Are you new to cryptocurrency and want to learn how to use MyEtherWallet (MEW)? If so, this guide is for you. In this article, we will cover the basics of what MEW is, how it works, and how to get started with it.

What is MyEtherWallet?

MyEtherWallet (MEW) is a free open-source Ethereum wallet that can be used to store Ether (ETH) and other ERC20 tokens such as Basic Attention Token (BAT), Chainlink (LINK) and more. It can also be used to interact with decentralized applications (dApps). The wallet interface provides users with an easy way of sending, receiving, and managing their cryptocurrency funds.

How Does MyEtherWallet Work?

When creating a wallet on MEW, users are provided with two distinct pieces of information for accessing their funds - a private key and a 12-word mnemonic phrase which functions as a backup in case the user loses their private key. The private key should be stored securely in an offline location as it cannot be retrieved if lost or forgotten. It’s also important that users don’t share their private key with anyone else as doing so would give them access to the user’s funds.

The mnemonic phrase is a sequence of 12 words that are randomly generated by MEW when the wallet is created. This phrase should also be stored securely in an offline location because anyone who has access to it will have access to the user’s funds. If the user ever needs to restore their wallet they can do so using this phrase.

Getting Started With MyEtherWallet

To get started using MEW all you need is a computer or mobile device that has access to the internet. Once you have your device set up, visit MyEtherWallet/access-my-wallet and click “Create New Wallet” at the bottom of the page. You will then be prompted to enter your email address, create a password for your account and confirm your password before generating your wallet address and private key/mnemonic phrase. Be sure to save these keys in an offline location before transferring any funds into your wallet! Once you have saved these details you are now ready to start trading ETH or other ERC20 tokens! All you need to do now is find an exchange where you can buy ETH or another token of choice before transferring them into your MEW wallet address via Coinbase or another platform of choice!

Conclusion:

MyEtherWallet provides a secure environment for storing Ether (ETH) and other ERC20 tokens such as Basic Attention Token (BAT), Chainlink (LINK), etc., but it does require some basic knowledge about cryptocurrency wallets before getting started. To ensure security, users must always keep their private key secure by saving it in an offline location like a USB drive or paper document; users must also remember not to share this information with anyone else as it would give them access to your funds! Additionally, users should never forget their mnemonic phrase which serves as a backup in case they ever lose access to their wallet due to forgetting their private key or other unforeseen circumstances occurring! With these tips in mind, getting started with MyEtherWallet should be quite straightforward! Intended Audience: Cryptocurrency beginners interested in learning about MEW wallets