MyEtherWallet allows users to store their digital assets offline in a hardware wallet. MyEtherWallet is generated online via the MEW Software, but in itself, it is not an online wallet. MEW was launched in 2015, and very soon, the Ethereum platform rose to its popularity attracting around 1.2 million users every month during the ICO (Initial Coin Offering) boom when crypto startups raise funds via issuing ERC-20 tokens. MEW Wallet brand itself as “Ethereum’s original wallet that is secure, intuitive and the prettiest way to manage Ether and ERC-20 coins and tokens”. However, the wallets generated from this software can be used to settle various blockchain transactions, including those required in the crypto trading processes.

MyEtherWallet is not an exchange for cryptocurrency trading it is only an Ethereum blockchain where users can generate the cryptographic keys and Ether wallets that are required to buy, store, and transact Ethereum coins and tokens. MEW eliminates the risk of storing crypto holdings in online wallets, but then it puts a question on the safety of how safe the user’s personal computer is where the crypto holdings are held.

My Ether Wallet is also sometimes referred to as a ‘paper wallet’ because its private key is stored offline and therefore requires the users to print the private key on paper and keep it in safe places.

Etherwallet key cracker