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Purse for ICO tokens: create and configure MyEtherWallet

How to create a MyEtherWallet wallet
How to create a MyEtherWallet wallet

INITIAL COIN OFFERING (ICO) provides a lot of opportunities to invest in start-ups based on the blockbuster and become the owner of the popular crypto currency at the stage of its acquaintance with the market. Investors who decided to become participants in the most profitable method of purchasing crypto currency, experts recommend paying attention to the purse MyEtherWallet. The service is built on the Etherium blocker and is very useful for working with tokens.

What is special about MEW?

In the expert rating of services for storing digital coins MEW wallet is among the most recommended. This is an application that works on the basis of the blockbuster. Using the MyEtherWallet wallet, you do not create an account on the site and do not keep funds on it. All data: transaction information, account balance, directly digital coins are stored in the computer / owner’s browser. There are three versions that differ in degree of privacy: the online wallet MyEtherWallet, the extension for the browser Chrome and the version for local / offline use.

Advantages of MyEtherWallet

A proven tool with a solid history of application;

  • a rather high level of security;
  • it’s easy to set up to cope with what even beginners can do;
  • does not require downloading to a computer block, there are both local and online versions;
  • private keys are stored by the user;
  • there is no binding to the operating system of the computer;
  • open source is used.

How to create MyEtherWallet: step by step instructions

The interface provides a “cheat sheet” for users, which is located on the right side of the screen. It contains not only prompts for users, but also offers links with answers to frequently asked questions. So, to create a purse MyEtherWallet, you need:

  1. Go to the MyEtherWallet website and go through the wallet registration procedure. For users, there is a version in Russian.
  2. Save file. Remember that if you lose it, you also lose access to the wallet. Important: the password is entered only once.
  3. Step 3: Save the private key (also mandatory in a closed, secure place).
  4. Print a paper wallet.
  5. Save the address in a separate file / folder.
  6. Choose how to access and open the wallet (code, file, etc.)

How to recharge your MyEtherWallet wallet

On it, you can translate any tokens based on the ERC20. To carry out transactions through MEW, the so-called GAS is required – funds to pay commissions. A sufficient amount for these purposes is about $ 10 or 0.01 ETH. From the size of the commission that the user sets for the manager, the processing speed of the transaction depends. The service provides a special form for calculating the optimal commission. Subtract it from the balances on the account.MyEtherWallet wallet

Then the procedure is pretty standard. First of all, it is necessary to exchange fiat money for a digital currency through a stock exchange / exchanger, where we choose the currency of purchase and the optimal rate. Pay attention to the reserve, user reviews that used the exchanger. At purchase the address of a purse is entered, the public key is used. The crediting will be displayed on MyEtherWallet in the “Transaction history” section.

How to add a token to the MyEtherWallet wallet

If you participate in ICO – add your token. Automatically in the purse operation may not be displayed. To do this, the user must manually enter the address, symbol and fraction. More detailed information with participation in ICO you can find in the FAQ section. After that, the tokens can be seen in the balance column.

How to sell tokens from MyEtherWallet on the exchange

First of all, it is necessary to find a platform that already works with the available tokens. You can do this on Coinmarketcap.com. At the selected site, if you use it for the first time, you will also need to complete the registration procedure, you may need to confirm your e-mail, as well as authorization. Next, the site will generate a special code to create a deposit. You will need to enter it in MyEtherWallet in the transaction section in the address bar and select the type and number of coins to be transferred. You must confirm the request for consent to the operation. After receipt of money on the stock exchange you can fix the profit.

Resume: safety tips

Do not forget about safety issues in any operation with the use of blockade technology. Basic principles: confidentiality and attentiveness. After all, in case of loss of passwords, private keys help you to restore them there will be nobody. No one will return the funds and will not be able to block the transaction if you become a victim of scammers. Therefore, the creators of MyEtherWallet recommend:

  1. Always use the official website www.myetherwallet.com. Any other addresses are phishing.
  2. The URL MYETHERWALLET LLC [US] should only be displayed in green.
  3. Do not trust the messages and links sent to you via e-mail, chat and instant messengers – Slack, Reddit, Twitter, etc.
  4. Never enter information after clicking on the links. Even if they are allegedly received from the MEW team. Use ad blockers and avoid advertisements in search engines.
  5. Before you send money to any project, study the information and feedback, ask questions if you do not understand something. This will protect you from investing in the scum.
  6. Do not rush and do not let emotions prevail over common sense.
  7. Our computer can not be the only place to store passwords. Always create copies in physical places, they are best stored on usb or printed on paper.
  8. Do not store keys in cloud services such as Dropbox or Google Drive.

If you have more than a week to conduct transactions, experts recommend creating a hardware wallet. For example, Ledger Wallet. More information on how to use this tool can be found in the course Cryptobotanyc.