A cryptocurrency wallet is a digital wallet that stores your private and public keys and interacts with various blockchain to enable users to send and receive digital currency and monitor their balance. If you want to use Binance, you will need a wallet that supports the ERC20 token standard.
The ERC20 token standard defines a common list of rules that all Ethereum tokens must follow. This means that if you want to use Binance, you will need a wallet that supports the ERC20 token standard.
There are many different types of wallets that support the ERC20 token standard, but not all of them are created equal. Some wallets are better than others in terms of security, ease of use, and features.
In this article, we will take a look at some of the best wallets for Binance. We have selected these wallets based on our own personal experience and criteria such as security, features, ease of use, and support for the ERC20 token standard.
1. Ledger Nano S
The Ledger Nano S is a hardware wallet that supports the ERC20 token standard. The Ledger Nano S is one of the most popular cryptocurrency wallets due to its high security features and ease of use.
The Ledger Nano S has a secure chip that stores your private keys in an isolated environment. TheLedger Nano S also offers an OLED display so that you can double-check and confirm each transaction with just one tap on its side buttons.
The Ledger Nano S retails for around $100 and is available from the Ledger website or from authorized resellers.
2. MetaMask Wallet
MetaMask is a browser extension wallet that supports the ERC20 token standard. MetaMask is one of the most popular Ethereum wallets due to its ease of use and support for multiple cryptocurrencies including Binance coin.
MetaMask allows you to store your private keys in an extension on your browser so that you can easily access your accounts on multiple websites without having to remember or store your private keys anywhere else. MetaMask also provides a built-in exchange so that you can easily swap between different cryptocurrencies without having to leave the MetaMask interface.
MetaMask is available as a browser extension for Google Chrome, Mozilla Firefox, Brave, Opera, and Edge. MetaMask is also available as a mobile app for Android and iOS devices.
3. MyEtherWallet (MEW)
MyEtherWallet (MEW) is an open-source platform that allows you to create an Ethereum wallet without having to download any software. MEW connects to the Ethereum blockchain via an infura node so that you can access your account from anywhere in the world without having to run your own Ethereum node.
MEW also offers an interface for interacting with decentralized applications (DApps) on the Ethereum network so that you can easily use DApps without having to install any additional software or extensions. MEW also offers an integrated cryptocurrency exchange so that you can easily swap between different cryptocurrencies without having to leave the MEW interface.