P2PG Token: Creating a wallet w/ MyEtherWallet
Just like you can easily create and set up your browser wallet using Metamask, you can also create your wallet on another popular wallet provider for Ethereum based tokens — MyEtherWallet (MEW).
MEW is a free interface that allows you to interact with the Ethereum blockchain, transfer and receive Ether and other ERC20 tokens. Just like Metamask, MEW allows you to create your wallet in a matter of seconds and generates the combination of your public address and the private key.
On top of that, you can also connect MEW with your Metamask wallet and use these two wallets together. In case you have a hardware wallet such as Ledger or Trezor, you might as well integrate your HW wallet with the MEW wallet.
Creating your MEW wallet
To create a wallet, go to the MEW official site:
It’s really important to double-check that you are on the official site as many vicious phishing sites are trying to trick you. Once you make sure about this, you may as well bookmark the site so, in the future, you can enter the site this way.
Now you can click on “Create a new wallet” right on the homepage and initiate the process.
You can then select from three ways of creating and accessing your wallet:
- The MEW recommended way is to do it via MyEtherWallet’s official app called ‘MEWconnect’ as this option is the most secure one and enables you to achieve hardware-wallet like functionality on your smartphone. The app is a more secure option because unlike with other desktop ways, your private keys are safely stored and never exposed.
You can find tutorials and guides on how to create a wallet and use the MEWconnect app here:
https://mewconnect.myetherwallet.com/#/tutorial-videos
The remaining two ways that you can select are the mnemonic phrase and the Keystore file.
- The Mnemonic phrase is basically the same as the secret backup phrase that we used while creating a wallet with Metamask. It is a sequence of 12 or 24 randomly generated words.
- The Keystore file is a repository where sensitive information and security certificates like private and public keys are stored. Although setting up a wallet this way is not recommended by MEW, to keep this guide desktop-oriented, we will proceed this way, however, we would suggest creating your wallet using the MEWconnect app if it is possible for you to set up a wallet on your smartphone instead.
After selecting the Keystore file you need to select a password of at least 9 characters that you will use to access your wallet. Once again, we would suggest choosing a strong password combination.
Once you input your password, you will be asked to download your Keystore file. Make sure to store this file safely, ideally offline — if you lose this file, you may not be able to recover your account.
You can now access your wallet with this Keystore file that was generated for you. You can generally access your MEW wallet using one of these ways:
· MEWconnect mobile app as mentioned before (recommended)
· With a hardware wallet such as Ledger, Trezor or Finney
· With a browser extension like Metamask that we have created in the previous guide.
· Software access with your private key, Keystore file (the option chosen for this tutorial) or mnemonic phrase
Since we have just generated our Keystore file, select this option. Once again, this option is not recommended by the MEW team but represents an easy way of creating a software wallet on your desktop.
When you click on the Software option, you have now another choice to make: you can decide to access your account with your Keystore file, private key or mnemonic phrase. Because we have already download a Keystore file in our previous step, we can now either select to either:
- import the whole Keystore file
or - select the private key and copy our private key from the Keystore file as our Keystore file contains our private key as well
You can thus simply locate the UTC JSON Keystore file that was downloaded during the earlier creation process of the wallet and import it here. After this step is completed, you are requested to submit the password that you have chosen at the very beginning… and voila, here comes your wallet!
The interface of the MEW wallet is pretty intuitive. You can find the address of your wallet on the left corner. This is the address (= public key) that you can submit to your account on P2P Guru to link your MEW wallet with your account on P2P Guru (just like we did with Metamask).
Adding P2PG Token
You can easily add P2PG token and other ERC-20 tokens to your wallet. To do that, click on “+ Custom Tokens” in the Token section. New window pop-ups and asks you to submit Token Contract, Token symbol, and Decimals.
In Metamask, you only need to fill in the token contract address information and the rest is automatically imported from Etherscan. With MEW, to add P2PG token, you need to fill in all three details manually as follows:
· Token Contract Address: 0x0669f97be1948804fda3cdd745f9ead2356aecef
· Token Symbol: P2PG
· Decimals: 18
After you submit and click on save, P2PG token is now successfully added in your Tokens section.
Linking the wallet with your P2P Guru account
Now that your wallet is fully ready, you can log in to your P2P Guru account, clink on Tokens on your profile, choose “Add your own ETH address” and submit the address of your MEW wallet directly to your P2P Guru account.
You will now receive P2PG tokens that you earn for your activity, receive in dividends, contests, airdrops and other categories right to your MEW wallet.
Connecting MEW & Metamask wallets
Ultimately, if you have already created a Metamask wallet with our previous guide but would like to experiment with the MEW wallet as well, you can integrate and connect these two wallets.
To achieve this, simply select Browser Extension next time you are accessing your MEW wallet, confirm the connection in the Metamask pop-up window and both of your wallets are connected.
To further test this integration, if you open your Metamask extension in your browser and look at your MEW wallet, you will see that your address in both of these wallets is the same.
This guide demonstrated that creating an Ethereum wallet with MyEtherWallet and adding P2PG token is as easy as creating a wallet with Metamask. Besides, you can even go as far as connecting these two wallets to enjoy even better user experience which is a huge plus.
The only important part of the whole process is to assess, how secure you will make your wallet and how particularly you would like to access and store the funds on your wallet.
The level of security of your wallet is completely up to you as MEW is a decentralized service and thus there are is no information about your wallets stored on MEW servers but every data is distributed directly to you. This makes the creation of a wallet easy and private, but also gives you full accountability for your funds.
Nonetheless, by following this guide, you have now easily created your Ethereum wallet and are able to receive, store and send your P2PG tokens.
P2P Guru: https://p2pguru.com/
P2PG Token on Etherscan: https://etherscan.io/token/0x0669f97be1948804FdA3CDD745F9eAd2356aECef
Reddit: https://www.reddit.com/r/P2PGuru/
Instagram: https://www.instagram.com/p2p.guru/?hl=en
See our other guides:
- Introducing P2PG Token
- How can you add items and earn on P2P Guru
- P2PG Token: Quarterly Distribution
- How to create a Software wallet w/ Metamask
- How to store on a Hardware wallet
