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A Step-By-Step Guide Showing How To Create A Wallet

A Step-By-Step Guide Showing How To Create A Wallet

In this article, you will find out how to create a wallet. People use MyEtherWallet to store their Ethereum tokens. There are other wallets that will allow you to store your Ethereum tokens, but they are not as common as Bitcoin wallets. Here is how you create your MyEtherWallet wallet

Go to the website. I tried using Internet Explorer, but I couldn’t see the website very well, so I used Microsoft Edge instead. When you get to the website, you should see something such as this:

MyEtherWallet Home Page

Entering Your Password For Your New MyEtherWallet

You start by entering a new password. Pick a strong and long one, and make sure you write it down. It may be a good idea to write it down in more than one place. Use a pen and paper. Do not write it down in digital form where a hacker may be able to find it. Once you have written down the new password you just made up, enter it into the system and click the button called “Create New Wallet.” You will then see a page that tells you to, “Save your Keystore File.”

Save your keystore file on myetherwallet

Click on the button that says, “Download Keystone File (UTC / JSON). The file is pretty important, so make a backup or two on a different device such as a thumb drive. I had to click the “I Understand. Continue” button to move forwards. Only click the button to continue after you have saved your keystone file.

Saving Your MyEtherWallet Key

The next page asks you to save your private key. I don’t have a screenshot of that because I don’t want the world knowing my private key. Make a written note of your private key on paper, and you may also print a copy of it and print a copy of its QR code too. After you have done that, you need to click on to the next page where it asks you to unlock your wallet.

Unlock your Myetherwallet wallet to see your address

I used the Keystone file to unlock my wallet because it was easier than typing the private key into it. I saw one kid on YouTube who copied and pasted his private key from the previous screen. I am probably being fussy, but I wouldn’t want to save my private key into my clipboard. I clicked on the “Keystone File (UTC / JSON)” option, and it asked me to select a wallet file. I clicked the button, navigated to where I saved my Keystone File and I selected it to be used. It then asked me to enter my password, and I did.

Finding Your Wallet And Its New Address

You are now able to see your wallet and its address. That is all it takes to open a wallet. If you are looking for a place to store your Ethereum tokens, then MyEtherWallet is a suitable place. It was built mostly for people in the USA, but people from other countries may use it too. It is just a little tricky buying digital currency because right now (in the year 2017), they ask you to pay with dollars. Converting money to dollars is not always as tricky as it seems, it is just a case of finding a place to store dollars where you may use them to buy cryptocurrency.

You Ned To Learn About Wallet Security

Read as much as you can about how to keep your wallet and your transactions safe. MyEtherWallet is built in a way that forces you to take care of your own security. Make sure you learn as much as you can about proper security before you start filling your wallet with tokens. The more money you intend to invest in cryptocurrency, then the more you need to learn about wallet security.

About The Author

Ash The Great

After a varied career in different industries from the hospitality industry to the financial consultancy industry, Ash now spends his days working as a professional writer.

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