Ethereum (ETH) is the most popular cryptocurrency after the mighty Bitcoin. Released in 2015, ETH has managed to climb the market ladder and claim a capitalization of around $18 Billion in just 4 years of its existence.
Transferring Ethereum coins requires a crypto wallet that supports ETH transactions. MyEtherWallet (MEW) is the most popular Ethereum Wallet in the market. If you’re looking to quickly send/receive ETH coins, MEW is definitely the way to go!
Here’s how you can open a MyEtherWallet in 6 precise, practical steps:
- Go To The Official MyEtherWallet Website
Due to the undying popularity of MyEtherWallet, several opportunistic folks have duplicated the website. These phishing websites steal your personal/bank details for illicit purposes.
Make sure that you check the URL of the website. Do look for a MYETHERWALLET LLC(US) Certificate to verify that it’s the official site.
- Create A Wallet
Create your own MEW by entering a secure password on the front page. Make sure that the password is a series of random characters & symbols, with a length that’s enough for optimizing security.
- Save Your Keystore File
Download the Keystore file and store it in a secure place. This is a very important document that you simply cannot afford to lose. Once lost or stolen, it can never be replaced, and there’s no way to recover your coins.
- Safely Store Your Private Key
Make sure that only you have the access to your private keys. These keys are comparable to the PIN of a bank account. As the private keys aren’t password-protected, it’s best that you encrypt them and store them in a folder along with your Keystore File.
- Access Your Wallet
Once you’re done with the preceding steps, you can access the wallet by choosing any of the available options. If you’re a beginner, it’s advisable to choose the “Keystore File (UTC/JSON)” option.
- Backup The Important Documents
It’s absolutely necessary to store all vital documents like your Private Keys, Public Keys, Keystore File, etc., in a safe folder. To ensure bulletproof security, you can also store your Public Key Address and Private Keys in the form of QR Codes.
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