Cryptocurrency

How to create Ethereum wallet address using MyEtherWallet (MEW)?

There are more than 1000 different Crypto-Currencies are in circulation in the market but only a few are leading the way. By the look of the race, it looks like a two horse’s game lead by Bitcoin and Ethereum.

As on 10th Nov 2017, Ethereum (Ether) has a market cap of US $30.46 billion and counting as per market cap tracker – Coin Market Cap, just catching up with Bitcoin (BTC) which has about US $118.51 billion market cap. Both currencies hold more than 65% of the total Crypto-Currency market cap.

So, what is Ethereum?

Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.

In another word, we can call Ethereum a distributed public blockchain network.

 

Why is Ethereum better?

Because Ethereum runs on a blockchain, it promises…

  • Immutability (where no one can make any changes)
  • Corruption & temper proof (hard to do any censorship)
  • Secure (applications are protected against hacking attacks and fraud)
  • Zero downtime (it can never be turned off)

Do all these excite you?

Yes. That’s great then where do I start?

The first thing, first: if you want to accept, send or store Ether then you need a wallet.

In this article, I will cover how to to create a wallet using MEW – MyEtherWallet

 

Step-1: Go to https://www.myetherwallet.com

Go to MEW website using HTTPS on a computer and make sure to check certificate MYETHERWALLET LLC [US] on the browser address bar.

Step-2: Go to the “New Wallet” Tab

 

Step-3: Provide a Strong Password

Your password will be used to access your wallet.

  1. make sure to create a strong password using upper/lower case letters and also numbers and symbols
  2. You can’t lose this password. If you lose the password then you will lose all Ethers stored in your account.

Now click on “Create New Wallet” button.

Step-4: Save your keystore file.

Follow the on screen instruction to download and save your “keystore” file.

Just remember below…

  • Do not lose it! It cannot be recovered if you lose it.
  • Do not share it! Your funds will be stolen if you use this file on a malicious/phishing site.

Make a backup! Secure it like the millions of dollars it may one day be worth.

 

Step-5: Save Your Private Key

It is important that you save your private key.

Step 6: Unlock Your Wallet to View the Public Address

Follow the on screen instructions to unlock your wallet and get your public address:

Select the “Keystore File (UTC / JSON)” and the keystore file you’ve downloaded in the previous step:

Select the file, enter the password and unlock your wallet.

 

Step-7: Copy your Public Address

On this screen, you will be able to view your Ethereum public address under “Your Address” label.

Viola. Now you have a Ethereum Wallet address so you can store, accept and send Ether.

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