What is the procedure for transferring assets on MEW wallet? |...

What is the procedure for transferring assets on MEW wallet?

Posted 2023-11-10 07:28:27

A Software vendor developed this powerful crypto asset-storing wallet in the year 2015. The company has its headquarters in Los Angeles, USA. With the use of this software wallet company, all the medium and large-sized enterprises involved in the blockchain market were in profit. The platform gave freedom to investors and traders to create their accounts freely on the platform and use the wallet as per their liking on the Ethereum blockchain network.

Beginners who are relatively new to the MEW Wallet might struggle to execute transactions properly on the wallet. Traders who want to learn the proper method of transaction execution should follow up with this blog.

Advantages of MEWwallet

There are plenty of wallet advantages that almost outweigh the cons of the wallet. Below are the advantages of the MEWwallet:

Cost Effective

The wallet is free to use; hence it increases the competition of other wallets. Every person likes to avail of the free services, and if the services are of the strongest crypto wallet, then no one will miss out on the opportunity. So, start storing your digital assets on the platform to enjoy these benefits.

Private Key Generation

Users are in full control of the assets stored in their crypto wallet account and there will be no interruption by the wallet developers in any way. After the registration of the wallet account is successfully done, the private key of the account will also generate for you. This will ensure wallet security.

Transaction Execution Procedure on the Wallet

Let us move further with the procedure of correctly initiating a transaction on the MEW Wallet. You have to follow the steps in the same sequence to learn the proper execution:

Open the website of Ether Wallet.
Click the ‘Access my Wallet’ button.
Choose a perfect method to access your crypto wallet account.
The dashboard of your account will show on your screen now.
Press the ‘Send Transaction’ button on the top left side of the screen.
Click on the drop-down menu button and select the currency you want to transfer.
Enter the transaction amount in the text box provided on the screen.
In the next text box, enter the wallet address of the recipient.
Review the details filled in and then proceed further with the transaction.
Do ensure that your account has enough token balance to sustain the gas fees for the transaction.
Now tap ‘Send Entire Balance’ so that MEW Wallet processes the total required ETH amount for completing the transaction.
In this step, it is up to you to decide the transaction speed.
Press the ‘Confirm’ button.

Hence, your transaction is under processing after the completion of the above-stated thirteen steps and soon you will receive a confirmation message on the screen.

Final Thoughts!

It can prove difficult to choose whether you should use MEW Wallet or not. But you will never know just by reading wallet facts online without even using it. So, you need to use the wallet to formulate your own opinion on the wallet. It’s not like you cannot change your wallet if you don’t like this wallet.