New projects release tokens on these networks to take advantage of higher speeds and lower fees, so it’s a great way to make the most of your crypto, but you can only get access to these chains on a non-custodial wallet like MEW. Recently, MEW introduced support for two of these chains – Binance Smart Chain and Polygon. Meanwhile, Ethereum is already on to the next thing with sidechains – blockchains that are compatible with Ethereum assets and are taking some pressure off Ethereum’s very busy mainnet. Mainstream media and centralized crypto platforms just now caught up to the immense potential of Ethereum, barely scratching the surface of what’s possible on the network. That’s where an Ethereum wallet comes in: you can receive and hold any ERC20 token, securely and conveniently, until you decide to sell it or it becomes tradeable on major exchanges.Įthereum tokens are not the limit. Getting in early on these projects can be fun, but big exchanges like Coinbase or Binance are not going to support every new token, or if they do, by then the best opportunities offered by the project are gone. What makes an Ethereum wallet different from a basic crypto wallet? So many things: Token walletĮthereum tokens, also referred to as ERC20 tokens, are based on smart contracts and are the building blocks of everything cool in crypto – both the hype stuff and the genuinely useful stuff.Īny project can issue tokens on the Ethereum blockchain and offer them to the community as a form of reward or investment.
To jump on the latest and best trends in crypto (umm, NFTs!) you need a non-custodial, client-side, decentralized Ethereum wallet like MEW. These familiar platforms are convenient, especially for beginners, but if you’re only using these kinds of custodial solutions, you are missing out on the most valuable aspects of cryptocurrency. This is great for promoting widespread crypto adoption, but many people don’t realize that when you buy crypto on these platforms, they are the ones holding it for you, they establish the rules of how you can use it, and they decide if you can take your crypto elsewhere. If you’re curious about crypto, it’s pretty easy to get exposure through familiar apps like Venmo, Robinhood, or any of the big crypto exchanges. For a complete list of rules and an Ethereum getting started guide, click here.The days of complete crypto obscurity seem to be behind us.
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