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:
Trading Ethereum for Bitcoin or Ethereum for Augur, also you can trade Bitcoin for Augur or Ethereum as well.
Interact with smart contracts, and even deploy your own smart contracts.
Search the ENS, the Ethereum Name Service system to see if your desired name is available.
They also provide the steps needed to secure your own name.
For those of you who aren’t familiar with this concept, you can check out my past video that talks more in depth about the Ethereum Name Service, basically this name service allows you to choose a name that you can use instead of a long public address. This can be very beneficial for those who often receive payments in Ethereum or who make numerous transactions with this coin.
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 👍👍
Congratulations @heiditravels, this post is the third most rewarded post (based on pending payouts) in the last 12 hours written by a Superhero or Legend account holder (accounts hold greater than 100 Mega Vests). The total number of posts by Superhero and Legend account holders during this period was 28 and the total pending payments to posts in these categories was $1029.71. To see the full list of highest paid posts across all accounts categories, click here.
If you do not wish to receive these messages in future, please reply stop to this comment.
thanks for the information @heiditravels
Real helpful!
@heiditravels correct 1st link
something wrong with markdown :)
EEk, thanks for the heads up. All fixed now ;)
Thank you for the good explanation. It is new to me, but I will try it out. Great work, keep it up :)
Thanks Heidi, worth the resteem. Very handy, especially as alot of ethereum based ICO's use MEW. Australia on the cards for your future travels?
Your information is very important. Thank's very much @heiditravels
I do like.
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!
Thanks for the tips on using this online wallet
Yep, one of my favorite wallets. I like how it can switch over the Ubiq network too.
@heiditravels
How about video how to use
http://remix.ethereum.org
:)
Thanks for your helpful information
You are definitely one of the best one here to guide everyone who is new to cryptocurrency. Be it investing in ICO's or Analyzing coins to invest in or how to use hardware wallets and keep your coins safe. Keep up the good work. What will your next video be about?