If you’re new to cryptocurrency, chances are you’ve heard of MyEtherWallet (MEW). This popular wallet provides an easy-to-use interface for Ethereum and ERC-20 token storage. With its simple setup, MEW is a great choice for beginners. Here’s a quick guide to get you started with myetherwallet.
What is MyEtherWallet?
MyEtherWallet is an open-source free software platform that helps users interact with the Ethereum blockchain. It was created in 2015 and has since become one of the most popular wallets available, allowing users to store, send, and receive Ether and other ERC20 tokens.
MEW does not store user information so it requires users to provide their own private keys and passwords when accessing the wallet. This makes MEW more secure than other wallets because even if hackers gain access, they won’t be able to access your funds without your private keys. It also offers additional features like retrieving lost accounts and recovering lost passwords.
Creating an Account
Creating an account on MEW is very easy and can be done within minutes. Simply go to myetherwallet.com and enter your email address and a strong password to get started. Once you have your account set up, you will need to generate a set of public or private keys that will be used as a form of authentication when sending or receiving funds from your wallet.
Generating Keys
After creating your account, you will need to generate both public and private keys in order to access your wallet securely. The public key is essentially your address on the Ethereum network where others can send funds while the private key is used as a form of authentication when sending or receiving funds from your wallet. To generate these keys, simply click on the ‘generate keys’ button at the top right corner of the page after logging into your account and follow the instructions provided by MEW.
Sending/Receiving Funds
Once you have generated your public/private keys, you are ready to start sending/receiving funds from your wallet! To do this, simply click on ‘send’ or ‘receive’ in the top navigation bar after logging into your account then enter either the address or QR code that corresponds with where you want to send or receive funds from respectively. After entering this information, enter how much ETH/tokens you would like to send/receive then click ‘send transaction’/’confirm transaction’ once complete!
MyEtherWallet (MEW) is an easy-to-use wallet for storing Ether and other ERC20 tokens securely without needing any third party servicesor exchanges involved in managing user data such as email addresses or passwords . With its simple setup process and secure authentication system , MEW has become one of the most popular wallets for beginners who are just getting started with cryptocurrency . By following this quick guide , anyone can create their own MEW account within minutes !
