ERC20 tokens are custom user cryptocurrencies created on Ethereum based on successful ERC20 Token Standard. Currently, there is over 65,000 of ERC20 tokens in existence of which the most have no market value, see their full list.
Advanced Ethereum users can create a new ERC20 token fast and conveniently and have the advantage of the new token support in Ethereum wallets right from the start. This is also why ERC20 tokens have been widely used in ICOs and crowdsales.
|Firmware (device) support||1.4.0. (Trezor One), 2.0.5. (Trezor Model T)|
|Available in Trezor Wallet?||Yes (Beta)|
|Third-party wallets||MyEtherWallet, MyCrypto, MetaMask|
How to use ERC20 tokens with Trezor
Even though ERC20 tokens are currently not integrated in Trezor Wallet, they can be safely used with Trezor Beta Wallet and certain third-party wallets and services, with the seed and private keys fully protected by the Trezor device. These include MyEtherWallet and MyCrypto. For more information about other third-party services, see Apps.
Support in Trezor devices
Trezor firmware supports ERC20 tokens since firmware version 1.5.0 (for more information, see this blog article).
Every ERC20 token can be stored using Trezor device. Some of the ERC20 tokens won't be recognized by Trezor firmware, but they still can be stored and sent using Trezor. User has to specify the address path of this token, and it will be shown as "unknown token".
The list of all ERC20 token definitions supported in the latest firmware is available here.