Basic steps to cryptomarkets — How to create an ETH Wallet — MEW

Welcome back to the third and last section of “Basic steps to cryptomarkets” series. During this session we will explain you how to create a wallet on the Ethereum blockchain through MyEtherWallet (MEW), and how to send and receive cryptocurrencies through MEW.

It may seem a lot more complicated that what it really is, and you will confirm it after having read this guide


Third Section

Step 1 — Create an Ethereum Wallet with MyEtherWallet (MEW)

MyEtherWallet is an electronic wallet used to store Ethereum and tokens in ICO projects.

1.Visit https://www.myetherwallet.com

2. Read the disclaimer

3.Create a strong password and fill it in the “Enter a password” field. You need to make sure to memorize the password and then press “Create New Wallet”

4.Download the Keystore file to your computer, by clicking on “Download Keystore File (UTC/JSON)”. After you have saved the file (double and triple check this!) and only after you are sure you have saved the file go on and click the “Continue” button.

5.Now you will see your Private Key which is used to login to your ETH Wallet, copy and save it somewhere, or print your private key with a Paper Wallet.

REMEMBER THAT IF YOU LOSE YOUR PRIVATE KEY THERE IS NO WAY TO HAVE THAT BACK, AND YOU WILL PERMANENTLY LOSE ACCESS TO YOUR WALLET. So take precaution.

You can consider your wallet address as your IBAN and your Private Key as your password.

Your Private Key is the access to the funds in your wallet and must be kept secret. The Wallet Address is the one you give to receive money from others or to transfer funds from other accounts.

The Wallet Address is the address you need to send us in order to receive your tokens at the end of the Token Sale.

Step 2 — How to receive and send Ethereum (ETH) with MyEtherWallet

First of all you need to login to MEW and access your wallet. You can see many ways of accessing your wallet, but we’ll stick to the Keystore File and to the Private Key

Keystore File

  1. Visit https://www.myetherwallet.com
  2. Click Send Ether and Tokens
  3. Sign in with Keystore / JSON File
  4. Select the wallet file
  5. Enter your password
  6. Click “Unlock”

Private Key

  1. Visit https://www.myetherwallet.com
  2. Click Send Ether and Tokens
  3. Sign in with Private Key
  4. Enter the Private Key
  5. Click “Unlock”

You will then be able to see your address and account balance: in order to Receive Ethereum, you can just share your wallet address to the ETH sender.

Let’s take a look on How to send Ethereum

Send from Coinbase to your MEW wallet

  1. Login to your MEW account and copy your ETH address
  1. Sign-in to your Coinbase account
  2. Click “Account” and scroll down to ETH Wallet
  1. Select “Send” and fill the form:
  2. Enter ETH Address: Paste you ETH Address that your previously copied from MEW
  3. Amount: Enter the desired amount to be transferred, in USD or in ETH
  4. Click Continue
  1. It will now open up a prompt with a summary of the transaction, check that all your info are correct
  2. Enter the verification code sent to your mobile phone via SMS and click “Confirm”
  1. You will be redirected to a confirmation page with the amount transferred
  2. Check your “Wallet Info” in MyEtherWallet, your ETH balance should be increased by the amount you sent less the transaction fees

Send Ethereum from MEW:

  1. Login in to MEW in the “Send Ether and Tokens” section
  2. Fill in the Sending Form
  3. Address to: Enter the ETH address of the receiver
  4. Quantity to send: Enter the amount of ETH you want to send
  5. Gas limit: Volume of gas you expect to spend
  6. Click “Create Transaction”
  7. After activating the transaction and confirming within a few minutes the ETH will be transferred to receiver wallet.

Remember that to transfer ETH, the system requires a fee. Be sure to have enough ETH to cover the fee as well. To know more on Gas Info:

If you have any more questions feel free to contacts us through our social accounts!


JOIN US AND STAY UPDATED

Website | Whitepaper | Twitter | Facebook | LinkedIn | Reddit