Lesson 7 setting up an Ethereum wallet

Setting up an Ethereumwallet that supports Token Sales

The following are steps to set an address on MyEtherWallet.

Step 1:

Go to: https://www.myetherwallet.com/

Note:  please check the URL: https://www.myetherwallet.com/. If the URL is different, you are likely on a phishing website.

Step 2:

Make sure you are on the MyEtherWallet network.

 

Step 3:

Enter (AND REMEMBER) a secure password and click “Generate Wallet”.

 

Step 4:

Click “Download” and save your Keystore File and store it in a safe location.

This is required to access your account for future transactions.

If you misplace this, you will not be able to access your account.

If it is stolen, you may lose all of your ETH or other tokens in the wallet.

Step 5 (Recommended):

This step is optional but very useful. Click “Print” to get an unencrypted copy of your wallet’s public address and private keys.

This is an example of a paper wallet.

Alternatively, you may wish to print a copy.

Store in a  safe location for both the paper wallet and the physical copy. Do NOT share it with any other person.

Step 6 (Recommended):

You should practice unlocking your address on MyEtherWallet several times before sending any ETH to it. To unlock:

  1. Go to Send Ether & Tokens
  2. Select Keystore File (UTC / JSON)
  3. Select your Wallet File (where you saved your keystore file)
  4. Enter your password
  5. Select Unlock

Now you are able to see your address and account balance.

Congratulations, your MyEtherWallet address is now set up! You may now transfer ETH from your Exchange account to this address.