There are a large number of digital currencies present in today’s cryptocurrency market. But only a small part of them work in accordance with the universal standard.
Therefore, having understood what ERC-20 is, traders may wonder what is the difference between it and other tokens?
The key difference is that all “standardized” coins are tied to the Ethereum network. In addition, this cryptocurrency uses a specific address format, and they are sent through Ethereum operations, because they all have a generalized code.
It should be noted that all ERC20 development coins cannot be considered fully independent, because they are based on one blockchain, and the tokens rely on its power in the process of their work.
Cryptocurrencies have the following features:
- they can be mined;
- do not become bonus offers;
- Every miner can become an issuer.
ERC20 tokens:
- become bonuses for goods;
- do not have a separate blockchain;
- manage smart contracts;
- the issuers are the developers.
TOP wallets suitable for working with ERC20
This list is worth a closer look for those looking for a suitable ERC-20 wallet. This includes the most popular cryptocurrency wallets in this segment.
The modern world of digital finance offers many electronic wallets for storing virtual funds. The material offers several of the most convenient digital wallets suitable for working with ERC-20 standard coins:
- Atomic wallet;
- Metamask;
- MyEtherWallet;
- Trezor;
- Trust Wallet.
Let’s examine each of them in more detail.
Atomic wallet
It is a cross-platform decentralized wallet that can support about 300 currencies. A special advantage is the built-in instant exchanger with the possibility of receiving cashback. There are versions for both mobile and computer devices. Technical support responds quickly to requests. Interestingly, the wallet has its own coin of the same name — Atomic Wallet Token; staking it brings additional profit to the owner.
Metamask
A cryptocurrency wallet that provides access to all DeFi applications (such as trading or NFT platforms). A connection to any dApps is established in a matter of seconds. Experts advise installing the browser version, because the mobile version still has too many shortcomings. The default network is Ethereum, but there are several others available to choose from, switching between them is instant. The ERC20 Metamask wallet is localized in Russian.
MyEtherWallet
The browser wallet is designed specifically for coins based on the Ethereum blockchain. It is in demand due to the absence of mandatory installation and simple operation.
This is an excellent choice for new traders who are afraid of making a mistake by getting confused in a complex interface. The wallet supports NFTs, decentralized applications and stablecoins. The private key is not sent to the ERC20 token development network but is stored on the client device. There is compatibility with hardware wallets such as Ledger and Trezor.
Trezor
A hardware wallet designed for cold storage of funds. This means that there is no need to keep it constantly connected to the device. Until it is connected, attackers will not be able to get to the cryptocurrency.
It is possible to carry out secure transactions even if the computer device is infected with a virus. Supports about 1.5 thousand coins and is also compatible with many hot wallets.
Trust Wallet
Wallet for mobile devices with official support for the Binance cryptocurrency exchange , integration with the Binance DEX platform is available. The virtual wallet supports cooperation with DeFi applications and staking of certain cryptocurrencies.
It has its own browser for working with decentralized applications. In this case, all keys are stored on the user’s device. As in the case of Atomic wallet, the wallet can offer the client a native token of the same name.
visit : https://www.blockchainx.tech/erc20-token-development/