Backing up your wallet can save you a lot of turmoil and strife. Accidents happen – whether it’s a broken phone, lost computer, or a potential scare. Backing up your cryptocurrency wallets private keys can make a potential crypto-catastrophe or major issue into a minor problem that can be more easily fixed, and without the loss of your cryptocurrency.
Jeremy, from our ICO or NO series, ran into this issue earlier this week. But his Jaxx Wallet was backed up. This saved his wallet’s funds and gave him some peace of mind.
In this video, he goes over how to back up your private key from your cryptocurrency wallet, so that way you don’t have the same issue. (He goes through Jaxx Wallet, Ark Wallet, and MyEtherWallet.)
In this video we go over some of the most commonly asked questions about one of our favorite cryptocurrency wallets, MyEtherWallet, or MEW. Ether is a separate unit from gas, which is used to power the Ethereum Virtual Machine. It is basically the unit that powers Ethereum’s engine. One of the most common mistakes when using MEW is that people forget that a small amount of Ether is required in order to pay for the gas needed to complete the transaction.
Ether is NEEDED to send ERC 20 tokens via MyEtherWallet!
Don’t forget to check out our demo and review of MEW here!
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In this video, we’ll be going over all the features offered by MyEtherWallet. MyEtherWallet (MEW) is a web interface that generates wallets for storing your cryptocurrency. It is compatible with multiple wallet types (see below), and is a web based system that allows you to create a wallet and send your crypto to it. This wallet is for Ether and ERC20 tokens (read more about ERC20 here and here).
MEW is not an online wallet/web wallet. It is an interface to create wallets… They do not store your keys, and as their site says:
“You are responsible for your security.”