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 ERC 20 Wallets Ranked
Here’s a list of the best ERC20 wallets for 2024
- Best Wallet – Best ERC-20 wallet with a proprietary DEX.
- Exodus – High-security ERC 20 wallet offering a built-in exchange.
- Zengo – Highly-rated ERC-20 wallet with WalletConnect and a dApp marketplace.
- ELLIPAL Titan Cold Wallet – Secure ERC20 cold wallet with air-gapped and self-destruct technology.
- Ledger Nano X – Premium hardware wallet with Bluetooth and native staking.
- Binance – Custodial ERC20 wallet offering competitive APYs for ERC20 tokens.
- Bybit wallet – Popular ERC-20 wallet with high security that offers staking.
- Trezor – Hardware wallet with cold storage and custom token addition.
- SafePal S1 – Affordable hardware wallet with air-gapped signing and QR code scanning.
- SecuX V20 –Cold ERC-20 wallet with Bluetooth and alerts for scam accounts.
- CoolWallet Pro –Credit card-sized wallet with a long-lasting battery and EAL6+ secure element.
The Best ERC20 Wallets Reviewed
Our wallet review process focused on key criteria, including:
- Security features: Encryption methods, two-factor authentication, and multi-signature support.
- Compatibility: Range of supported cryptocurrencies and blockchain networks.
- Private key control: Whether users have full custody of their keys.
- Backup options: Seed phrase generation and recovery methods.
- Fees: Transaction costs and any additional charges.
- User interface: Ease of use and navigation for both beginners and experienced users.
We evaluated each ERC20 wallet based on these factors to provide a comprehensive assessment.
1. Best Wallet – Best ERC-20 Wallet With a Proprietary DEX
- Supported Cryptos: All ERC20 tokens, plus thousands of others via DEX
- Fees for Buying ERC20 Tokens: Determined by third-party provider
- Mobile App: Yes
- Staking/Interest: Yes, in-built staking tool and staking of native token $BEST
- Staking/Interest Rate: TBC
Best Wallet is a new, multi-chain wallet supporting all ERC20 tokens and major cryptocurrencies like Bitcoin, Litecoin, and Solana. It features a built-in decentralized exchange, custom token addition, and is available on Android and iOS. As a top non-custodial wallet, it ensures user privacy by encrypting private keys locally. Security measures include biometric authentication, two-factor authentication, and passcode protection. Best Wallet combines comprehensive ERC20 support with additional innovative features, making it a versatile choice for crypto storage and management.
The wallet offers in-app staking for ERC20 tokens and dApp connectivity for NFT trading and liquidity pool participation. Its native $BEST token, though not yet launched, will provide benefits like zero GAS fees on transfers and early access to presales. Best Wallet plans to reward active users with a significant airdrop and offers insights on new crypto trends. While some features are still in development, the platform aims to create a comprehensive ecosystem for ERC20 token management and broader crypto activities.
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2. Exodus – High-Security ERC 20 Wallet Offering a Built-in Exchange
- Supported Cryptos: Over 1000s cryptocurrencies, including many ERC20 tokens
- Fees for Buying ERC20 Tokens: Determined by third-party provider
- Mobile App: Yes
- Staking/Interest: Yes
- Staking/Interest Rate: Varies
Exodus is a user-friendly, non-custodial wallet with strong ERC-20 token support. It offers compatibility with popular Ethereum-based assets and features an intuitive interface with a built-in exchange. Users can easily manage and swap multiple ERC-20 tokens within the app, making Exodus an efficient choice for those focused on Ethereum ecosystem assets.
Additionally, Exodus appeals to privacy-conscious users, as it does not require KYC checks for transactions, including those involving ERC-20 tokens. This focus on privacy and ease of use, alongside comprehensive token support, enhances its appeal for both new and experienced crypto enthusiasts. While the built-in exchange charges a small fee for swaps, the convenience of handling ERC-20 tokens directly in the app without needing to go through a third-party platform outweighs this cost for many users.
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3. Zengo – Highly-Rated Erc-20 Wallet With WalletConnect and a dApp Marketplace
- Supported Cryptos: 120+ cryptocurrencies, including many of the most popular ERC20 tokens
- Fees for Buying ERC20 Tokens: 0%-4.5%
- Mobile App: Yes
- Staking/Interest: Yes – on dApps through the marketplace. (Coming soon in-app)
- Staking/Interest Rate: Varies by coin and platform
The ZenGo mobile app wallet is a user-friendly ERC20 wallet that offers strong support for ERC-20 tokens, making it a compelling choice for those active in the Ethereum ecosystem. The wallet’s compatibility with a wide range of ERC-20 tokens, including major assets like USDT, DAI, and others, allows users to easily manage their diverse portfolios in one place. ZenGo simplifies the process of holding, sending, and receiving ERC-20 tokens with its easy-to-navigate interface, ensuring even those new to crypto can handle their assets without confusion.
Beyond its ERC-20 compatibility, ZenGo prioritizes security with a unique keyless wallet system that eliminates private keys, reducing the risk of loss or theft. Instead, it uses facial biometrics and multi-party computation (MPC) cryptography to secure user funds. While this innovative approach enhances security, it also adds convenience to managing ERC-20 tokens without the fear of losing access to private keys.
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4. ELLIPAL Titan Cold Wallet – Air-Gapped Hardware Wallet With Full Metal Cover and Auto-Self Destruct Feature
- Supported Cryptos: Over 10,000 cryptocurrencies, including many ERC20 tokens
- Fees for Buying ERC20 Tokens: N/A
- Mobile App: Offline storage
- Staking/Interest: No
- Staking/Interest Rate: N/A
ELLIPAL Titan Cold Wallet is a robust cold ERC-20 wallet that excels in supporting ERC-20 tokens, making it an ideal choice for users deeply involved in the Ethereum ecosystem. With its fully air-gapped design, the wallet ensures that your ERC-20 tokens remain secure from online threats, as it never connects to the internet, Bluetooth, or USB. Managing a diverse range of ERC-20 tokens is straightforward with the Titan 2.0, as it supports a wide variety of tokens, allowing users to store, send, and receive these assets securely.
In addition to its strong security features, the Ellipal Titan 2.0 offers an intuitive interface that simplifies the process of handling ERC-20 tokens. The wallet’s large touchscreen and user-friendly software make it easy to navigate through your token holdings and perform transactions without hassle. 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.
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5. Ledger Nano X – Premium Hardware Wallet with Bluetooth and Native Staking
- Supported Cryptos: Over 5,500 cryptocurrencies, including many ERC20 tokens
- Fees for Buying ERC20 Tokens: Depends on the third-party service
- Mobile App: Yes
- Staking/Interest: Yes – in-built staking tool for Cardano, Ethereum, and Solana
- Staking/Interest Rate: Depends on the blockchain
Ledger Nano X is another popular cold ERC20 wallet that is compatible with over 5,500 cryptocurrencies, including a wide range of ERC-20 tokens, such as USDC, LINK, and UNI. With its Bluetooth functionality and integration with the Ledger Live app, users can easily manage and track their ERC-20 tokens on the go.
The wallet emphasizes security, using a secure element chip to keep private keys offline and protected from hacks. Its ability to handle multiple ERC-20 tokens simultaneously, coupled with regular firmware updates and a user-friendly interface, ensures that your assets are not only safe but also easy to access and manage.
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6. Binance – Custodial ERC20 Wallet Offering Competitive APYs for ERC20 Tokens
- Supported Cryptos: 350 cryptocurrencies across multiple blockchain networks, including Ethereum, Bitcoin, Solana, Arbitrum, Polygon, and BNB
- Fees for Buying ERC20 Tokens: 0.1% commission per slide for trading (Fiat payment fees vary depending on the currency, deposit methods, and country of residence)
- Mobile App: Yes
- Staking/Interest: Yes – supports an in-built staking tool. Also supports savings accounts, yield farming, and dual investments
- Staking/Interest Rate: Fluctuates daily
Binance, while a custodial wallet with less user control, offers one of the best ERC20 wallets for active traders. Despite not providing access to private keys and requiring approval for outgoing transactions, it boasts a user base of 210 million. Binance implements strong security measures like cold storage, two-factor authentication, and whitelisted addresses. The free web wallet provides direct access to Binance’s expansive crypto ecosystem, making it a convenient choice for frequent traders despite the trade-off in personal key control.
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 18.9%. Binance also offers staking tools, dual investments, and yield farming. These tools offer additional opportunities to generate income on ERC20 token holdings.
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7. Bybit Wallet – Popular ERC-20 Wallet With High Security That Offers Staking
- Supported Cryptos: 10K+ on 20+ chains
- Fees for Buying ERC20 Tokens: Varies
- Mobile App: Yes
- Staking/Interest: Yes
- Staking/Interest Rate: Varies
Bybit Wallet is a versatile, user-friendly solution for managing ERC20 tokens and other cryptocurrencies across multiple chains. It offers robust security features, including two-factor authentication and hardware wallet support. The wallet’s multi-chain capability allows for easy portfolio diversification and ecosystem engagement, while its staking options provide additional utility. This combination of security, flexibility, and functionality makes Bybit Wallet a strong choice for both novice and experienced crypto users.
The wallet enhances security by locally encrypting and storing private keys on the user’s device. Its intuitive interface caters to all user levels, offering comprehensive asset tracking and transaction history. The wallet also features multi-crypto staking options, enabling users to earn passive income through a simplified process. This combination of security, user-friendliness, and earning potential makes Bybit Wallet an attractive option for managing and growing crypto assets.
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8. Trezor – The Most Secure Way to Store ERC20 Tokens
- Supported Cryptos: All ERC20 tokens, plus other blockchain networks. This includes Bitcoin, XRP, Litecoin, and Cardano.
- Fees for Buying ERC20 Tokens: Fiat payments are handled by Invity, which uses selected processors. Expect to pay between 3-5%.
- Mobile App: Yes
- Staking/Interest: Yes, but only on the Model T
- Staking/Interest Rate: N/A
Trezor offers secure cold storage solutions for ERC20 tokens, making it ideal for long-term investors with high-value portfolios. Its hardware wallets keep private keys offline, enhancing security. Users can add custom ERC20 tokens via the Trezor Suite dashboard, available on both desktop and mobile. The wallet requires PIN entry for transactions and offers two models: the budget-friendly Model One at $59 and the more advanced Model T, both supporting the same range of assets and ERC20 token compatibility.
The Model T, while pricier, provides additional security features like the Shamir Backup for seed phrase recovery. Both versions come with a companion app for mobile, desktop, and browser, facilitating easy management of ERC20 tokens. Trezor’s open-source software adds an extra layer of transparency and security, making it a trusted choice for ERC20 token storage and transactions.
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9. SafePal S1 – Affordable Hardware Wallet With Air-Gapped Signing and Qr Code Scanning
- Supported Cryptos: Over 100 blockchains supported, including ERC20 tokens
- Fees for Buying ERC20 Tokens: N/A
- Mobile App: Yes
- Staking/Interest: Staking available via the SafePal app
- Staking/Interest Rate: Depends on the cryptocurrency
SafePal 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 self-destruct anti-tampering technology.
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.
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10. SecuX V20 – Popular ERC20 Wallet With Color Touchscreen and Bluetooth Connection
- Supported Cryptos: Over 100 blockchains supported, including ERC20 tokens
- Fees for Buying ERC20 Tokens: N/A
- Mobile App: Yes
- Staking/Interest: Staking available via the SafePal app
- Staking/Interest Rate: Depends on the cryptocurrency
SecuX 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.
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.
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11. CoolWallet Pro – A Credit Card-Sized Cold Wallet With Long-Lasting Battery and Integrated Coin Staking
- Supported Cryptos: Over 12,000 cryptocurrencies supported, including ERC20 tokens
- Fees for Buying ERC20 Tokens: Depends on third-party services
- Mobile App: Yes
- Staking/Interest: Staking available for some coins
- Staking/Interest Rate: Depends on the cryptocurrency
Looking 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 packs a punch. You get a Bluetooth connection to sign transactions, support for dApps like decentralized exchanges and NFT marketplaces, and direct staking features for some coins.
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.
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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 enable storage and management of Ethereum-based tokens, often supporting major tokens by default and allowing custom token addition via contract addresses. These wallets facilitate sending and receiving tokens, requiring ETH for gas fees.
Available in various forms (hardware, mobile, desktop, browser extensions), they may offer features like staking, savings accounts, and token swapping. Some wallets provide non-custodial storage with user-controlled private keys, while others are custodial. The best ERC20 wallets combine security, flexibility, and additional features to enhance the user’s token management experience.
How do ERC20 Wallets Work?
ERC20 wallets enable users to manage all Ethereum-based tokens using a single Ethereum address. For instance, a MetaMask wallet with the address 0x71C7656EC7ab88b098defB751B7401B5f6d8976F can store various tokens like USD Coin, Aave, Tether, and Shiba Inu. This simplifies token management within one interface. However, users should ensure their chosen wallet supports custom token addition to accommodate all ERC20 tokens beyond pre-loaded options.
ERC20 wallets use a unique Ethereum address and a private key for access. Non-custodial wallets like Best Wallet, MetaMask, Exodus, and Trust Wallet provide users with their private keys, typically as a 12-word passphrase, giving full control but also full responsibility for security. Custodial wallets like Binance, on the other hand, manage private keys for users, offering protection against key loss but reducing user control.
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:
ERC20 wallets are available in various formats: mobile apps (like Best Wallet and Trust Wallet), desktop software (such as Exodus for Windows and Mac), browser extensions (MetaMask for Chrome, Edge, Firefox, and Brave), and web-based interfaces. Mobile wallets often use PIN or biometric security, while desktop versions typically require passwords. This diversity in wallet types allows users to choose the most convenient and secure option for their ERC20 token management needs.
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 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.
Benefits of Using an ERC20 Wallet
ERC20 token investors need a suitable wallet for various reasons, not only to store, send, and receive ERC20 tokens but also to access other features, such as decentralized exchanges, staking, and swapping. Here are some benefits of an ERC20 wallet:
- Unified Token Management: ERC20 wallets allow users to store and manage multiple Ethereum-based tokens in one place, simplifying portfolio tracking and transactions.
- Interoperability: These wallets enable seamless interaction with various Ethereum-based decentralized applications (dApps), enhancing the user’s ability to participate in the broader Ethereum ecosystem.
- Enhanced Security: Many ERC20 wallets offer non-custodial storage, giving users full control over their private keys and thus their funds, reducing reliance on third parties.
- Built-in Exchange Features: Some ERC20 wallets include integrated token swap functionalities, allowing users to trade tokens without leaving the wallet interface.
- Access to DeFi: ERC20 wallets often provide direct access to decentralized finance (DeFi) protocols, enabling users to participate in activities like lending, borrowing, and yield farming with their tokens.
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 We Ranked the Best ERC20 Wallets
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.
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 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.
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.
Conclusion
The market offers a variety of ERC-20 wallets to suit different needs, from secure hardware options like Trezor to user-friendly software wallets like Exodus and MetaMask. Custodial wallets like Binance are ideal for active traders, while non-custodial wallets provide control over private keys. The best choice depends on balancing security, ease of use, features, and token compatibility.
Best Wallet is our top pick for managing ERC-20 tokens, thanks to its strong security, user-friendly interface, and wide token support. It offers features like custom token addition, a built-in decentralized exchange, and planned updates for staking and DApp connectivity. Its native token and rewards system further enhance its appeal, making it a promising choice for both new and experienced users.
FAQs
Which wallet is best for ERC-20?
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References
- MetaMask Official Website (MetaMask)
- Top Cryptocurrency Decentralized Exchanges (CoinMarketCap)
- ERC-20 Token Standard (Use Ethereum)
- Top Play To Earn Tokens by Market Capitalization (CoinMarketCap)
- Fiat onramp that removes the barriers (Wert)
- General FAQ (Wert)
- The KYC process explained (Swift)
- What fees do you charge for card payments? (Simplex)
- Compare Trezor Hardware Wallets (Trezor)
- Looking Back at Binance’s 2022: End-of-Year Report (Binance)
- What fees does Ramp charge for buying and selling crypto? (Ramp)
Kane Pepi
EditorKane 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…
