Review on MyEtherWallet by Danh Huỳnh Ngọc Công
Myetherwallet is my first and forever decentralized favorite wallet
Myetherwallet is still one of the wallet that every Ethereum blockchain lover should know about and should use. It has many advantages and very limited number of disadvantages. Although it has been very good, I feel like it will be growing much and much better in the future. I recommend everyone to use this wallet, to experience a top-tier services
Updated 5 years ago
Rating changed from 4 to 5
Positive point: The mobile version of MEW is very beautifully designed and easy to use. It is also accessible to users as it is totally free to download it from App Store or Play Store
Pros
- - The wallet let users store the private key of your Ethereum address so they control their assets themselves
- - It requires no special technique to use the wallet. Although the first generation of wallets were very technically complex to use, Myetherwallet let users feel the ease of using it. Users can send, receive, check balance, deploy smart contracts or many other things very simply
- - As MEW is a open-sourced project so the wallet is very transparent and the community can develop around it
- - Due to highly active number of supporters, there are a lot of instruction videos showing how to utilize the most of the wallet
- - It does not store users' seed phrases and requires users to download it to users' computers; therefore, it is quite safe
- - Transactions can be proceeded offline
- - Myetherwallet let users print their private keys on paper wallet and this is an interesting feature
- - Users can access their addresses with many ways such as using MEWConnect (mobile version of MEW, from the same company), hardware wallets (like Ledger, Keepkey, Finney, Trezor, Digital Bitbox, or Secalot, .etc), Metamask extension and software (like keystore files, private keys or mnemonic phrases)
- - Its new design is supper good, very eye-catchy and still simple to use as usual. It allows users switch to the old design if they want
- - Customer support is very responsive and answers in time. Community is also a very great source of help
- - They release an extension version of it so it is more convenient to access it on PC
- - It supports users to launch the Dapps on the platform
- - MEW has partnered with some companies to allow users to swap their ether for other cryptocurrency
- - They are active on many social networks such as Facebook, Instagram or Medium
Cons
- - Myetherwallet is targeted by phishing scammers; a lot of funds have been reported to be stolen without any light of recovery. Users need to be very be careful
- - There is no way that the team can recover keystore files or seed phrases for the users who lost them
- - There is not many security layer to protect the funds.
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Comments (2)
October 03, 2019
@Alex Some other types of wallet can help you recover your addresses by your register account! "There are not many security layers to protect the funds" means the other wallets like Metamask protect you from exposing your private keys by not asking you to upload them and Ledger offer you many wonderful security layers like its own OS.
In my opinion, as an Expert, you should spend more time to experience products before writing something
October 02, 2019
What do you mean when you write "There is not many security layer to protect the funds" and "There is no way that the team can recover keystore files or seed phrases for the users who lost them". Blockchain system cannot promise you to recover your keystore files or seed phrases just because it is impossible to do. Nobody can help you with it! And in my opinion like an Expert you should know better about it.
