Review on MyCrypto by Temitope Babatunde
Good Alternative To Myethwallet
Mycrypto wallet is an offshoot or break away of Myethwallet., that is why they are very much alike as they share almost the same features. this wallet was launched in 2018 as a result of the view point of one of MEW co founder Taylor Monahacan on the policy of MEW.
Like MEW this wallet is basically for ethereum and tokens that were based on it. Very simple to set up what a user need to do is just to visit their website and download the application and then follow the given instructions to set it up. It is designed in such a way that the user safeguard the private key, mnemonic phrase and keystore all are store by the user, so it is highly decentralized.
It has so many interesting features, for example it integrated the coinbase widget and shapeshift such that users can easily use those exchanges, it also has Eth Name Service, schedule transaction etc. User can also turn their phone into hardware through parity signer.
In conclusion, this wallet is good security wise and is dependable with good team behind it.
Pros
- It is an open source wallet.
- It has hardware wallet integration.
- It automatically detect the tokens sent into it.
- It allows the user to determine how much they are willing to pay for a transaction.
- Users control the private keys.
- It is user friendy.
Cons
- Has so many competitors.
- Only for ethereum and ethereum based tokens.
