In this guide, we will show you how to set up an Ethereum Cold Storage Wallet through MyEtherWallet.
MyEtherWallet Supported Coins:
Before we start, always check the link your on before unlocking your wallet.
Download any one of these extensions for your protection.
“Adds links to strings that look like Ethereum addresses to your favorite blockchain explorer.”
“This extension protects you from phishing sites. The MetaCert shield turns green when you visit certified Cryptocurrency websites.”
Navigate to the MyEtherWallet official GitHub https://github.com/kvhnuke/etherwallet and look for “Download the Latest Release” then download and save it on your computer.
You will be redirected to another page. Make sure you choose etherwallet.
etherwallet-vX.X.X.X.zip is the smaller package containing the gh-pages branch aka MyEtherWallet.com
After downloading right click on the zip archive then select Extract To.
Once the ZIP is extracted make sure you completely disconnect the internet on your computer.
Navigate to the etherwallet folder and look for index.html file then open it.
You will notice that we opened the MyEtherwallet.com page but in offline mode.
Then enter a strong password where it says Create New Wallet.
Make sure your password is about 5-12 characters and contains upper-case, numbers, symbols.
Then click on Create New Wallet.
On the next page make sure you Download Keystore file (UTC / JSON) and save your UTC/JSON File in a safe place.
When you are ready, click on I understand. Continue
If you have a printer I would HIGHLY RECOMMEND PRINTING the private key or you can copy and paste into a new text document. Please be sure to save your Private Key in a highly secured place. If you were to lose your private key, you will lose your funds.
Remember, owning a cryptocurrency wallet means you are your own bank.
You will have the option of printing your MyEtherWallet Paper Wallet. It’s highly recommended that you do but if you are not ready, you will be able to print your paper wallet from your dashboard.
Once you are ready to move on click on Save your Address.
Right now we need to unlock our wallet to be able to see our address. To do that from the options select Private Key and copy and paste the private key that we have saved from the previous step then click UNLOCK.
If you would like to see more MyEtherWallet Logins, please click on this link to view MyEtherWallet Guide.
Basic MyEtherWallet Dashboard
Once we’ve done that you will notice that we have successfully unlocked our wallet.
Your Address and Account Address are your MyEtherWallet Public Keys. You will use this in order to receive or send coins.
Here you will have an option to Print your Paper Wallet. If you haven’t done so, we highly recommend you do. Print and save your MyEtherWallet Paper Wallet SAFE.
Here’s an example of what your MyEtherWallet Paper Wallet will look like. Be sure to keep this safe.
If we want someone to send us coins give them the address from the step we’ve explained earlier on how to find it (i.e we should have already saved on our desktop).
Since we’ve made an offline wallet we can now close the page that we’ve been accessing in offline mode and we can turn on our internet back.
How to Check MyEtherWallet Transactions
To keep track of all the transactions click on top where it says Check TX Status. There you can check all the transactions whether by simply typing the wallet address of the person you want to send the money or to your wallet address.
Or you can keep track of all the transactions by visiting the following website https://ethplorer.io/ and all we need to do is just copy and paste the address into the box and click on Ethplore.
How to Send Ether & Other Tokens on MyEtherWallet
Visit https://www.myetherwallet.com/ and on the right side of the page look for Mist / Geth / Parity: click on Use your Keystore File ( UTC / JSON) to access your account.
From the menu make sure you select Keystore File (UTC / JSON) and upload the file that we have downloaded while making our wallet offline, make sure you type the password and click Unlock.
Where it says To Address make sure you type the address of the person that you want to send money, Amount to Send, type the amount of coins you want to send and leave Gas limit to default then click on Generate transaction.
Congratulations on Your New Wallet!
If you need assistance please check out the support site!
If you have more questions regarding their website visit their knowledge base by clicking HERE