Using MyEtherWallet
Crypto is cool, until you realize you need a digital wallet to store your digital currency.
But don’t worry, there are loads of options, both hardware based and online. For more info about wallets, see my other blog here.
Today, I’m going to give you a quick overview of how to use a popular online wallet, My Ether Wallet, or MEW for short.
To create your MyEtherWallet start here.
Step 1: Enter your password and click “Create New Wallet”. Remember that passwords containing a combination of letters, numbers, and symbols are most secure.
Step 2: Download and save your Keystore File. You may want to copy it to more than one place. It is important to note that there is no way to recover this file once you click continue.
Step 3: Save your private key by copying and pasting it to a document or writing it down somewhere safe. Print your paper wallet and store it safely as well. Then continue to save your address.
Step 4: Here you can choose how you want to access your account. If you have a MetaMask wallet you can quickly add your new MEW wallet by selecting MetaMask/Mist from the list. Otherwise click Private Key and continue. You will use your private key to unlock your wallet.
Remember DO NOT SHARE YOUR PRIVATE KEY with anyone.
You are all set!!
If you click ‘Send Ether and Tokens’, you can see you public key, or address, current balance, and there is the option to send crypto to another address:
Your public key/address is what you will share with people so that they can send you crypto.
After sharing my public key with a friend, she was able to send me .005 ETH.
Now that i have a balance, I can sent ETH.
From the ‘Send Ether & Tokens’ tab, enter the PUBLIC KEY/ADDRESS of where you want to send your crypto. Enter the amount of crupto to send and click ‘Generate Transaction’ (remember, every transaction on the blockchain requires gas (ETH) so the amount you send will be less than your current balance, even if you opt to send your entire balance):
After the transaction has been generated, click ‘Send Transaction.’
Another window will pop up asking for you to confirm the transaction:
If you are sure that all the details are correct the click the blue button and make the transaction.
Finally, a green bar with the TX Hash will appear. From here you can view and verify the transaction.
And there you have it! You’ve just made a MEW account, and received and sent ETH!
For more information and the latest updates, you can follow MyEtherWallet on Twitter here.
