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Writer's pictureMathew Philips

Securely Storing Your Cryptocurrency with MyEtherWallet



If you’re new to cryptocurrency and blockchain technology, setting up a digital wallet can be a daunting task. Fortunately, there are many tools available to make it easier. One of the most popular—and secure—wallets is MyEtherWallet (MEW). Here’s your step-by-step guide on how to set up your Login to MyEtherWallet (Masuk ke MyEtherWallet) so you can securely store, send, and receive Ether or ERC20 tokens.


Create an Account at MyEtherWallet.com

The first step is to create an account at MyEtherWallet.com. You can do this by entering your email address, creating a password and confirming it. Once you have done this, you will receive an email with a link that will allow you to verify your account. Clicking the link will take you back to the MEW website, where you will be asked for more information about yourself such as name and address in order to complete the registration process.


Generate Your Wallet

Once your account is created, click on “Create New Wallet” from the main page and follow the instructions provided by MEW. First, you’ll need to choose an encryption phrase which will be used when signing transactions with your wallet later on. Make sure that this encryption phrase is secure and that no one else has access to it! Next, MEW will generate a keystore file which contains your private keys – keep this file safe and secure as it cannot be replaced if lost or stolen! Finally, write down the 12-word recovery phrase which was also generated during this process - this recovery phrase is what allows you access to your wallet if anything happens to your keystore file or encryption phrase.




Add Funds To Your Wallet

Now that your wallet has been generated, it’s time to add some funds! From the main page of MEW select “Send Ether & Tokens” under “Send & Receive” in order to access the interface where funds can be sent directly into your wallet address from another source (such as an exchange). You can also use ShapeShift here in order to exchange other cryptocurrencies such as Bitcoin into Ether. Once funds have been added successfully they should appear under “My Wallets” within 24 hours – please note that transactions may take longer depending on network congestion at any given time so patience is advised!


Secure Your Fund With Two-Factor Authentication (2FA)

Finally, it’s important for users who care about security of their funds in MEW wallets should enable two-factor authentication (2FA) for their accounts in order ensure additional protection against hackers and malicious actors trying gain access without permission. To do this simply select “Two Factor Authentication” from the main page of MEW website after logging in with user credentials then follow instructions provided there – once enabled 2FA requires users enter both username/password plus special code sent via SMS/email before being able grant access into user accounts respectively each time they attempt log into their wallets online or offline (e.g., MetaMask).


Conclusion:

MyEtherWallet provides users with an easy way store Ethereum cryptocurrency securely offline while still being able send/receive payments quickly online when needed – following above steps outlined should provide anyone interested setting up own MEW wallets peace mind knowing all necessary steps taken protect against potential hacks/theft while ensuring all transactions conducted through these wallets remain safe encrypted until ready spend accordingly! Overall setup process simple straightforward but always remember keep backup files private keys stored somewhere safe case something happens device storing them original place goes missing lost stolen etc . . . Happy trading everyone! :)

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