MyEtherWallet Guide | How To Use MyEtherWallet

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April 24, 2019 – MyEtherWallet is a free wallet where you can easily store, send, and receive ether through MyEtherWallet’s interface.

Its flexibility allows it to interact with smart contracts and avoid online vulnerability. All the information are stored in the computer, not in MEW servers.

The Dapp is compatible with Jaxx Wallet, Ledger Nano S hardware wallet, and Trezor wallet.

MyEtherWallet Guide

How much does MEW cost?

MEW is free to use. However, gas fees have to be paid when sending ether.

What cryptocurrencies can I store?

Ether (ETH), Ethereum Classic (ETC), and any standard Ethereum tokens (ERC-20) issued on the Ethereum platform.

Creating a Wallet on MEW

How can I add currency to my wallet?

Create a wallet via MEWconnect, Keystore file, or Mnemonic Phrases.

MEWConnect is a mobile app that helps protect users from phishing attacks. Here are some helpful guides:

  1. Create A wallet using MEWConnect app
  2. Connect with MEWConnect app
  3. Make transactions

Hardware Wallet with MEW

  1. Using Digital Box
  2. KeepKey Hardware with MEW
  3. Using a Ledger Hardware Wallet and Scarlot Hardware Wallet with MEW

To get started to create a new wallet, visit MyEtherWallet.

Guide in Creating a Wallet at MyEtherWallet

  1. Use “https”  or port 443 protocol to avoid being targeted by phishing attacks. Validate “MYTHERWALLET LLC(US)” SSL certificate in the URLbar
  2. Create a wallet and assign a secure password.
  3. Where to download the generated private key? In a local computer; a good security practice is to back up and keep it in safe storage only you can access.
  4. Where is my public key?
    1. Your account sign-in address will handshake with your private key to unlock the wallet. When you’re signed in, you’ll be able to view your balance and unique QR code.

Two ways to fund through MyEtherWallet

  1. You can always transfer ether and other accepted tokens by sending the tokens to the correct public address
  2. A SWAP feature will allow you to swap other coins and even USD to ETH.

MEW Security Features

When I look at the security feature, I look at Confidentiality, Integrity, and Accountability (CIA). MEW offers the ability to create wallets and facilitate off the grid (offline) transactions.

MyEtherWallet does not actually create the private and public addresses. These are randomly generated and not “picked”. A more detailed explanation can be found here.

To sum up, MEW comes with flexibility with secure transactions.

  • easy to use
  • an open-source platform
  • A lot of online support, via a rich knowledge base that includes videos
  • supports offline transactions

This article originally appeared on BitPinas: MyEtherWallet Guide | How To Use MyEtherWallet

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Raquel Marasigan

    A graduate student of Applied Business Analytics at the University of Asia and Pacific, Raquel’s interest is to bring together innovators, the public, and the government to advance their understanding of cryptocurrency in financial markets Her advocacy leans towards the adoption of blockchain technology that will help Filipinos to be the global change maker through article content [telegram @raqs]