Moonforum-banner-New-Nov

Author Topic: Cryptoducation: Classroom 3, How to Create Ethereum Wallet  (Read 153 times)

Offline lavskrypto

  • Senior Staff
  • Jr Hero
  • *
  • Staff - moderator
  • ***
  • Posts: 240
  • Karma: 4
  • Referrals: 8
Cryptoducation: Classroom 3, How to Create Ethereum Wallet
« on: February 26, 2019, 08:20:47 AM »
This is as an expansion of Lavskrypto cryptoducation thread which can be located here: https://cryptotalksworld.org/index.php?topic=14857.msg53887#msg53887

In cryptocurrencies, we receive our monies or tokens/coins into our wallets. Wallets serve as a Bank account where we receive our monies into and when you want to spend something you just transfer from one wallet to the other. One of the largely used wallet is the Ethereum wallet. Thus is so because many of the coins around were built on the Ethereum Blockchain and so they utilize Ethereum wallets to keep hold of their coins.

Even with the Ethereum tokens, we have one common type called the ERC20 tokens and they are the most utilised out of the whole Ethereum Network. So whenever you're inputting a wallet address, they mostly ask you to add an ERC20 supporting wallet. There are many wallets in the space supporting this but two most largely used are MyEtherWallet and Metamask wallets.

For the purpose of this study, we'll utilize MyEtherWallet(MEW).
1. First login to myetherwallet.com. You should have an interface as below... please always make sure the URL is complete and same as official URL so you don't get phished.



2. Then the "get a new wallet" page pops up which should also show as below


3. Select the middle option "By Keystore File"


*Note* There are other options (app, and phrase) but I have been using this one and it's quite okay... they'll say"not recommended " tho that's what many of us use
the first option (the app) is something new and I'm not conversant with it yet so I can't recommend that one... I'm about to navigate that app....anyways you can also do your little study and select the one you deem suitable👍🏻👌🏽

4. After tapping on that, you will be asked to put in your password

*Caution:* put in a very strong password combo and also write it down at a place & in a way you'll never forget because you can never be able to retrieve it when it's forgotten and your wallet+ money will be gone forever

5. Then you'll be taken to a new page as shown below


Please Kindly wait a while for KeyStore file to load for you to download

*Caution* Keep this keystore file at a very safe portal/ i mean back it up....Google cloud storage "may" help and also on a pen drive/ laptops

because if it's on your phone only and you lose it, that's it, your wallet is gone... keep it safe by backing it up so that you can always retrieve it

and the  more reason we use this KeyStore method is that even if someone gets hold of it, the person will still need your password to login😉but if you don't back it up and you lose it, you can't recover it..your wallet+ your money is gone/frozen forever😬

Crypto 101 Not your keys, not your money😉

6. After download success you'll find this new page and you'll be good to go


Tap on "access wallet" to login

Also, the next time you want to login, first visit the website and tap on "access wallet"

7. You'll be asked to select the portal of login... select the third/last option "SOFTWARE"


for those who choose other options, you'll select the appropriate login portal as indicated

8. Select "Keystore File" on the new page

Go to your file manager and select your Keystore file that you downloaded... it starts with name- UTC-2019-22.............

9. Enter your password

and then tap on access wallet

please wait for a while for MyEtherWallet to load your wallet

10. A successful login will give you this interface


11. You can now copy your wallet address (this is what you'll always use to receive payments) by tapping the "copy icon" just beside the address...shown in the picture below.


You can now receive all your Ethereum and ERC20 supported tokens/coins with that address

Comment/Reply here with questions if you have any

Offline boysnoel12

  • Karma Associate
  • Full Member
  • *****
  • Posts: 86
  • Karma: 2
  • Fight The Scam!
  • Referrals: 0
Re: Cryptoducation: Classroom 3, How to Create Ethereum Wallet
« Reply #1 on: March 19, 2019, 01:35:20 AM »
I don't have questions but I have something to add. When you go to myetherwallet you don't have to log in when creating a wallet imstead of opening myetherwallet account, make sure to read the URL to avoid get phished because there are websites that look like as the original but when you carefully check you can see something from the url just like this example = myétherwallet.com which is hard to see when in small letters.

 

Donate to CTW Forum