What is ERC-20?Before discussing ERC-20 wallets, let's quickly discuss ERC-20. A token can generally represent any asset that has a value attached to it. In this case, we are talking about tokens which represent a smart contract and use of the Ethereum blockchain. There are several tokens native to the Ethereum blockchain. These tokens can be traded, bought or sold. ERC-20 is a token protocol for all tokens implemented by the Ethereum blockchain (Token protocol means rules or standards that the token must follow). All tokens which implement the protocol become a compliant token of ERC-20. The technical specification of this protocol comprises six functions that ensure that all tokens based on the Ethereum system work anywhere on the platform. Most cryptocurrency wallets that support Ether tokens support ERC-20 based tokens. There are a few native wallets for these token a well. Here are a few of the best wallets for ERC-20 compliant tokens.
Hardware WalletsMost users prefer to use hardware wallets. A hardware wallet is the most secure storage unit for cryptocurrency. There are several expensive and inexpensive hardware wallets on the market. Here are a few which support the ERC-20 token:
- Ledger Nano S
Mobile SupportWallets compatible with the iOS or Android platform are handy. They can be operated with ease and generally have a good GUI. There are significant worries over security issues, but good wallets are generally secure.
- MetaMask (ERC-20 Wallet)