In this article, you will learn how to create a myetherwallet account and get an ethereum address and will also learn to manage your token.
MyEtherwallet is undoubtedly the best wallet ethereum to carry out your transactions on the Ethereum blockchain.
MyEtherwallet is also a must have wallet to participate in an ico and invest in a new ethereum based token. Indeed a more conventional wallet as Coinbase although recommended for beginners who do not manage Ethereum tokens.
But if you want to seize interesting opportunities offered by Ethereum tokens (ERC20) you should definitely turn to MyEtherwallet.
Creating an Ethereum wallet with MyEtherwallet
Visit the MyEtherwallet website.
On the Create New Wallet page, enter a sufficiently complicated password that combines, if possible, upper and lower case letters, numbers, and special characters.
Once you have entered your password, you will need to download the file containing your private key. Make sure to keep this file in a safe place and do not lose it!
This file also makes it possible to restore your Ethereum wallet. Please understand the extreme value of saving this file in a secure manner, especially if you place large quantities of ether there.
Once the file containing the private key has been downloaded, click on the "I understand" button. Keep on going. "
Your private key will then be displayed, Copy and save it!
Once the key is copied and saved click on "Save Your Address".
Your wallet is now created. So you will connect into it to view your balance or make transactions.
To return to the homepage and click on the "View Wallet Info" tab of the main horizontal menu.
Check the "Private Key" option as a connection method to your wallet.
In the reserved text field that appears in the center, paste your private key and click on the "Unlock" button to access your ethereum wallet.
Once logged in you will be able to see your Ethereum address mentioned under the label "Your Adress".
This address whose suffix is always "0x" whatever the address generated will allow you to perform your various transactions on the Ethereum blockchain.
You will also be able to take note of your displayed balance in the number of ether mentioned under the heading "Account balance" in the panel on the right.
Make a transaction on the Ethereum blockchain
We will make our first transaction on the Ethereum blockchain using our freshly created wallet.
First click on the "Send Ether & Tokens" tab to get the page below.
You will need to fill in 3 main fields that are:
To Address: An ethereum address always starts with the suffix 0x and matches the address of the recipient. That is the destination address that will receive your ether.
Amount to Send: The amount of ether you wish to send
Gas Limit: The maximum amount of gas you want to spend so that the transaction is more or less fast and precisely according to the amount of gas you have fixed.
Once the 3 fields have been correctly filled in, click on the "Generate Transaction" button.
Then click on the "Send transaction" button that appears at the bottom.
Then click on the button "Yes, I am sure! Make transaction " to complete the transaction.
A message on a green background will then appear.
By clicking on Verify Transaction you will be able to follow the progress of the transaction on the Ethereum blockchain via the Etherscan.io website as shown in the image below.
Safety Tips while using MyEtherwallet
You must be aware that the management of your wallet ethereum is under your responsibility.
So if you ever get stolen your ethereum or a Hacker manages to liquidate your wallet it will be entirely your fault.
Indeed MyEtherwallet is not a bank account and no one can help you recover your account in case of loss of your private key.
That's why I wanted to provide you with some safety tips so you do not take unnecessary risks and feel more comfortable:
- Do not connect to your Ethereum wallet from a pc that does not belong to you.
- Safely store your private key in a safe place on your pc (preferably a hidden or password protected folder) and do not reveal it in public!
- Never click on a link referring to myetherwallet knowing that this link does not contain the "https" connection protocol (phishing attempt).
- Use the myetherwallet module available in chrome to avoid using your precious key private key to connect directly to your wallet ethereum.
- If possible get a cold storage device to store your ethers.
It was necessary for you to understand the operation of MyEtherwallet in case you want to create a wallet ethereum but also to understand the importance of token ethereum.
Myetherwallet is indeed the wallet's reference when it comes to managing token ethereum but also to have the opportunity to invest in a promising ico that could interest you.