11/15/2017

How To Make An Ethereum Wallet

To learn more about digital wallets, please check out our Simple Guide To Digital Wallets. As an example of how to create an ether wallet we will use the popular client provided by https://www.myetherwallet.com/

My Ether Wallet Home Page

Creating a wallet
Start by entering a password and click “Create New Wallet.” Be sure to use a strong password consisting of letters, numbers, and symbols when creating a password.

Keystore File Download

After clicking “Create New Wallet” you will be directed to the screen where you download the Keystore File associated with your new wallet. This wallet can be used to open or restore your digital wallet. Download the wallet to a safe location on your computer and consider encrypting the file with a password for maximum security. Once you have downloaded the file, click the button that says “I understand. Continue.”

Private Key Display

The next page will display your private key and give you the option to print a paper wallet. Save the private key in a safe location. If you lose the private key and the Keystore File there is not a way to recover your account. If the private key or Keystore File falls into the wrong hands it may be used to access your wallet. Copy your private key and click “Save Your Address.”

My Ether Wallet Dashboard

Under “How would you like to access your wallet,” select “Private Key,” paste your private key into the box provided, and click the “Unlock” button. Now you can scroll down to access the details of your wallet’s account, including your address or public key, account balance, QR code and transaction history.

My Ether Wallet Display

Making a transaction
Your public key or address can be shared with others to allow them to send currency to your wallet. To learn more about how to purchase ethereum, check out our Simple Guide To Purchasing Cryptocurrency. Once you have funds in your wallet you can click the tab at the top of the screen that says “Send Ether and Tokens.” Paste the address of the wallet you want to send currency to, select the currency you want to send, set the amount of currency you want to send, and adjust the gas limit if desired. 

Send Screen

Securing your wallet
As a web-based client, MyEtherWallet should be considered vulnerable to keylogger attacks. 

Other bitcoin wallets
In addition to the client provided by https://www.myetherwallet.com/, other popular ethereum wallets include http://www.exodus.io/, https://electrum.org/#home, https://wallet.mycelium.com/, and https://www.ledgerwallet.com/.

Authored by

Seth Goldfarb

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