Myetherwallet Features

Myetherwallet is an Ethereum based wallet that is opensource and been in operation for five years. Developers tend to push towards Myetherwallet rather than traditional wallets due to the flexibility in decentralized application building. The interphase on Myetherwallet is straightforward, which allows anyone of any crypto level to sign up and start trading within minutes. It is never recommended that you hold coins on an exchange, so if you have Ethereum or ERC-20 tokens, then Myetherwallet might be for you.
If you have any questions, feel free to ask them here, and we will be more than happy to help assist you. If you run into any errors while signing up for Myetherwallet, then you will need to contact the support team for help outside of everyday issues.

Introduction

Today we will be looking at the crypto wallet Myetherwallet and will be discussing the pros and cons to the wallet. Myetherwallet is a hot wallet that gives you full control over your private keys, which makes you verifiable own the crypto and puts you in complete control of your finances.

Features

Easy UI

Myetherwallet was built so that you can access it within seconds and start transferring cryptocurrency. Regardless of if you’re a veteran or just stumbled across crypto today, you will be able to start transacting within minutes.

Custom fees

Myetherwallet will give recommended gas levels based on the market, but you can set custom fees for your transaction. This is especially important when you are sending money to an exchange.

Unlimited ERC-20 Tokens

You can transact with any coin that is on the Ethereum network and can add tokens to your account by merely adding the contract address, token symbol, and decimals.

Built in Exchange

If you click on the “Swap” tab, you can transact with a live exchange. If you are looking to exchange your Ethereum for Bitcoin, you can do so within seconds.

Hardware compatible

If you are looking for the ultimate security, you can use your Trezor or Ledger device on MEW.

Cons

Every crypto platform will experience downtime due to hackers since transactions are irreversible when they are confirmed on the blockchain. However, Myetherwallet has been targeted especially hard since it’s a hot online wallet. If you’re using a hardware device, then you won’t have much to worry about since your private keys don’t leave your device and are store locally. However, if you are using a Keystone file or your direct private key, then you could be susceptible to phishing attempts and exploits.

Conclusions

MEW is a great wallet for anyone interested in Ethereum because it has robust technology that will allow you to do everything you want in one convenient location. There is no need to have multiple platforms because Myetherwallet will enable you to send/receive and even exchange your cryptocurrency within a click of a button.
Always make sure to keep personal security with cryptocurrency even if you have the hardware you will still need to follow strict precautions due to the irreversible nature of the blockchain.