This method which is presented, is a method that will help ou keep ERC20 tokens safe and secure and which will help you to interact with Ethereum Smart Contracts area.
So ERC20 tokens, are tokens built on Ethereum
First standard to emerge at standardization of token contracts was the ERC-20
But we will discuss about how to create an Ethereum Wallet to keep beside ETHEREUM other ERC20 tokens.
WARNING: You And Only You Are Responsible For Your Security.
WARNING: Keys Can't Be Restore or password reseted
1.Go to MyEtherWallet.com and than on Create A New Wallet : https://www.myetherwallet.com/create-wallet
2.You can create a wallet in 3 methods:
a.Through MEW Mobile Application
b.By Keystore
c.By Mnemonic Phase
After choosing one method you will get a public and a private key. Public key = Eth Wallet Address and Private Key = Your Keys that control the Public Key.
- Write Your Keys And Password Down. Keep Them Safe.
- Don't Store Your Keys And Password on Your Computer or Phone.
Now that you created a wallet and you stored securely your passwords and private keys for Ethereum Wallet , you can now use this address to also send and store or exchange ERC-20 Tokens.
For importing and accesing your newly created wallet you can https://metamask.io/ to interact with on desktop PC and for mobile devices you can use Trust Wallet for example.
So if you need to receive ERC-20 tokens, those kind of tokens can be stored on the ETH wallet created above from My EtherWallet by giving your actual ETH address to store the ERC20 Token bought or received from an airdrop or from investing into an ERC20 token from exchange.
