TOP 6 BEST WALLETS TO STORE YOUR ERC-20
CRYPTO BUSINESSIn 2017/2019, There are many projects supported by ethereum network up to this time Which makes ethereum the most popular platform for smart contracts and The most Token type under ethereum token used are ERC-20 tokens with different projects that lead to the initiative of different platforms support ERC-20 TOKENS.
This article will show the major trusted and popular wallets to store ERC-20 token. Therefore I think it is imperative to mention conditions a credible ERC-20 token wallet should meet:
Backup & restore: To store and retrieve files easily
Compatibility: Works on a varying operating system
User-friendly: Stylish with a good UI(user interface)
Development community: Availability of active developers
Private keys: You must have control over your wallet
1. Myether WalletMyetherwallet is an open-source web-based service wallet. It is the top choice for some when it comes to securing their ether mostly due to convenience. ERC20 token aid seamless communication with smart contracts. It is normal when people get skeptical about online storage after considering how malware and cybercrime keep increasing at every passing day. Be rest assured that your data are saved and secure because it uses a machine's browser to generate relevant data and never save any data on their server.
It is not a wise course of action to save all funds on this platform because it is an online platform, where 100% of safety might not be guaranteed. Beware of phishing sites especially. For extra safety, couple the use of Myetherwallet with a hardware wallet like ledger nano s or Trezor which necessitate all outgoing transactions with a confirmation on your hardware wallet.
2.MetamaskMetamask is a browser extension that allows the same functions, features, and ease of access like an ethereum wallet. You can interact with dAPP (distributed autonomous application) and smart contracts without stress; you don’t have to install any software, just get Metamask in your browser extension and start using a portable yet proficient wallet for your ERC20 token.
It is by far one of the most flexible web wallets, which has active development experts who have designed metamask in a way that makes it easier for investors to stay on top of the controlling of their funds through the seed words generated at first setup. This browser extension not only serves as a storage solution for all ERC20 in existence but also as an Ethereum blockchain browser where you can access other Dapps like a crypto kitty, simply amazing if you ask me.
3.CoinomiCoinomi is a wonderful crypto wallet that provides supports to more than 70 coins. It keeps your private keys as private as it sounds, right on your device. It gives you full control of the funds and by providing you with a master password, it helps to protect your account against hackers and malware of any sort. The developers claimed coinomi as the quickest and most convenient wallet solution when it comes to cross-chain transaction and payment. One demerit is that it is still only functional on the Android platform. However, they announced some months back that they are working on the soon to be released IOS version.
4.TrustTrust provides full support for any ERC20 and ERC223 token in the market. Albeit being lesser known to the public, Trust is a completely open-source wallet and one of the most popular option that supports not only the ERC20 but also the ERC223 token. A few unique selling points of Trust includes its introduction of Android and IOS wallets as well as its partnership with Kyber Network that will essentially allow the wallet owner to perform instant trades on a decentralized exchange. Not only, but Trust wallet also allows its users to access Dapps directly from their wallet which is made possible with the integration of the Web3 browser. It is definitely an option worth checking out.
Available on Android | IOS
5.ParityParity is quite a popular choice among the Ethereum enthusiasts. It is an Ethereum client that not only allows its user to access the function of a token wallet but also features an Ethereum GUI browser like some of its counterparts ( e.g. Trust ) that provide user access to decentralized applications. Parity is also a full node wallet and is available for multiple platforms like Windows, Ubuntu, Docker as well as OSX. The development team is also very active, constantly making releases every 6 weeks. It is believed that Parity will roll out native support for ERC223 Ethereum token in the near future which is definitely something to look forward to.
6.MistMist is another wallet worth checking out. It is the so-called official ethereum wallet that is built by the same group of folks that are moving and contributing to the Ethereum Ecosystem. It is a desktop client like Parity and it has Shapeshift built-in which enables you to exchange your token right from the wallet. It supports all ERC20 tokens and provides a multisignature wallet option as well. It is by no means a lightweight client by the way as it requires you to synchroizes will all Ethereum nodes during your setup initially. Aside from that, Mist is a very powerful and convenient ERC20 token compatible wallet solution that is definitely worth considering.
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