Are you looking for a safe, secure way to store your cryptocurrency? An offline wallet is the best option. Fortunately, setting up an offline wallet is easy with MyEtherWallet (MEW). In this guide, we will walk you through how to get started with myetherwallet and create your own secure offline wallet.
What is an Offline Wallet?
An offline wallet—also known as a “cold storage”—is a type of cryptocurrency wallet that stores the user’s private keys on a device that has never been connected to the internet. By keeping your private keys off the internet, you are less vulnerable to hackers who may try to steal them. This makes an offline wallet one of the most secure ways to store your cryptocurrency.
Getting Started With MEW
MyEtherWallet (MEW) is one of the easiest and most secure ways to set up an offline wallet. To get started with MEW, you will need two pieces of hardware: a computer or device that has never been connected to the internet and a USB drive. The computer should be free from malware and viruses and should not have any connection to the internet whatsoever. Once you have these two pieces of hardware ready, follow these steps:
1. Go to https://www.myetherwallet.com/ and click on “Create New Wallet”. You will then be prompted to enter a password for your new wallet. Make sure that it is strong enough that no one else can guess it!
2. On the next page, you will see your private key in both hexadecimal format and QR code format; make sure that you store it in both places (for example, save it as an image file). Also make note of your public address which can be used for sending crypto assets into your newly created wallet. Note that if anyone gets access to your private key they will also have access to all of your funds!
3a. Next, go back to myetherwallet’s homepage and click on “Send Ether & Tokens”; select “Offline Transaction” from the drop-down menu at the top right corner of the screen 3b. Enter in your public address into the “To Address” field; enter in how much ETH or tokens you want send into this field as well 4a . Select “Generate Information”; this will generate data fields which will need to be filled out later 4b . Copy this information onto a USB drive 5a . Insert USB drive into computer not connected to internet 5b . Enter USB drive information into corresponding data fields on MEW website 6a . Click “Generate Transaction”; this will generate transaction data fields which need filling out later 6b . Copy this information onto USB drive 7a . Insert USB back into computer not connected online 7b . Enter transaction data fields onto MEW website 8a . Click “Sign Transaction” 8b . Copy signed transaction onto USB drive 9a . Insert USB back into computer not connected online 9b . Enter signed transaction onto MEW website 10a . Click “Send Transaction” 10b . Congratulations! Your transaction has been sent and received!
Setting up an offline wallet using MyEtherWallet is quick and easy once you know what steps are necessary in order to do so properly! By following these steps outlined above, you can ensure that your cryptocurrencies are stored safely away from any potential hackers or malicious actors who may try take advantage of them without permission or knowledge! Not only does setting up an offline wallet provide extra security but it also helps ensure peace-of-mind knowing that all of those hard earned coins are tucked away safe from harm’s way! If done correctly, creating an offline wallet with MyEtherWallet can be a great way for anyone looking for extra security when dealing with their digital assets!