Most of us will recommend our 'favorite' blade steel, but:
- Our cutting tasks may be different from your own.
- We may be 'steel junkies', cycling through blades looking for the 'ideal' steel.
- We may be willing to spend more for 'ideal' blade steel than you wish to spend.
- Our recommendations change frequently (we found a new 'ideal' steel).
In fact, properly-treated 420 steel is perfectly useable as an EDC blade - and is usually less expensive than blades of VG10, BG42, S30V, D2, etc.
420 may require some compromises, such as requiring more frequent sharpening sto maintain sharpness and using less acute edge bevel angles to prevent edge-damage.
If those compromises are acceptable, go for it!