Best ethereum wallet, MyEtherWallet, also known as the MEW wallet, is one of the most popular wallets for ether holders. The MEW wallet can be said to be one of the most reliable options for storing, sending and receiving Ether and the tokens connected to Ether.
Why do I need an Ethereum wallet?
Let’s start with why you need an ether wallet. With a digital wallet, you can easily access your cryptocurrency. For example, My Ether Wallet is a website where you can create an Ether wallet. You can use this wallet for various air operations, for example B. for storage, sending or receiving.
Technically speaking, an MEW wallet or other cryptocurrency wallet does not store your coins. It only gives you the address that you can use to get coins from other people. This address is often called the public address or public key in your wallet. Present it as your bank account number. You use it to get money from other people, right?
But what if you want to send coins from your wallet to someone?
To do this, you need a private address or a private key. This private key is generated randomly and is always unique. You should never share private keys with anyone. With this private key, you can send your coins or tokens to other people.
It sounds like something important, doesn’t it? It’s like that! If you lose your private key, you will lose all of your cryptocurrency. The harsh reality of the world of cryptocurrencies.
For this reason, the MyEtherWallet wallet has grown in popularity. It generates a private key for you, makes it available to you and offers secure storage options.
Reasons for Popularity
Let us reveal the secret of the popularity of this most popular wallet. MyEtherWallet is one of the most popular air wallets in the entire crypto community.
Reasons for MEW’s popularity:
It only takes a few minutes to configure MyEtherWallet. You only need your web browser to create your wallet.
Ease of use
After setting up your wallet. You can use it immediately. In our guide, we will talk about using MyEtherWallet, using it with TREZOR, Ledger Nano S hardware wallets, etc.
Free to use
It’s absolutely free for each user. Isn’t it perfect.
There are several ways to access the MyEtherWallet wallet. Some of the methods are presented below:
Access the MEW portfolio with MetaMask
MetaMask is a browser plugin that allows you to perform Ethereum transactions via regular websites.
Go to the MetaMask website and install its extension for Google Chrome. You must create an account here. This process is very simple and straightforward. Once the MetaMask account is configured, accessing your parts is easy.
You can go to MyEtherWallet.com, select the “MetaMask” option then click on the “Connect to MetaMask” button. In this case, you can unlock your wallet immediately.
Similar : Best Crypto wallet for Android and iOS
How to create Ethereum Wallet
Let’s take a look at the process of creating your own wallet on MyEtherWallet.com.
Go to https://www.myetherwallet.com and make sure the website is real. If you see “MYETHERWALLET LLC (US)” on the left side of the address bar, you can continue safely. It is very important to verify the authenticity of the site as there are many similar sites on the network that are used to steal users’ private keys.
Make sure to bookmark your MyEtherwallet.com website in your browser. This gives you some confidence in future visits to the right site. To add a site to your favorites, simply click on the star icon in the address bar.
You should see the inscription “Create New Wallet” on the main page of the site. Otherwise, click on the “ New Wallet ” tab .
On this page you need to enter a strong password that you need to write down or remember. Then, boldly click the “ Create New Wallet ” button .
After clicking the “ Create New Wallet ” button, MyEtherWallet.com will generate a password-protected private key – it is also called the “KeyStore” file in UTC / JSON format.
The KeyStore file can be used to access your wallet, so it’s very important for you to keep it in a safe place. Put it in a separate folder for a while.
Download the KeyStore file by clicking on the “ Download KeyStore File (UTC / JSON) ” button ( Download KeyStore File (UTC / JSON)), as shown below. After the download is complete, click “ I understand. Continue ”(I understand. Continue).
F. A UTC File will be downloaded, save that file without changing name.
G. Click on Save your address button to save address.
H. Now Unlock your wallet to see your address.
How to Use Myetherwallet
A. First you need to unlock you wallet to use it.
B. As shown above select the Keystore/JSON File.
C. Select a wallet file.
Now you have a valid ethereum wallet of your own.
You can check your account by simply entering the ether address of yours.
That’s it, a complete and detailed MyEtherWallet review is ready. Now, you understand how My Ether Wallet has earned its popularity in the crypto world. It is simple, convenient and allows you to store not only Ether, but also many popular ERC-20 tokens, which is very important for investment in ICOs.
Now you should have an idea of how to store tokens and how to create your own wallet.
It does not matter which wallet you use, you must keep your private keys in a safe place. In this crypto world, losing a private key is tantamount to losing your entire cryptocurrency!
Then, is MyEtherWallet safe? This and other similar wallets are as secure as you wish. MyEtherWallet reviews often mention an excellent service security system, but all responsibility for the loss or theft of a private key lies with you.
Based on the foregoing, I think that My Ether Wallet can be called one of the best wallets for storing Ether at the moment. But what do you think? Already created your MEW wallet or not ?