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How to add custom erc token in myetherwallet

Amandeep Sonewane | Mar. 5, 2019
How to add custom erc token in myetherwallet

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.

Being the most popular free crypto wallet, myetherwallet.com web interface, offers its users to either manage Ethereum and other ERC tokens directly or via MEW Ledger Nano S or Trezor interface. In this article, we will explain how to unlock or manage ERC20 tokens received at your MEW wallet that are not supported directly.

How to add custom erc token in myetherwallet

If you send yet to be listed ERC20 token to your MEW wallet, it will be stored at your wallet address, however, you may not be able to find your token in your wallet when you log in to your MEW. You can always confirm your token balance on an Ethereum Explorer by pasting in your Ethereum address in the search bar and clicking on the ERC20 "Token Balance" dropdown menu. 

To manage your new custom ERC tokens and send them out of your myetherwallet address, you’ll need to view your Ethereum private key and use MyEtherWallet to manually add and send your ECR20 tokens. However, if you do not intend to send the ERC20 tokens anywhere, it is always a best practice to leave them stored at your wallet and avoid exporting your private key until necessary.

Once you have your private key, you can open the official MyEtherWallet.com website, which is www.myetherwallet.com. When going to MyEtherWallet, it is highly important for security purpose that you check the URL at your browser and make sure there is an SSL certificate in place.

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:

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. In this example, we're using NESC, so I searched for "NESC" and found the NESC token's contract address. 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. If it stays at 25000, change this value to 75000 minimum, to make sure the transaction goes smoothly. 

Think we missed something? Let us know in the comments section below.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.