Ether is NEEDED to send ERC-20 tokens via 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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MyEtherWallet (MEW) Demo

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.”