Happily, because ERC20 tokens are so popular, there are plenty of wallets to choose from, including the following:į Singapore Pte Ltd (UEN 02123338G) provides factual information on and compares many, but not all, products and services. If you’re buying any digital currency that’s issued as an ERC20 token, you’ll need to find a wallet that’s compatible with these types of tokens. Make sure you know which blockchain your coins or tokens are hosted on before sending them to a new wallet or address, especially as some tokens may exist across multiple chains.įind out more about altcoins in our top 100+ list. If you send coins from one blockchain to a wallet on another blockchain, you will lose your coins. If this happens, you will need to migrate your tokens over to the new chain, and will no longer be able to send the tokens to an Ethereum-based wallet. This means that the token will have to be swapped for a coin on the new blockchain once the migration is complete. Important: Some coins are launched as an ERC20 token, before being migrated over to their own blockchain. This means they’re hosted by Ethereum addresses and are sent using Ethereum transactions. The difference is that instead of running on their own blockchain, these tokens are issued on the Ethereum network. Just like Bitcoin, Litecoin and any other cryptocurrency, ERC20 tokens are blockchain-based assets that have value and can be sent and received. The protocol is necessary to ensure compatibility between the many different tokens issued on Ethereum. These include how the tokens can be transferred, how transactions are approved, how users can access data about a token and the total supply of tokens. Buyers contribute Ether (ETH) or Bitcoin (BTC) to participate in a crowdfunding sale, and in return receive some of the ICO project’s native tokens.ĮRC20 is a technical standard for tokens issued on the Ethereum blockchain, providing a list of rules that all Ethereum-based tokens must follow. Initial coin offerings (ICOs) have raised billions of dollars in funding for crypto projects from all around the world, and most of these ICOs are based on the Ethereum platform. Since its launch in 2015, Ethereum has become one of the driving forces behind the growth of cryptocurrency. Have holdings in the cryptocurrencies discussed. The nature of any product or service (including its legal status and relevant regulatory requirements)Īnd consult the relevant Regulators' websites before making any decision. Consider your ownĬircumstances, and obtain your own advice, before relying on this information. Is unpredictable and past performance is no guarantee of future performance. Involve significant risks – they are highly volatile and sensitive to secondary activity. Cryptocurrencies are speculative, complex and This information should not be interpreted as an endorsement of cryptocurrency or any specific provider,
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