How to get an Ethereum wallet? In order to be able to use cryptocurrencies, we need a very important component: wallets. And even more so, determine which one best suits our needs to safely store our crypto assets. There are many options, but it is important to choose the best ones for sports betting online bitcoin.
MyEtherWallet is one of them to keep your Ethereum safe and secure, Ethereum wallets are very similar to Bitcoin wallets, so here we are going to talk about how to get it?
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How to create a wallet using MyEtherWallet?
MyEtherWallet or MEW is the most popular Ethereum wallet option which is totally free. This is one of the best choices for storing, sending, and receiving funds, both from Ethers and related tokens. The purpose of this guide is to get an in-depth look at this wallet and learn how to use it.
How to get an Ethereum wallet? Set up MyEtherWallet in 5 steps:
Let’s see the necessary steps to create our wallet with MyEtherWallet and be able to use it.
Step 1: Visit MyEtherWallet.com:
We go to MyEtherWallet.com and verify that the site is correct and not another trying to go through it. If it is true, we will notice that next to the address, in our browser, it says “MyEtherWallet Inc”, which is highlighting in green.
This is important since there have been cases where hackers fully replicate a site and people enter personal information without noticing it. All based on stealing your private key.
Step 2: Create a new portfolio:
At the top left, we find the button to create a new portfolio, an option that is available when we enter the main page. If for some reason we are not on that page, it will be necessary to click.
Once inside, all you have to do is enter a password that we can remember, we can write it down somewhere, but then we must save that paper safely. It is important to use lower and upper case, as well as numbers and symbols. Finally, we click on “Generate Portfolio”.
Step 3: Create a Keystore:
Once we clicked on the “Generate Wallet” button, MyEtherWallet will generate the password-protected private key for us. This is also called the Keystore, which is a JSON format file.
This file is very important since it allows us to access our wallet, therefore we must take extreme measures to keep it safe. You can store it in a USB storage memory or also on the computer. Although the latter is a bit dangerous in case it ends up being infected by a virus or Trojan.
Now click on “Download Keystore File” (UTC / JSON), once the download has finished we now click on the button below that says “I understand. Continue”
Step 4: Print paper wallet:
Once this is done, the private key generates, which we will see in the next screen of MyEtherWallet. With this, as we saw, we can also access our wallet.
For this reason, it is very important to keep it safe. If someone were to have it they could access all our funds, and once stolen there is no way to recover them.
It is recommended to print the private key on a piece of paper, for that we click on the button “Print Paper Wallet”. This paper will contain not only the private key but also a QR code that willuse to access our wallet.
Once we have safely stored our private key, you can see the public address of the wallet by clicking “Save your address”.
Step 5: Create a JSON File:
After this step, we will be able to see the public address of our wallet. Although before, we will ask to choose a method to access our wallet.
We can see that there are several methods to do it, and in the guide, we have commented on a great majority of them. For this example, we will use the method with the JSON file.
After choosing the “Keystore / JSON File”, you need to select the file. If we click on the button “CHOOSE FILE OF PORTFOLIO” a window opens where we must search our computer, or where it is, the file.
Also, you need to enter the password from step 2, which was used to decrypt the JSON private key. Finally, we will have access to our wallet.
How to get an Ethereum wallet? What can you do?
It is important to know what things this wallet can do to know if it is not really useful to store our Ether. If we define it in a few words, we can say that MyEtherWallet is a web wallet that allows us to create a wallet for Ethereum in a few seconds. With it, we can store, send and receive Ether.
But if we go a little deeper, we must comment that this wallet does not physically store our cryptocurrencies. It only offers us an address that we can share with another person so that they send us virtual coins. This public address is as if it were the bank account number, which allows us to make a transfer.
When sending money with this wallet, we use a password that in the world of cryptocurrencies is called a private key. It is important that you do not share this with any person, since if so, they could access your funds. Using this, along with our public address, we can send coins and tokens to another address.
MyEtherWallet is responsible in part for protecting our private key. Also, it offers us different means of access after it generates, so that we keep it protected and safe from the threats that exist.