokens and also BEP2 tokens. You can easily connect it to Binance DEX and Kyber Network.
With it, you can directly access dApss within the wallet which has been made possible with the integration of Web3browser.
I have personally used it to trade a few of my ERC20 tokens which were listed on the Binance Exchange.
The private key of your wallet is stored locally and is protected by many layers of security which makes it safer. You can also create a backup of your wallet.
For all the wallets listed in this article, I have also mentioned the reason why I am using them or why I had used them.
You can also do the same or you can decide what suits you according to your requirement.
It is always advised to keep a written record of your Private key and the backup phrases on a piece of paper.
Please keep them somewhere safe so that in time of emergency you can get access to your wallets.
It is always advised to treat your crypto wallet in the same manner as you treat your Fiat wallet or pocket wallet. So that you do not lose them.
Never reveal your Private key to anyone and never disclose the backup phrases of your wallet.
Handpicked articles for you:
In The End:
Thanks for reading my articles about the 5 best ERC20 wallets in 2020. I hope you enjoyed reading it as much I enjoyed writing it for you.
I hope you have got all the relevant information required to choose from one of the listed ERC20 wallets.
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By The Numbers: The Rate Bitcoin Must Climb To Reach $100K By July
Bitcoin is a numbers game through and through. There are only 21 million BTC. The code and its consensus algorithm are both made up of complex math. The total coins are slashed in half every four years, and so on and so fourth.
Most important of all, here’s the growth rate Bitcoin price must hit steadily to reach $100K per BTC by July 2021 according to one crypto capital manager – as well as the one thing that could get in the way.
Bitcoin Price Growth Rate Should Take Crypto Valuation To $100K By July
Bitcoin’s growth from virtually worthless to more than $60,000 per » Read more
” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin came to be reads as if it was ripped from a sci-fi film: Mysterious person takes a shot at all money, and takes no credit for the monumental effort.
” href=”https://www.newsbtc.com/dictionary/satoshi/” data-wpel-link=”internal”>Satoshi’s creation is now more than a decade old and has grown far beyond most people’s expectations. Over the last year alone, the leading cryptocurrency by market cap has grown at a daily average rate of 0.65% since April, resulting in a nearly a ten times climb in value.
At the current pace, according to crypto capital manager Timothy Peterson, Bitcoin price would reach $100K by June 30th.
At only a daily growth rate of 0.64% the top crypto should hit $100K by July | Source: BTCUSD on TradingView.com
The One Factor That Could Cause BTC To Fall Short Of Target
Bitcoin price must maintain comparable momentum over the last year to keep climbing at a similar rate and reach more than $100K per » Read more
” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin. The number is now closer to the current price action than $10K is, and thus potentially more achievable.
Price predictions for the next cycle top reach as much as $400K, with estimates more steeped in reality ranging from $125,000 to $325,000 per BTC.
The rally could really be over if the historically accurate signal is right again | Source: BTCUSD on TradingView.com
There’s a chance, however, the cycle top is in, according to the Pi Cycle Top Indicator. If the historically accurate tool is right yet again, the leading cryptocurrency’s daily growth rate will begin to decline from here on out until another bull market breaks out.
Bitcoin price wouldn’t make it to $100K by July, and a return to prices much lower would follow. If that’s the case, crypto investors would have to wait a while longer for the number one cryptocurrency by market cap to reach that ultimate target.
Featured image from Deposit Photos, Charts from TradingView.com
Bitcoin’s time has come: TIME magazine to hold BTC on balance sheet
Institutional fund manager Grayscale has partnered with acclaimed New York-based magazine TIME to produce an educational video series on the subject of crypto assets.
The partnership was announced on April by Grayscale’s CEO, Michael Sonnenshein, with Sonnenshein revealing that TIME and its president, Keith Grossman, will receive payment in Bitcoin.
Further, TIME does not intend to convert the Bitcoin it receives through the deal into fiat, and will hold the crypto asset on its balance sheet. No further details of the partnership have been revealed so far.
— Michael Sonnenshein (@Sonnenshein) April 12, 2021
TIME was first published on March 3, 1923, with the magazine and online publication having been active in the crypto space of late. In March, TIME cashed in on the NFT mania by dropping a set of tokenized magazine covers on NFT marketplace SuperRare, with the “TIME Space Exploration – January 19th, 1959” NFT fetching 135 ETH worth almost $250,000 on March 30.
“The media industry is undergoing a rapid evolution. TIME is seeking a Chief Financial Officer who can help guide its transformation,” the listing said.
According to Bitcointreasuries.com, TIME will become the 33rd publicly traded company to hold Bitcoin on its balance sheet. TIME joins the ranks of top U.S. companies Microstrategy — who have invested billions into BTC from August 2020, Square — who added 4,709 BTC to their treasury in October, and Tesla — which purchased $1.5 billion worth of BTC in January. Multinational investment corporation Blackrock also began dabbling in crypto during February, profiting more than $360,000 from a small long using Bitcoin futures.
This deal marks a significant partnership between giants of the mainstream and crypto worlds. Grayscale was founded in 2013 and has $46 billion worth of crypto assets under management, including roughly 3% of Bitcoin’s total circulating supply.
Moonstake integrates with Sylo to bring their staking protocol to the Sylo Smart Wallet
Moonstake, a staking pool protocol and service provider, has announced a new partnership with Sylo, a decentralized software development firm and the creators of the Sylo Network and Sylo Smart Wallet.
Through this collaboration, Moonstake will connect Sylo with their robust API/SDK solution, thereby enabling staking functionalities in the Sylo Smart Wallet and allowing Sylo users to earn passive income from their idle crypto assets.
Founded in 2010, Sylo is committed to decentralization and has created an ecosystem consisting of digital consumer wallet software, applications, infrastructure, and developer tools in order to usher in a decentralized future worth looking forward to.
A unique wallet app that combines digital asset management with decentralized communication, the Sylo Smart Wallet is a savvy decentralized e-wallet that enables users to purchase, store, track, send, and receive crypto assets, explore the world of Ethereum dApps by means of a Web3 Browser, pay with cryptocurrency in the real world, and provides secure communications by chat or audio/video call.
“We’re pleased to offer our community of global users yet another way to access the benefits of crypto. As always, our user flow has been designed with simplicity in mind, and staking via Moonstake in the Sylo Smart Wallet will make earning from digital assets simple enough for people everywhere.”
– Dorian Johannink, Co-Founder and Business Director of Sylo
Born over a year ago with the aim to create the largest staking network in Asia, since its inception Moonstake has developed highly user-friendly wallets for both Web and Mobile (iOS/Android) that are compatible with over 2000 cryptocurrencies.
After a full-scale operational launch in August 2020, Moonstake’s total staking assets have grown rapidly to reach USD 800 million in staked assets over just six months. Within a year of its founding, Moonstake became ranked in the top 10 of the world’s premier staking service providers and it continues to strongly expand its business.
“The Sylo Smart Wallet is an interesting e-wallet that combines the functionality of a flexible digital asset management tool and a secure instant messaging app. We are happy to help proper crypto projects like Sylo enable staking in their wallet so that users can have more ways to earn with crypto. With a wide selection of PoS coins and attractive yield rates from our high-quality staking pools, we are confident that users will be pleased with their staking experience on Sylo powered by Moonstake.”
– Mitsuru Tezuka, Founder of Moonstake