A lot of cryptocurrency enthusiasts are looking to participate in upcoming cryptocurrency ICOs. Since most of these tokens are issued on the Ethereum blockchain, it means people need access to a compatible Ethereum wallet. Unfortunately, not all wallets in existence support cryptocurrency ICO tokens issued on the Ethereum blockchain. Below are the top wallet choices when it comes to investing in and receiving cryptocurrency ICO tokens.
Most people would not expect mobile wallets to be compatible with Ethereum-based ICO tokens, but there is one major exception. This mobile solution goes by the name of imToken, and is available for both Android and iOS. The imToken wallet was released not too long ago and offers all of the functionality one would come to expect. Always do your own research before getting involved with a new mobile wallet, though.
The recently released browser plugin for Chrome and Firefox supports Ethereum-based tokens as well. To be more specific, the MetaMask plugin can be used to generate an address capable of dealing with ERC20 tokens, even though users need to use a third-party token management services to access and use tokens. That is a bit of a hassle to a lot of people, but it is a solution for those people who prefer not to install any software whatsoever.
The Parity wallet is quite popular among Ethereum enthusiasts around the world. What makes this client so appealing is how it is more than capable of displaying the tokens by default, assuming the wallet’s Ethereum addresses are linked to any tokens whatsoever. Users will need to make some minor changes to the Parity wallet settings to ensure tokens are displayed properly, though. It is also possible to transfer tokens to a different account, if needed. Do keep in mind Parity will only watch tokens found in the Token Registry, though.
One of the primary Ethereum wallets used by desktop users is the Mist wallet. As one would come to expect, Mist is certainly capable of supporting ERC20 tokens, including token contracts. It only makes sense to have the “main” Ethereum desktop wallet support every possible feature the network has to offer. Do keep in mind storing funds in a desktop wallet is always a bit of a risk since desktops are often targeted by criminals and hackers. Take the necessary security precautions wherever possible.
It is not entirely surprising most people tend to use MyEtherWallet to buy, sell, and store ERC20 tokens obtained from cryptocurrency ICOs. One thing that makes MyEtherWallet so attractive is how it is an online wallet, even though it provides offline hardware wallet support at the same time. More specifically, users can generate a wallet address and use their Ledger or Trezor hardware wallet to access their account and provide additional security.
MyEtherWallet is also compatible with all of the wallets mentioned above, other than imToken. Moreover, users can export their MyEtherWallet private key to a different wallet solution if the need arises to do so. It is also worth noting MyEtherWallet is an open-source and client-side tool. It is the go-to solution for anyone interested in participating in upcoming cryptocurrency ICOs these days.
If you liked this article, follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin, cryptocurrency, and technology news.