A Brief Overview of MyEtherWallet
MyEtherWallet (MEW) is an open-source cryptocurrency wallet that offers the users the facilities to store their crypto-assets and can send and receive it via the Ethereum blockchain.
MyEtherWallet is indifferent to the web-based crypto wallets where the users keep their crypto-assets on third-party servers e.g., crypto exchanges, etc. In the case of MyEtherWallet, crypto users have the capability to create wallets and initiate sending and receiving digital currencies via MEW’s network.
MyEtherWallet is entirely dedicated to Ethereum and tokens that rely on Ethereum blockchains e.g., ERC-20 tokens, etc. This means that support for cryptocurrencies like Bitcoin, Bitcoin Cash, Ripple, etc. is not available. However, MEW is a popular choice when it comes to Ethereum and its blockchain-dependent tokens.
One of the significant features of MyEtherWallet is that users are the sole owners of their private keys and only they can manipulate the crypto-assets in their accounts. On the MEW platform, the users create their own password as a second layer of security beside a private key.
Although the interface of MyEtherWallet is not that much user friendly and is hard to use, however, MEW is the best choice of Ethereum based crypto-enthusiasts. Various reports, tutorials, and video clips are available on how to use MEW.
MyEtherWallet has the flexibility of easy integration with other crypto wallets including Trezor and Metamask etc. MEW tries its best to secure and safeguard the users’ digital assets and has entirely put the crypto-management responsibility on users.
Some of the key features of MyEtherWallet are,
Hardware wallet Support
MyEtherWallett provides hardware wallet support (to store cryptocurrencies) like Ledger, Trezor, etc.
MEW has officially launched an app that brings Ethereum to iOS and Android smartphones. MEW enables users to completely control their crypto-assets.
MyEtherWallett provides effective customer support and helps center.
MyEtherWallett offers a set of FAQs to educate crypto users.