How to send or exchange ERC20 ETH tokens?
Atomic Wallet supports all of the Ethereum-powered assets (ERC20). Some of them are listed by default, and some can appear in the coin list only if you have them on the balance. Learn how to add a custom ERC20 ETH token.
To be able to manage your ERC20 ETH tokens you need to pay the network fee for the transaction in ETH. The reason for it is that all ERC20 ETH tokens are working on ETH contracts and blockchain. Learn more about it here.
Important: you need to have ETH on your balance to send/exchange ERC20 ETH tokens. We suggest having at least 0.01 ETH.
All ERC20 operations (sending/ exchanging) require paying network fees in ETH. These fees are also known as GAS (GWEI). It is the same as for other assets. For example, for BTC transactions you are paying the network fees in BTC.
Fees in Ethereum blockchain are calculated in GAS. GAS is a separate unit that depends on computing power costs. In turn, it determines the transaction value for miners. When performing a transaction, your ETH in the wallet gets automatically converted into GAS. This is not the matter of information size, so it doesn't matter how much tokens you are sending: 1, 10, 100 or 1000. It's all about the nodes connected to the network.
On the following screenshot, you see an ERC20 ETH token and the network fee written in ETH
If you don’t have enough ETH to send ERC20 asset, you will see the following message Not enough ETH to send token. Please deposit ETH to your Atomic Ethereum address.
You can easily top-up your ETH balance by exchanging within the wallet itself or sending ETH from another wallet to Atomic.
Sending ERC20 ETH asset.
Sending ERC20 ETH assets is nothing different from sending any other asset within the wallet, except two points.
- The network fees are calculated in ETH.
- If you are sending an Ethereum-powered asset to a smart contract, it may require a higher GAS limit, that initially is set within the wallet (21000). Adjusting the GAS limit function is coming soon.
Follow the instructions:
- Choose the ERC20 asset you want to send.
- Enter the amount to send. Press Send all or mind to take out the network fee automatically. You can also set the fee manually. Check this guide on how.
- Paste the address you want to send the asset to.
- Enter your password.
- Click Send.
Exchanging ERC20 ETH asset
Atomic Wallet doesn’t support all of the ERC20 tokens for exchange. But many are available through our exchange partners. We suggest checking the availability within the wallet itself.
Otherwise, the exchange process for ERC20 tokens is the same as for any other asset.
Note: For exchanging operation you need to pay the network fee in ETH as for any blockchain operation with ERC20 ETH.
Important: All ERC20 ETH tokens have the same addresses as your ETH. Don’t worry, this is very normal as these tokens run on Ethereum blockchain and don’t have their own blockchains and unique addresses.
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