If you're an Ethereum holder or investor, chances are you've been aware of myetherwallet. It is among the most used and secure wallets for storing your Ether. However, there are still some precautions that have to be taken in order to protect your Ether stored on MEW. Let's look at some best practices for protecting your MEW wallet.
Secure Your Private Key
Your private key is the most crucial little bit of information related to your MEW wallet. It shouldn't be distributed to anyone, including friends and family members. If someone else has use of your private key, they can access and assume control of all of the funds in your wallet without your permission. Be sure to keep these details safe and secure by writing it down on a bit of paper or other physical medium, or store it in a password-protected digital file like a USB drive or hard drive.
Back Up Your Wallet
It is also important to back up your wallet often so that when something happens to it, like a computer crash or virus attack, you may have all the data needed to displace it quickly and easily. To back up your wallet, simply export the private keys connected with it by visiting the "Backup" page within MEW's web interface. This may create a backup file which then you're able to store securely offline in the event something happens to your original wallet file.
Enable Two-Factor Authentication (2FA)
Another simple method to protect yourself from online threats is by enabling two-factor authentication (2FA) for any accounts associated with MEW. Which means that everytime someone attempts to login into an account linked with MEW, they would have to enter both their username and password in addition to provide an additional kind of identification such as an email or phone number for usage of be granted. Enabling 2FA can help add another layer of protection against unwanted attempts at accessing user accounts and stealing Ether stored on them.
myetherwallet is among the safest ways out there for storing Ethereum tokens, but there are still some measures that each user should take in order to ensure their Ether remains secure while applying this service. By following these tips—such as for example securing their private key, burning their wallet often, and enabling two-factor authentication—users can rest assured comprehending that their funds are properly protected while they use MEW's services!