ERC20 Wallet Tokens For Hardware Wallet
The vast majority of cryptocurrencies in the cryptoverse right now are Ethereum-based ERC-20 tokens. That’s great news for hardware wallet users, as it means you can automatically hold any of these tokens on your wallet’s given Ethereum address.
And an interesting new asset-class has arisen in the cryptocurrency ecosystem that’s promising and worth looking at going forward: wallet-based token projects.
Putting one and two together, then, today My Hardware Wallet will be walking you through some of the most exciting ERC-20 wallet projects whose utility tokens you could potentially hodl – if you decided they were right for your portfolio, of course – on your Ledger or TREZOR.
ETHOS is a startup universal wallet project whose ETHOS token for now is used to access services on the project’s platform, cover transaction fees, and allow for instant rebalancing in users’ portfolios.
Those are pretty cool perks, so we see ETHOS having a strong foreseeable future. Wouldn’t be a bad hodl for your TREZOR one or Ledger Nano S! A universal wallet token within a hardware wallet – you have to love the cryptocurrency space.
Described as a “simple and secure bitcoin wallet,” Bread is another interesting ERC-20 token that we like in the weeks and months ahead.
The cool thing about Bread is that it’s already a successful and working bitcoin wallet, so now the project is just trying to take things to the next level. Their BRD ERC-20 token is going to have tons of utilities. According to the team:
Token holders will enjoy discounts, sequential tiers of complementary or exclusive access to premium features, and full white glove service for our most elite customers.
BRD could be an interesting hodl accordingly.
Lastly, let’s talk about Eidoo – the smallest of the wallet projects we’re looking at today, but not one to count out for sure. Eidoo aims to be both a multi-currency wallet and a cryptocurrency exchange, so it’s got that going for it.
The EDO token itself will have numerous utilities, such as paying fees for atomic swaps, centralized exchange APIs, running ICOs on Eidoo, using an Eidoo debit card, or using the decentralized Eidoo marketplace.
So if the Eidoo platform ends up doing well, that means demand should grow in kind for EDO tokens. It seems to be similarly attractive to BRD and ETHOS.
Best to keep your wallet utility tokens in the safest place possible: a cryptocurrency hardware wallet.
Get your wallet on!
As we mentioned in the beginning of this piece, one of the coolest things about the Ethereum blockchain is that you can hodl all your ERC-20 tokens inside your Ethereum address.
So, with the ETH address your hardware wallet generates, there’s no better place to store these ERC-20 wallet tokens. Indeed, buying into these cool projects’ tokens won’t mean anything if you leave your investments on an exchange like Binance and then have your account hacked, losing all your funds in the process.
Best to keep your wallet utility tokens in the safest place possible: a cryptocurrency hardware wallet. Posted by Myhardwarewallet on February 9, 2018 in BRD, Crypto, EDO, ETHOS, Exchanges, Hardware wallets