About MyEtherWallet

MyEtherWallet is a cryptocurrency wallet that helps organizations generate wallets, manage contracts and interact with the Ethereum blockchain. It is an open-source application, which allows users to monitor and manage domains and collectibles on a unified portal.

MyEtherWallet lets businesses exchange different cryptocurrencies, buy Ether (ETH) tokens, send Bitcoins to Ethereum and send/receive Stablecoins and ECR20 tokens. It offers features such as Android and iOS applications, low balance alerts, price tracking via graphs, multiple accounts, authentication via PIN or Face ID and more. Additionally, administrators can send or verify messages to authenticate wallets’ ownership.

MyEtherWallet facilitates the swapping of Ether coins with other cryptocurre...


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1 Reviews of MyEtherWallet

Overall rating

4 / 5 stars

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September 2021

Chanaka from Maga Engineering

Verified Reviewer

Company Size: 51-200 employees

Industry: Civil Engineering

Time Used: Less than 6 months

Review Source: Capterra


Ease-of-use

5.0

Value for money

5.0

Customer support

4.0

Functionality

5.0

September 2021

Secure and open source wallet for crypto enthusiastic

MyEtherWallet is a free service with some remarkable good features and it’s been used by many users without facing issues so as a beginner this is a good wallet to use. Especially with ERC20 support, ICO offerings can be obtained using this wallet. This will not be safe as a hardware wallet but safe enough to use for average users.

Pros

Even though this is an open-source free software it provides good security for your crypto coins. With personal passwords and private keys, security is enhanced in this wallet. Additionally, user wallets and funds are stored on the Ethereum blockchain meaning the highest safekeeping for users. And being able to use any operating system is another great feature because the crypto field relies heavily on the number of users. And users can integrate wallet directly to the google chrome browser using an extension saving time. And most importantly MyEtherWallet supports Ethereum ERC20 token meaning any initial coin offers can be added directly into the wallet. Additionally, this is free for use. So, even a newbie with no funds can download and use MyEtherWallet when entering the crypto world.

Cons

Compared with some other wallets, the setting up process or MyEtherWallet seems somewhat complex. If you are an absolute beginner, most probably you will have to follow some tutorials on how to set up MyEtherWallet because I had to. And although this is secure, this is less secure or convenient than a hardware wallet. So most users tend to use MyEtherWallet initially and later transfer funds to their hardware wallets.

Reasons for Switching to MyEtherWallet

MyEtherWallet was free for use, had good recommendations, and felt more safe and secure for use.