MyEtherWallet, otherwise referred to as MEW, is a completely open sourced client sided software that is free of charge for any and everybody looking to store and interact on the blockchain. The interface grants the user full control over their keys and cryptocurrency funds.
When joining the website, you will immediately find the “Create New Wallet” page. Here you can simply create a password and boom, your wallet is ready for service. Of course, you will need to record your private key somewhere as the password is only client side and does not, on its own, grant access to the wallet.
Of course, MyEtherWallet is offering a decentralized wallet function, which means keys cannot be accessed by MyEtherWallet and they cannot be recovered in case the private key is lost.
Moving off the website and onto the Chrome web store, you can download the program here.
The Chrome extension manages wallets via your web browser but is completely client sided. This allows you to save your wallets on your browser for convenient access but still gives you the reigns to its security.
- Incredibly easy to use and convenient for storing wallets on the browser. This allows easy access and management while using blockchain related technologies.
- MyEtherWallet doesn’t assume any responsibility for security and strongly urges the user to take precautions on their own. Although not a direct con for the software itself, this may be difficult for new users to understand, leaving potential holes in their security due to lack of experience and knowledge.