Myetherwallet review: If you are in the world of online bitcoin sports betting, you must be aware about Myetherwallet.
It is the most popular wallet among Ethereum fans. It supports all ERC-20 tokens which are on Ethereum technology. Here we provide you a quick review of Myetherwallet.
Myetherwallet Review – Lots of flexibility:
MyEtherWallet stores Ethereum (ETH), Ethereum Classic (ETC), Testnet Ethereum, Ubiq (UBQ), Expanse (EXP), Rootstock (RSK), Musicoin (MUSIC) and other tokens and smart contracts based on Ethereum technology.
New Mobile App:
MEW is a web app with a simple design, which focuses on the basic functions for sending and receiving cryptocurrencies. In 2018, the company launched the beta version of its mobile application, MEW Connect.
Based on iOS, the app uses Apple’s encryption standards to ensure security. You can download MEW Connect from the Apple Store.
Security: the weak point:
Is MyEtherWallet safe? It inspires more confidence than many online portfolios and also than several portfolios integrated with exchange platforms, since only you have control of the private key and your passwords.
However, in the case of hacker threats and theft, the MEW wallet is not secured enough. An example was what happened on April 24, 2018, when a hacker took MyEtherWallet users to a page which was very similar to the official one.Hacker stole the funds of several of them. The coup resulted in losses of about $ 152,000 at the time.
Here are the main advantages and disadvantages of this online portfolio:
– Easy interaction with the Ethereum blockchain network
– Good customer support
– Compatible with hardware wallets
– Available only on the web (mobile beta, iOS only)
– Hacker attack target
– Confused interface for beginners
– Hard wallets are not supported by the Chrome plugin
– There are reports of congestion on the network
Conclusion: Myetherwallet Review
MyEtherWallet is especially useful for users who want to have full control over their cryptocurrencies. However, like all other portfolios, MEW is not perfect.
An important issue is how easily your service can compromise. If the Ethereum network has heavy traffic, this can lead to congestion and, as a result, all transactions in the wallet can be idle for hours.