MyEtherWallet (MEW) is one of the most popular and widely used Ethereum wallets. It enables users to securely store, manage, and interact with their Ether (ETH) and ERC-20 tokens. MEW also allows users to make transactions in a secure yet straightforward way. In this beginner’s guide, we’ll discuss all the features of myetherwallet and how you can start using it.
Features of MyEtherWallet
MyEtherWallet offers a variety of features that make it an attractive choice for Ethereum users. These include:
• Security – MyEtherWallet is designed with strong security measures in mind. It uses advanced encryption techniques to protect user data as well as two-factor authentication for added protection. Additionally, MEW does not store user information or account passwords on its servers, which means that users are solely responsible for keeping their data safe.
• Usability – The interface of MEW is intuitive and user-friendly, making it easy to navigate even for those who are new to cryptocurrency wallets. Additionally, the wallet supports multiple languages, so regardless of your preferred language you can use MEW without any difficulty.
• Compatibility – MyEtherWallet is compatible with both mobile and desktop devices, allowing users to access their funds from any device with internet connection. It also supports multiple hardware wallets such as Ledger Nano S or Trezor One which makes it even more secure than other wallets.
• Low Fees – Unlike many other cryptocurrency wallets that charge hefty fees for transactions, MyEtherWallet charges relatively low fees for transfers made through the wallet. This makes it a great choice for those looking to save money on transaction fees while still having access to high-quality services provided by the wallet itself.
Creating an Account
Now that you know some of the features offered by MEW let’s move onto how you can create an account on the platform:
1) Go to myetherwallet.com and click “Create New Wallet” at the top right corner of the page
2) Download your keystore file (UTC/JSON) when prompted; this will be your encrypted backup file that contains your private key
3) Enter a strong password when prompted; this will be used to encrypt your keystore file
4) Click “Download Keystore File (UTC/JSON); this will download a UTC/JSON file containing your encrypted private key
5) Write down or print out your 12 word mnemonic seed phrase; this will be used if you ever need to recover your account
6) You will then be taken directly into your dashboard where you can view all relevant information about your account including received funds, sent funds, etc
7) To send or receive funds simply click on either “Send Transaction” or “Receive Transaction” at the top right corner of the page
As you can see, setting up an account with MyEtherWallet is straightforward and easy enough even for complete beginners in cryptocurrencies. The numerous features offered by MEW ensures that users have a secure yet simple way of managing their ETH tokens as well as ERC-20 tokens such as Bitcoin Cash (BCH), OmiseGo (OMG), Augur (REP), etc., making it one of the best wallets available today! So if you’re looking for an easy yet secure way to manage all your digital assets then look no further than MyEtherWallet!