Best wallet for tokens

What is it like?

Most ERC20 token holders used to hold their token in Myetherwallet. Tokens are held on ethereum addresses and Myetherwallet gives you an opportunity to conduct token transactions with the help of Ledger or Trezor or not only.

However, if you want to hold different currency, check full and relevant information about its rates and work with intuitive interface you’d better to choose multicurrency client-side wallets.

Here we are going to analyze the most important criteria when choosing a reliable token wallet.

1. Your wallet shouldn’t be vulnerable to fraud or steal. In order to avoid such occasions you need to remember one important thing about hosted and client-side wallets. Hosted wallets create a private key on servers. It means that if this server will be hacked your personal data will be stolen. Client-side wallets create a private key entirely on your device and it cannot be stolen if you keep your device secure. So to say, client-side wallet is a decentralized wallet.
2. Next point connected with security is backup. What should you do if you forgot your password or would like to use another wallet? You can easily do with your mnemonic if your wallet has a backup.
3. Beware of duplicate sites. Speaking of desktop wallets, there is some kind of scams when scammers create a duplicate site of the desktop wallet and stole your personal data if you enter it there.
4. The fourth point is obvious but necessary to mention. When choosing your token wallet pay attention on which token are supported. Maybe later you will want to buy some new tokens and it could be really convenient to hold all of them in one wallet.

Another significant criteria is about wallet’s interface. Never mind you are an advanced user or newbie you probably appreciate if your wallet has an intuitive interface and smooth design. It is not just a whim but a necessity. It helps you to send and receive fund easier and to check transaction details more efficiently.

Let’s consider the most suitable token wallets according to these points

Trezor (Hardware wallet)

Security ✔

Anonymity ✔

Ease of use ✘ (It requires a laptop or a PC to make a transaction)

Lots of tokens supported ✔

Backup ✔

Exodus (Desktop wallet)

Security ✘

Anonymity ✘

Ease of use ✔

Lots of tokens supported ✔

Backup ✔

Lumi (Mobile wallet)

Security ✔

Anonymity ✔

Ease of use ✔

Lots of tokens supported ✔

Backup ✔

Visit our website and download Lumi for iOS and Android! Try it for free and enjoy secure and relaible wallet!