Important MyEtherWallet News!
Co-Founder of MyEtherWallet Breaks from Project, Forks Software to Create My Crypto
Taylor Monahan, the co-founder of MyEtherWallet (MEW), has left her baby to begin work on a new venture. The nascent project, dubbed MyCrypto, is similar to the original, so much so that it’s actually a software fork of the MyEtherWallet code.
Monahan details the developments in an impassioned Medium post, wherein she hashes over MEW’s origins, its meteoric rise, and her newly-announced departure.
“2017 saw the end of the side-project,” she admits, priming the introduction of her new project. “2018 will ensure we have a solid foundation for the product, the company, and the team. It is this solid foundation that ensures our long-term stability and success, in 2018 and beyond.”
To foster this growth going forward, Monahan looks towards a “New Beginning” to establish a sturdy foundation for the future of her product. And this new beginning comes in the form of MyCrypto, an Ethereum-powered wallet that functions like MyEtherWallet, but “is designed with next-level scaling in mind from the beginning,” according to its creator.
Hey all, don’t freak out but we’re no longer @myetherwallet. MEW still exists, but we’re now MyCrypto. 💙 Taylor’s Statement: https://t.co/ZEDAPdYgUa— MyEtherWallet.com (@myetherwallet) February 9, 2018
Monahan didn’t go into detail as to why she chose to split the wallet. After admitting she “was terrified — [is] terrified — at the potential harm this change will have on myself, the team, and/or the Ethereum community,” though, she claims that “the risks created by continuing down the road we were on are greater than the risks of splitting to a new brand, new company, new name, and new domain.”
What this Means For MEW Users
Kosala Hemachandra, MyEtherWallet’s co-founder, still has access to MEW’s Github, the wallet’s website domain, and its social media accounts, Monahan assures her readers. As such, if you use MyEtherWallet, not to worry–your funds are safe and it’s not going away. In the future, users will now simply have the choice to use either MyCrypto or MyEtherWallet.
In her post, Monahan indicates that MyCrypto will begin its beta testing in a few weeks. For the time being, it will continue to function on the forked code of the current version of MyEtherWallet until the team members “are confident in the stability & usability of the new codebase.”
During the transition, the MyCrypto team will continue to answer any questions they receive regarding MEW. However, the new project will sport the following new social media accounts:
- Twitter: https://twitter.com/mycrypto
- Medium: https://medium.com/@mycrypto
- Github: https://github.com/MyCryptoHQ
- Help & Support: https://support.mycrypto.com
- Reddit: https://www.reddit.com/r/MyCrypto
- Facebook: https://www.facebook.com/MyCryptoHQ
- Linkedin: https://www.linkedin.com/company/mycrypto
MyCrypto created a new Twitter handle after causing some confusion by merely updating MyEtherWallet’s own Twitter account late last night. We realize that this likely left many users nonplussed, but there’s no reason to fret. The service was not hacked, the fork has no ramifications for account balances, and both wallets are running smoothly as of today.
MyCrypto has not responded to CoinCentral for comment at this time.
How to Setup a MyEtherWallet Account
- How To Create MyEtherWallet
- How to Log into / Unlock MyEtherWallet
- How to log into MyEtherWallet with Keystore/JSON File
- How to log into MyEtherWallet with your Private Key
- Basic MyEtherWallet Dashboard
- How to Check MyEtherWallet Transactions
- How to Send Ether & Other Tokens on 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.”
How to Create MyEtherWallet Account
Let’s begin by heading to their official website https://www.myetherwallet.com/
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.
How to Log into / Unlock MyEtherWallet
Now that we have created a MyEtherWallet, it’s time to log in.
There are 8 ways for you to log in and one of them is to only view your balance. We will continue to update this page with all the ways to log in to MyEtherWallet, so please don’t forget to bookmark this page so you can come back later on.
How to log into MyEtherWallet with Keystore/JSON File
Select Keystore / JSON File, select the UTC File that we have downloaded on our computer, type the password below (in the box field) and at the end click on Unlock.
How to log into MyEtherWallet with your Private Key
Select Private Key, Paste your Private Key in the text box. Then Click on Unlock.
REMINDER: KEEP YOUR PRIVATE KEY SAFE! DO NOT NOT NOT NOT SHARE IT WITH ANYONE. Ask yourself this, would you give your car keys to a total stranger?
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.
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
To send coins click on Send Ether & Tokens
You will need to unlock your wallet. If you need help, please scroll up to How to Log into / Unlock MyEtherWallet.
After unlocking our wallet we need to type the address of the person that we want to send coins to, then type the amount of coins, leave Gas Limit to default and 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