Review on MyEtherWallet by Benaiah A. Akinlade
MEW: “The single purpose wallet”
MyEthereumWallet also knowns as MEW supports many different wallet types including hardware wallets, such as the Ledger Nano S or Trezor, and third-party wallets like MetaMask. You can also add the MEW CX wallet via google Chrome Extension.
If you have ETH or any ERC-20 token in your MEW, then you can make transactions without being charged extra.
MyEtherWallet supports 151 tokens such as Ethereum, Ethereum Classic, Tether, USD Coin, and all other ERC-20 tokens.
You can’t recover or reset your passwords on MEW
It’s noteworthy that you can’t store non ERC-20 tokens/coins such as Bitcoin or Litecoin in MyEtherWallet.
MyEthereumWallet is available on web and for download for iOS or Android smartphones.
My experience with MEW IOS mobile app
The interface of the app is simple and easy to navigate. There are no clustered links or information that may be confusing. I really like the simplicity of the app
The homepage shows the ETH balance and you can also select the receive button to receive tokens from another wallet.
You can buy ether on the second button through your debit/credit (Visa or mastercards)
On the second page, you can swap between your eth tokens. You can choose from 151 tokens to swap
The third page is known as the Education Centre. It shows different information you need to know about the wallet and cryptocurrencies and different safety tips you can use to protect your tokens.
My Opinion
MEW is a good wallet for investors that are only interested in trading ethereum and ERC-20 tokens.
The app is easy to use and not clustered together. It supports up to 151 ERC-20 tokens.
The app is fairly secure but I will advise against using the web plugin or extension
I personally prefer a wallet that accommodates all the popular cryptocurrencies
Pros
- The MEW app is very easy to use
- MEW supports a lot of tokens (151 tokens)
- It’s very good for investors of only ether
- It is available on web and mobile
Cons
- It doesn’t support btc and ltc
- The app can be hacked if you log in through web plugin
New products
Comments (1)
August 30, 2020
It is a good platform that is absolutely configurable, free and open source, we have absolute control of our cryptocurrencies. However, it is counterproductive for those with little experience in addition to the hacks that have sadly taken place.
