What is a Trust Wallet and how to create an account

Electronic money differs from fiat money in many ways, but like any payment method, cryptocurrencies will need a wallet to store the money.

There are desktop software built for this process, online multi-currency systems, smartphone apps, and local wallets like Trezor or Ledger.

But PC applications take up a lot of space due to the need to download the blockchain for the chosen cryptocurrency. Therefore many virtual asset owners prefer to use online services such as MyEtherWallet (MEW). Well what is MyEtherWallet let 's find out

What is a myether wallet?

MEW is a network resource for the popular Ethereum cryptocurrency and ERC-20 tokens. In addition to the storage and transaction functions, the wallet provides the ability to exchange ETH with another cryptocurrency, execute smart contracts, and send messages to other MEW users. As the service is not an online bank that accepts deposits from clients, rather all your money is in the ETH blockchain, with which the MyEtherWallet is integrated .

Official Website

Options included in MyEtherWallet.

1. Buying ether using a bank card.
2. Exchange Ether and ERC-20 tokens directly on the wallet interface.
3. ENS Manager for domain registration and management.
4. Activation of coin stakes for the updated Ethereum 2.0 network. The minimum deposit is 32 ETH, and the affiliation period is from three months to two years.
5. Contracting to interact with smart contracts that are already running and implement new contracts.

Whereas, subscribing to ENS will allow you to give your wallet a suitable address for senders, for example, this address: cryptogu.eth. This will make it easier to transfer money to your Ministry of Electricity and Water, but you will need to obtain a domain by bidding on a two-day auction. And even if you win the auction, the domain will not be yours forever.

Available ways to use a wallet

Mobile application - install a mobile application on a smartphone and work with the web interface through it;

By hardware wallet - connect to the web interface using a secure device;

Software - Generate a mnemonic phrase or keystore file.

How to create a MyEtherWallet mobile wallet 

Just go to Google Play or the App Store and download the MEWconnect utility to your tablet or smartphone.

To create a wallet, enter the official MyEtherWallet website, and click Create New Wallet. And complete the required data, and after completion, you must register it on the assistant program on the phone 

Important! When creating a new wallet, an initial phrase of 24 words will be generated. Write it down, confirm saving, and get a passcode.

To perform outgoing transactions, you will need to connect to MEW on your computer by scanning the QR code. The transfer is done on a computer and confirmed on a smartphone. To open access, go to the Access My Wallet tab and select MEW Wallet.

Sync MyEtherWallet on devices 

To sync a wallet you must:

1. Connect the wallet to the computer and open this tab .
2. Select by hardware wallet and give MEW access to public keys in your hardware vault.
3. Export the keys and enter the PIN code in your physical wallet.
4. Select the primary network in the MEW web interface and select the public address from the list.
5. Got ready, you can now work with MEW through hardware security.

Login via app

This wallet is installed as an extension on Google Chrome, Yandex or any other supported browser. And when creating a new account, you must save the commemorative phrase and create a password.

1. Launch Metamask and open the MEW interface in the same browser.
2. Choose how the Broser Extension is connected to the MEW.
3. Confirm wallet synchronization in the Metamask app.
4. You can now use the application account in the MyEtherWallet interface.

How to transfer MyEtherWallet tokens to the exchange

There is nothing easier than transferring tokens from MyEtherWallet to a cryptocurrency exchange . And the method is as follows

We enter the address in the wallet, choose the type of payment method, and send the token transfer from MyEtherWallet. Then send the transaction to the sender.

Disclaimer You must have enough ETH in your balance to pay for the transfer.

Note : Be sure to verify the MyEtherWallet transaction address before making the transfer. Because MEW is just an interface to easily manage your account numbers, payment assets and transfers on the Ethereum blockchain network. No one has access to the MyEtherWallet you created and cannot return or cancel any transaction transaction.

Common mistakes when using 

To avoid losing your cryptocurrency after creating and logging in to MyEtherWallet , try not to:

1. Do not enter the shipping address manually, you have to copy and paste it
2. Pay attention to uppercase and lowercase letters. Where the Ethereum address contains lowercase and uppercase
3. Never enter the key file into your myEtherWallet manually.
4. Before sending the full amount, send a small trial transaction to make sure everything is going well and the coins arrive at the address you want.
5. it's very important! Create a backup of the private key and save it.
6. Do not send the private key via email.
7. Do not post the private key on social networks (Vk, Twitter, Facebook).
8. Do not store your private key in Dropbox or any other cloud storage.
9. From the data entered before the transactions were made.