In case you are purchasing any digital currency with ERC20 token, you need to get a compatible wallet. ERC20 compatible token wallet is very easy and popular to come across. Some of them are listed below:
Ledger: you can store cryptocurrencies on this platform securely without any hassles.
Trezor model T: this enhanced version of the platform comes with new features with faster processing.
BitBox: this platform comes with a minimalist design which provides maximum security.
The Ethereum can be a physical object like gold or even native currencies. In the near future, tokens might be used for representing financial instruments. This can include bonds or even stocks. Tokens can have their own functions based on their use. One can trade ERC20 tokens based on their needs. It can essentially represent anything depending on the subject of its use.
Depending on the token standard, the price of the ethereum tokens can vary. Basic tokens can cost up to a couple thousand US dollars. The tokens are to follow regulations like their mode of transfer, mode of approval, and more. It also follows the rules of how users can access the tokens.