There are more than 100 active ERC20 based coins are in the crypto market. Mostly all of the tokens come from Token sales. You can find many Ethereum wallets, some people think to use exchange wallets to receive, but it is not suggested by Token owners because ERC20 Compatible wallets are more suitable than the exchange site addresses are. ERC20 wallet Token Compatible Wallets.
If you are joining airdrops or ICOs then using erc20 wallet android can be a good and secure way to receive a token. (erc20 eth wallet) wallet for erc20.
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Don’t use ethereum addresses from Exchange sites.
Always use ERC20 Token Compatible Wallets to receive Tokens from Crowdsale, Airdrops, or Bounties.
If you are using Desktop wallets then Bookmark the wallet site which you are using.
Always double-check the site link/URL before login.
ERC20 Wallet Token Compatible Wallets
MyEtherWallet (also known as MEW) can use on mobile or desktop. Recommended
Mist Developed by Ethereum team, need to download the app, after downloading the app it may take more than 24 hours to update BLOCKS. Recommended
MetaMask Wallet ERC20 Chrome and Firefox extension. Recommended
Parity Wallets are available for Windows, iPhone, Linux.
Mobile ERC20 Wallet
imToken Available for Android and iPhone.
Cipher Available for Android and iPhone.
Trust ERC20 Wallet available for Android and iPhone.
Not To Use Wallet ETH ERC20
Jaxx wallet erc20 is one of the best but it has some problems in recent times. Like transferring tokens take time and much more.
Should I Use Hardware Wallet?
Yes, hardware wallets are very secure and easy to use. But yes you wouldn’t like to connect your hardware wallet again and again hence for small transactions you can use mobile or desktop wallets but for big transactions or storage use hardware wallets only.
You can also use Ledger and Trezor hardware wallets to receive your ERC20 based tokens.
Note: This wallet is suggested to use only for Ethereum or ERC20 based Tokens. erc20 wallet address example.