First, it’s important to tell the difference between an exchange and MyEtherWallet (MEW).
Let’s review:
MyEtherWallet (MEW) is not an exchange.
MEW does not hold your information or funds.
The user is in complete control of their security. This means:
If you lose your private key, we cannot retrieve it.
If you forget your password, we cannot locate or reset it.
We cannot reverse or refund any transactions.
If you are phished, the only way for the attacker to get your information is through your own use. We never had it.
We cannot look up your attacker’s IP address or information.
We only have access to the information that is publicly available on the blockchain.
We are decentralized, meaning there are no central servers or powers to control everything. MEW is client-side and acts as a doorway to interact with the Ethereum blockchain. In the same way that a door does not know who’s using it, cannot restore accounts, and cannot hold funds, neither can we.
What we DO offer is freedom and a true sense of security. You gain complete control over your finances and information. You have the security of knowing that even if MEW shut down, you could still access your funds with a number of other decentralized ETH wallet platforms, or even directly on the blockchain itself. You are the only one with your information, and if MEW gets hacked, it won’t affect you.
Because your funds and usage are not stored in MEW. They are on the blockchain, and you access them anonymously.
Once you’ve made the distinction, you’ll be ready to create your MEW wallet. Before you do that, though, we suggest you read through our ‘Getting Started’ category. It contains all the knowledge you need to begin your crypto journey with confidence.
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