Which wallet can I use to hold EGX?
Digital asset wallets, commonly used for cryptocurrencies and other digital assets such as security tokens that use blockchain technology, come in several types, each offering varying levels of security, accessibility, and convenience. Despite the name, digital assets are not actually "stored" in "wallets". Instead, wallets are a metaphor for tools that manage the private and public cryptographic keys required to access and control digital assets on the blockchain. These wallets enable users to more easily interact with the blockchain, authorise transactions, and view balances associated with their keys.
Hot wallets are connected to the Internet, making them accessible but more vulnerable to cyber threats. There are several types of commonly used hot wallets.
Mobile Wallets: Apps for smartphones, such as Trust Wallet, MetaMask Mobile, and Coinbase Wallet. Convenient for on-the-go transactions, but best for smaller amounts and/or simple transactions and use-cases.
Desktop Wallets: Software installed on computers, such as Exodus, Ledger Live, and Atomic Wallet. Useful for active traders, but with a higher risk if the computer is compromised.
Web Wallets: Browser-based wallets, such as MetaMask, Coinbase Wallet, and Trust Wallet, often installed as browser extensions. These wallets are not tied to a computer and can be accessed from any device with an internet connection, but are often tied to exchanges, like Binance or Coinbase.
Cold wallets are not connected to the Internet, offering superior security but less convenience. There are several types of cold wallets.
Hardware Wallets: Physical devices, such as Ledger Nano, Trezor, and KeepKey. These devices offer high security against theft, as their use requires physical access for transactions.
Paper Wallets: Physical printouts of private keys or QR codes. They are Immune to digital theft, but are vulnerable to physical damage or loss.
Air-gapped Wallets: Wallets on devices completely disconnected from the internet, and are often used by institutions or for long-term storage of assets.
Custodial wallets are managed by third parties, such as exchanges or financial services, often a centralised exchange (CEX) such as Coinbase, Nexo, or Kraken. Users don’t control their private keys directly ("not your keys, not your coins"), which makes use easier for beginners but comes with trust risks.
Users retain full control over their private keys when using these wallets, such as MetaMask, Trust Wallet, and Exodus. This requires more responsibility for key management.
Require multiple signatures (e.g. two out of three keys) to authorise a transaction. Leading multi-sig wallets include Gnosis Safe, BitGo, and Casa. Ideal for businesses or group-held assets.
Wallets based on programmable smart contracts, such as Argent, Gnosis Safe, and Instadapp. They enable advanced features like recovery mechanisms and spending limits.
Each type of wallet has its specific use cases. For example, hot wallets are suited for frequent transactions, while cold wallets are better for long-term storage. Selecting the right wallet depends on your priorities, like security, accessibility, and use case.
As an ERC-3643 compliant security token, EGX can be held and managed in any type of wallet, as long as the wallet supports the Polygon network.
For ease of use, we recommend using MetaMask to manage your EGX holdings, or another well-known and tested wallet such as Trust Wallet.
Hot Wallets
Hot wallets are connected to the Internet, making them accessible but more vulnerable to cyber threats. There are several types of commonly used hot wallets.
Mobile Wallets: Apps for smartphones, such as Trust Wallet, MetaMask Mobile, and Coinbase Wallet. Convenient for on-the-go transactions, but best for smaller amounts and/or simple transactions and use-cases.
Desktop Wallets: Software installed on computers, such as Exodus, Ledger Live, and Atomic Wallet. Useful for active traders, but with a higher risk if the computer is compromised.
Web Wallets: Browser-based wallets, such as MetaMask, Coinbase Wallet, and Trust Wallet, often installed as browser extensions. These wallets are not tied to a computer and can be accessed from any device with an internet connection, but are often tied to exchanges, like Binance or Coinbase.
Cold Wallets
Cold wallets are not connected to the Internet, offering superior security but less convenience. There are several types of cold wallets.
Hardware Wallets: Physical devices, such as Ledger Nano, Trezor, and KeepKey. These devices offer high security against theft, as their use requires physical access for transactions.
Paper Wallets: Physical printouts of private keys or QR codes. They are Immune to digital theft, but are vulnerable to physical damage or loss.
Air-gapped Wallets: Wallets on devices completely disconnected from the internet, and are often used by institutions or for long-term storage of assets.
Custodial Wallets
Custodial wallets are managed by third parties, such as exchanges or financial services, often a centralised exchange (CEX) such as Coinbase, Nexo, or Kraken. Users don’t control their private keys directly ("not your keys, not your coins"), which makes use easier for beginners but comes with trust risks.
Non-Custodial Wallets
Users retain full control over their private keys when using these wallets, such as MetaMask, Trust Wallet, and Exodus. This requires more responsibility for key management.
Multi-signature Wallets (Multisig)
Require multiple signatures (e.g. two out of three keys) to authorise a transaction. Leading multi-sig wallets include Gnosis Safe, BitGo, and Casa. Ideal for businesses or group-held assets.
Smart Contract Wallets
Wallets based on programmable smart contracts, such as Argent, Gnosis Safe, and Instadapp. They enable advanced features like recovery mechanisms and spending limits.
Holding EGX
Each type of wallet has its specific use cases. For example, hot wallets are suited for frequent transactions, while cold wallets are better for long-term storage. Selecting the right wallet depends on your priorities, like security, accessibility, and use case.
As an ERC-3643 compliant security token, EGX can be held and managed in any type of wallet, as long as the wallet supports the Polygon network.
For ease of use, we recommend using MetaMask to manage your EGX holdings, or another well-known and tested wallet such as Trust Wallet.
Updated on: 28/01/2025
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