MyEtherWallet (MEW) is a free, open-source platform that provides a user-friendly interface for creating wallets to store and manage Ethereum-based tokens. Unlike centralized services, MEW does not hold users’ funds or personal data. Instead, assets and sensitive information remain stored locally on the user’s device, while the platform generates and manages wallet addresses. This decentralized approach enhances security and ensures full user control over their digital assets. Additional features and enhanced security are available through the MEWconnect mobile app.
What Is MyEtherWallet?
Launched in 2015 by Taylor Monahan and Kosala Hemachandra—now the CEO of MyEtherWallet—the platform is headquartered in Los Angeles and accessible globally, with exceptions for certain restricted regions. The interface supports 18 languages, making it accessible to a broad international audience. Many consider MyEtherWallet one of the most popular choices for storing ETH and ERC20 tokens.
Initially launched as a web-based wallet, MyEtherWallet has evolved into a client-side application, meaning all critical operations occur directly on the user's device rather than on remote servers. This shift significantly improves privacy and reduces exposure to online threats.
👉 Discover how secure wallet integration boosts digital asset safety.
The platform also collaborates with leading blockchain projects such as Trezor, Ledger, Kyber Network, Simplex, and Changelly, enabling advanced functionalities like token swaps and hardware wallet integration—all accessible from a single interface.
Supported Tokens
MyEtherWallet operates exclusively within the Ethereum ecosystem. As such, it supports ETH and any token built on the Ethereum blockchain using the ERC20 standard. This includes hundreds of widely used cryptocurrencies like USDT, UNI, LINK, DAI, and many others.
Users can seamlessly send, receive, and store these tokens. Additionally, MEW allows users to add custom tokens if they’re not listed by default. To do so, simply provide the token symbol, contract address, and number of decimals. Once configured, the token behaves just like any other in your wallet.
This flexibility makes MyEtherWallet ideal for both casual users and advanced traders managing diverse crypto portfolios.
Is MyEtherWallet Secure?
Security is a top concern in cryptocurrency, and while MyEtherWallet implements strong protective measures, past incidents highlight the importance of user vigilance.
In 2017, a fake version of MyEtherWallet appeared on the Apple App Store, tricking users into downloading malware that stole private keys. Then in 2018, attackers launched a phishing campaign by cloning the official MEW website. At one point, traffic was even redirected to this fraudulent site, resulting in losses estimated at $150,000.
These events underscore a crucial truth: the wallet itself is secure, but external threats—like phishing sites and fake apps—can compromise user accounts. Since MEW never holds user funds or data, hackers must rely on social engineering rather than direct breaches.
To enhance protection, MyEtherWallet recommends:
- Using the platform offline or via trusted networks
- Installing anti-phishing browser extensions like Cryptonite, EAL, or PhishFort (for Chrome users)
- Utilizing MEWconnect for encrypted mobile access
- Pairing with hardware wallets such as Ledger or Trezor
Crucially, never share your private key, keystore file, or 24-word recovery phrase with anyone. These grant full access to your funds and should be stored securely offline.
Two-factor authentication (2FA) and anti-phishing tools are built into the system, further strengthening account integrity. In case of device loss, recovery is possible using either the mnemonic phrase or keystore file.
While no system is entirely immune to risk, MyEtherWallet provides robust security when used responsibly.
What Is MEWconnect?
MEWconnect is a mobile application designed to bring hardware-wallet-level security without requiring physical devices—often described as “a hardware wallet without the hardware.”
Available on both Android and iOS, MEWconnect turns your smartphone into a secure signing environment. It establishes an encrypted peer-to-peer connection between your phone and the MyEtherWallet website, ensuring private keys never leave your device.
Key benefits include:
- End-to-end encryption for all transactions
- No account registration required
- Full user autonomy—no third party can access or freeze funds
- Enhanced privacy due to zero data collection
Because MEWconnect operates independently of centralized servers, it minimizes attack surfaces and gives users complete control over their digital assets.
👉 Learn how decentralized apps protect your crypto investments.
MyEtherWallet Fees Explained
MyEtherWallet does not charge service fees for transactions. However, all operations on the Ethereum network require gas fees, paid in ETH to compensate miners for processing power.
Gas prices are dynamic and measured in GWEI (1 GWEI = 0.000000001 ETH). Users can adjust gas limits based on desired transaction speed:
- High priority (40 GWEI): Likely included in the next block
- Medium speed (20 GWEI): Processed within several blocks
- Low cost (as low as 2 GWEI): Suitable for non-urgent transfers
Transactions cannot proceed without sufficient ETH to cover gas—even when sending other ERC20 tokens. The minimum transaction cost on MEW starts around 0.000441 ETH, though actual amounts vary with network congestion.
Understanding gas mechanics helps users optimize costs without compromising transaction reliability.
Integration With Third-Party Products
One of MyEtherWallet’s standout features is its extensive support for third-party tools and services.
Hardware Wallet Compatibility
MEW integrates seamlessly with popular hardware wallets:
- Trezor
- Ledger
- KeepKey
- BitBox
- Secalot
- CoolWallet
- BC Vault
- Billfodl
- FINNEY
These integrations allow users to manage cold storage assets directly from the MEW interface.
Token Swaps & Fiat On-Ramps
Through partnerships with platforms like:
- Kyber Network
- Changelly
- Simplex
- Bity
Users can swap tokens instantly or purchase crypto with fiat currency (e.g., USD, EUR) right inside MyEtherWallet.
Additionally, MEW supports access to dApps via platforms like State of The DApps and offers integrations with crypto debit cards such as EthCard, bridging digital assets with real-world spending.
How to Create a New MyEtherWallet
Setting up a new wallet takes just minutes:
- Visit myetherwallet.com
- Scroll down and click “Create a New Wallet”
- Review security warnings carefully
- Click “Get Started”
You’ll be presented with three access methods:
- MEW Wallet App (recommended)
- Keystore File
- Mnemonic Phrase (24 words)
Download the app from Apple App Store, Google Play, or Galaxy Store if needed.
After setup, securely back up your private key or recovery phrase. Losing this means permanent loss of access to your funds.
Funding Your MyEtherWallet Account
To deposit funds:
- Open your wallet and select “Send Ether & Tokens”
- Choose the asset you wish to receive
- Copy your unique wallet address
- Transfer funds from an exchange or another wallet to this address
⚠️ If your token isn’t listed, use “Add Custom Token” and input the contract address, symbol, and decimal count.
Funds typically arrive within minutes, depending on network speed.
Sending Coins From MyEtherWallet
To send tokens:
- Go to “Send Ether & Tokens”
- Select the token and enter the amount
- Paste the recipient’s wallet address
- Adjust gas limit based on urgency
- Review all details carefully—errors are irreversible!
- Click “Generate Transaction”
- Confirm using your access method (password, hardware wallet, etc.)
Transaction completion time depends on gas price—higher fees mean faster confirmation.
👉 See how fast transaction processing enhances crypto usability.
Frequently Asked Questions (FAQ)
Q: Does MyEtherWallet store my private keys?
A: No. Private keys are generated and stored only on your device. MEW never accesses or stores them.
Q: Can I use MyEtherWallet with a Ledger or Trezor?
A: Yes. MEW fully supports integration with major hardware wallets for added security.
Q: Is there a fee to use MyEtherWallet?
A: MEW itself is free. You only pay standard Ethereum network gas fees for transactions.
Q: What should I do if I lose my recovery phrase?
A: Unfortunately, there is no recovery option without the 24-word phrase or keystore file. Always store backups securely offline.
Q: Can I buy crypto directly in MyEtherWallet?
A: Yes, through partners like Simplex and Changelly, you can purchase ETH using credit/debit cards.
Q: Is MEWconnect safe to use?
A: Yes. It uses encrypted peer-to-peer communication and keeps private keys isolated on your mobile device.
Core Keywords:
MyEtherWallet, MEWconnect, Ethereum wallet, ERC20 tokens, crypto security, hardware wallet integration, gas fees, private key management