Hello experts,
I have four questions:
1) How do I know if certain coins/tokens are supported by MEW and therefore I can store them in that wallet?
2) Do I need to back-up the JSON file everytime after I send new tokens to the wallet?
3) Is there a private key or something like that in the case I would lose the JSON file? (It is safely stored though)
4) Why would you use a hardware wallet instead of myetherwallet? (given that you only have coins that are supported by mew)
Thanks in advance,
Crypto622
I have four questions:
1) How do I know if certain coins/tokens are supported by MEW and therefore I can store them in that wallet?
2) Do I need to back-up the JSON file everytime after I send new tokens to the wallet?
3) Is there a private key or something like that in the case I would lose the JSON file? (It is safely stored though)
4) Why would you use a hardware wallet instead of myetherwallet? (given that you only have coins that are supported by mew)
Thanks in advance,
Crypto622
Use meta mask for fast and safe. (MetaMask is a browser extension that allows you to access your wallet quickly, safely & easily. It is more secure because you never enter your private key on a website. It protects you from phishing & malicious websites.)
Good luck buddy
I also agree with the above comment, Metamask is a great tool where we can hide our private key behind another layer So that we are protected against phishing or other types of attacks.
and for your 4th question, normally all the exchanges and web wallets are just like servers and those can be hacked. so that we cannot guarantee that out wallet is safe, Therefor using a hardware wallet is the safest way to store out cryptos for longe term. specially if you have big amount of crypto currencies.