How to Use MyEtherWallet?
Ethereum is swiftly gaining popularity and is becoming the internet's money. This is due to its superior blockchain technology and enhanced software solutions like MyEtherWallet.
MyEtherWallet is a free, open-source cryptocurrency wallet that allows users to connect to the Ethereum blockchain directly. MyEtherWallet.com is the starting point for users to produce the cryptographic keys they'll need to buy, store, and trade ETH tokens, the Ethereum network’s native currency.
Let’s understand how to use MyEtherWallet.
Connecting Your MyEtherWallet To ZenLedger For Your Crypto Tax Forms
- To import your MyEtherWallet transactions into ZenLedger for your crypto tax
forms, all we need is your public wallet address.
- Paste your wallet address into the MyEtherWallet address field in ZenLedger.
- Select the proper coin from the dropdown list.
- Select if the wallet is based in the USA or not.
- Then hit add a coin.
How To Use MyEtherWallet?
1. Create A Wallet & Store Private Key
- Go to MyEtherWallet and click on Generate wallet
- Now enter a strong password that has to be at least 9 characters long
- Under the Generate Wallet text on the right side, click “Generate”.
2. Storing Your Private Key
Next, you’ll have to store your private key for which you’ll have to follow the given steps:
- Download the .JSON file containing an encrypted version of the private key that is compatible with MyEtherWallet and that requires a password to decrypt (Keystore).
- Alternatively, you can also save an unencrypted version of your private key by downloading it as a .JSON file.
- You can also copy and paste it directly from the website.
Save the address of your wallet or the QR code. You must offer the sender a public key to which they’ll transfer Ether in order to accept transactions. For this, you can copy the text format or the QR Code. A paper wallet can also be made using a QR code.
3. Sending Crypto
- Upload your private key file to the MyEtherWallet website.
- Now click "Send Transaction," and then "Select Wallet File" to choose the type of private key you wish to use (Keystore, Json file, or Plain text).
- Choose the wallet you'd want to use.
- Type the password and click "Unlock wallet" once you've picked the proper private key.
- Fill out the information for the Wallet you want to send Ether to, as well as the amount you want to send.
- Click on "Generate transaction" and then "Send transaction".
- A final confirmation box will display; click "Yes, I am certain" to proceed.
Conclusion:
To ask for a protective and secure platform to safeguard has always been the top priority for users. It is very important that your assets are safe from scammers and hackers so that they don’t get hold of your hard-earned money. Here, MEW serves as a complementary tool for your wallet.
ZenLedger easily calculates your crypto taxes and also finds opportunities for you to save money and trade smarter. Get started for free now or learn more about our tax professional prepared plans!
