Cryptocurrency wallets for ERC-20, BEP-2, BEP-20 tokens

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With the development of the field of decentralized finance, the question of where you can safely and conveniently store DeFi tokens becomes relevant. Today, quite a few crypto wallets support work with the main blockchains used in DeFi. Btcnewsweb.com editorial staff offers an overview of the best wallets for ERC-20, BEP-2, BEP-20 tokens.

Cryptocurrency wallets: types, principle of operation

Wallets for tokens, cryptocurrencies, and stablecoins are classified according to different parameters (platforms, supported coins, key storage methods, adjustability, etc.). One of the main criteria is the key storage method. Private keys can be stored by the wallet service provider on its own servers. They can also be placed directly on the user’s device (phone, computer). The second option prevails in modern wallets, since no one doubts the importance of bearing independent responsibility for their own funds.

Crypto wallets by platform and form factor are divided into:

  • Hardware. A physical device that stores keys offline. The safest option, a must for storing large amounts of funds or long-term investments.
  • Desktop. Installed on a computer / laptop, they can be “thick” (download the entire blockchain to the device) or “thin” (do not require downloading the blockchain).
  • Mobile. Applications for mobile devices allow you to conveniently manage funds, connect biometric data for additional security.
  • Online (web). Presented in the form of accounts on websites or crypto-exchanges, they can be accessed from any device by entering a username and password.
  • Paper. With the advent of hardware, they have practically lost their relevance, but they can still be useful when you need a free method of offline key storage.

Most wallets are multicurrency, that is, they allow you to store more than one currency, but several at once (and often quickly exchange one for another within your account).

What are ERC-20, BEP-2, BEP-20 standards

ERC-20, BEP-2, BEP-20 are native tokens of Ethereum blockchains, Binance Chain, Binance Smart Chain. Let’s take a closer look at their features.

ERC-20

One of the most significant Ethereum tokens has just such a technical standard. It is actively used for smart contracts on the Ethereum blockchain and contains in its code a list of certain rules that an asset must comply with. ERC-20 tokens have value and can be sent or received.

The main benefit of standardization lies precisely in the presence of a general list of rules and specifications that all tokens on Ethereum must adhere to. These rules relate to:

✅  ways of transferring assets;

✅  total emission;

✅  the way users access information about the token;

✅  method of validating transactions, etc.

Thus, the standard gives developers the ability to accurately predict how new tokens will function in a larger system. They don’t have to adjust their projects for every new asset on the network. All ERC-20 tokens of different types will work the same anywhere in the Ethereum system.

BEP-2

BEP-2 is the technical standard for issuing tokens on the Binance Chain. Supports a set of characteristics that tokens must meet in order to successfully function in the Binance Chain ecosystem. A set of technical specifications ensures that assets within an ecosystem can communicate seamlessly with each other as well as with the surrounding network.

Despite the existence of certain rules, different assets still have different implementations for each specific use case for which they were created. And yet it makes life much easier for developers looking to release new products.

BEP-2 tokens can be traded on Binance DeX, a decentralized exchange that runs on top of Binance Chain.

BEP-20

The BEP-20 standard was created for the Binance Smart Chain blockchain and extends the capabilities of ERC-20, also has similarities with the BEP-2 standard. Conceived as a set of technical specifications for BSC with the aim of providing developers with a flexible format for launching different assets.

Binance Smart Chain and Binance Chain complement each other through dual architecture, however BSC is focused on serving decentralized applications to offload the main network optimized for ultra-fast trading. Much attention is paid to the compatibility of the two circuits. Therefore, BEP-2 tokens can be easily exchanged for their BEP-20 equivalent, for example, through the Binance Chain Wallet extension.

ERC-20 token wallets

Hardware

hardware wallet Ledger

Ledger Nano S is a wallet that meets all modern security standards. To protect, buy and manage over 1,500 tokens from a smartphone or computer, there is the Ledger Live app. Our own integrated operating system provides maximum security.

Examples of supported tokens: USDT, LINK, BNB, LEO, MKR, USDC.

The Ledger Nano S wallet is certified by ANSSI, the French cybersecurity agency. Built-in authentication, regularly makes sure the device has not been compromised by a third party. The certified chip provides protection against attacks of any complexity.

Ledger’s main competitor is the Trezor wallet. The main feature is reasonable checks of the firmware and bootloader, so no one will be able to embed unauthorized programs to steal keys into the wallet.

Trezor wallet

Other hardware wallets for ERC-20:

✅  Coolwallet

✅  KeepKey

✅  ChronoMint

Online (web wallets)

online wallet Myetherwallet

MyEtherWallet is an open source platform focused on storing and managing Ether and ERC-20 tokens. Although the work is carried out through a browser, all keys are kept by the user, and the wallet is only a convenient tool for accessing funds.

Examples of supported tokens: DAI, UNI, COMP, WBTC, AAVE.

Another convenient option is the MetaMask browser wallet, presented as an extension for Google Chrome. Allows you to make and confirm transactions in a couple of clicks. Works with absolutely all tokens placed on the ether blockchain.

Other online wallets for ERC-20:

✅  MyCrypto

✅  Coin Wallet

Mobile

Enjin is a mobile wallet for Ethereum tokens and more. Has a fairly well thought out security architecture using keyboard protection methods (Enjin Secure Keyboard), encryption and other measures. Easy to use, it helps you view and sort your tokens, make transactions.

Examples of supported tokens: SNX, ENJ, OMG, BUSD, UMA.

Other mobile wallets for ERC-20:

✅  Trust wallet

✅  Atomic

✅  imToken

✅  Infinito

Desktop

wallet Atomic Wallet

Atomic Wallet is a decentralized multi-currency and multi-platform wallet. The wallet uses BitTorrent and Atomic Swap technologies to freely exchange assets between chains. Atomic also supports instant exchange options based on Changelly and ShapeShift.

Examples of supported tokens: REP, CRV, UNI, DAI, USDT.

Other desktop wallets for ERC-20:

✅  SelfKey Wallet

✅  Eidoo

✅  HB Wallet

BEP-2 Token Wallets

Hardware

Several BEP-2 tokens, including BNB, are supported by the Ledger and Trezor cryptocurrency wallets. At any time, you can go to their sites and see the list of supported assets, which is regularly updated.

Online (web wallets)

Binance Chain Wallet is a browser wallet in the form of an extension, similar in functionality to Metamask, but only focused on working with BEP2 and BEP20 coins. It is quickly installed, allows for convenient exchange from one standard to another. By default, only BNB support is present in the wallet, but any other tokens of the listed blockchains can be added and removed manually by the user.

Binance DEX Wallet is a wallet that a user creates to work with a decentralized platform from Binance. In this case, the keys and the seed phrase are stored directly with the participant. Even Binance cannot help restore the wallet if the user loses the private key, recovery phrase, or key file.

Thus, any assets that are listed on this exchange can be stored on the Binance DEX Wallet.

Desktop

Coinomi wallet

Coinomi is one of the oldest multi-currency wallets with a high level of security and protection against hacking. There are versions for PC and mobile devices. Supports working with assets located on almost all existing blockchains (more than 1700 assets in total). User can manually add a token of a supported standard including BEP-2.

Mobile

TRUST WALLET wallet

Trust Wallet is a wallet officially supported by the Binance exchange. It makes it possible to buy cryptocurrency from a card or on an exchange (Binance Dex is integrated), storage, sale. Onboard support for decentralized applications, staking of some tokens. The user’s personal information is not collected.

The Enjin and Mathwallet wallets are also suitable for managing BEP-2 tokens.

BEP-20 Token Wallets

Hardware

Visit the websites of Ledger, Trezor, Coolwallet, Keepkey wallets to see if the desired coin is supported. From time to time, developers add popular assets to the list.

Online (web wallets)

Binance Chain Wallet

Binance Chain Wallet is the best option for managing BEP-20 tokens. You can install it in the Chrome browser by clicking on the link.

Mobile

wallet Math Wallet

An example of a high-quality mobile wallet with support for the BEP-20 standard is Math Wallet. He works with over fifty blockchains, including Binance. Among the advantages are the presence of a dApp Store, a staking pool, its own MATH token and the MATH Chain.

Supports BEP-20 standard and official Trust Wallet.

Conclusion

To choose a reliable and convenient wallet for ERC-20, BEP-2 and BEP-20 tokens, follow the reviews and opt first of all on services with a good reputation and a proven history. Also pay extra attention to controlling private keys. Keep your device safe and activate additional security measures like biometrics and 2FA.

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