Are all Ethereum wallet addresses compatible with ERC-20 tokens?

In turn, wallets and other ERC-20 compatible services use this standard to enable their infrastructure to receive, store, exchange and send ERC-20 tokens. The first thing you need to know is that all Ethereum wallet addresses are compatible with ERC-20 tokens.

What is ERC wallet & how does it work?

ERC wallet is the one that stores your ERC-20 tokens to secure your digital assets from any kind of theft attack. Like other crypto coins, ERC tokens are also stored by a lot of traders so that their price value will surge with the passage of time. There are many hardware wallets that are compatible with the ERC tokens.

What are ERC-20 tokens?

ERC-20 tokens are digital tokens that are built on the Ethereum Blockchain using the ERC-20 standard. These tokens represent a variety of assets, such as utility tokens, security tokens, and stablecoins. ERC-20 tokens are fungible, which means that each token is interchangeable with another token of the same type and value.

Which ETH wallet should I use?

When it comes to ERC-20 tokens, the recommended wallets are MyEtherWallet (MEW) and MetaMask. Whatever the ERC-20 token may be, you can be sure that they are accessible via these two wallets. Before opening an account on either of these two ETH wallets, it is important to note that they are self custody wallets.