Wednesday, February 7, 2018

How to get MyEtherWallet for ICO, airdrops, bounty free tokens

To participate in ICOs, to get free airdrops or bounty of ICO coins, you need ETH (which can be bought with USD) and an exchange wallet for them to deposit the coins.
You would need a ERC-20 token friendly exchange wallet - MyEtherWallet

What is MyEtherWallet ERC20?

Think of MyEtherWallet or MEW as a digital wallet on the blockchain where you holding the private key is the only one able to peer into your digital wallet and take coins away.
The public address is the address given to other people to deposit coins for you.
In other ways, the Private Key is like an ATM Card. The Public Address is like a bank account number.

Create a ERC20 MyEtherWallet for ICO and airdrops

Step 1 Create a password for MEW

Please visit
Please check the URL on your browser, make sure it is https:// and that at the address bar you see a LOCK symbol and the name MYETHERWALLET LLC [US]
This is to prevent malicious hackers bringing you to phishing scam site to steal your Private Key to steal your wallet.

 You will see this screen, create your password and continue

Step 2 - Download a keystore file, it is like a key to your safe

Once your password is set, it will ask you download a KEYSTORE file.
Keep the file safely.

As noted, the keystore CANNOT be recovered if you lose it. Secure it like a million bucks.
Save it, you do not need to open it for now (unless in Step 5, you using this to access your wallet public address)

Once you press "I understand. Continue." you will be lead to a next screen where your private key is shown.

Step 3 - Generate and Save your Private key to MEW

SAVE YOUR PRIVATE KEY. It is your key to the safe, without it, all your wealth in there would be gone.

For obvious reasons, my private key is censored with a blue bar. Remember to use COPY and paste function rather than typing it out. Copy and Paste has lesser chance of error than manually writing / typing it out.
You may want to click Print Paper Wallet out. I will print it out via PDF and keep a copy for reference.
Once done, Go ahead and "Save Your Address"

Step 4 - Unlock your MEW to get a Public Address for others to deposit

This is the most important part. To access your wallet, you would need a key to unlock.
To be safe, you can use a ledger wallet (2nd option), buy a ledger wallet (which is a hardware token) from a reputable seller (such as Ledger Wallet
This is one of the best secured method.

Use the instructions they lay out to use only your hardware to unlock your wallet.

If you currently do not have a hardware ledger wallet, you can choose "Private Key"
Private key is the least safe method, as someone can look at your laptop, or hack your laptop or phish you with a fake website, but it is the most convenient if you are careful enough to check and ensure your computer is secured.

Step 5 for using Private Key to unlock wallet

As you can see, MyEtherWallet will asked you to be safe and ensure the url is correct, and do not click on any website link sent via email or programs. Stick to manually typing or bookmarked sites. Do remember to check https:// and MYETHERWALLET LLC in ur.
Do note for spelling as hackers may trick with a similar spelling with 1 or 2 wrong character registered domains or LLC.

In the box there, enter your private key that was generated for you in STEP 3.
When you enter your private key, and press the UNLOCK button, your public address would be displayed.
Scroll down for the whole public address and information.

This PUBLIC ADDRESS is the one you give to ICO companies and airdrops etc for them to deposit coins to you. This is public, you give to people for them to deposit.
For this wallet, I have done a 0.1 ETH deposit so you can see it in the example.
Do note, do NOT give out your private key! Private Key access allows the user to transfer away all the coins inside! Private key provides full access to the safe of your wealth.

And there you go, you would be able to access your wallet, which should have has 0 ETH and 0 everything.
For all airdrops, ICO bounty, deposits of ETH or coins, please give them the PUBLIC ADDRESS and keep the Private Key to yourself.

0xdb8826f6dF14d8AAc97f29598502F4e9e805128C is my wallet public address, this is where people and companies deposit coins for me on the blockchain.

Feel free to donate some ETH or other coins to me if you find this useful! =)

No comments:

Related Posts Plugin for WordPress, Blogger...