11 Best ERC20 Wallets for 2024 – The Complete List

While there are thousands of ERC20 tokens in the market, they can also be stored on the same Ethereum blockchain address.

This means that investors have dozens of ERC20 wallets to choose from. But which is best?

In this guide, we review the best ERC20 wallets for security, features, custodianship, user-friendliness, supported device types, and much more.

The Top ERC20 Wallets Ranked

Here’s a list of the best ERC20 wallets for 2024

  1. Best Wallet – Best ERC-20 wallet supporting all top tokens with a proprietary DEX.
  2. Zengo – Highly-rated mobile app wallet for ERC20 tokens with WalletConnect and a dApp marketplace.
  3. ELLIPAL Titan Cold WalletSecure ERC20 cold wallet with full metal cover, air-gapped, and self-destruct technology.
  4. Ledger Nano X – Premium hardware wallet with Bluetooth, native staking, and support for over 5,500 tokens.
  5. Binance – Custodial wallet offering security tools, competitive APYs, and staking pools for ERC20 tokens.
  6. Bybit wallet – Popular ERC-20 wallet with high security that offers staking.
  7. Trezor – Safe hardware wallet supporting all ERC20 tokens, with cold storage and custom token addition.
  8. SafePal S1Affordable hardware wallet with air-gapped signing, QR code scanning, and support for 10,000+ coins.
  9. SecuX V20Cold wallet with color touchscreen, Bluetooth, and alerts for scam accounts.
  10. CoolWallet ProCredit card-sized hardware wallet with a long-lasting battery and support for ERC20 tokens.
  11. MetaMask – Popular non-custodial wallet with 30 million users, supporting all ERC20 tokens and token-swapping.

Best ERC20 Wallets Reviewed

We will now review the overall best ERC20 wallets for 2024.

Understanding that no two investors are the same, we cover a wide variety of options. This includes both custodial and non-custodial wallets for smartphones, desktops, browsers, hardware, and more.

1. Best Wallet – Overall Best ERC20 Wallet for 2024  

Best Wallet reviewBest Wallet is a newly launched wallet that is building a decentralized ecosystem for its users. It will support all ERC20 cryptocurrencies, with users having the option of adding custom tokens via the contract address. This is in addition to Bitcoin, Litecoin, XRP, BNB, Dogecoin, Solana, and other leading cryptocurrencies via a built-in decentralized exchange.

This makes Best Wallet ideal for storing cryptocurrencies on multiple blockchain standards. Best Wallet has just launched as a mobile app on Android and iOS, with those looking for the best non-custodial wallets will appreciate that Best Wallet does not store private keys.

Best Wallet home img

Private keys will be encrypted on the user’s desktop or mobile device. What’s more, Best Wallet will come with biometric security features, the wallet will also be protected by two-factor authentication and a four-digit passcode – not only is Best Wallet a great option for storing ERC20 tokens, but it comes packed with other innovative features.

For example, Best Wallet will allow investors to stake their ERC20 tokens without leaving the app. Users will also be able to connect to their preferred dApps to earn additional income.

For example, trading NFTs on OpenSea or depositing tokens into a liquidity pool, allowing for thousands of tokens to be traded. Users will also have the option of buying cryptocurrencies with fiat money, which will be provided by WERT – a regulated third-party broker licensed in the US and the EU.

One of the platform’s main features is its native token $BEST, which has not yet launched but will offer various perks to those holding it within the Best Wallet ecosystem.

Best Wallet roadmap

This includes zero GAS fees on outgoing transfers, voting rights, and early access to the best crypto presales that are yet to launch to the public. Best Wallet will also offer holders unique insights into new and trending cryptos, airdrops and NFT collections.

Although tokens and several features on the platform are not yet live, Best Wallet users will be rewarded for downloading the wallet, swapping tokens, making transfers, and other everyday tasks, with a  huge airdrop – 10% of the max supply – being distributed to active users in the near future.

Type of Wallet Supported Cryptos Fees for Buying ERC20 Tokens Mobile App? Staking/Interest? Staking/Interest Rate
Non-custodial software wallet All ERC20 tokens, plus thousands of others via DEX Determined by third-party provider, Wert Yes Yes, in-built staking tool and staking of native token $BEST TBC

Pros pros

  • Overall best ERC20 wallet
  • Supports all ERC20 tokens plus Bitcoin, BNB, XRP, and other networks through built-in DEX
  • Non-custodial, decentralized storage – users control their private keys
  • Other features make it more than a wallet
  • $BEST token benefits + airdrop

Cons cons

  • Full functionality is not expected until Q2 2024

2. Zengo -Most Secure Mobile-App Wallet for ERC20 Tokens

Zengo logo

The Zengo mobile app wallet has been active since 2018 and hasserved over 1 million customers. In that time Zengo has never had a single report of a hack, and a rating of 4.2 on Trustpilot, with reviews from over 600 customers.

A dApp marketplace, with integrated WalletConnect support, allows users to seamlessly trade and use their ERC20 tokens on a wide variety of dApps, providing one of the richest mobile-app crypto wallet experiences out there. Users can also buy and sell ERC20 tokens directly in-app, along with multiple other cryptocurrencies, as Zengo offers support for many of the top blockchains—supporting over 120 cryptocurrencies in total.

Zengo customer support

The Zengo self-custody wallet addresses one of the main barriers to entry for crypto, the seed phrase, by removing it entirely. Instead, Zengo uses multi-party computation (MPC) cryptography to secure wallets. This uses 3-factor authentication—a 3D face scan, a recovery file, and an email address—to recover your wallet on a new device.

If that wasn’t enough features, users can also subscribe to a Pro version for $69.99 per year. This gives them a Legacy Transfer service, Web3 Firewall, Theft Protection, and Priority Support.

Type of Wallet Supported Cryptos Fees for Buying ERC20 Tokens Mobile App? Staking/Interest? Staking/Interest Rate
Mobile App 120+ cryptocurrencies, including many of the most popular ERC20 tokens 0%-4.5% Yes Yes – on dApps through the marketplace. (Coming soon in-app) Varies by coin and platform.

Pros pros

  • dApp Marketplace with WalletConnect
  • Support for the top ERC20 tokens
  • Over 1 million customers, no reported hacks
  • Also supports other blockchains and NFTs
  • No seed phrase (uses 3-factor authentication)
  • A Pro version is available with extra security features

Cons cons

  • Does not support most Ethereum Layer 2s
  • Quite high fees for buying cryptocurrencies with a credit card

3. ELLIPAL Titan Cold Wallet – Air-Gapped Hardware Wallet With Full Metal Cover and Auto-Self Destruct Feature    

Ellipal logoELLIPAL Titan Cold Wallet is a popular ERC 20 hardware wallet that is designed with full security in mind.

This means you get a wallet that is fully metal-sealed to protect it from physical damage; it’s fully air-gapped, meaning there’s no outside connection like Wi-Fi or Bluetooth to be potentially exploited; it uses anti-disassembly and anti-tamper technology that self-destructs if it detects tampering.

Ellipal Titan Cold Wallet

To update the firmware, you use a micro SD to update it offline. To add to its security, you can activate two-factor authentication, a password or a PIN to unlock your device.

All this makes ELLIPAL Titan Cold Wallet an excellent place to store your ERC20 tokens, not to actively trade them or to connect to various dApps.

Type of Wallet Supported Cryptos Fees for Buying ERC20 Tokens Mobile App? Staking/Interest? Staking/Interest Rate
Hardware wallet.

Non-custodial storage

Over 10,000 cryptocurrencies, including many ERC20 tokens. Not available Ellipal offers a mobile app, but ELLIPAL Titan Cold Wallet is offline storage. No Not available

Pros pros

  • Air-gapped, fully metal-sealed with anti-tamper technology
  • Non-custodial wallet, you hold the keys to your assets
  • Over 10,000 cryptocurrencies supported, including ERC20 tokens
  • Excellent hardware wallet for cold storage

Cons cons

  • No Bluetooth connection
  • Not designed for actively trading or interacting with dApps

4. Ledger Nano X – Premium Ledger Wallet With Bluetooth Connection For Smartphones    

Ledger logoLedger Nano X is the premium hardware wallet from Ledger, which retails at around $149.

For the price, you get a Bluetooth connection for approving transactions on a mobile device, as well as industry-leading security and one of the best apps for managing your crypto portfolio.

Ledger Nano X hardware wallet

The Ledger Live app is one of the best hardware wallet companion apps you can get. It lets you monitor your crypto portfolio across various blockchains such as Ethereum, Solana, Cardano, Bitcoin and many more.

Buy ERC20 tokens or other cryptocurrencies directly from the app, or swap them for other coins and tokens. Some cryptocurrencies, like Ethereum, Solana and Cardano can be staked directly from the Ledger app.

Moreover, you get access to decentralized applications directly from the app, including 1inch exchange and Yearn yield aggregator. All this makes Ledger Nano X one of the best hardware wallets to stor eyour ERC20 tokens.

Type of Wallet Supported Cryptos Fees for Buying ERC20 Tokens Mobile App? Staking/Interest? Staking/Interest Rate
Hardware wallet and mobile app.

Non-custodial storage

Over 5,500 cryptocurrencies, including many ERC20 tokens. Depends on the third-party service. Yes Yes – in-built staking tool for Cardano, Ethereum, and Solana. Depends on the blockchain.

Pros pros

  • Industry-leading security and Bluetooth connection
  • Non-custodial wallet, you hold the keys to your assets
  • Over 5,500 cryptocurrencies supported, including ERC20 tokens
  • Allows users to store, trade, and stake cryptocurrencies directly from the Ledger Live app
  • Can purchase cryptocurrencies directly from the Ledger Live app

Cons cons

  • No open-source software
  • Seed phrase recovery (optional feature) requires ID verification

5. Binance – Web Wallet for Storing and Trading ERC20 Tokens      

While the least safe option on this list, Binance offers one of the best ERC20 wallets for active traders. This is a custodial wallet, so users do not have access to their private keys. What’s more, outgoing transactions must be approved by Binance before they are released to the blockchain.

That said, Binance is by far the largest and most popular crypto exchange in the market. Recent figures suggest more than 128 million people use Binance. Moreover, Binance has robust security features in place, including cold storage, two-factor authentication, and whitelisted wallet addresses. The Binance web wallet is free to use and offers direct access to its ever-growing crypto ecosystem.

Binance wallet review

This allows users to trade hundreds of ERC20 tokens at a 0.1% commission. Binance users can also earn interest on their ERC20 tokens. Currently, the popular ERC20 token Axie Infinity is offering an APY of 32%. Binance also offers staking tools, dual investments, and yield farming. These tools offer additional opportunities to generate income on ERC20 token holdings.

Type of Wallet Supported Cryptos Fees for Buying ERC20 Tokens Mobile App? Staking/Interest? Staking/Interest Rate
Mobile app

Custodial storage

350 cryptocurrencies across multiple blockchain networks, including Ethereum, Bitcoin, Solana, Arbitrum, Polygon, and BNB 0.1% commission per slide for trading.

Fiat payment fees vary depending on the currency, deposit methods, and country of residence.

Yes Yes – supports an in-built staking tool. Also supports savings accounts, yield farming, and dual investments. Currently up to 19.8% for staking and 32% for savings accounts (fluctuates daily).

Pros pros

  • Best ERC20 wallet for active crypto traders
  • Connects to the Binance exchange
  • High yields of up to 32% on savings accounts
  • Accounts are protected by two-factor authentication and whitelisting

Cons cons

  • Does not allow users to add custom ERC20 tokens
  • Withdrawals must be approved before being posted to the blockchain

6. Bybit Wallet – Popular ERC-20 Wallet With High Security That Offers Staking

Bybit Wallet is a popular crypto wallet that can store, send, and receive ERC 20 tokens. Equipped with a user-friendly interface and a strong security system, it is an ideal solution for storing and staking multiple cryptos.

The wallet supports multiple chains, allowing users to store and manage many tokens across blockchains. This flexibility makes it easy for users to diversify their portfolios and engage with different ecosystems.

The wallet security standards align with the best industry practices it has implemented measures such as two-factor authentication (2FA) and hardware wallet support to ensure the highest safety of user assets.

Bybit Wallet

The wallet encrypts and stores the private keys locally on the user’s device. This provides extra protection from hacking threats online.

The wallet has a user interface that is easy, efficient, and accessible to a user of any level. The user can track the performance and activity of any asset they own within the network. This includes an accurate transaction history that allows you to easily track their performance in the network.

Bybit Wallet offers staking for multiple crypto as well, thus allowing users to earn passive income on their crypto holdings. Staking is easy as the wallet follows a standardized set of steps that are easy to understand and comply with.

Type of Wallet Supported Cryptos Fees for Buying ERC20 Tokens Mobile App? Staking/Interest? Staking/Interest Rate
Software, Custodial 100+ Varies Yes Yes Varies, depending on the crypto.

Pros pros

  • Supports multiple cryptocurrencies.
  • User-friendly interface.
  • High-security measures.
  • Mobile app available.
  • Offers staking options.

Cons cons

  • Relatively less secure than hardware wallets.

7. Trezor – The Most Secure Way to Store ERC20 Tokens     

Trezor reviewLooking for the safest ERC20 wallet for long-term investors? If so, look no further than Trezor. This established hardware wallet provider offers cold storage solutions – so the private keys are never exposed to the internet. This allows users to keep their ERC20 token investments offline at all times.

This will appeal to ERC20 investors with a high-value portfolio. Sending ERC20 tokens to another location requires users to enter a PIN on the device. This can be any combination of up to 50 digits. We also like that Trezor allows users to manually add custom ERC20 tokens. This can be done via the Trezor Suite dashboard, available for desktops and smartphones.

Trezor review

In terms of pricing, Trezor offers two models. Those focused purely on long-term storage will find the Trezor Model One suitable. The Model One wallet retails for just $69 and comes with a micro USB connection, two-button pad for confirming transactions and standard back up. Everything else is the same with the Model T, including the number of assets you can store and the mobile app.

Trezor Model One

Those looking for extra features will need to buy the premium Model T, which retails for $219. This option also comes with support for USB type-C connections and a touchscreen pad for confirming transactions. One additional feature that the Model One lacks is the Shamir Backup.

The Shamir Backup is designed to help you recover your seed phrase should you lose it. The way it works is you create three unique shares where two of them is enough to recover your wallet, meaning if you lose one, you will still be able to access your assets.

This safety feature alone could be enough to go for the Model T instead of the Model One.

Trezor Model T

Regardless of which of the two Trezor wallets you choose, both have access to a companion app for mobile, desktop and browser. This allows you to send, receive and trade over 8,000 various cryptocurrencies including ERC20 tokens.

Moreover, Trezor is one of the rare hardware wallets that has open-source software. This means anyone can check the code and verify that it does what’s intended.

Type of Wallet Supported Cryptos Fees for Buying ERC20 Tokens Mobile App? Staking/Interest? Staking/Interest Rate
Hardware wallet

Non-custodial storage

All ERC20 tokens, plus other blockchain networks. This includes Bitcoin, XRP, Litecoin, and Cardano. Fiat payments are handled by Invity, which uses selected processors. Expect to pay between 3-5%. Yes Yes, but only on the Model T ($219) Not published.

Pros pros

  • Best ERC20 for long-term investors with a large portfolio value
  • Over 8,000 cryptocurrencies supported
  • Keeps private keys offline at all times
  • Transactions can only be authorized via the user’s PIN
  • Prices start from just $69

Cons cons

  • Staking is only supported on the Model T – which costs $219
  • Is not transparent on what fiat payment fees it charges

8. SafePal S1 – Most-Affordable Hardware Wallet With QR Code Scanning Camera and Over 10,000 Cryptocurrencies Supported For $49.99    

SafePal logoSafePal S1 is the most-affordable hardware wallet that you can grab for $49.99. But don’t let this fool you, this is a fully-fledged hardware wallet designed to keep your ERC20 tokens safe.

The SafePal S1 is air-gapped, meaning there’s no Wi-Fi or Bluetooth connection to be potentially exploited, and it has a self-destruct anti tampering technology.

SafePal S1 wallet

Because it’s air-gapped, you sign your transactions via QR scanning with its integrated camera. Moreover, it has its own battery, meaning you can use it without connecting to a computer.

Overall, if you’re looking for an affordable hardware wallet to store your ERC20 tokens, look no further, SafePal S1 is more than enough to handle the job.

Type of Wallet Supported Cryptos Fees for Buying ERC20 Tokens Mobile App? Staking/Interest? Staking/Interest Rate
Hardware wallet.

Non-custodial storage

Over 100 blockchains supported, including ERC20 tokens. Not available Yes Staking available via the SafePal app Depends on the cryptocurrency

Pros pros

  • Air-gapped with anti-tamper technology
  • Non-custodial wallet, you hold the keys to your assets
  • Affordable price
  • QR code scanning camera

Cons cons

  • No Bluetooth connection to interact with a mobile app

9. SecuX V20 – Popular ERC20 Hardware Wallet With Color Touchscreen and Bluetooth Connection  

Secux logoSecuX V20 is a popular cold wallet that offers most of the same features as competitors.

This means you get a Bluetooth connection to sign transactions, you can store your ERC20 tokens and over 10,000 other cryptocurrencies and NFTs, there’s a PIN unlock feature and mobile app for tracking and managing your portfolio.

Secux V20 cold wallet

One of its premium features is a color touchscreen where you can see your assets without checking your phone or mobile app. The app, however, is an excellent addition that lets you connect to hundreds of dApps, send and receive crypto and more.

If you’re looking with a hardware wallet with a premium look and feel, SecuX V20 is worth considering.

Type of Wallet Supported Cryptos Fees for Buying ERC20 Tokens Mobile App? Staking/Interest? Staking/Interest Rate
Hardware wallet.

Non-custodial storage

Over 100 blockchains supported, including ERC20 tokens. Not available Yes Staking available for some coins Depends on the cryptocurrency

Pros pros

  • LCD touchscreen to monitor your balance
  • Non-custodial wallet, you hold the keys to your assets
  • Over 10,000 cryptocurrencies supported including ERC20 tokens
  • Bluetooth connection

Cons cons

  • SecuX app could be hard to use

10. CoolWallet Pro – A Credit Card-Sized Cold Wallet With Long-Lasting Battery and Integrated Coin Staking 

CoolWallet logoLooking for a sleek, credit card-sized cold storage for your ERC20 tokens? Consider CoolWallet Pro.

Even though this is a relatively small hardware wallet, it pucks a punch. You get Bluetooth connection to sign transactions, support for dApps like decentralized exchanges and NFT marketplaces and direct staking features for some coins.

CoolWallet Pro cold wallet

Another cool feature is the battery. Some hardware wallets can only operate while being connected to your computer. But CoolWallet Pro can operate once charged for up to two weeks, making it a solid traveling companion when you don’t have access to a computer.

With the CoolWallet app, you can create a hot burner wallet and seamlessly swap between your cold and hot wallets. All this makes CoolWallet Pro an excellent pocket hardware wallet to keep your ERC20 tokens safe.

Type of Wallet Supported Cryptos Fees for Buying ERC20 Tokens Mobile App? Staking/Interest? Staking/Interest Rate
Hardware wallet.

Non-custodial storage

Over 12,000 cryptocurrencies supported, including ERC20 tokens. Depends on third-party services Yes Staking available for some coins Depends on the cryptocurrency

Pros pros

  • Sleek design that fits in your pocket
  • Non-custodial wallet, you hold the keys to your assets
  • Over 12,000 cryptocurrencies supported including ERC20 tokens
  • Bluetooth connection

Cons cons

  • Companion app is only for mobile and not for desktop

11.  MetaMask – Decentralized ERC20 Wallet for Smartphones and Web Browsers    

Metamask review MetaMask is one of the most popular crypto wallets for storing ERC20 tokens. There are no fees to use MetaMask, and it comes as a mobile app (iOS and Android) and a browser extension (Chrome, Firefox, Edge, Brave). MetaMask is decentralized, so users are provided with their private keys when setting the wallet up.

The private keys are displayed as a 12-word passphrase and are not accessible by MetaMask. After going through the set-up process, users can find their Ethereum wallet address on the main interface. This wallet address is unique to the user and supports all ERC20 tokens. For smaller-cap projects, users can manually add the ERC20 contract address to MetaMask.

Metamask review

MetaMask also supports other blockchain networks, including Binance Smart Chain, Arbitrum, and Polygon. We also like that MetaMask is one of the best hot wallets for connecting to dApps. This can be done directly in the MetaMask app or by connecting to the dApps desktop website via the browser extension. While MetaMask supports ERC20 tokens and a selection of other networks, it isn’t compatible with Bitcoin.

Here’s our full MetaMask review.

Type of Wallet Supported Cryptos Fees for Buying ERC20 Tokens Mobile App? Staking/Interest? Staking/Interest Rate
Browser extension and mobile app.

Non-custodial storage

All ERC tokens.

Plus, all tokens on the following networks: Arbitrum, Optimism, Binance Smart Chain, Polygon, and Avalanche

Determined by third-party processors, but averages 3-5% Yes Yes – but only supports Ethereum Currently up to 3.89% (fluctuates daily)

Pros pros

  • Popular non-custodial wallet for smartphones and web browsers
  • Trusted by over 30 million people
  • No fees to store or receive cryptocurrencies
  • Supports all ERC20 tokens

Cons cons

  • Does not support Bitcoin, Cardano, Solana, and other large-cap cryptocurrencies
  • Fiat payment fees average 3-5%
  • In-built staking tool only supports Ethereum

What is an ERC20 Wallet? The Basics Explained

ERC20 tokens operate on the Ethereum blockchain. This means that ERC20 tokens can usually be stored in any crypto wallet that supports the Ethereum network.

ERC20 wallets allow users to store tokens that operate on the Ethereum network. Most ERC20 wallets come pre-loaded with support for large-cap tokens, such as Tether, Shiba Inu, Aave, USD Coin, and Uniswap. That said, the best ERC20 wallets allow users to add custom tokens. This means that any ERC20 token can be added – simply by providing the project’s contract address.

In addition to storage, ERC20 wallets also allow users to send and receive tokens. Just remember – ERC20 transaction fees require GAS fees – which must be paid in ETH. As such, the user will need a small quantity of ETH in their ERC20 wallet to process transfers. ERC20 wallets come in various forms, from hardware devices and mobile apps to desktop software and browser extensions.

List of ERC20 tokens

Some investors will also consider paper wallets to store their ERC20 tokens offline. Software-based wallets usually come packed with additional features, such as staking and savings accounts. This enables users to earn income on their ERC20 investments. What’s more, the best ERC20 wallets allow users to swap tokens.

For instance, users can swap UNI for USDT or USDC for SHIB without leaving the wallet interface. Importantly, some ERC20 wallets offer non-custodial storage – meaning users control their private keys. While other wallets operate as full custodians, meaning the provider keeps the ERC20 tokens safe.

We explain all of these functions and considerations in more detail later in this guide.

Why You Need an ERC20 Wallet

ERC20 token investors need a suitable wallet for various reasons. Not only in terms of storing, sending, and receiving ERC20 tokens but to access other features – such as decentralized exchanges, staking, and swapping.

Read on to find out more about the necessities of an ERC20 wallet.

Store ERC20 Tokens 

ERC20 tokens must be stored in a wallet that supports the Ethereum network. Not only does this allow users to transact, but it provides a safe haven for ERC20 token investments.

Wallet security will vary depending on various factors, such as the device type and custodianship.

Send and Receive ERC20 Tokens 

To send and receive ERC20 tokens, a wallet is needed. All transactions go through the Ethereum network, so fees must be paid in ETH.

This is often something that beginners forget, so ensure that a small amount of ETH is available before setting up a transaction.

What’s more, all ERC20 tokens will use the same public address as provided by the wallet. For instance, whether it’s Ethereum, Tether, or Shiba Inu – investors will use the same address when receiving ERC20 tokens.

Stake ERC20 Tokens 

Many ERC20 projects allow users to stake their tokens. After all, ERC20 tokens now operate on the proof-of-stake consensus mechanism.

The best ERC20 wallets come with an in-built staking tool. This allows investors to generate passive rewards on their ERC20 tokens.

Trade ERC20 Tokens 

Many providers allow users to trade ERC20 tokens without leaving the wallet interface.

As such, there is no longer a requirement to:

  • Transfer the ERC20 tokens from a wallet to an exchange
  • Make the swap
  • And transfer the newly purchased ERC20 tokens back to the wallet

Instead, the above transaction can be completed in one click via an in-wallet staking tool.

Access ERC20 dApps 

The vast majority of leading dApps operate on the Ethereum blockchain. This includes everything from Uniswap and OpenSea to Aave, Yearn.finance, and SushiSwap.

The best ERC20 wallets allow users to connect these dApps at the click of a button. This opens up a world of possibilities – from decentralized trading and play-to-earn games to staking, yield farming, and savings accounts.

How we Ranked the Best ERC20 Wallets

  • The best ERC20 wallets offer an ideal balance between usability and security
  • Leading providers support all ERC20 projects, allowing users to add custom tokens via the contract address
  • Users should also look for other features when choosing the best wallet for ERC20 tokens, such as staking, yield farming, and swaps.

Now let’s explore what criteria we used when reviewing and ranking the best ERC20 wallets:

Custom ERC20 Tokens

At a minimum, we prefer wallets that allow users to add any ERC20 tokens. The process should be straightforward and only require the ERC20 contract address.

Custodianship

We covered a broad range of non-custodial and custodial wallets, allowing ERC20 token investors to choose who is responsible for keeping the funds safe.

Security Tools

The best ERC20 wallets offer adequate security tools, such as two-factor authentication, passwords, biometrics, and multi-sig permissions.

What is the Most Secure ERC20 Wallet?

The most secure way to store ERC20 tokens is in cold storage. Options include a hardware device like Trezor or a paper wallet. Either way, this keeps the ERC20 tokens offline at all times.

Non-ERC20 Networks

We also prefer ERC20 wallets that support other blockchain networks.

Best Wallet supported coins

For instance, those holding Bitcoin and other cryptocurrencies should be able to store their assets under one roof.

Device Type

Investors should also consider what device type they want to store their ERC20 wallets on. This can include a mobile app, browser extension, desktop software, and a hardware device.

Web 3.0 Features

The best ERC20 wallets support various Web 3.0 features. This includes everything from staking and yield farming to decentralized exchanges and loans.

Fees

While software wallets are free, users should explore what charges are implemented for non-primary features. For instance, swapping ERC20 tokens or buying cryptocurrencies with fiat money.

How do ERC20 Wallets Work?

ERC20 wallets allow users to store, send, and receive Ethereum-based tokens. There are thousands of ERC20 tokens in the market, and they can all be stored on the same Ethereum wallet address.

  • For example, suppose an investor creates a new MetaMask wallet.
  • They are presented with the following Ethereum wallet address: 0x71C7656EC7ab88b098defB751B7401B5f6d8976F
  • Whether it’s USD Coin, Aave, Tether, or Shiba Inu – all ERC20 tokens can be sent to the user’s unique Ethereum wallet address

This makes it simple to manage ERC20 tokens in the same wallet interface. That said, make sure the chosen wallet provider allows users to add custom ERC20 tokens. If it doesn’t, then users will only be able to deposit ERC20 tokens that come pre-loaded with the wallet.

In addition to a unique Ethereum address, ERC20 wallets come with a private key. This is the secret password for the wallet and allows anyone to access the funds. In other words, if somebody hacks the private keys, they can access the wallet and withdraw the ERC20 tokens.

Non-custodial wallets like Best Wallet, MetaMask, Exodus, and Trust Wallet provide users with their private keys. This is provided via a 12-word passphrase, and wallet users are the only ones to have access. Custodial wallets like Binance do not share private keys with their users. This protects the user from misplacing the private keys.

Types of ERC20 Wallets

ERC20 wallets come in various forms and are supported across most device types.

The main ERC20 wallet types are summarized below:

Software Wallets

Most ERC20 wallets are downloaded and installed as software. Mobile wallets, for instance, are offered by Best Wallet and Trust Wallet. Users can access their mobile wallets via a PIN or fingerprint  ID.

Another software-based option is a desktop wallet. Exodus is a good option here, which supports Windows and Mac. The Exodus desktop wallet is secured by a password. An increasing number of ERC20 wallets are now available as browser extensions. MetaMask supports Chrome, Edge, Firefox, and Brave.

Alternatively, some software wallets are accessible via standard websites.

Hardware Wallets

ERC20 tokens can also be stored in hardware wallets, keeping the funds and private keys away from the internet.

Trezor and Ledger and popular options here. Both allow users to add custom ERC20 tokens, so all Ethereum-based cryptocurrencies are supported.

Hardware wallets won’t be suitable for ERC20 token holders that actively trade.

Paper Wallets

Paper wallets also allow investors to keep their ERC20 tokens offline and away from live servers.

This option requires users to:

  • Create an ERC20 wallet address and private key. This can be done via a software wallet provider like MetaMask.
  • Transfer the ERC20 tokens to the generated address.
  • Print the wallet address and private keys.
  • Delete the software wallet from the device.
  • Keep the printed paper somewhere safe and private

Paper wallets perform a similar function to hardware wallets. But without additional features like staking, token swaps, and savings accounts.

Are ERC20 Wallets Safe? How to Pick a Secure ERC20 Wallet

Choosing an ERC20 wallet that is secure is paramount. However, each wallet type will come with varying levels of safety. This will depend on the custodianship of the wallet, and the device type. Security features will also be determined by the chosen provider.

For example, Trust Wallet, MetaMask, and Exodus are non-custodial wallets that are only secured by a password (browser extension) or PIN/fingerprint ID (mobile app). If this security feature is compromised and the bad actor has access to the device, they can enter the wallet and transfer the ERC20 tokens.

On Trezor and other hardware wallets, the main security feature is cold storage. This is because hardware wallets are never online, so the ERC20 tokens cannot be hacked remotely. Moreover, outgoing transfers must be confirmed on the hardware device.

Ultimately, users must first assess the type of ERC20 wallet they prefer before determining how safe it is. This is because safety will vary considerably from one wallet type to the next.

How to Get & Use an ERC20 Wallet

Here’s a walkthrough on how to set up an ERC20 wallet in just five minutes – using Best Wallet as an example.

Step 1: Download App

Best Wallet is available as a mobile app on Android or iOS and can be downloaded for free from the Play Store/App Store.

A desktop browser extension is also in development and will be released in the coming months.

best wallet app wide

Step 2: Create Account and Choose Security

Once downloaded, all that’s needed to create a Best Wallet account is an active email address – there is no KYC requirements as it is decentralized and non-custodial.

After entering an email, users will need to select how much security to add to their account. The minimum requirement is a four-digit passcode, but users can also choose to add two-factor authentication and/or finger print ID.

An account will now be live.

Step 3: Deposit or Buy a Supported ERC20 Token

Users will be redirected to the Best Wallet dashboard where they can purchase crypto tokens or trade them via a built-in DEX.

As mentioned above, some features are not yet functional at the time of writing.

best wallet homescreen

Conclusion

That concludes our comparison guide on the best ERC20 tokens. Overall, newly launched Best Wallet offers the perfect solution for storing and trading Ethereum-based tokens safely.

We like that Best Wallet is not only a non-custodial, decentralized wallet that is free and easy to use, but offers a number of features such as enhanced security, a built-in DEX  and insights into new and trending cryptos and NFTs, and reduced trading fees.

New users are able to earn $BEST tokens – which offer access to those features – by using Best Wallet, with an airdrop to be sent to active users in the near future.

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Kane Pepi
Editor

Kane Pepi is an accomplished financial and cryptocurrency writer who has an extensive portfolio of over 2,000 articles, guides, and market insights. With his expertise in specialized subjects such as asset valuation and analysis, portfolio management, and financial crime prevention, Kane has built a reputation for providing clear explanations of complex financial topics. He holds a Bachelor's Degree in Finance and a Master's Degree in Financial Crime, and is currently pursuing his Doctorate degree, which focuses on investigating the complexities of money laundering in the cryptocurrency and blockchain technology sectors. Kane's wealth of knowledge and experience in the field make…