Ethereum Wallet: MyEtherWallet and MetaMask – How to Add Token To ETH Wallet

MyEtherWallet

What is MyEtherWallet (MEW)?

MyEtherWallet (abbreviated as MEW) is a web site that helps you connect directly to the ETH blockchain . This means that MEW does not store coin or your account, only intermediate tasks.

MEW also helps you establish connections with many different ETH networks such as Etherscan, Myetherapi … and helps you create ETH send / receive transactions on blockchain Ethereum.

How to Open ETH Wallet With MyEtherWallet

Step 1: Visit the MEW website at: https://www.myetherwallet.com/ . Note that there are many MEW spoofing sites that steal your ETH account. So bookmark the MEW website for direct access, not google search.

When you get to the website, click on the padlock icon in the address bar, check the name of the web registrar is true MYETHERWALLET LLC or not. If you do not have a padlock icon or do not have a registrar name, this may be a scam.

MyEtherWallet
MyEtherWallet

Step 2 : At the MEW interface, enter the password you want to create and then click Create New Wallet .

Step 3: Click on Download Keystore File , the browser will download a file to the machine. This is a very important file, you need to have it to access the account later. I click you understand. Continue . You can back up and restore this file to a USB Flash Drive to prevent it from being stolen.

Step 4 : Save the Private Key that you provided in a text file or on paper . Private Key is the key to access your wallet, do not send this key to anyone.So you have completed the steps to create an ETH wallet.

Access to MyEtherWallet ETH wallet

You visit the MEW homepage and click on View Info Info . There will be a lot of options but there are two common ways for you to access your ETH wallet.

Option 1

Select Keystore / JSON File . Click SELECT WALLET FILE and then select the file saved in Step 3 ofthe above. Enter the selected password in Step 1 of the above. Finish typing Enter .

Method 2

Select Private Key and enter the code provided in Step 4 of the above and Enter is the access point.

View your ETH account balance

In the right pane you can see the number of ETH holding. In the Token Balances section you can see all the tokens from incoming ICOs.

 

Send, receive money from your MyEtherWallet wallet

Get money

When accessing the wallet you will see the Your Address , which is also your Public Key . This code is the address so others can send you money. This is also the address you enter when participating in airdrop programs, bounty or Whitelist registration for the ICO.

Send money

At the homepage of MEW, you click the Send Ether & Tokens link .

Send Ether Tokens
Send Ether Tokens

To Address : the recipient’s address.

Amount to Send : The amount of ETH to send.

Gas Limit : By default, if you send investment projects ICO can change the Gas Limit according to the rules of that project.

Click Generate Transaction > Send Transaction .

Gui ETH
Gui ETH

The ETH is very cheap, only takes 0.00002 ETH (0.02 USD) per transaction. The time received depends on the state of the blockchain network at that time, usually only about 1 to 5 minutes.

MetaMask

What is a MetaMask?

MetaMask is a browser add-on / add-on that helps you to run a dictation of Ethereum dApps in your browser. More specifically, with MetaMask you can easily manage your ETH wallet as well as send ETH to your browser without having to visit another website.

MetaMask is also a gateway to help you use Ethereal-based dApses such as ETH wallet at Wallet.Ethereum.org or other scattered trading platforms like Etherdelta, Bancor …

MetaMask is available on Firefox, Chrome, Opera and Brave .

Open ETH Wallet with MetaMask

Step 1 : Install MetaMask into your browser. You can find MetaMask at:

Step 2 : Click the fox icon on the right side of the browser, click Accept > scroll down to read the Terms of Use > Accept .

Step 3 : Choose your password to log in to MetaMask.Step 4 : MetaMask will give you 12 keywords. These 12 keywords are very important , help you restore your ETH wallet when installing a new browser or forgot your password. Click SAVE SEED WORDS AS FILE to save the file containing 12 keywords, keep this file very carefully .

MetaMask Seed
MetaMask Seed

Step 5: Click I’VE COPIED IT SOMEWHERE SAFE to complete the wallet creation.

VISIT TO METAMASK

Each time you open the browser, MetaMask will ask you to enter a password to access the wallet. Enter your password and click UNLOCK to open the ETH wallet.

In the main interface of MetaMask you can see the balance of the ETH wallet and the number of tokens you have.

 

RECEIVE ETHEREUM & TOKEN WITH METAMASK

Get ETH and Token

Click the MetaMask fox icon on the right side of the browser, select Copy Address to clipboard to get the address of the wallet. Use this address to receive ETH or token in airdrop, bounty or ICO programs.

ETH
ETH

Send ETH and Token

At the main interface MetaMask you click on the SEND button. Then enter address to receive Recipient Address , enter the number of ETH to send at the Amount and click NEXT .

Adjust the Gas Limit and Gas Price as required by the receiver or to default and then click SUBMITto send.

RESTORE METAMASK

Each time you install a new browser or forget the MetaMask password, you need to perform a MetaMask recovery operation in the following steps.

Step 1: At the main interface, click on Import Existing DEN .

Step 2 : Enter the 12 secret keywords that you saved earlier. Reset the password for MetaMask and click OK .

JOIN MYETHERWALLET TO METAMASK

If you already have a MyEtherWallet wallet then this step will make it easy to view your balance, transfer money in that wallet without having to go through it again.

Step 1 : At the main interface MetaMask, click on the button  and select Import Account .

Step 2 : There are two ways to choose this: JSON File and Private Key .

  • Private Key : Enter and the secret code provided by MEW and then click IMPORT.
  • JSON File : Select the saved file from MEW and enter the password of the file and click IMPORT.

Ethereum Classic Wallet

On Payvnn has instructed you to use the type of wallet for Ethereum, and also with Ethereum Classic? The usage is similar to the following types of wallets:

MyEtherWallet

You can use the MyEtherWallet wallet for Ethereum Classic. Only with a change of connection to the ETC Network instead of the ETH network. Click the Network option at the top right of the interface and select ETC (epool.io) .

ClassicEtherWallet

ClassicEtherWallet ( https://ethereumproject.github.io/etherwallet ) is the official Ethereum Classic. The same way as MyEtherWallet wallet.

Ethereal Classic Interface
Ethereal Classic Interface

ClassicMask

ClassicMask is an extensible application for Google Chrome support for Ethereum Classic. Usage is the same as MetaMask.

ClassicMask interface
ClassicMask interface

How to check ERC-20 token in wallet

When participating in the Airdrop and Bounty programs you will receive the ERC-20 tokens (Ethereum standard) in your purse. However, many cases of this type of token are too new, so MyEtherWallet and MetaMask will not automatically display this token balance. Here is how you check the balance of these types of tokens.

Check tokens received

Step 1 : Visit Etherscan at https://etherscan.io/

Step 2 : Enter your wallet address in the search box and click GO .

Step 3 : Select Token Transfers tab in the search results you will see the whole token transaction is sent to the wallet.

Check out the token on the Etherscan
Check out the token on the Etherscan

So you know how many tokens you own. The following tutorial will show you how to update these tokens into your wallet.

Right next to the token balance, you will see the name of the token, click on the link. On the next page you will see the Contract Address and Token Decimals parameters , saved for use in the next step.

Update MyEtherWallet wallet token

On your MyEtherWallet wallet, go to the Token Balances section at the bottom right corner, and click the Add Custom Token button . Enter the Contract Address and Decimals obtained in the above step, select the name for the token in the Symbol Token, and then click Save .

Them Token MyEtherWallet
Them Token MyEtherWallet

From this you can track your balance or send this token from your MyEtherWallet wallet .

Update the MetaMask wallet token

At the main interface go to the TOKENS tab and click the ADD TOKEN button .

Enter the Contract Address , Token Symbol and Decimals , and click ADD to add the token.

Use MetaMask or MyEtherWallet

Pros and cons of MyEtherWallet

As we have seen, MEW has the biggest advantage of being secure when it comes to connecting directly to Ethereum’s blockchain without going through any intermediate gateway. Just close that tab and all connections will end, no one else can interrupt your account.

However, MEW has the disadvantage of each log to perform many operations, including visit of MEW, to copy selected files or Private Key. These small steps are risky and can be hacked if the computer is infected.

Pros and Cons of MetaMask

Contrary to MEW, MetaMask is easy to access when needed. You can quickly check your balance as well as the sending ETH / token within the browser. In addition, managing multiple ETH compilers is also a great advantage of MetaMask.

Disadvantages of MetaMask is easily accessible, just open a browser and type in the password you have full management for ETH.

Conclude

With the advantages and disadvantages above, we can conclude as follows:

  • If you want long-term storage, use your MEW wallet. Then store the Private Key as well as the JSON File in a safe, secure place.
  • If you need to use daily ETH wallet, get token, send ETH to invest in ICO, use MetaMask for convenience and speed.