How to create an Ethereum wallet with MyEtherWallet

SyncFab
SyncFab
Nov 7, 2017 · 6 min read

We are closing in on November 15 — the official launch date of the SyncFab MFG Token Exclusive Presale.

If you haven’t already, make sure you register on https://blockchain.syncfab.com to qualify for the exclusive presale which includes a 50% bonus!

WHAT A DEAL!

Don’t wait and miss out — the early bird gets the worm…or in this case, the early-adopters, and manufacturing professionals gets one heck of a BONUS!

As we’re sure most of our readers are token enthusiasts, and no stranger to buying tokens with their Ethereum wallet, we are writing this blog as a friendly “reminder” to you “experts”, and instruct those new to the token buying experience how to set up an Ethereum wallet.

In this case, the wallet we are officially recommending is “MyEtherWallet.”

So why are we recommending MyEtherWallet? Well…

  1. MyEtherWallet is currently one of the most trusted and lightweight wallet to use for handling Ether and tokens. MyEtherWallet supports all ERC20 Tokens. You can create a new wallet (for free) or you can sign on with your private key without downloading the entire blockchain. You will have instant access to your wallet funds and ability to issue transactions. Even if you are completely new to token sales or Ethereum, MyEtherWallet walks you through the entire process, and this secures your access and helps you be mindful of your security (such as backing up your private keys). MyEtherWallet also supports hardware wallets such as the Trezor.
  2. You can use MyEtherWallet offline, and in incognito mode of the browser.
  3. A FRIENDLY REMINDER: DO NOT USE AN EXCHANGE WALLET TO SEND ETHER TO OUR SMART CONTRACT. PLEASE USE MYETHERWALLET. So why? Well, services like Coinbase, Gemini, Kraken, etc. are centralized. If their servers goes down, you won’t be able to access- also, some do not provide your own Ethereum address to forever store your tokens, and ETH.

Talk about awesome, huh?

We know Mario is, look at him go with the MFG Tokens!

Well, now that you’ve enjoyed ten whole minutes of Mario collecting his MFG Tokens, let’s get started!

In this tutorial, we will show you how to:

Setup your own wallet outside of a centralized exchange to one that YOU own (yes, you! — just don’t share your private keys with anyone)

Step 1: Use the following link, bookmark it and never use any other link https://www.myetherwallet.com. Always check your browser address bar after clicking this link, (to ensure that you were not rerouted by hackers, extensions or other security threats).

Step 2: Click on“New Wallet.” You should now see a screen similar

Step 3: Choose a password, preferably something long with numbers and characters. A good example of a password would be: De0&Z$XIZ@cJLp0N5R

A bad example of a password would be anything with your initials, middle name, dog’s name, or anything that people could potentially guess.

You can also use StrongPasswordGenerator to generate a password for you.

Make sure you write this password down. If you forget this password, you could lose your wallet (and funds) forever.

If you are using a password vault service similar to LastPass, or 1Password to generate and save your password, still make sure to write it down or save it as a “Description” or “Notes.”

Knowing SyncFab MFG token buyers are the most curious of them all, you might be wondering..why? Well, accidents happen, and has happened to many where the password for the wallets gets override when or if ever you decide to create a new wallet. In this case, we are not responsible for any lost MFG Tokens once they’re in your wallet. Sorry!

Step 4: Now that you’ve generated a super strong password and have input it into the field, let’s click on the “Create New Wallet” button to continue.

Step 5: You should now see a page that’s similar to the image below.

Step 6: Click ‘Download Keystore File’ and copy this file to multiple locations. Your Documents folder, and an external USB drive. Please read the warning sign on that page carefully. In case you didn’t, we’ve provided it below as a friendly reminder:

  • Do not lose it! It cannot be recovered if you lose it.
  • Do not share it! Your funds will be stolen if you use this file on a malicious/phishing site.
  • Make a backup! Secure it like the millions of dollars it may one day be worth.

Step 7: Great, now that you’ve read it over 10 times and fully understand how important it is, let’s click on “I understand. Continue.”

Step 8: The page “Save Your Private Key” should now show up. It will look similar to the image below. We’ve hidden a few numbers for security purposes.

Step 9: The private key is another way to access your MyEtherWallet without your “Keystore file” and password. Also, as best practice, we recommend you not store this password on your computer, just like the warning label states:

  • Do not lose it! It cannot be recovered if you lose it.
  • Do not share it! Your funds will be stolen if you use this file on a malicious/phishing site.
  • Make a backup! Secure it like the millions of dollars it may one day be worth.

Step 10: We recommend you to click “Print Paper Wallet,” only one copy, and store it somewhere safe. In your safe deposit box or a cold vault — a forewarning, if you keep it under your pillow, the SyncFab fairy is not real and will not reward any MFG Tokens.

The Paper wallet should look like this…minus the gray boxes you see in the images below. We’ve boxed it off for security purposes. You can never be too careful!

Step 11: Select “Save your Address” to save the wallet you’ve created and continue.

Step 12: Congratulations! You’ve just created an Ethereum wallet to store your Ethereum, and MFG Tokens.

Now that you’ve created an Ethereum Wallet through MyEtherWallet, let’s review how to access it by clicking on this tutorial:

How to access your MyEtherWallet

If you are having issues and need a SyncFab staff to walk you through it, please contact us at: contact@syncfab.com

or..

Contact us through our Telegram community.

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SyncFab

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SyncFab

SyncFab is the first peer-to-peer blockchain for the manufacturing supply chain. Learn more at https://blockchain.syncfab.com

SyncFabMFG

Stay up to date with the latest SyncFab MFG News

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