Both Trezor models support all the ERC20 tokens in the Trezor Suite application directly. Since these tokens are built on the Ethereum network, they also use Ethereum receiving addresses.
Receiving ERC20 tokens:
Open Trezor Suite and head the Ethereum account. Click on the Receive button and confirm the ETH address on your Trezor’s display. Once the tokens arrive at this address, the balance will be shown in the Ethereum account – Tokens tab.Although the incoming ERC20 transactions will be visible in the transaction history of your Ethereum account, the balance of ERC20 tokens is not added to the overall ETH balance. In order to see what is your balance of each ERC20 token you have to go to the Tokens tab.
Important note: Always double-check that you are indeed transferring an ERC20 token. Some tokens exist on multiple chains and you may accidentally transfer a different token than intended. For instance, Binance gives you a multiple network options at the withdrawal. If you are not sure if the token you want to transfer is ERC20, check its Contract address on Etherscan https://etherscan.io/ or other ETH blockchain explorer.
Sending ERC20 tokens:
Go to your ETH account and click on the Send button. Enter the destination address and choose the desired token from the drop-down menu located in the Amount field.You also have to set a transaction fee that has to be paid for every transaction. Trezor Suite gives you some estimation on the Gas price and limit values, but you can also check some Gas tracker such as the one available on Etherscan https://etherscan.io/gastracker and set a custom fee.
In case you choose a fee that is too low, you can bump it by clicking on the Bump fee button that you can find in the pending transaction details. You can bump the fee only if you have a sufficient amount of ETH in your account.
Check our new YouTube video manual where we explain everything in more detail: https://www.youtube.com/watch?v=t–bLcbXcdI