What is ERC-20 token?

ERC-20 is a technical standard emerged to use for all smart contracts on the Ethereum blockchain for token implementations. How to receive ERC-20 tokens? To receive an ERC-20 token, you simply have to send it to your Ethereum address.

Where to store ERC20 coins?

But the ERC20 coins has now been widely adopted. For the more ERC20 token can be stored in any existed wallets which supports ETH. We are not recommending to store your ERC20 tokens or any other coins on exchanges platforms. Read advantages of crypto wallets for all coins including ERC20.

How does ERC 20 work?

The ERC-20 standard arose from a 2015 proposal that was merged into the Ethereum protocol via an Ethereum Improvement Proposal (IEP-20). Interacting with ERC-20 tokens requires the use of ETH. For example, if you want to send 100 ABC tokens to Alice, you'll need to attach a small amount of ETH to pay for the transaction.

What is an ERC20 wallet address?

Typically, the ERC20 wallet address is an Ethereum address. More so, all Ethereum addresses are compatible with storing ERC20. Also, all Ethereum wallets are actually connected to the Ethereum blockchain. Therefore, the ERC20 address will mean an address in the Ethereum platform.