As more and more people are getting into the entire world of crypto currencies, it is important to understand the very best practices for protecting your ether stored on MyEtherWallet. MyEtherWallet (MEW) is really a free, open-source, client-side interface that enables you to interact with the Ethereum block chain. It offers a good way to generate, send, and receive Ethereum tokens without counting on any third-party services or websites. However, it is essential to consider that although MEW is secure and reliable, you must still take steps to guard your Ether from potential threats. Let's take a look at some of the finest practices for protecting your ether stored on myetherwallet.
Generate Strong Passwords & Store Them Securely
The first step in protecting your Ether stored on MyEtherWallet is generating strong passwords and storing them securely. Do not use words that could easily be guessed or related to you at all; instead, choose for random combinations of letters, numbers, and symbols. Additionally, be sure to store your passwords in a safe place – either write them down in a secure location or use a password manager application like LastPass or Dashlane that may offer extra security features like two-factor authentication.
Enable Two-Factor Authentication
Two-factor authentication (2FA) is an additional layer of security that will require two types of identification before accessing your wallet – usually something you know (your password) and something you have (your mobile device). This causes it to be much harder for someone would you not need access to both bits of information to gain access to your wallet. Enabling 2FA on MEW is easy – just enter the settings menu and select “enable 2FA” then follow the prompts given by the app.
Backup Your Private Keys & Keep Them Secure
Your private keys are unique strings of characters used to access your wallet; they will never be shared with anyone as they offer full access to all funds stored within it. It can also be vital that you back up your private keys so that you can restore access if needed – this can be done by exporting them from MEW onto a USB drive or other external storage device that ought to then be kept in a protected location from prying eyes.
Ultimately, taking steps like generating strong passwords, enabling two-factor authentication and backing up private keys will help to keep your Ether safe when stored on MyEtherWallet. Remember that no system is totally foolproof so always practice good cyber hygiene such as for instance regularly updating software packages and maintaining strong anti-virus/malware protection on all devices connected to the internet. By following these best practices for protecting your ether stored on MyEtherWallet , you will ensure that your entire cryptocurrency transactions remain safe and secure!