Review on MyEtherWallet by Killer Bean
The Concise wallet for Ethereum based tokens
This wallet was built on an ethereum blockchain, with the sole intention of storing ethereum and ERC related tokens. This wallet seems to be the most reliable wallet I have used to store my ethereum and my few ERC tokens. As an open sourced wallet, users can contribute to the development of the wallet and spot out necessary bugs which needs to be removed. The entire interface of this wallet is understandable and very easy to use though I had problems setting up the wallet initially. Registration usually takes nothing more than three minutes to he completed. One of the things that I enjoyed personally while using MyEtherWallet was the ease and speed of the transactions I completed daily. Interestingly, it is very possible to connect my hot wallet(MyEtherWallet) to my hardware wallet(Trezor One) which made my funds very much secure. With all these, I was rest assured that my funds were properly secured and under no form of threat. MyEtherWallet, like I earlier said was built to store only Ethereum and ERC 20 tokens, thus makes it a disadvantage to other traders who are more interested in trading cryptocoins other than Ethereum and ERC tokens. This was one of the part of this wallet I didn't appreciate. Usually some wallets come with an in built exchange to make trading, exchanging and storage of cryptocurrencies easier and even more secure. But MyEtherWallet doesn't have this, thus making storage and trading quite harder.
Pros
- Its a very secure wallet for storing Ethereum and ERC related tokens
- It can be integrated with hardware wallets for better security
- It is an open sourced wallet where every user can serve as contributors to the development of the wallet
Cons
- This wallet is disadvantageous to Bitcoin and other altcoin investors
- MyEtherWallet isn't as secure as hardware wallets
- It doesn't have an inbuilt exchange
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Comments (2)
January 03, 2021
myetherwallet is a place where you can do very little transactions, and yes, you are right, I would appreciate it if you would add new information when you update the transaction fee and correct the information that you wrote incorrectly. it would be nice if you added new information in your new review. thanks for everything. stay well.eri is also high.
December 31, 2020
This free open source tool will definitely help us to save our Ethereum digital assets and other assets. It has multiple benefits and features that are really nice. Do you think this tool could have a promising future?
