MyEtherWallet (MEW) is an open-source, client-side interface allowing the end-users to interact directly with the Ethereum blockchain, without having to join a centralized exchange. Users can create own unique Ethereum wallet and receive a public address, and choose a method for access and recovery.
Apart from that, users can also connect to the Blockchain using the wallet of your choice. MEW operates like putting the Ethereum blockchain at your fingertips. It is providing the most dedicated and most secure, most intuitive, and dare we say prettiest way to manage ETH and ERC20 tokens.
MEW is featured with various benefits listed above, but it has also few limitations like it is vulnerable to phishing attacks and MEW users doesn’t own the right of Cryptocurrency wallet. But the best advantage is users can create won wallet and they done need any cryptocurrency exchange platform.
With MEW you can create the wallet through different ways. You can either create the wallet through browser extension or through mobile app. The process of creating wallet on MEW is very simple and trouble-free, you just need to follow the right instructions. After creating the wallet you can hold your coins, you need to be very careful after creating the wallet.
However, while creating the MEW, you need to keep some precautions like never share this information with anyone. This information gives complete and permanent access to your wallet. Do not keep this information on a device connected to the internet. As hackers can and will find it in your hard drive. Choose strong passwords and write everything down, in multiple locations, as MEW will not help you to recover this information for you, instead you have to call MyEtherWallet customer support number.
MyEtherWallet (MEW) supports ETH and ERC20 tokens on our main ETH networks. You can access the full list of supported networks and switch between them through our Network/Node list, which can be found on your Wallet Overview page after accessing your wallet.
While using the MEW you can use swap function to swap between BTC and ETH, thanks to our partner Bity, but it is not providing a support for BTC. It is just offering the option to swap it. This requires you have a BTC wallet, to receive the funds.
Your ETH & tokens are on the Ethereum blockchain, regardless of what service you use to access them. When you move them, you are sending them from one address on the blockchain to another. These are lines of code. And your wallet file, hardware wallet, the interface you interact with, or your private key do not have funds in them. These are ways of access, which give you the ability to prove ownership over digital coins that are on the blockchain itself.
However, If you use a client-side tool like MyEtherWallet or Mist, Metamask, Exodus, or Jaxx, then you have the private key (or a similar method of access), and you control your funds and your key. You do not rely on Coinbase or Gemini sending your funds from their account to yours.
Here the upside is that you, and only you, control your keys. An exchange getting hacked won’t affect you. While the downside is that you, and only you, control your keys. No one else has them, nor can they recover them, should they be lost and need to call at MyEtherWallet support number for help.
Here at MyEtherWallet if you do lose your private key or wallet file and password, you cannot prove ownership of an account, and you permanently lose access to your funds.
While if you are using an exchange like Coinbase, Gemini, Kraken, Polonix, Bittrex, then you have an account with that company, and they hold your ETH and your keys for you. They have their own account on the Blockchain with all their and their customers’ funds in it. Then you have a username / password with them, on their servers, and they keep track of how much ETH they “owe” you.
This allows you to have the more traditional username / password account dynamic and do things like reset your password if you forget it, change your password if your password is compromised, and turn on 2FA. However, it also means that if the exchange loses ETH, it’s your ETH that is lost.
If you are using the MyEtherWallet you can face different types of technical issues like ledger error or network error and insufficient error etc. And depending on the user device and MEW accessibility users face different types of technical issues at the time of use. Dealing with such issues is not an easy task, and you have to take help of experts who can only help you remotely with such issues.
For an example if you are getting an error message saying ‘Window Blocked’ when using a Trezor, Ledger, or MetaMask to confirm a transaction, this error comes because you are blocking pop-ups with the browser. And to fix this issue, you can simply ‘Allow Pop-Ups’ for MyEtherWallet.com. But for various complex issues you need to take help of experts who have knowledge and experience in solving the technical problems associated with such virtual wallets or cryptocurrency wallet.
When you face any kind of technical issue or see the error you can call at MyEtherWallet customer support number where a team of certified technician are available round-the-clock to solve the technical problems with complete safety and precautions. These experts will understand your problem and may also take your system on remote to check the MEW issue for right solution.