Would you like to create an Ethereum cold wallet on MEW? A cold paper wallet is an option for crypto storage when a user has no intention of managing or interacting with a wallet for an extended period of time. This kind of wallet would be utilized mainly to collect the accumulated balance of ETH and ERC20 tokens sent to it, and would no longer be a cold wallet once the keys were used in an Ethereum interface online.
The most recommended method of creating this kind of cold wallet (paper wallet) would be through the MEW wallet app using a recovery phrase, however, it can also be achieved on MEW web using a private key. While the private key method is an option, it is less secure than the recovery phrase method with the MEW wallet app and isn't advised.
Already have a cold wallet that you’re trying to access? Go ahead and check out the following article for guidance:
To create a cold wallet using the MEW wallet app
Please keep in mind that the MEW wallet app is a non-custodial wallet and does not collect any of your personal information. The app generates private keys securely on the device so MEW has no access to them. For more information about that, go ahead and review the following articles:
To create a cold wallet, first download the MEW wallet app HERE, then:
Open the MEW wallet app and click ‘Create a free wallet’.
Make sure to read the safety tips! Then click ‘Create a wallet’.
Create and re-enter a PIN then wait for your account to generate.
Select ‘Start Using MEW wallet’.
In the MEW wallet dashboard, go ahead and click to back up your wallet. This is where the recovery phrase will be provided for you to write down.
Please note: This step is crucial if you plan on using your wallet in the long term. We cannot recover your account for you, so you must keep track of this information yourself.
Select ‘Back-up now’ then grab a pen and something to write on.
Click 'Start' then write down the 24 words that appear.
Keep these words in the same order as they appear, and double-check that they’re all spelled correctly.
Best practices would be writing this phrase down 2 - 3 times on separate sheets of paper, stored in multiple secure locations.
Take a quick test to verify that the words were written down correctly.
When done, you’ll be taken back to your MEW wallet dashboard. Here, would be the best place to copy down your wallet’s public address. This address is needed to send ETH and ERC20 tokens to your wallet.
When done, delete the app from your phone.
Please keep in mind that when doing this, all information is removed from your device and can't be restored for you by MEW, so be sure that you wrote everything down correctly before deleting.
Please note: The recovery phrase is your key to the wallet and is enough to restore your wallet anywhere. Extraction of individual private keys from phrases is not secure. For more information about that, go ahead and see the following links:
Until you’re ready to access that wallet again, feel free to send crypto to your wallet's address at your leisure. You can always access your wallet’s balance by searching for the public address on a blockchain explorer, like Etherscan.io.
Whenever the time comes for moving your assets and you’re ready to restore your wallet in the MEW wallet app or any other interface, you can do so using the recovery phrase given to you.
To restore or access the wallet on the MEW platforms, go ahead and review the articles below:
Still want to create a cold (paper) wallet with a private key?
In order to create a cold wallet to obtain your private key, users would first need to create a new wallet on MEW web via Keystore file or Recovery phrase. Please keep in mind that this method is not recommended because using your wallet's private key directly online makes your wallet more vulnerable. Because of this, many Ethereum wallets are removing direct access by private key (instead of recovery phrase). When the time comes to access your wallet and manage your assets, MEW only recommends doing so offline – see the articles below for details:
To get started:
Visit our website at www.myetherwallet.com then click on ‘Create a new wallet’.
Feel free to also take a look at our guide: ‘How to Create an Ethereum wallet with MEW web’
Select to create your wallet using a Recovery phrase or Keystore file.
Keep in mind that creating a wallet using a Keystore file doesn't guarantee future access to your wallet on other platforms.
Make sure to write down your 12 or 24-word recovery phrase or Keystore file password.
Recovery phrase: Keep these words in the same order as they appear, and double-check that they’re all spelled correctly. Best practices would be writing this phrase down 2 - 3 times on separate sheets of paper, stored in multiple secure locations.
Keystore file: Make sure to write and save your password somewhere safe. Also, be sure that the UTC- document is saved in a place where you can easily locate it. (Users can also try searching files for ‘UTC-’).
When you’re done creating the wallet and you’re able to access your MEW dashboard, go ahead and view your paper wallet to see and print it out. This paper wallet will show your wallet’s public address and private key.
For more guidance on doing this, please see the ‘Finding your Private key'.
You’re all set! Until you’re ready to access that wallet again, feel free to send crypto to your wallet's address at your leisure. You can always access your wallet’s balance by searching for the public address on a blockchain explorer, like Etherscan.io.
If you have any questions, feel free to contact us at email@example.com. We’ll be happy to help.