This is your one-stop guide to MyEtherWallet. This guide explains how to setup MyEtherWallet Online, MyEtherWallet Offline and also how to setup MyEtherWallet MetaMask. The guide will explain how to withdraw funds from MyEtherWallet Online and Offline as well. Read all the instructions carefully. Double check all the addresses before making a transaction.MyEtherWallet

Ethereum and ERC20 Tokens have a same deposit and withdrawal address on a particular exchange and wallet. All the ERC20 tokens are built over the top of the Ethereum blockchain. This makes it very easy for the ERC20 tokens to use the deposit and withdrawal address as same as that of the Ethereum. The address differs for each exchange and wallet only, but on that particular exchange or wallet, the addresses for ETH and ERC20 Tokens will remain the same.

If you are looking for a way to store your Ethereum and ERC20 Tokens, you must have come across the mention of MyEtherWallet. MyEtherWallet supports all the Tokens built using Ethereum system. It also stores Ethereum itself. The wallet has different versions. It can be used to store the coins online. There’s an offline version of the wallet that can be downloaded on a computer. Users can synchronise MyEtherWallet with MetaMask or Mist. It can be connected with Ledger Wallet as well. In this guide, we will take a look at the easiest methods to store Ethereum and ERC20 Tokens on MyEtherWallet. Let’s have a look at the Guide to MyEtherWallet [Online/Offline & MetaMask].

Guide to MyEtherWallet [Online/Offline & MetaMask]

Creating an Online Wallet on MyEtherWallet

  1. First of all, open MyEtherWallet.com website. Make sure that you type the name of the website correctly. There are a lot of phishing websites that can dodge you with the name. Always cross-check the website you are surfing.
  2. The home-page of MyEtherWallet will show you a form to enter a password for your new wallet.
  3. Enter the password and go through the instructions of MyEtherWallet. Read the disclaimer thoroughly.
  4. MyEtherWallet will tell you to download your KeyStore File now which is a JSON / UTC file. Download the file now and then click on “I Understand Continue”.
  5. Now MyEtherWallet will show you your Private Key and also an option to print paper wallet.
  6. Copy this Private Key and save it somewhere you won’t lose it from.
  7. Click on “Save Your Address Now”. It will now take you to the page to choose your access method.
  8. As you downloaded the Keystore / JSON file and also saved your Private Key, you can use any of these two to access your wallet.
  9. To access your wallet using Keystore / JSON file, click on the Keystore / JSON file button and then upload the file. After uploading the file, enter the password to unlock the wallet.
  10. To unlock your wallet using Private Key, click on the Private Key option and then copy & paste the private key in the form to access it.
  11. As soon as you get your Wallet unlocked, you will find your account address in it. You can use this address to deposit ETH and ERC20 Tokens into your MyEtherWallet account. The address for ETH and all ERC20 Tokens is the same.

In order to access your wallet next time, you will open MyEtherWallet website and click on the “View Wallet Info” tab. On the page, you will find options to access your wallet. You can access it either by using Keystore / JSON file encrypted by your password or your Private Key which is unencrypted.

Withdrawing Funds from Online MyEtherWallet

  1. Open MyEtherWallet and unlock your wallet.
  2. Now on the MyEtherWallet home-page, you will find the tab “Send Ether & Tokens”.
  3. A form will appear now asking you for the address, amount of tokens and the GAS limit.
  4. Enter the deposit address where you want to send the ETH or Tokens, enter the Amount of the ETH or Tokens. You can also select Tokens from the drop-down appearing next to this bar.
  5. Specify the amount of GAS you want to use for the transaction.
  6. Click on Generate Transaction.
  7. Your transaction will now begin and you will get the ETH or the Tokens in your address in a few minutes.

Creating an Offline Wallet on MyEtherWallet – More secure as compared to the Online Wallet

Before creating an Offline Wallet, make sure that you do not connect this computer to the internet. You can only connect to the internet to download the wallet file. As soon as you have downloaded the wallet file, disconnect the computer from the internet and never connect it again unless you have emptied your wallet. It’s just a suggestion to keep your funds safe and secure.

  1. Download the latest version of MyEtherWallet on your computer – Download Link. At the time of writing this post, etherwallet-v3.11.3.2.zip is the latest version of the wallet.
  2. Unzip the downloaded .zip file to access the folder contents.
  3. In the unzipped folder, you will find the Index.html file.
  4. Open this file, it will open the MyEtherWallet in your browser.
  5. You will find this exactly like the online version of the website. However, this version is completely offline and it’s more safe and secure as compared to the online version.
  6. The home-page of MyEtherWallet Offline Wallet will show you a form to enter a password for your new wallet.
  7. Enter the password and go through the instructions of MyEtherWallet. Read the disclaimer thoroughly.
  8. MyEtherWallet will tell you to download your KeyStore File now which is a JSON / UTC file. Download the file now and then click on “I Understand Continue”.
  9. Now MyEtherWallet will show you your Private Key and also an option to print paper wallet.
  10. Copy this Private Key and save it somewhere you won’t lose it from.
  11. Click on “Save Your Address Now”. It will now take you to the page to choose your access method.
  12. As you downloaded the Keystore / JSON file and also saved your Private Key, you can use any of these two to access your wallet.
  13. To access your wallet using Keystore / JSON file, click on the Keystore / JSON file button and then upload the file. After uploading the file, enter the password to unlock the wallet.
  14. To unlock your wallet using Private Key, click on the Private Key option and then copy & paste the private key in the form to access it.
  15. As soon as you get your Wallet unlocked, you will find your account address in it. You can use this address to deposit ETH and ERC20 Tokens into your MyEtherWallet account. The address for ETH and all ERC20 Tokens is the same.

In order to access your wallet next time, you will open MyEtherWallet’s Index.html file and click on the “View Wallet Info” tab. On the page, you will find options to access your wallet. You can access it either by using Keystore / JSON file encrypted by your password or your Private Key which is unencrypted.

Since this is an offline wallet, you will not be able to see your funds in it. You can check your funds using Etherscan. Your transaction records will appear on Etherscan. They will not appear in your wallet because you are not going to connect your wallet to the internet.

Withdrawing Funds from Offline MyEtherWallet

To withdraw funds from MyEtherWallet Offline, you need two computers. Let’s call these two computers Computer A and Computer B. The Computer A will be your offline computer and the Computer B will be your online computer.

We need to keep the Computer A offline to protect your wallet from getting public. If your wallet’s address is never exposed to the internet, no one is going to be able to try to look into it and try to steal your funds either. Since this computer stays offline, it is not prone to any hacks or scams.

Online Computer – Computer B

  1. To withdraw funds from Computer A, turn on Computer B.
  2. On your Computer B open MyEtherWallet.com website.
  3. Now click on “Send Offline”.
  4. Send Offline page will pull up a form now. In the very first step, the form will ask you to enter the address from where you want to withdraw. It will appear as Step 1: Generate Information (Online Computer)
  5. Enter the address of your Offline Wallet here and then click on Generate Transaction.
  6. Generating the transaction will give your GAS price and Nonce.
  7. Copy the Gas Price and Nonce into a text file and then copy this text file into a USB stick.
  8. Plug out the USB Stick from Computer B and connect it to Computer A which has your Offline Wallet.

Offline Computer – Computer A

  1. Now on Computer A, open the Offline Wallet by clicking the Index.html file.
  2. On the Offline Wallet, click on “Send Offline” page and scroll down to Step 2: Generate Transaction (Offline Computer).
  3. Now in the form, enter the address of the wallet where you want to deposit the funds.
  4. Paste the Gas Price and Nonce that you got after generating a transaction in Step 1 on Computer B.
  5. Scroll down to unlock the wallet now. You can unlock the offline wallet either by using Private Key or by using the Keystore / JSON file encrypted by a password.
  6. As soon as you unlock your wallet, you will find the Generate Transaction button. Click on the Generate Transaction button to get RAW Transaction and Signed Transaction. Below these two boxes, you will find another box with the Signed Transaction for the Online Computer. It will appear as Send / Publish Transaction (Online Computer).
  7. Copy the Signed Transaction for Online Computer and copy it into a text file. Copy the text file into a USB storage device.

Launching Transaction on Computer B – Online Computer

  1. Now get back to the Online Computer and open the Send Offline page again from the MyEtherWallet Website.
  2. Connect the USB storage device to the Online Computer now.
  3. Open the text file that has the Signed Transaction.
  4. Scroll all the way down to the MyEtherWallet Offline page.
  5. Copy the Signed Transaction from the text file and paste it here on the Offline page.
  6. Click on Send Transaction now. You will get a pop-up whether you’re sure or not. After clicking “I’m sure” button, you will find a green message at the bottom. Your offline transaction has been done now. That’s all.

Connecting MetaMask to MyEtherWallet

This is the easiest and the safest method to store your Ethereum and ERC20 Tokens. MetaMask is like an Ethereum Browser. It can be used to create multiple wallets. MetaMask can send the funds within a few clicks right from the corner of your Google Chrome browser. It keeps your details in your browser and protects the data from getting compromised. If you have a MetaMask wallet set up, all you need is to click the MetaMask button on MyEtherWallet to synchronize your wallet with MyEtherWallet.

  1. Download and install MetaMask Chrome Extension in your Google Chrome browser.
  2. After installing the extension, click on the fox icon appearing in the top-right corner of the screen.
  3. First of all, make sure that MetaMask is connected to the Main Network: Main Ethereum Network.
  4. Enter a password to create a new wallet now.
  5. MetaMask will create a vault now and show you an array of strings which will be 12 unique words to recover your wallet. Save these words somewhere safe. You can download them as seed file.
  6. MetaMask will now create your wallet. You will be able to see your address in the MetaMask window now.
  7. Now open MyEtherWallet website on your computer.
  8. Click on “View Wallet Info” tab.
  9. Now click on the MetaMask / Mist option.
  10. Click on the Connect to MetaMask button now.
  11. MEW will quickly connect to your MetaMask wallet and you will be able to access it easily.
  12. You can now start depositing or withdrawing funds to and from MEW. That’s all.

That’s all. I hope that you guys find this guide helpful. If you have something to add to this guide, feel free to drop it in the comment box below. Stay connected with us for more guides.