If you want to buy, sell or trade Ether you’ll require a digital wallet to complete the transactions.
Without the help of digital wallet, the process cannot be completed and there is no alternative way to do that.
There are a number of wallets which can help you carry out the transactions using Ether.
Some of them are,
- Paper Wallet.
- Android Ethereum wallet.
- iOS Ethereum wallet.
- Ethereum hardware wallet.
- Windows Ethereum wallet.
- Online Ethereum wallet etc.
And my Ethereum wallet is one among them.
The actual name of my Ethereum wallet is myetherwallet.
What is my Ethereum wallet (myetherwallet)
My Ethereum wallet is an online digital wallet to store, sell, buy or trade your Ethereum.
When you buy Ethereum or if someone sends you Ethereum, you can store the Ether in your my Ethereum wallet.
The wallet can also be used to send your ether to other users.
Or you can also exchange your respective country currency to get some Ether.
Apart from just being a digital wallet, my Ethereum wallet also provides a few features for trading Ethereum.
This wallet can also generate paper wallet for you to safely store your Ethereum.
If you want to learn more about paper wallet then visit the link which I have mentioned at the beginning of this article.
How to use my Ethereum wallet (myetherwallet)
To start using this wallet just follow the below steps.
- Visit myetherwallet official website.
- You’ll see an option to create a new wallet, Enter your password in the blank field, and make sure the password is strong.
- Now click on the button “download Keystone file”.
- Click continue and proceed.
- You will be given a private key. Make sure to save it somewhere safe. Without the key, you cannot login to your wallet. And if you lose it, you’ll lose your wallet too.
- Now click on the “save your address” button.
- You will be shown a few options to unlock your wallet. Choose “Private key” from the options and paste your private key in the empty field and click “unlock”.
- Now navigate to “send ether and tokens” from the top menu. Enter your private key and continue.
- After completing the process, you’ll see a message saying “wallet successfully decrypted”.
- In the “to address” field, you’ll see your Ether address. That’s the address you’ll use to receive Ether.
That’s it, you’ve successfully created your my Ethereum wallet account.
Myetherwallet is an online web-based wallet.
There are different wallets for almost all operating systems out there.
If you want a wallet for your phone or a computer then you can download it, install it and use them without having to visit your web browser.
At the beginning of this article, there are links to other wallets to help you out with.
Also, remember if you wish to continue with my Ethereum wallet.
Then make sure you save your private key and your password somewhere safe.
If you lose them, then you won’t be able to access your account or even generate a new private key and password for your existing wallet.
If you wish to know anything more about Ethereum then, feel free to let me know.