Review on MyEtherWallet by Adedayo Adeniji
MyEtherWallet a free open source wallet
MyEtherWallet is a free open source wallet which relates with Ethereum cryptocurrency ledger in other to let its users generate their cryptocurrency wallets online and it can be referred to as an intermediary interfacing with Ethereum cryptocurrency ledger to generate paper wallet that carries a private key that can be stored offline thereby giving the wallet owner a full responsibility and control, the paper wallet idea eliminates the risk known with storing private keys online.
MyEtherWallet has an outstanding feature that it can be integrated with hardware wallets like MetaMask and Trezor for added protection, it is flexible as regards storing all types of ERC20 tokens and it does not require KYC to transact cryptocurrencies legitimately, its interface is simple in design and friendly to navigate.
Being an open source wallet makes it free for all users without any restriction to any country, it does not charge any fee except for when one sends Ethereum and such charges are made use of by miners working on Ethereum cryptocurrency ledger.
It has good security options for users to adopt with the likes of password and private key stored offline, it has a knowledge-based guide that is frequently updated for the use of its users and a contact email to its customer care support to boost its support system.
I recommend this wallet as a safe and easy to use one for anybody.
Pros
- It is a free open source wallet
- It is reliable with a test of time testimony
- Supports offline storage with integration with hardware wallets like Trezor
- Its server does not store any sensitive information of its users
- Does not require KYC.
Cons
- Prone to phishing attacks.
