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How to create a MyEtherWallet (MEW)?

lnhngn 17/11/2021 13:01 579 views

How To Create And Use MyEtherWallet (MEW)?

MyEtherWallet is a cryptocurrency wallet that allows you to store your cryptocurrency in your (MEW). It is a free and open source program for generating Ethereum wallets. The Ethereum platform has gained in popularity since its launch in July 2015. Ethereum is a prominent cryptocurrency that is now second only to bitcoin in terms of market capitalization.

MEW is a user-friendly and flexible solution for storing ether (ETH) tokens and other digital assets issued on the Ethereum platform.

MEW is an Ethereum blockchain client-side interface. MEW is not an online wallet, despite the fact that you can easily create new wallets in your browser with it. Despite the fact that you create the wallet online, all of your information and funds are saved on your computer rather than on MEW servers.

MEW combines the convenience of online wallets with the elimination of many of the risks associated with online money storage. MEW is compatible with both the Ledger Nano S hardware wallet and the TREZOR wallet, in addition to being accessible via a web browser.

MEW is a wallet that holds Ethereum (ETH) and any standard Ethereum token (ERC-20) that has been issued on the Ethereum network.

How To Create MyEtherWallet (MEW) Wallet?

Step 1: Go To MyEtherWallet Website

  • Open MyEtherWallet website using the URL: https://www.myetherwallet.com
  • Using a trusted computer and accessing the site using HTTPS address.
  • Note: Please check carefully the URL spelling. There are many phishing sites.
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Step 2: Creat A New Wallet

  • On the website of MyEtherWallet: Click the ‘Create A New Wallet’ button after scrolling down to it.
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  • This is how the website appears when you first visit it.
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  • We advise that you read the directions carefully.
  • When you’ve finished reading the instructions, the site will look like this.
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  • There are three ways to establish a new wallet in MyEtherWallet (MEW). These can be accessed by MEWconnect, a Keystore file, or a Mnemonic phrase.
  • Of the three, we recommend building your wallet through the MEWconnect smartphone app. This is the most secure and reliable method of storing and protecting Your information & data.

Option 1: Create Wallet With MEWconnect: Please watch tutorial videos as below.

  • Part 1: Click HERE to watch.
  • Part 2: Click HERE to watch.

Option 2: Use a Keystore File to Make a Wallet

  • On the website of MyEtherWallet: Select ‘By Keystore File’ from the ‘Create A New Wallet’ menu.
How To Create And Use MyEtherWallet (MEW) Wallet?
  • Make a login password (at least 9 characters) and write it down (MyEtherWallet will not be able to recover or reset your password for you). Make a note of it!
  • Select ‘Next’.
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  • Click ‘Download Keystore File’ to save your JSON file to a USB flash drive.
  • You’re finished, and you may get to your wallet now.
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Option 3: Create Wallet With Mnemonic Phrase

  • On the website of MyEtherWallet: Select ‘By Mnemonic Phrase’ from the ‘Create A New Wallet’ menu.
How To Create And Use MyEtherWallet (MEW) Wallet?
  • Go to the password optional area and create a login password (at least 9 characters are required) and write it down on paper (MyEtherWallet will not be able to recover or reset your password for you). Make a note of it!)
  • Choose a sentence of 12 or 24 words and WRITE IT DOWN. Then select ‘I Wrote Down My Mnemonic Phrase’ from the drop-down menu.
  • Note: Your Mnemonic Phrase should never be shared with anyone. Mnemonic Phrase allows you to access your wallet at any time. MyEtherWallet is unable to recover Mnemonic Phrase on your behalf.
  • After that, you must pass a brief test to have access to your wallet.

How To Access Your MyEtherWallet (MEW)?

On the website of MyEtherWallet: Click ‘Access My Wallet’ at the bottom of the page.

How To Create And Use MyEtherWallet (MEW)

MyEtherWallet (MEW) provides a number of options for accessing an Ethereum wallet.

How To Create And Use MyEtherWallet (MEW) Wallet? - Ethereum (ETH) And ERC-20 Token Wallet

Note: If you already have a Hardware Wallet (Ledger Nano S, Trezor, Digital Bitbox, Finney, etc.) or a MetaMask wallet, you can access it using the ‘Hardware’ or ‘MetaMask’ options.

To access your MyEtherWallet, use the ‘MEWconnect’ button. If you used MEWconnect to build your wallet, watch this tutorial video to access: Click HERE.

To Access Your MyEtherWallet With A Keystore/JSON File or Mnemonic Phrase, Click ‘Software.’

To access with Keystore/JSON

  • Choose ‘Keystore File’ and click ‘Continue’.
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  • In the pop-up window, look for your Keystore/JSON file. ‘UTC–’ should be the first character.
How To Create And Use MyEtherWallet (MEW) Wallet? - Ethereum (ETH) And ERC-20 Token Wallet
  • Click ‘Access wallet’ after entering your password.
  • You have gained access to your wallet

Using a Mnemonic Phrase to Gain Access

  • Click ‘Continue’ after selecting ‘Mnemonic Phrase.’
How To Create And Use MyEtherWallet (MEW) Wallet? - Ethereum (ETH) And ERC-20 Token Wallet
  • Select whether the phrase was 12 or 24 words long, then complete the form.
  • Click ‘Access wallet’ and enter your password (leave this blank if you’re using a MEWconnect phrase).
  • From the list that appears, select your wallet’s address, and you’re done!

What Is The Process For Sending A Transaction From MyEtherWallet?

Sending a transaction is simple using MyEtherWallet (MEW). All you’ll need is a wallet, an Ethereum address, and a little amount of ETH for gas. Gas is required for all transactions. For 2–3 transactions, we recommend carrying at least 0.01 ETH.

Important: If you’re transferring a significant quantity of ETH or ERC20 tokens, we recommend sending a modest amount first to ensure everything goes smoothly.

Step 1: Go to your MyEtherWallet (MEW) wallet and log in.

  • When you click the ‘Send Transaction’ button, your wallet should pop up. If it isn’t, look to the left of the wallet overview page for this section.
How To Create And Use MyEtherWallet (MEW) Wallet? - Ethereum (ETH) And ERC-20 Token Wallet

Step 2: Select the type of currency you’d like to send, as well as the amount and Ethereum wallet address to which you’d like to send it.

  • Double-check and triple-check the address you’re mailing to! MyEtherWallet is unable to retrieve funds transferred to the incorrect address.
  • When sending your whole ETH balance, use the ‘Send Entire Balance’ option so that your gas is calculated automatically.
  • Based on network congestion, gas and gas limit will auto-generate.
  • If the token you want to send isn’t listed, you may need to create a new token.

Step 3: On the next screen, click ‘Send Transaction’ and confirm the transaction.

  • If you’re using MEWconnect or a hardware wallet, double-check your transaction on your device.
  • Please view this tutorial video before sending a transaction via MEWconnect, click HERE.

Step 4: Review the transaction’s status and history.

  • Once your transaction has been confirmed! To check, copy the hash of your transaction. Check the hash of your transaction on Etherscan to ensure that everything went smoothly. Please read the following tutorial.

How To Check Your Transaction History And MyEtherWallet Wallet Balance?

For the security of your information, it is not suggested that you unlock your wallet every time you want to check your balance. Instead, you can use an Ethereum blockchain explorer like Etherscan or Ethplorer to see all balances and transaction histories. All you need is your public Ethereum address to check your balance. This is a 42-character string that starts with a ‘0x….’

Check with Etherscan

  • Go to Etherscan.io
  • In the search bar, enter Your Ethereum public address. You will be taken to the wallet overview page.
  • Your ETH balance and value may be found in the ‘Overview’ section.
  • Your Token Balances are listed under ‘Misc.’ This is where you can get the contract address, decimal count, and symbol of a custom token if you’re seeking for that information.
  • Transaction history for ETH, ERC20 tokens, and ERC721 tokens is displayed in the bottom tabs of the screen.

Check with Ethplorer

  • Go to Ethplorer.io
  • In the search bar, enter Your Ethereum public address. You will be taken to the wallet overview page.
  • Your ETH balance may be found to the left, under ‘Address Information.’
  • Your Token Balances can be found on the right. This is where you may get the contract address, decimal count, and symbol for a certain token while looking for custom token information.
  • The history of ETH, ERC20 token, and ERC721 token transactions is displayed at the bottom of the screen. If you only want to see ETH or tokens, use the tick marks at the top to apply filters.

Caution on Security

Never give anyone your Keystore File, Mnemonic Phrase, Private Key, or Password. These details provide total and unrestricted access to Your wallet.

Do not store this information on an internet-connected device. It can and will be found on your hard disk by hackers.

Create strong passwords and write them down in several places.

MyEtherWallet (MEW) will not be able to recover these details for you.


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lnhngn

"Don't invest in what you don't know. Learn first then invest"