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Author Topic: ERC20 tokens and the wallets that one needs?  (Read 96 times)
K.Mac
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August 10, 2018, 07:44:56 AM
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As with alot of new crypto coins jumping on to the bandwagon, most are in there pre-release phase that consist of tokens, mainly ERC20 value tokens, and with the ever increasing amounts of wallets and cold storage wallets on the market, what would be the best wallet to use for both tokens and valid altcoins, as I certainly don't need a wallet for every altcoin, is there a wallet out there that supports ERC20 token as well as altcoins. That would reduce this baggage?
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August 10, 2018, 07:54:32 AM
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Creating a multi coin wallet is a time consuming process so there is no one who does it for free. That's why we do have wallets such as Exodus, Coinomi, Jaxx etc but none of them are open source otherwise they wouldn't be able to make money from the build-in exchanges they have.

So If you are speaking about altcoins that are known and have a big userbase like LTC, DASH, Dogecoin + ERC20 Tokens etc. I would recommend going with a hardware wallet instead.

Awesomus Maximus
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August 10, 2018, 08:05:39 AM
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If we are talking about ERC20 tokens only, you can also use MyEtherWallet (MEW). It's an online wallet which supports these ERC-20 tokens. When it comes to ETH and the tokens that use the ETH blockchain, MEW is what majority of the users use these days. The security with MEW is awful, and you can read here on this forum of people losing their coins every day due to malware or other malicious attacks. I personally, have never found a better software solution. I tried to install the ETH wallet myself, but their blockchain is so bloated that it was a dreadful task. So, yes a hardware wallet would be the best recommendation if you can afford one. If you are gonna use MEW, make sure you have understood how to rune it safely (https://bitcointalk.org/index.php?topic=3461647.0). Good luck.
K.Mac
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August 10, 2018, 08:16:56 AM
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If we are talking about ERC20 tokens only, you can also use MyEtherWallet (MEW). It's an online wallet which supports these ERC-20 tokens. When it comes to ETH and the tokens that use the ETH blockchain, MEW is what majority of the users use these days. The security with MEW is awful, and you can read here on this forum of people losing their coins every day due to malware or other malicious attacks. I personally, have never found a better software solution. I tried to install the ETH wallet myself, but their blockchain is so bloated that it was a dreadful task. So, yes a hardware wallet would be the best recommendation if you can afford one. If you are gonna use MEW, make sure you have understood how to rune it safely (https://bitcointalk.org/index.php?topic=3461647.0). Good luck.
. OK I have looking into some wallets, have you heard of TRUST wallet is is in the Google play store, Suppose to support tokens, but wary of app based wallets
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August 10, 2018, 08:28:39 AM
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Just use a hardware wallet and nano ledger s fits this need of your for ERC20 tokens and other coins as well.

Trezor also support ERC20 tokens and many altcoins as well.

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August 10, 2018, 08:34:44 AM
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OK I have looking into some wallets, have you heard of TRUST wallet is is in the Google play store, Suppose to support tokens, but wary of app based wallets
Honestly, I've never heard of TRUST wallet. I see that it's an Android and iOS mobile solution. I don't know if I would "trust" it enough to use it. In any case if I am going to use it, I wouldn't put any significant amounts in it.

As the others have said, use a hardware wallet.
mfyilmaz
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August 10, 2018, 08:39:52 AM
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why make it so complicated when you can have it much easier? Just copy your private key and print it on paper but that paper in a ziplock bag and but it somewhere safe and you are ready to go... well at least for your long term investmens but for your everyday use you obviously need something more convenient and therefore I would recommend you using a ledger nano... but only if you need to store a few hundret bucks on it... it doesnt make sense in my world to have a wallet for 100$ but you only put 50$ on it... like this kids with their 300$ louis vuitton wallets and they dont even have 50 bucks in it..  Roll Eyes

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August 10, 2018, 12:19:19 PM
 #8

You can use https://myetherwallet.com for ERC20 tokens.

Guarda web wallet (https://guarda.co/app) supports many altcoins, you can input the private keys and use Guarda to send and receive funds. (I dont know how secure this is for large amounts, but I used Guarda successfully for small amounts.)

You can also use a USB, external HDD or VPS to store wallets or full nodes for your other coins if you dont want to use space in your harddrive/SSD. Make sure to encrypt the wallet or storage with a password, so that your funds are safe in case of theft or loss.

Remember to backup your private keys/mnemonics/login details securely (encrypted with password) in multiple mediums (e.g. USB, paper).

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August 10, 2018, 12:54:13 PM
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As with alot of new crypto coins jumping on to the bandwagon, most are in there pre-release phase that consist of tokens, mainly ERC20 value tokens, and with the ever increasing amounts of wallets and cold storage wallets on the market, what would be the best wallet to use for both tokens and valid altcoins, as I certainly don't need a wallet for every altcoin, is there a wallet out there that supports ERC20 token as well as altcoins. That would reduce this baggage?
I think coinomi fits your needs its an app with lots of altcoins and its supports erc20 tokens. You can trade their too, they are using shapeshift and changelly in their app. But if you are looking for storage of erc20 tokens only I think the second best next to hardware wallet is metamask.

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justin86
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August 10, 2018, 02:50:53 PM
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OK I have looking into some wallets, have you heard of TRUST wallet is is in the Google play store, Suppose to support tokens, but wary of app based wallets
Honestly, I've never heard of TRUST wallet. I see that it's an Android and iOS mobile solution. I don't know if I would "trust" it enough to use it. In any case if I am going to use it, I wouldn't put any significant amounts in it.

As the others have said, use a hardware wallet.

I think no one should trust a wallet which receives some updates and you basically don't know about it just some information. you should use Nothing but hardware

Encopeyt
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August 10, 2018, 03:32:03 PM
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Use myetherwallet for every erc20 token or buy the Ledger Nano S, it's now supporting more and more coins.
harizen
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August 10, 2018, 04:11:40 PM
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OK I have looking into some wallets, have you heard of TRUST wallet is is in the Google play store, Suppose to support tokens, but wary of app based wallets

It has good reviews but I don't test the app yet personally so positive feedback for me. For ERC20 tokens, I mainly used MyEtherWallet, less hassle and no need of downloads. Not also a fan of hardware wallet when storing ERC20 tokens.

Joined their telegram group so that you can communicate with other users and asked questions about their experience using this Android wallet.

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August 10, 2018, 04:17:12 PM
 #13

Ethereum and ERC-20 Equipment
  • ETH Blockchain Info https://etherscan.io/
  • Parity Wallet (Full Node) http://parity.io/ use with brave browser and metamask wallet
  • Brave Browser (privacy, crypto funding / anti advertisements and metamask support) https://brave.com/
  • MetaMask https://metamask.io/
  • Notes: Always backup metamask seed somewhere safe. You can add multiple different altcoins to metmask. Make sure to add some eth before sending other ERC-20 tokens so that you have gas for payment.

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Gloryobinna
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August 11, 2018, 08:20:42 AM
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I'd recommend Ledger wallet,  and also metamask for chrome extension,  like what others are stating I love their ideas..  Don't go for any app wallet, I feel they are the most insecure of them all...  All the best.

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Gloryobinna
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August 11, 2018, 08:21:45 AM
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I'd recommend Ledger wallet,  and also metamask for chrome extension,  like what others are stating I love their ideas..  Don't go for any app wallet, I feel they are the most insecure of them all...  All the best.



And please never you use MEW..  This is the most vulnerable...  Key word NEVER!!!

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August 11, 2018, 07:07:25 PM
 #16

You can try the imtoken wallet, which is a mobile phone app wallet that is currently easy to use. If you don't plan to use it on your phone, use MEW. Most people use MEW.

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