How To Use MyEtherWallet (Tips and Tricks!)

in #cryptocurrency7 years ago (edited)

Screen Shot 2017-11-29 at 10_Fotor.jpg

I’ve done a few videos that reference MyEtherWallet, unfortunately, those videos mostly consisted of warnings, and how to tell if you are on the legitimate site. No doubt, that is great information for all to be aware of, but I wanted to take a better look at what exactly you can do using MyEtherWallet.

You can think of MyEtherWallet as the user friendly way to access the Ethereum blockchain.

You can use this site to quickly create an Ethereum wallet that gives you control of the private keys. They give great instructions on their site so if you are interested in doing this go ahead and take a look.
If you’re very new to this I encourage you to take your time and thoroughly read through the instructions to be sure you understand the implications of your responsibility for being in control of your own private keys.
Consider this the next step up from just keeping your coins on an exchange.

MEW has also proven particularly helpful with the massive increase of ERC20 tokens.

It enables you to view and transfer any ERC20 tokens that you may have that are connected to an Ethereum address. So if, for example, you’ve used Metamask or a MEW ethereum address to partake in an ICO and you’d like to transfer the coins to a different place,

Here’s how you can do that:

  • Import or access your wallet, MEW now gives quite a few options, (but let’s say you want to import your metamask wallet.)
  • Input your password and you’ll be taken to a screen like this.
  • Because there are so many tokens now, you’ll need to click the box that says “show tokens”. Here you’ll see a long list of tokens. If you have a balance of any of these, this is where you will see that information.
  • If the token you’re interested in is not listed, you can easily add it by scrolling to the bottom and filling out the “add custom token” form.
  • You’ll need the token contract address which you can find by going to ethplorer and search for your token. This is where you can find the token contract address, the token symbol and decimals information.
  • Go ahead and fill in this form with the correct information and your new token will be added to this list for this wallet.

If you want to make a transfer of any ERC20 tokens that are connected to this wallet:

  • Just select the drop down menu that is to the right of the “amount to send” box
  • Select the token you’d like to transfer
  • Fill out the amount you would like to send, the address you’d like to send it to
  • Set your gas limit- this determines how quickly your transfer gets from point A to point B. If you want to learn more about gas price and its affect on transactions, check out the link up above.
  • Once this info it filled out to your satisfaction, click “generate transaction” and your tokens will begin their journey through the crypto space.

In addition to the wallet services they provide, you can also make trades with the BITY application right on the site, you can interact with smart contracts and the Ethereum Name Service.

As we continue our exploration of MyEtherWallet, you’ll see the next few tabs give you options like:

Additional Reading/Sources:

MyEtherWallet Website
Phishing Scams Using MEW
More on ENS

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Excellent guide as always @heiditravels. I would like to mention that hardware wallets like Nano Ledger S and TREZOR provide integration with myetherwallet! Keep up the good work!

@heiditravels Thank You for these helpful TIPS and I always enjoy your content no matter where you are in the World.

always a learning experience thank you

Firstly I would like to start off by thanking you for taking the time to put together this educational content . I learn a lot each and every time you post something , and this time is no different. I appreciate your research

What an amazing situation you find yourself in.

Your smile is infectious and probably generates a big bunch of $$. Everyone likes attractive people.

And then on top of that genetic piece of good luck, you are super smart.

WOW.

You should go travelling and write a blog. LOL

Hey @heiditravels Thank you for the good explanation it's a good work and good info 👍👍

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Thanks for the tips on using this online wallet

Excellent overview, thank you @heiditravels. I've used MEW a lot and it is very fluid for me. However, not so much for ETC inside MEW. Do you have a video on ETC? I have some stacks inside Trezor from last June, but could not find them today. I'm sure they are there, but have any ideas? Thanks!

@heiditravels correct 1st link

MyEtherWalletwww.myetherwallet.com)

something wrong with markdown :)

EEk, thanks for the heads up. All fixed now ;)