Crypto space has grown remarkably, with new applications and assets being created every while. These tokens not only serve as means of value storage but also power DeFi applications, expanding their use cases. Among these assets, the majority of them are ERC 20 tokens built on the Ethereum blockchain. 

The Ethereum network’s security, decentralization, and accessibility have made it a popular choice among developers to create tokens and leverage its liquidity. ERC-20 tokens provide various functionalities, from value storage to payment methods sent and received among users. These tokens are built on the Ethereum network and adhere to a specific set of rules known as the ERC-20 token standard.

Every crypto investor watching out Ethereum network and its upcoming market opportunities looks for reliable ERC-20 wallets that provide seamless performance while ensuring the security of their ERC-20 tokens. In this article, we will explore the top ERC-20 wallets of 2023 and break them down on the basis of security, compatibility, user-friendliness and other key factors. But before that, let’s understand ERC-20 wallets.

What is an ERC-20 wallet?

An ERC-20 wallet is a software application that offers users a convenient way to view their token balances, send and receive tokens, and interact with dApps built within the Ethereum ecosystem. 

Simply put, the ERC-20 wallet provides users with a single platform to manage and store all Ethereum tokens. They come in various forms, including web-based wallets, desktop wallets, and mobile wallets and offer distinct utility to users.

Best ERC-20 Wallet 2023

Ledger Nano X

Ledger Nano X(the updated version of Nano S wallet) is considered one of the most secure cold wallets to store NFTs, tokens, and other blockchain-based assets. Cold wallets are physical wallets that offer a highly secure way to store and manage cryptos and NFTs offline. With cold or hard wallets, your assets will only be lost if you lose the wallet itself or forget the secret key and recovery seeds to unlock it.

Ledger Nano X is built with multi-layers security, pin code, seed recovery keys, etc. It can store up to 100 different cryptos and offers bluetooth connectivity with Ledger’s mobile application. Ledger has been famous among crypto investors due to its advanced security, USB-C support and easy-to-use mechanism.

Ledger Nano S Plus

This wallet is offered by Ledger and is one of the cheapest cold wallets available in the market. It comes in various color options and is made of stainless steel and plastic. Ledger Nano S Plus supports USB-C and Android 10+, Windows, Mac, and Linux operating systems. 

Trezor Model One

This hard wallet provides the security and reliability of Trezor. It is a lightweight wallet, only 12g, and has an OLED screen with two-factor authentication within the device. It can be connected with Trezor Suit to buy, sell and exchange crypto assets in a single platform. Trezor Model One supports around 1289 crypto tokens and coins, including Bitcoin, Ethereum and all ERC-20 tokens. 

The drawbacks of the Trezor wallet are it does not come with bluetooth connectivity and is a bit on a higher price.

Atomic Wallet

Atomic Wallet is a non-custodial ERC-20 wallet that provides a secure and user-friendly platform to manage digital assets. It supports multiple operating systems for desktop and mobile devices, including Mac, Windows, Linux, Android, and iOS. 

Atomic Wallet offers seamless access to your ERC-20 tokens wherever you are. Its built-in Atomic Swap exchange enables direct token trading of over 1000+ cryptos within the wallet, eliminating the need for external exchanges. It prioritizes users’ security, giving them full control over their private keys and employing robust encryption protocols.

MyEtherWallet (MEW)

This free, decentralized, secure wallet is specifically designed for the Ethereum blockchain. MyEtherWallet or MEW, is an open-source platform that enables users to store, manage, and transfer Ether and other ERC-20 Tokens. Users can interact with various decentralized applications (dApps) and smart contracts built on the Ethereum blockchain with MEW. 

MyEtherWallet comes with multichain wallet extensions that supports Polkadot, Acala, Arbitrum and other Ethereum compatible blockchain. It also supports hardware wallets such as Trezor, Ledger and others. MEW has been well-known for its user-friendly interface and unique features in the crypto communities.

MetaMask

MetaMask is one of the most popular wallets among crypto investors for storing their ERC-20 tokens. It is a free web-browser-based wallet supporting multiple blockchains and tokens, including Ethereum blockchain, BNB chain, Fantom and more. 

One can easily manage their ERC-20 tokens and interact with dApps with the easy-to-use interface of Metamask. It has multiple language features and support for hardware wallets- Trezor and Ledger. 

Metamask has recently launched an upgrade for both the Android and iOS apps with better security and performance.

Updates on @MetaMask’s migration to WalletConnect V2.0👇

We are excited to announce that the MetaMask Android app V7.0.1 now supports WalletConnect’s V2.0, offering enhanced functionality.

— MetaMask 🦊💙 (@MetaMask) June 23, 2023

Trust Wallet

Trust Wallet is a leading ERC-20 wallet by Binance exchange that provides a secure and user-centric platform for managing crypto assets. With support for multiple blockchain networks, including Ethereum and Binance Smart Chain, Trust Wallet offers a seamless user experience with its intuitive interface and straightforward setup process. 

It features a dApp browser and mobile wallet, empowering users to manage tokens and interact with decentralized applications effortlessly. Trust Wallet offers an easy setup process for interaction with decentralized applications, staking capabilities, secure private key management, and ongoing development driven by an active community.

Exodus Wallet

This self-custody ERC-20 wallet comes with live charts and portfolio views and has a built-in swapping platform. It is available in a browser extension, mobile and desktop applications, enabling easy management and storage of ERC-20 tokens with a user-intuitive platform.

Users can also stake crypto assets within the Exodus wallet with support for over 50 blockchain networks to earn yield on their assets.

In latest, Exodus has partnered with Bitrefill- a gift card platform. This will enable users to purchase gift cards and manage their cryptos in a single platform.

Our integration with @exodus_io is officially live!

Now you can securely manage your crypto and shop gift cards all in the same place.

Living on crypto just keeps getting easier and easier. 😊 pic.twitter.com/FmYCp3c7DX

— Bitrefill (@bitrefill) June 20, 2023

Okto Wallet

Next, we have Okto- a one-stop solution to DeFi needs. It is a highly secure, user-friendly Defi wallet that lets users control their keys and crypto assets themselves. 

Built from the house of CoinDCX, Okto supports a wide range of crypto assets, including Ether and ERC-20 tokens, giving users access to thousands of digital currencies. One of Okto’s key features is that it facilitates seamless swapping and staking across multiple blockchain chains within the platform. This enables users to take advantage of various DeFi opportunities and maximize their earnings. 

Okto utilizes MPC (Multi-Party Computation) technology, a cutting-edge encryption protocol that adds an extra layer of protection to user funds. It also implements two-factor authentication, further enhancing the platform’s overall security.

Read More: Top DeFi Wallet in 2023

Guarda Wallet

This wallet is available in desktop and mobile applications and as a browser extension. It allows users to store, receive and trade over 400k crypto assets within the platform. Its user-friendly platform is designed to provide a smooth and feature-rich experience to all users, whether experienced traders or a newbie to web3.

Conclusion

ERC-20 tokens have become widely popular thanks to the decentralization and security offered by the Ethereum blockchain. With thousands of tokens minted, each with unique utility and use cases, these tokens have found various functions within the DeFi space. Some of these functions include staking to earn and secure networks, borrowing and lending, for payments, purchasing goods & services among users, and more.

The inherent value of ERC-20 tokens makes it crucial to store them securely. That is where an ERC-20 wallet becomes indispensable, offering a secure and safe solution for storing these valuable tokens. With these wallets, users can ensure the safety of tokens as well as utilize them to interact with dApps in the DeFi ecosystem.