ERC20 Tokens - Direct or via Exodus

Hi,

pretty new to Trezor (just installed today) and only trying to get my head around various ways how to deal with ERC20 tokens that are not supported natively as an “account” but only under Ethereum, so apologies for the newbie question (I’ve tried to search first of course)

I am using Trezor T in MacOS Trezor Suite with a Hidden Wallet that’s synced with Exodus MacOS App.

I’ve tested three ways how to send funds to my Trezor T wallet:

  1. MATIC token - I have first withdrawn my exchange funds to my Exodus wallet and then used Exodus “Transfer Funds” function to store them into Trezor T. The Transfer Funds function generates the Recipient Address automatically (cannot be changed) that’s confirmed via “Confirm Address” icon and shown on Trezor T device. Funds show correctly in Trezor Suite under Accounts / Ethereum / Tokens / MATIC and in Exodus in my HW Wallet Portfolio with “Hardware Wallet” label. All good.

  2. LINK token - I have withdrawn my exchange funds directly into my Trezor T wallet using my ETH Account address via ETH network. Funds show correctly in Trezor Suite under Accounts / Ethereum / Tokens / LINK and in Exodus in my HW Wallet Portfolio with “Hardware Wallet” label. All good.

  3. XMR and XLM tokens - As with MATIC, I have first withdrawn my exchange funds to my Exodus wallet and then used Exodus “Transfer Funds” function to store them into Trezor T. The Transfer Funds function generates the Recipient Address automatically (cannot be changed) that’s confirmed via “Confirm Address” icon and shown on Trezor T device. Funds show in Exodus in my HW Wallet Portfolio with “Hardware Wallet” label. They however don’t show in Trezor Suite - even if I manually add ERC20 token address, it’s showing balance 0. I can see the transaction on the blockchain, but it is showing some address probably generated by Exodus.

  • How do I confirm the funds are stored on my Trezor T in the Trezor Suite outside of Exodus?
  • Why are MATIC and LINK showing OK, but XMR and XLM using the same process as MATIC doesn’t?
  • How do I see the balance in the Trezor Suite?
  • What happens when Exodus app stops working or being supported, how do I retrieve (send) my funds from Trezor T without Exodus app?
  • Does Exodus store the funds on Trezor T in some additional wallet I can’t see? How do I make it visible?

Thanks.

Hi @Phantomski,

fist, it is important to understand that coins are not stored in your Trezor. Coins are stored on the addresses and these addresses are stored in blockchains. Private keys for these addresses are stored in the Trezor device and only the owner of these private keys can manage coins that are on these addresses.

You can find a detailed description in this post from our official blog: Where in the world are my coins?. Back to Basics | by SatoshiLabs | Trezor Blog

Also, I would like to mention that it is not necessary to use Exodus in the process of sending funds from exchange to addresses protected by Trezor. You can send the funds directly to these addresses. For example, you can send your ERC20 tokens from exchange directly to your ETH address (the one you see in Trezor Suite under your ETH account). You can find more information on how to use ERC20 tokens in Trezor Suite in this video: How to use ERC20 tokens in Trezor Suite. - YouTube

The reason why you can’t see Monero (XMR) and Stellar (XLM) in Trezor Suite is that these coins are not natively supported in Trezor Suite. However, these coins are supported in Trezor devices (Monero only in Trezor Model T, Stellar in both models). It means that you need to use 3rd party app/webservice to manage these coins. For Monero you need to use Monero CLI/GUI (more information can be found in this article https://trezor.io/learn/a/monero-xmr-on-trezor-model-t). For Stellar you need to use wallet Account Viewer. Make sure you have Trezor Bridge installed before you start to use these 3rd party wallets. Also, make sure to use supported browsers with Account Viewer (Chrome, Firefox).

Also, I would like to suggest watching this video on different types of supported coins in Trezor: Supported coins in Trezor - YouTube