Author

Topic: Transferring Cryptocurrencies with Private Key? (Read 232 times)

hero member
Activity: 700
Merit: 500
CryptoTalk.Org - Get Paid for every Post!
Are there any scenarios that would make the private key unusable? For example the site shuts down?
You can run myetherwallet github file locally if site goes down but the better alternative is to use other ETH wallets like jaxx, metamask and exodus where you can import your private key directly.

Metamask will also import all your tokens from the address.
legendary
Activity: 1400
Merit: 1009
Are there any scenarios that would make the private key unusable? For example the site shuts down?
You'd still be able to send transactions if you have a correct/working private key. mew is just an client that interacts with ETH blockchain. you can even download mew and run locally and make offline transactions.

https://myetherwallet.github.io/knowledge-base/offline/running-myetherwallet-locally.html
hero member
Activity: 1526
Merit: 596
Ok I created a wallet on myetherwallet.com and have my private key... I was wondering if I somehow lose access to the myetherwallet.com website or its unreachable can I use my private key generated by this website to transfer my coins (ETH) to for example the Blockchain.info website?

Im not sure if thats how private keys work, I tried searching but couldn't find an answer.

If you have the unencrypted private key then you'll basically have access to your coins forever. You'll be able to access your ethereum in your wallet no matter what happens to your wallet file or even myetherwallet, whether you accidentally clean your cookies or not.

You'll be able to use that private key to access your funds, even if myetherwallet is down, essentially. And once you get access to your wallet, you can then send your ETH to blockchain.info, sign other transactions/messages, etc.

You just need to find a wallet that is capable of doing it, like the official eth client or something. Make sure you back up your private keys securely though, you don't want it to be stolen.
hero member
Activity: 1050
Merit: 529
Are there any scenarios that would make the private key unusable? For example the site shuts down?
If you have the private key with you then it will be safe in any scenario, site shutting down will only limit you from accessing it. You can import that private key to any other wallet and use it.
hero member
Activity: 1008
Merit: 537
Are there any scenarios that would make the private key unusable? For example the site shuts down?

Site will not shut down but if happens answer is YES. Generally server data used to erased when they completely shut down it.
newbie
Activity: 100
Merit: 0
Are there any scenarios that would make the private key unusable? For example the site shuts down?
legendary
Activity: 2968
Merit: 3406
Crypto Swap Exchange
Ok if I understand this correctly it wont transfer my ETH coins to another wallet but I will still be able to use and send my ETH coins if I want to using my private key?
Correct.
hero member
Activity: 1008
Merit: 537
Ok I created a wallet on myetherwallet.com and have my private key... I was wondering if I somehow lose access to the myetherwallet.com website or its unreachable can I use my private key generated by this website to transfer my coins (ETH) to for example the Blockchain.info website?

Im not sure if thats how private keys work, I tried searching but couldn't find an answer.

Each wallet have the private key and public key both in the wallet, so you can use the public address to receive the crypto currencies to your wallet since you are using MEW wallet. It can used to receive the ETH and most of ERC20 tokens. Even SHA26 coins has been supported I hope.
 Usage of private key to access to your wallet. For example, if some knows that your private key like your brother or someone else. They can able to check your wallet and transfer it outside.

To use the private key to open the wallet after signed up to the MEW, please use the below instructions.


Wallet&info --- Choose the option as private key --- Paste the private key to the empty box --- press enter to login to your myetherwallet.
newbie
Activity: 100
Merit: 0
Ok if I understand this correctly it wont transfer my ETH coins to another wallet but I will still be able to use and send my ETH coins if I want to using my private key?
legendary
Activity: 2968
Merit: 3406
Crypto Swap Exchange
Ok I created a wallet on myetherwallet.com and have my private key... I was wondering if I somehow lose access to the myetherwallet.com website or its unreachable can I use my private key generated by this website to transfer my coins (ETH) to for example the Blockchain.info website?

Im not sure if thats how private keys work, I tried searching but couldn't find an answer.
Yes, but not by means of transferring your ETH coins to the address on blockchain.info wallet, but instead by allowing you to use those funds from that respective address that you have its private key.
On a side note: It would be best to not import your private key in multiple places (especially an online wallet like blockchain.info), due to security reasons.
newbie
Activity: 100
Merit: 0
Ok I created a wallet on myetherwallet.com and have my private key... I was wondering if I somehow lose access to the myetherwallet.com website or its unreachable can I use my private key generated by this website to transfer my coins (ETH) to for example the Blockchain.info website?

Im not sure if thats how private keys work, I tried searching but couldn't find an answer.
Jump to: