MyEtherWallet Review – Which Ethereum Wallet is Right for You?
In the world of Ethereum wallets, finding a platform that provides reliability and transparency can be tough. Established in 2015, this wallet has built a strong reputation over the years. Could its longevity in the rapidly evolving crypto space be the reason behind its reliability for crypto enthusiasts? Keep reading to see if you can confidently manage your digital assets with MyEtherWallet.
| General information | |
| Name | MyEtherWallet |
| Type of the company | Crypto Wallet |
| Regulation status | Not expected |
| Warnings from Financial Regulators | No official warnings |
| Website link | myetherwallet.com |
| Active since | 2015 |
| Registered in | N/A |
| Contact info | [email protected] |
| Trading platforms | MEW App |
| Majority of clients are from | United States, Germany, India, United Kingdom |
| Customer support | Available |
| Compensation fund | N/A |
User Reviews
Evaluating MyEtherWallet reviews, we found a diverse range of opinions reflecting users’ experiences with the platform. Users have shared their insights across various platforms such as G2 and Software Advice, highlighting both positive and negative aspects. With an average rating of 4.0 out of 5 stars on G2 based on 30 reviews, the platform has garnered a mix of feedback.
Among the positive comments, users appreciate MyEtherWallet’s longstanding reputation as one of the earliest and most trusted Ethereum wallets available. However, some users have expressed concerns that have impacted their overall satisfaction. One common issue raised is the comparatively high transaction fees and Ethereum gas fees associated with using the platform. Users note that these fees can sometimes account for a significant portion of their transactions, leading them to explore alternatives like MetaMask.
Despite these concerns, on Software Advice, MyEtherWallet received a higher score of 4.7, albeit based on a smaller sample size of only three reviews. To address these challenges and improve user satisfaction, MyEtherWallet should prioritize efforts to encourage more reviews and engagement from its user base. Steer clear from unregulated brokers that regulatory warnings, such as BitSquared Review.
Additional Feedback – Reddit
A Reddit user questioned whether is MyEtherWallet safe to use, cautioning against its operation with Google Public DNS servers due to the risk of being redirected to a malicious server capable of stealing keys. The user highlighted the importance of ensuring a secure SSL connection when interacting with any website.
Responses from fellow users echoed the seriousness of the issue, with one user expressing alarm at encountering a warning message about an invalid certificate and insecure connection when accessing MyEtherWallet Chrome on Android. Another user recommended using the downloadable version of the site, especially when utilizing a JSON file for wallet access, to mitigate the risk associated with DNS redirection.
These user insights underscore the importance of getting valid data when interacting with cryptocurrency platforms, emphasizing the need for robust security measures to protect users’ assets and sensitive information. For individuals looking to invest in an AI trading tool, check out our Tradytics Review.
Offerings
There is a set of features and functionalities that this versatile platform offers, for managing Ethereum and a variety of tokens and assets. Users can send ETH, ERC20 tokens, and NFTs with ease. Moreover, MyEtherWallet supports additional Ethereum-compatible networks, such as Ethereum Classic, Binance Smart Chain, and Polygon.
In collaboration with leading cryptocurrency services, MyEtherWallet facilitates easy crypto purchases and swaps through partners like 1inch, Changelly, Bity, and Simplex. Users can buy ETH directly within the wallet, and swap ETH for ERC20 tokens, BTC, and more.
The platform also boasts a robust DApps Center, enabling users to explore decentralized applications and fully experience Ethereum’s capabilities. In terms of token management, MyEtherWallet automatically supports most ERC20 tokens through its API, while also allowing users to add custom tokens to their interface as needed.
MEW App – Features & Ratings
Researching its offerings, we found that the official MyEtherWallet app offers a seamless entry point for users venturing into the world of cryptocurrency. Notably, users can purchase MyEtherWallet crypto directly within the app, utilizing their bank card or Apple Pay for added convenience. Emphasizing security, the app prides itself on being a true non-custodial Ethereum wallet, ensuring that users retain full control and ownership of their funds.
In terms of MyEtherWallet download, it’s available on both Google Play and the App Store, members can simply log in, while new clients have MyEtherWallet sign in available. The best evaluation of the app’s features is the user experience with the app, as reflected in the ratings and reviews on the App Store.
With an impressive rating of 4.6 out of 5 stars based on over 5,000 ratings, the MyEtherWallet app has garnered attention from users. Despite occasional negative feedback, such as claims of scams or import issues, the majority of users have expressed satisfaction with the app’s intuitive interface and ease of use.
Browser Wallet
In addition to the versatile MEW app, users can enhance their crypto experience with the Enkrypt Browser Wallet extension. As does the app, the extension holds all the features of the wallet. Enkrypt simplifies the management of digital assets across various blockchains. With Enkrypt, users can hold, buy, send, receive, and swap tokens, and it also offers NFT management.
Users can switch accounts and blockchain networks, eliminating the need to set up multiple wallets for different chains. Since it’s a browser extension, it allows access to web3 applications, making it easier than ever to explore the decentralized world. Available for browsers: Google Chrome, Firefox, Brave, Microsoft Edge, Opera, and Safari.
Buy & Sell Crypto
With straightforward access, users can effortlessly navigate through the process, starting by specifying the amount they wish to spend in their preferred currency, whether it’s USD, EUR, JPY, AUD, CAD, or GBP. The platform provides a transparent breakdown of the cryptocurrency they will receive in return, including popular options like Bitcoin
Ethereum, PayPal USD, Tether, Dai Stablecoin, and more.
Accepted payment methods include Visa, Mastercard, and Apple Pay, ensuring flexibility for users. Additionally, the platform boasts increased buy limits, allowing users to transact anywhere from USD 50 to USD 20,000 for their first transaction and up to USD 50,000 monthly. Once users have confirmed their purchase or sale, they can specify where they want their crypto to be sent, ensuring full control over their assets.
Final Take on MyEtherWallet
To sum up, MyEtherWallet has demonstrated its reliability and versatility as a platform for managing Ethereum and other digital assets since its establishment in 2015. Its long-standing presence in the crypto space and features have earned it a trusted reputation among users.
However, given its lengthy operation, one might expect a more substantial volume of user reviews. While MEW generally receives positive feedback, the mixed opinions can be confusing. Yet again, the wallet is free, so users can explore various reviews and conduct more data to ensure the wallet meets their requirements before committing.
FAQ
What is MyEtherWallet?
It’s a free, open-source interface that enables users to create wallets, manage their Ethereum and ERC20 tokens, and access DApps, launched in 2015.
Is MyEtherWallet Safe?
We would say it is. Its operation goes back to 2015 and the usage is free, the only drawback is the lack of reviews and the safety largely depends on the user's practices.
How Does MyEtherWallet Work?
It functions as a gateway to the Ethereum blockchain. Once set up, users can manage their Ethereum and ERC20 tokens by sending and receiving funds, viewing transaction histories, and interacting with smart contracts.
