Are you a beginner in the world of cryptocurrency? If so, then you may be looking for an easy-to-use platform that allows you to store and send Ethereum (ETH) tokens. MyEtherWallet (MEW) is one such platform, and it’s designed for those who want to keep their ETH securely stored and easily accessible. Whether you’re a new or experienced user of cryptocurrency, this guide will help you understand how to use MyEtherWallet.
What is MyEtherWallet?
MyEtherWallet is an open source, client-side interface that allows users to interact with the Ethereum network. It provides users with secure storage, sending, and receiving options for their ETH tokens. MEW is also compatible with other wallets and interfaces like MetaMask and Trezor. It’s available on both desktop and mobile devices, making it easy to use on the go.
Getting Started With MEW
The first step in using MEW is creating an account. To do this, simply navigate to the website (https://www.myetherwallet.com/) and click “Create New Wallet” at the top of the page. Next, create a strong password that only you know; this password will be used to access your wallet in the future. Once your password has been created, select “Create New Wallet” again and download your Keystore file onto your computer or mobile device—this file should always be kept safe! Now that your wallet has been created, you can begin sending Ether (ETH).
Sending & Receiving ETH
Now that your wallet has been created, you can start sending and receiving ETH! To send ETH from your wallet, select “Send Ether & Tokens” from the main menu at the top of the page. Here, enter either a recipient address or recipient name into the appropriate field; if desired, enter a gas limit as well as notes about the transaction (optional). When complete, click “Generate Transaction” followed by “Send Transaction”—this will send ETH using your account funds!
Receiving ETH is just as easy as sending it; simply generate an address by selecting “View Wallet Info” from the main menu at the top of MEW’s home page. Here, select “Receive Ether & Tokens” followed by generating a new address—copy this address into an email or text message so someone can send you ETH tokens directly!
When sending or receiving funds via MyEtherWallet it’s important to note two things: firstly – never share your private key with anyone else; secondly – always double check all addresses before submitting any transactions! This will ensure that no mistakes are made when transferring funds between accounts/wallets/addresses etc., thus avoiding any potential losses or theft of funds due to wrong addresses being used! In conclusion, MyEtherWallet is a great option for beginners who wish to store their Ether tokens securely while having access to them anytime they need it. Not only does it provide secure storage options but also makes it easy to send and receive funds without worrying about transactions being reversed due to incorrect addresses being used – something which can happen when using other wallets/interfaces such as MetaMask or Trezor! With these tips in mind – happy cryptoing!
