If you are just getting started with cryptocurrency, one of the most important tools you need is myetherwallet. MEW is a free open-source platform that enables users to store, manage, and interact with Ethereum and other ERC20 tokens. In this article, we’ll provide an overview of MyEtherWallet and explain how to get started using it.

What Is MyEtherWallet?

MyEtherWallet is a web-based wallet that allows users to securely store Ether (ETH) and other ERC20 tokens. It also enables users to interact with Ethereum-based decentralized applications (DApps) without having to rely on a third-party service or provider. MEW security features include encrypted keys stored locally on your device and two-factor authentication for added protection.

As an open-source platform, anyone can review and contribute to the code for MEW. This means that the codebase is constantly being improved and updated by developers from all over the world working together. This also ensures that MEW remains secure against malicious attacks by hackers who might want to gain access to user funds or data.

How To Use MyEtherWallet?

Using MEW is fairly straightforward but there are some steps you should follow in order ensure your safety when using this platform. The first step is to create an account which requires you to create a strong password that no one else will know or be able to guess easily. Once your account has been created, you can then add Ether or other ERC20 tokens into your wallet by sending them from another wallet address or exchange platform such as Coinbase or Kraken. You can also purchase ETH directly through MEW using supported payment methods such as credit/debit cards or PayPal.

Once you have added ETH/tokens into your wallet, it’s time to start interacting with different DApps available on the Ethereum network. To do this, simply click on the “Interact With Contract” button at the top of the page and enter in any relevant details required for that particular DApp such as an address or transaction ID number. You will then be presented with a list of actions available for that DApp which can be interacted with by clicking on them individually – each action may require additional information before it’s completed so make sure you read any instructions given before confirming anything! 

Finally, once you’re done interacting with different DApps, don’t forget to log out of your account in order keep your funds safe and secure! You should also regularly backup your wallet so that if something happens to your device or computer, you won’t lose access to all of your funds as well as any transactions made within the past 24 hours since logging out of MEW. 

MyEtherWallet provides an easy way for beginners who are just getting started with cryptocurrency trading & investing – enabling them to safely store Ether & other ERC20 tokens as well as interact with various DApps available on the Ethereum network without needing third party services or providers like banks & exchanges etc.. Just remember that security is key when dealing with cryptocurrency so always ensure that strong passwords are used when creating accounts; regularly back up wallets; use two factor authentication where possible; never share private keys; and logout whenever finished using MEW! Thanks for reading our beginner’s guide! Hopefully now you have a better understanding of how MyEtherWallet works & how it can help take your crypto trading & investments further!