MyEtherWallet (MEW) stands as one of the most widely used and oldest Ethereum web wallet services available today.
The Legacy of MyEtherWallet
During the 2017 digital asset boom, many token issuers required contributors to have their own Ethereum wallet addresses. After token generation events, these ERC20 tokens (99.9% of which were Ethereum-based) would be sent to contributors' wallets. This created massive demand for easy-to-use wallet solutions, making MyEtherWallet many users' first gateway into cryptocurrency.
MEW became synonymous with Ethereum wallets because:
- It required only a Chrome browser to create a wallet
- It provided instant wallet address generation
- Its simplicity made it the go-to solution for newcomers
You might even hear experienced users ask, "What's your MEW address?" - meaning your Ethereum wallet address.
Creating Your Wallet Securely
When visiting https://MyEtherWallet.com, you'll encounter multiple security warnings. These exist because wallet creation involves several risks:
- Browser-based threats: Malicious extensions or compromised browsers
- System vulnerabilities: Keyloggers or malware-infected computers
- Phishing attacks: Fake versions of the wallet site
👉 Essential security practices for crypto wallets
Step-by-Step Wallet Creation
Password Setup:
- Create a strong password (9+ characters)
- Never reuse passwords from other services
Keystore Generation:
- The system creates an encrypted JSON file (Keystore)
- This file contains password-protected private key information
- Store this file securely as it's required for wallet access
Private Key Disclosure:
- The system displays your raw private key
- This is the most sensitive piece of information
- Never share this with anyone or store it digitally
Paper Wallet Option:
- The "Print Paper Wallet" feature creates physical backup
- Warning: Printer malware could compromise your keys
Wallet Access Methods
MEW provides two primary access methods, both with significant warnings:
1. Private Key Entry
- Paste your private key directly into the field
- Marked with red warning: "Not recommended"
- Risks: Keylogger exposure, clipboard monitoring2. Keystore Upload
- Upload your JSON file
- Still carries warning about security risks
- Potential exposure if device is compromisedRecommended Secure Alternatives
👉 Comparing top crypto wallet solutions
Current industry best practices recommend:
Browser Extensions:
- MetaMask (most popular Ethereum wallet extension)
- Built-in phishing protection
- Session-based security
Hardware Wallets:
- Ledger Nano series (offline key storage)
- Trezor devices (secure element protection)
- Complete isolation from internet threats
Mobile Wallets:
- Trust Wallet (Binance-acquired solution)
- Coinbase Wallet (exchange-linked option)
Frequently Asked Questions
Is MyEtherWallet still safe to use?
Yes, but with precautions. Always verify you're on the official site (check SSL certificate), use it primarily for wallet creation rather than frequent access, and transfer larger amounts to more secure storage.
What's the difference between MEW and MetaMask?
MEW is a web interface that can generate wallets, while MetaMask is a browser extension that maintains persistent wallet access with better security protections against phishing and malicious sites.
How often should I check my MEW wallet?
For optimal security, treat MEW as a temporary wallet solution. Check balances sparingly, and consider using blockchain explorers like Etherscan to monitor activity without exposing credentials.
Can I store Bitcoin in MyEtherWallet?
No, MEW exclusively supports Ethereum and ERC20 tokens. For Bitcoin storage, you'll need a Bitcoin-specific wallet solution.
Best Practices Summary
- Create wallet offline when possible
- Backup multiple times using different methods
- Test small amounts before transferring significant value
- Use hardware storage for long-term holdings
- Stay updated on security developments