EN 
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DE There are many different wallets. It is important to know which one is suitable for what. On this page we teach you what a MyEtherWallet is, what it is suitable for, how to create an account in steps and how to use it.
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What is MyEtherWallet – MEW?
MyEtherWallet (MEW) is an open source Ethereum wallet. You can create an Ethereum wallet on myetherwallet.com, which is then yours. You will then be assigned your own Ethereum address to which you can send Ethereum (ETH) and other ERC20 tokens.
Why should you use MyEtherWallet?
MyEtherWallet is an online wallet that is suitable for the storage of all your cryptocurrencies built on the Ethereum blockchain, also called ERC20 tokens. When you are no longer a beginner in trading cryptocurrencies, you will notice that especially new coins cannot be found on all exchanges. This is especially important when selling airdrops, for example. You often end up at decentralized exchanges, also called a DEX. To trade your cryptocurrency on a DEX, you need MyEtherWallet or a similar variant, such as Metamask. Moreover, it is very useful to have all your cryptocurrencies stored in one place, MyEtherWallet offers a solution.
“MyEtherWallet (MEW) is an open source Ethereum wallet. You can create an Ethereum wallet on myetherwallet.com, which is then yours.”
Before you start!
Before you create an account at MyEtherWallet, we advise you to first read how a wallet works so that you know which data is important to keep. The most important thing for a wallet are your digital keys, because these give you access to your wallet. It is important to know that these keys are not stored online on the blockchain but instead are stored independently of the blockchain platform within the digital wallet itself. Each key consists of both a public variant (public key) and a private variant (private key).
Consider your public key the same as the bank account you have with ING, or Rabobank or . This also consists of an address, usually starting with NL43 INGB 00123XXXXX or something similar. Your public key actually works about the same. The pin code with which you subsequently access this bank account is called your private key. If you then want other people to transfer cryptocurrency to you, you then use your wallet address again – this is a derivative of your public key.
IMPORTANT: ALWAYS keep your private key to yourself and in a safe place! Write it down and keep it safe. This also prevents you from being unable to access your wallet if your computer crashes. If someone else has the private key, he/she can steal all the coins. With the public key people can’t do anything but send coins, so that doesn’t hurt.
How do you create an account with MyEtherWallet?
We take you step by step in creating an account. MEW works quite simply, but it is important that you go through the steps flawlessly. So read it carefully and sit down for a while.
How do you create an account with MyEtherWallet?
We take you step by step in creating an account. MEW works quite simply, but it is important that you go through the steps flawlessly. So read it carefully and sit down for a while.
- Go to the official website of MyEtherWallet
Make sure that the URL starts with HTTPS:// and that there is a lock in the URL bar. MEW has been the target of various cyber attacks in the past, so it is important to be sure of a secure online environment. - Click on “create a new wallet”.
You must create a password of your choice. Immediately save this password in a place that only you can access. It is often safer to print these out than to keep them on your computer.
3. Download the keystore file.
You will also receive the private key via this download. Store both the file and private key where no one can access it. However, it is important that you cannot lose the file. This gives you access to your wallet. Then click on ‘continue’.
Log in to your MyEtherWallet
4. Log in. Now you have to choose how you want to log in to your MEW. There are several options.
- Via a hardware wallet, such as Trezor or Ledger).
- Via the Keystore file. Don’t have a hardware wallet? Then choose to log in with your Keystore document. Note that the combination with a hardware wallet is a safer choice for managing your cryptocurrency. If you clicked on Keystore / JSON File you will see the ‘SELECT WALLET FILE’ on your screen. Click on this and open the Keystore File you downloaded. Then enter your password and press ‘Unlock’.
5. Finished!
You have been given access to your public address, your balance, and the QR code associated with your account. You are now all set to receive and send tokens.
6. (optional) Log in from another location.
If you do not have your Keystore file with you, you can log in with your private key. However, this is not recommended! If you accidentally land on a fake website, cyber criminals can gain access to your wallet.
Ready to create a wallet on MyEtherWallet?
For the transfer of cryptocurrencies pay a small amount of transaction costs, this is also called a ‘transfer fee’. These transaction costs are always paid from your Ethereum balance. So make sure you always have a small amount of Ethereum on your MyEtherWallet.
Most people buy Ethereum through an exchange and then transfer it to MEW. Curious how to do that? View all exchanges here.
The transaction costs are also known within the wallet as “gas limit”, here the price of Ethereum is stated in numbers of “Gwei”, a unit of Ethereum. Compare it as a few cents to the euro. You do not have to dwell on this in detail and you can safely forget it. MyEtherWallet automatically fills in the transaction fees. Converted into euros, this is often only a few cents, so try not to worry too much about it.
To receive and send your cryptocurrencies, click on “send Ether & Tokens” at the top of the website. You should still be logged in, after which you will see the following screen:
“MyEtherWallet (MEW) is an open source Ethereum wallet. You can create an Ethereum wallet on myetherwallet.com, which is then yours.”
Sending tokens on MyEtherWallet
Under “To Address” you can enter the public address of the desired transaction. Always make sure that you use the correct address! You always send Ethereum to a different Ethereum address.
The same principle also applies to other tokens, always transfer to an address that applies specifically to that token. If you do not do this, the transaction will be ‘lost’ and you will lose your money! ETH cannot go to a BTC address.
Under “Amount to Send” you can enter the number of tokens you wish to send. By clicking on “Generate Transaction” a summary of your transaction will appear. Take a look at this and if it is approved you can click on “Send Transaction”. A green bar will appear at the bottom and your tokens will now be sent to the address of your choice.
Optional: when you click on “TX Hash” you will be redirected to Etherscan.io. Via Etherscan.io you can look up your own Ethereum address to see exactly what Ethereum and ERC20 tokens are in your account, so you don’t have to log in everywhere and every time with your Keystore file and password or Private Key.