MyEtherWallet (MEW): How to Use, How to Cash Out

8 minute read

MyEtherWallet: download to computer from the official website and create a wallet.

In this guide, you will learn how to download and how to use MyEtherWallet v6.4.0.

Download for Windows / Linux

Download releases (offline version)

Download from Google Play (apk)

What is MyEtherWallet?

MyEtherWallet - is a cryptocurrency wallet powered by the Ethereum blockchain. It is open source. The wallet is a simple shell, providing the ability to conduct cryptocurrency transactions. Private keys are created and stored directly by users, without third party access. Therefore, the full responsibility for the preservation of tokens lies directly with the clients of the wallet.

How to use offline?

To work with My Ether Wallet, you don't even need to visit the official website. It is enough to download the offline version of the application to your PC. At the same time, you do not need to download the blockchain itself.

myetherwallet front

Review

The Ethereum wallet works with devices like Ledger and Trezor. The project was launched in 2015 by two developers. However, one of them left for MyCrypto, creating a competing application that, in fact, almost completely copies it.

How to use MyEtherWallet

Step 1 - Open the site

Go to the оofficial website. myetherwallet create_tab

Click on "Create a new wallet". Select "Software" because in other options you need to buy a hardware wallet or download an application to your smartphone. myetherwallet software

On the next screen, select the type of key storage. It is either Keystore (key file) or Mnemonic SEED Phrase (Mnemonic Phrase). We will use a Keystore file that can be written to a USB flash drive. myetherwallet keystore

Next, you will be prompted to enter a complex password. The minimum must be 9 characters. Enter it and click the green "Create Wallet" button. myetherwallet password

Step 2 - Download Keystore

Download the file that contains the private key. It is in UTC / JSON format. myetherwallet legal This Keystore also supports the MyCrypto wallet for Ethereum. Save this file to third-party media for safety. You can use it every time you need to work with your wallet. Click "Acknowledge & Download". Save the key, or better yet, print it out.

Step 3 - get access

This completes the creation of a cryptocurrency wallet. It is completely ready to use. In the next step, you will be prompted to access the wallet. myetherwallet access

To log in, you need to select a login method. Choose Keystore. myetherwallet keystore

Click "Select File" and select the key. Its name begins with UTC - 2021 ... myetherwallet select

Enter the password and click "Access Wallet". myetherwallet access2

In the upper left corner, you will see your wallet address. To do this, click on the "Copy Address" button. You can also:

  1. Print a paper wallet.
  2. View the QR code of the wallet.
  3. Copy address.
myetherwallet front_page

Now you can top it up, transfer digital coins or import the key to another wallet.

Video Guide

Ways to get access to the wallet

myetherwallet access3

All methods will be displayed when you click the “Access My Wallet” button directly on the site. Of all the options, we will analyze the standard ones:

  • Use the private key file that you saved when creating the wallet. To do this, click “Select file” and specify the path to it. Enter the password that you came up with at the creation stage and click the “Submit” button. A couple of minutes will pass, and you will be able to carry out operations.
  • Use the “Private Key”. Select the appropriate item in the menu. Enter the key details and click the “Submit” button.
  • Use a mnemonic seed phrase (“Mnemonic Phrase”). The rest of the methods are used if you have a hardware wallet . To do this, you need to connect a hardware wallet. Enter your PIN on it. Go to the Ethereum application. Then go to the official website MyEtherWallet, where click on “transfer ether and tokens”. After that, select the type of wallet you have. Click the Connect button.

A window will appear where you need to select a derivation path. From the list that appears, click on the desired wallet and click on the “Unlock wallet” button. After that, you can carry out an operation: receive or send digital coins.”

How to add custom token

Following this process you should able to display your tokens with no issues at all. Before adding a custom token on MEW you should know how to make a secure account or wallet on MyEthereWallet.

Video: How To Add Custom Tokens into Myetherwallet com | Custom Tokens

There are several ways how you can transfer cryptocurrency to the account you need from a third-party source. To do this, you can:

  • Transfer tokens from a cryptocurrency exchange . Let’s take the well-known Binance as an example . Here you need to go directly to the exchange website, log into your account. Select “Assets” and the item “withdraw cash”. After that, select the cryptocurrency you want to send, enter the address of the MyEtherWallet wallet and specify the amount to transfer. Please note that the exchange also charges a commission. On Binance, it is 0.01 ETH.
  • Buy in an exchange service and transfer. To do this, choose a high-quality and reliable exchanger by reading reviews about it. Go to the website and select the desired direction, for example, “buy ETH for rubles”. Then fill out the form indicating the address, email and amount. Confirm the transaction. The money will come in a few hours, depending on the network congestion.
  • You can also use money from a bank card. To do this, in the exchanger, select the appropriate method, specify the required data. Please note that the commission for carrying out the operation for different methods is different. Somewhere it will be cheaper, and somewhere more expensive.

How do I fund ETC?

The cryptocurrency wallet works not only with the blockchain itself, but also directly with the Ethereum Classic network. So you can send or receive ETC. To switch to Ethereum Classic, you need:

  1. Go to the site.
  2. Select the ETC network at the top of the page. myetherwallet network
  3. The address for ETC will be identical to ETH. However, the balances will be different. Over time, you will get used to doing this kind of login. Note that it is best to use a hardware wallet in conjunction with MyEtherWallet. This is much safer, since the site is faked once or twice by scammers.

An online wallet is not a place for storing cryptocurrency. It only provides a graphical shell so that it is convenient to work with the network. To do this, he creates a private key, to which a public key is issued in a pair. It is also called the address or wallet number for convenience.

It is important to understand that only you should have the private key. Do not pass it on to third parties as it provides access to your cryptocurrency wallet. A public address is used to receive and transfer tokens. Press the button next to the number 1.

myetherwallet front_page

A window will open:

  1. with your public address, which can be shown to everyone (“My wallet address”)
  2. and a private key (“My private key”) which cannot be shown to anyone.

myetherwallet paper_wallet

How to download the offline version to a computer?

You can download the desktop version from the GitHub repository. To do this, go to the releases of the repository and scroll down to “Assets”. Here you will see the file MyEtherWallet.zip.

myetherwallet download

Download offline version from GitHub

After you extract the files from the archive, you will see the following files:

myetherwallet files

Open the file index.html with any browser. Disconnect the internet. And so, you have an offline version of the wallet on your PC.

Gas limit

Please note that gas is charged as a commission on air. What is a gas limit? This is the maximum amount of gas that is spent to confirm the transaction. The standard cost is 21,000. However, if desired, the commission can be changed in the settings.

myetherwallet gas

  1. Go to the “Send Transaction” tab.
  2. Find the “Gas Limit & Data” switch.
  3. Indicate the gas limit that you need.

How to withdraw Ether

How to withdraw money? The procedure is also quite simple. True, for this you need to have tokens on your account. You can send digital coins as follows:

myetherwallet send

  1. Select a token in the “Send Transaction” tab.
  2. Enter the amount to send (number of coins).
  3. Enter the recipient’s address.
  4. Check the details and click Next. Check the details again and confirm that you are confident in the operation.

How to check an account or transaction?

You don’t need to be constantly logged into MyEtherWallet to check your balance. Moreover, there are a bunch of services that display data on all transactions carried out on the network.

It is enough to go to the blockchain explorer, enter the wallet address and see at what stage the operation is.

Many people ask how to Cancel Pending Transaction in Ethereum, and thus we created a tutorial video showing you how to deploy smart contract easy as 1-2-3.

How to Cancel Pending Transaction Ethereum | EtherAuthority:

Chrome extension

Go to Chrome extensions directory and install the MEW CX extension.

myetherwallet chrome

Here is an instruction on how to use the MEW CX extension.

Not opening?

Try:

  1. Refresh your browser or try another one.
  2. Disable extensions.
  3. Wait (the server may be overloaded).
  4. Clear your browser cache.

Object Event Error

I was trying to unlock my wallet and when I encoded the password I got an Object Event error.

Solution: download the old version of MyEtherWallet 3.40.0 and try to enter the wallet in it.

MetaMask vs MyEtherWallet

MetaMask is a type of cryptocurrency wallet that can be accessed directly through a browser including Chrome, Firefox and Brave. Simply put, MetaMask is like a bridge between regular browsers and the Ethereum blockchain. For MyEtherWallet (MEW), it is a platform that allows developers or users to create their own Ethereum wallets and connect to the Ethereum blockchain.

So they do the same job - storing Ethereum-based tokens or ERC20 tokens. In this head-to-head comparison, MyEtherWallet is the winner for the following reasons;

  • Offers both hot and cold storage options.
  • Full node system.

Contacts

If you wish, you can visit the social networks MyEtherWallet to keep track of the latest news about the wallet or contact the developers.

They are on:

You can email support at [email protected]

Versions

6.4.0

Categories:

Updated: