“Ethereum has a huge ecosystem and many cryptocurrencies and DeFi protocols are being regularly built in this ecosystem. These cryptocurrency tokens are based on ERC-20 standards laid down by Ethereum and requires wallets for storage and transaction that supports this standard. As 2022 like 2021 will be an year of crypto, we are providing you with a list of top 7 wallets that can be used for ERC-20 tokens”.
ERC20 Tokens: Basics
The ethereum network can be used to create various cryptocurrency tokens and decentralized apps that are backed by the power of huge ethereum network. Every token minted on the ethereum network must follow the ERC20 standard that lay down the rules regarding the tokenomics for each token. These ERC20 tokens can act as assets that can be sent and received through the ethereum’s ERC20 network. To receive and send these tokens, various wallets can be used that supports the ERC20 network and the top wallets that are best suited in 2022 for the ERC20 tokens storage and transactions are discussed here.
Top ERC20 Wallets
The top ERC20 wallets that remained of value throughout 2021 are:
Atomic Wallet (Hardware Wallet)
It is a free non-custodial wallet that provides support for all the ERC20 tokens. It can be created on all operating systems and has a unique feature of atomic swap that allows swapping of the cryptocurrency tokens in the wallet itself.
Ledger Nano X (Hardware Wallet)
The Ledger Nano X is regarded as the safest hardware cryptocurrency wallet and has the capability of storing the ERC20 tokens with ease. To access the tokens Bluetooth technology can be used to connect it to the Ledger’s live mobile application. It is famous for the provisioning of recovery seed cards and in providing USB-C cables for easy access.
KeepKey (Hardware Wallet)
KeepKey is one of the most premium hardware wallets in the market and is termed as another great wallet to store all types of ERC20 tokens. It provides easy backup and recovery mechanism.
MyEtherWallet (Web-based Wallet)
It is an ethereum based blockchain wallet that provides high end security for the storage of all types of ERC20 tokens. It is a web based wallet and thus provides easy access to the ethereum blockchain for the transactions to and fro.
MetaMask Wallet (Type: Web-based Wallet)
MetaMask is one of the most popularly used wallets for erc20 Tokens. It can be used as an extension to many browsers such as Mozilla Firefox and Google Chrome. Due to its multilingual user interface it is used globally. It is capable of storing all types of ERC20 tokens.
Mist Wallet (Web-based Wallet)
The Mist wallet provides an extensive security for the storage of ERC20 tokens with multiple signature authentication mechanisms in place. It is a well known web based browser for hasty ERC20 token transfer.
Trust Wallet (Type: Mobile App Wallet)
Trust wallet is a mobile app wallet that can be used to store, receive and send ERC20 tokens even on the move. The trust wallet provides extensive security for secure transactions and is thus widely used.
Disclaimer: The article is meant for the educational purpose only and in no way it should be considered as financial advice. Own research on the topic is advisable.
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