MyEtherWallet is a powerful, open-source platform for securely trading Ether and other digital assets. It’s an important tool that allows users to set up secure wallets, store their private keys, send and receive Ether, interact with Ethereum smart contracts, and more. For new users of the cryptocurrency world, this guide will show you the basics of using myetherwallet.
Creating a Wallet
The first step in getting started with MyEtherWallet is creating your wallet. To do this, visit the official website and click on “Create New Wallet” in the top right corner. You’ll be asked to enter a password (which should be secure and memorable) for your wallet. After entering your password, you’ll be given a “Private Key” (a code used to access your wallet). Make sure you keep both your password and private key safe and secure!
Once your wallet is created, you can start sending Ether to it from other wallets or exchanges. Your balance will show up on the homepage after it has been confirmed by the network (this usually takes about 10 minutes).
MyEtherWallet makes it easy to send Ether from one wallet to another. All you have to do is enter the recipient’s address (which should be provided by them if they are not using MyEtherWallet), enter how much Ether you want to send, click “Send Transaction” and confirm it with your password. Once again, make sure that all information entered is correct before confirming! The transaction should show up in the recipient’s wallet within 10 minutes or so depending on network congestion.
Interacting with Smart Contracts