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What is an ERC20 token?
What is an ERC20 token?

ERC20 tokens are Ethereum assets that exist on the Ethereum blockchain. Everything you need to know about ERC20 tokens on Ethereum.

Updated over a week ago

Everything you need to know about ERC20 tokens in Exodus.

Do you need a self-custody wallet to store your ERC20 tokens? You can download Exodus here.

In this article:

What is an ERC20 token?

ERC20 is a smart contract standard that allows developers to create fungible tokens on the Ethereum network. This standard allows developers to program how a token will work within the Ethereum network and give it unique functions and features.

All ERC20 transctions require gas to pay for the network fees when sending or interacting with ERC20 tokens. Gas on the Ethereum network is paid in Ethereum (ETH).

ERC20 tokens are commonly used by dApps and in DeFi. To learn more about dApps and DeFi, please visit:

Why do all my ERC20 tokens have the same address?

In Exodus, your Ethereum and ERC20 tokens share the same address because they are stored on the same blockchain, Ethereum. This Ethereum address always starts with 0x.

For more information on how to receive funds in your Exodus wallet, visit: How do I receive Bitcoin and other crypto in Exodus?

Don't send Ethereum Classic (ETC) to your Ethereum address. If you send ETC to your Ethereum address, you can recover it using this guide.

Do I need Ethereum in my wallet to use my ERC20 tokens?

Yes. All ERC20 transactions require Ethereum (ETH) to pay for transactions on the Ethereum network. This means to send an ERC20 token from your Exodus wallet, you will need ETH to pay for the Ethereum network fee, also known as gas.

For more information on how to send ERC20 tokens, visit: How do I pay for ERC20 token transactions with Ethereum?

If you want to know how much ETH you need to send or exchange your ERC20 token, you can check on Etherscan's Ethereum gas tracker. Be sure to look at the ERC20 transfer row.

How do I enable ERC20 tokens in my Exodus wallet?

Supported ERC20 tokens can be enabled in your Exodus wallet in the Assets section.

I don't see my favorite ERC20 token in the list of supported assets!

If an ERC20 token is not supported in Exodus, you can add it as a custom token! You can send, receive, and store custom tokens in your Exodus wallet.

For more information, visit: How do I add a custom token?

How do I check my token balances?

You can confirm and view your ERC20 token balance on an Ethereum blockchain explorer such as Etherscan.

a) Paste or enter your ETH address in the search bar, b) click on the ERC20 token dropdown. From here, c) you can view all your ERC20 tokens.

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