With MyEtherWallet (MEW) you can easily save, send and receive any type of ERC20 token.
MyEtherWallet (MEW) is a free open source tool that allows you to create wallets for tokens that work under the Ethereum network.
This platform was launched in mid-2015 and has not stopped growing since then. Over time, the Ethereum network has established a high position in the world cryptocurrency ranking, being the second cryptocurrency with the highest capitalization, only below Bitcoin.
What exactly is MyEtherWallet?
Broadly speaking it is an interface that interacts with the Ethereum blockchain. Although it may seem so, the data is not saved online, but on your device, in this way it addresses and avoids the multiple problems of having funds online.
It can be accessed from the most used web browsers today.
What kind of cryptocurrencies can I save in MEW?
Ethereum Classic (ETC)
Any token that meets Ethereum standards (ERC20)
First steps to create an account in MEW
First of all you should go to the MEW website. Once you are there you should simply enter a strong password of 9 digits, minimum.
Second you must click on Generate Portfolio.
Third step: You must download your keystore. It is important that you save it and remember your password, both documents will be essential. The Keystore cannot be recovered, so keep it well. Then we will understand, continue.
Next, a private key will be generated. This key cannot be recovered later, it is essential that you keep it safe.
Once you have printed the paper wallet and kept it safe, you can proceed to save your address.
Your paper wallet should look like this, it is very important that you do not share this information with anyone.
From now on, you have your wallet ready and ready.
How do I add cryptocurrencies to my wallet?
First you must choose what type of wallet you have. By default, you will enter with the new wallet you created, although MEW also accepts access to cold wallets such as Trezor or Ledger Nano S. Then you will have to pay attention to your address and send there the amount of ether or any other ERC20 token you want to receive. As simple as that.
Pros and cons of MEW
- Easy to use
- Open Source
- There is a lot of information on the internet about it
- It can be accessed through a web browser
- Does not store passwords or private keys
- Compatible with all ERC20 tokens
Many of its users have fallen into phishing attacks
To avoid this against, it is important that you always look at this symbol at the beginning of your browser’s navigation bar. It needs to have a green section with the company information.