Just trying to do some tutorial for newbie on how to use myetherwallet

1. First of all go to the webpage https://www.myetherwaller.com . Make sure the webpage is legitimate by checking the padlock icon on the address. Always type in the address in the browser rather than using links from the internet.

1. Click on "Send Ether & Tokens" at the top of the page. Select "Kestore/ JSON File" . Click on “select wallet file” and choose the UTC/JSON File for your account. Type in the password and click “unlock”. If the password is correct, the user can proceed to the next page. User can also choose to use “private key” to access the account.

2. At this page, user will be able to see their account ether balance and token available. To send ETH to another address, enter the destination address, amount to send and set the gas limit.
   

3. When we send ether or tokens, the user needs to pay a fee to the miners for transaction. There are two important parameter for calculating the transaction fee which is the gas limit and gas price. The gas limit is the maximum amount of gas the user is willing to spend. The gas price is the value in Gwei the user sets, unit for Gas price is Gwei ( 1x10-8 ).

4. Set the gas price at the top right corner of the MEW page. Lowest setting in MEW is 1 Gwei, sometimes during busy periods where there is an ongoing ICO, the gas price might goes up to 20-30 GWei or more.
   

5. Press “generate transaction” and program will generate the codes for the transaction. Press “send transaction” at the bottom to proceed.
   

6. This the final confirmation page before the transaction is send to the network. Check that the destination address, amount, gas limit and gas price is correct. Press “Yes, I am sure! Make transaction” to send out the transaction.
   

7. User will see a green pop-up at the bottom of your screen with the transaction hash. Wait for around 30sec, Press “Verify transaction” to check the transaction in www.etherscan.io
   

8. User can also press “Check TX Status” to check the status of the transaction in MEW. If it says “Pending Transaction Found” then it may be due low gas price use and transaction is currently pending (waiting to be mined). Wait for sometime to check again or user may need to increase the gas price for faster transaction. More info here
   https://kb.myetherwallet.com/transactions/check-status-of-ethereum-transaction.html

9. Copy the transaction hash and keep it for future reference. To check result of transaction, copy and paste the transaction hash in https://etherscan.io/ . If user forgot the transaction hash, they can always query their own address in etherscan for all transactions related to the address. See below for sample result from etherscan.io
   

Concept of gas price & gas limit

1. Think of the gas price and gas limit concept as if you are taking a taxi, before the taxi ride, you let the driver know that the maximum distance (gas limit) you are willing to go ex :10 km and rate (gas price) you will pay $1/km. If the ride is only 5km, you pay $5 to the taxi driver (ie 5km x 1/km = $5) .

2. So in this case the maximum distance is the gas limit and the gas price is the rate you willing to spend. Example if we set gas limit of 21,000 and a gas price of 1 Gwei, the maximum amount you pay in Ether is :
   Tx Fee = 21,000 x 1 Gwei = 21000 Gwei = 21000 x 10e-8 = 0.0002 ETH
   If we change gas price to 2 Gwei
   Tx Fee = 21,000 x 2 Gwei = 42000 Gwei = 42000 x 10e-8 = 0.00042 ETH

3. For normal transfer of ether to another address is 21,000.
   If you are sending ETH to another smart contract eg: ICO, the gas limit will be higher ex:200,000 . The reason is that there are more instruction for the smart contracts to run. Normally the ICO page will have the gas limit suggestion, ex 250,000 or 400,000
   If the gas limit is set to 100,000 but during transaction it only use up to 40,000 gas, the remaining gas 60,000 will not be calculated as the transaction fee.

4. If gas limit is set too low, ex if transaction requires 200,000 gas limit but user only put a gas limit of 20,000 . This will result in an “out of gas” error and the transaction will fail. The failed tx fee will be deducted from the user account. Always check the ICO page for gas limit recommendation. User can also check previous transaction record to the destination address in etherscan.io to see average gas limit use by other user as reference.

5. The higher the gas price, the faster the transaction will get through. Like the taxi analogy, the customer that offers a rm10/km will get picked up faster compare to customer that offers rm5/km. Always check the gas price before setting before committing the transaction. https://ethgasstation.info

6. Look for the “Gas Price Std” which is the standard gas price for a typical transaction . In the example below, choose a gas price of 9 Gwei which gives you a average transfer time of around 62second. Choosing a too low gas price might cause your transaction to be ignored as miners will choose those transaction with high gas price first. It may take up to one day for the transaction to go through if we choose a too low gas price.
   

Links to my previous article on how to create New Wallet in MEW