The success of the Ethereum blockchain has been leading to the creation of thousands of ERC-20 tokens. A vast number of wallets are available within the Ethereum space. However, we are going to restrict this analysis to only the 2 bests of them, determined by the security, ease of use, and the reputation.
It is crucial to know, before sending any of your tokens to an ETH wallet, you must ensure the receiver supports the token. Some exchanges do not support all the ERC-20, so if you send one by mistake to an exchange, you might not be able to recover it.
The 2 best wallets among all the Ethereum wallets are:
- MyEthereumWallet (MEW)
- Ledger
MyEthereumWallet, known as MEW, allows holders to create an ETH Paper Wallet. This paper wallet can store ERC-20 tokens as long as the owner keeps the private key in a secure place.
Here is a guide on how to create your own MEW Paper Wallet and transacting on it.
Ledger is a popular hardware wallet. It is a Multi-currency wallet that can store ETH and ERC-20 tokens, and a wide range of coins. The Ledger cold storage stores the private key within the device, keeping it offline.
The hardware wallet is considered as a better solution than the Paper wallet because they can support transactions. However, the hardware wallet requires to be purchased online on the factory website for a minimum budget of $60.
