March 5, 2019, | AtoZ Markets - MyEtherWallet or MEW is a web-based, non-hosted wallet, where you can control your funds. It is written in Javascript language and is an open-source wallet. Moreover, it is a user-friendly application for storing or transacting Ethereum, ERC20 tokens and smart contracts. But, many new crypto players do not know how to add custom erc token in myetherwallet.
Myetherwallet is the most popular free crypto wallet with its web interface. It offers its users to either deposit and transfer Ethereum and other ERC tokens. You can do it either directly on MEW or via MEW Ledger Nano X (see ledger website) or Trezor interface. In this article, we explain how to unlock or manage new ERC20 tokens received at your MEW wallet.
How to add custom erc token in myetherwallet
You have received the new ERC20 token in your MEW wallet, but you can not see it? No need to panic! Your token is safe and is in your wallet. However, you need to take a few steps. Therefor, you may not be able to find your token in your wallet when you log in to your MEW.
Note: You can always confirm your token balance on an Ethereum Explorer by pasting in your Ethereum address in the search bar. Then, you need to click on the ERC20 "Token Balance" drop down menu.
You need to use your private keys to manage your new custom ERC tokens or send them to an exchange. Thus, if you don't need to send your new ICO tokens anywhere, don't export your private keys. By typing in your private keys online you are opening security vulnerabilities for yourself.
Once you have your private key, you can open the official MyEtherWallet.com website, which is https://www.myetherwallet.com/. When visiting MyEtherWallet web interface, it is important to check the URL at your browser. Check the spelling and make sure that there is an SSL certificate in place.
Note: You can identify SSL certificate on your address-bar. Websites with SSL certificate will have HTTPS instead of HTTP. Additionally, Tthere will be a small green lock sign in your address bar.
Most importantly, always be careful with your private key, as it controls your Ethereum (ETH) and all your ERC20 tokens. And never share your private keys with anyone. Here is the step-by-step guide to unlock new ERC20 token in the MyEtherWallet.
Let's go through the process of adding new custom erc tokens in myetherwallet. The following is the step by step MEW custom ERC token listing guide:
- Open Ethplorer.io;
- Write down your new ERC 20 token name;
- Note/copy the address & decimals of this token.
- In a new tab, navigate to the “Send Ether & Tokens” page on MyEtherWallet.
- Unlock your wallet following the detailed steps below
1. First, click on the 'Send Ether & Tokens' tab in the menu bar of MEW.
2. Click the 'private key' option and paste your private key into the private key box, then click 'unlock'.
Note: Using private keys is not a recommended way of storing your cryptocurrencies. It is highly recommended to use NanoLedger. You can order your ledger by visiting www.ledgerwallet.com
3. This will bring you to the transaction screen.
Scroll down and on the right side of the window, you'll find the 'Token Balances' section. First, click 'show all tokens' and allow a minute or two for MyEtherWallet to recognize your existing token balances. If the token you want to send doesn't display in the token balances section, you'll need to unlock it manually. Click 'Add Custom token' button.
4. To add your custom token, you will need some technical information for your specific token's smart contract. Open ethplorer.io and search for your token's name.
5. You'll need the 'Decimals' value and the smart contract address.
6. Return to MyEtherWallet, and copy/paste the information from ETHplorer.io into the required fields, then hit 'save' button.
7. This will add your new ERC20 token to the list of token balances. And now you can scroll back up, and pick your token from the token selection menu.
8. At last, just enter the address you want to send your tokens to, and the number of tokens to send. The 'Gas Limit' field should fill up automatically.
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