Bitcoin Forum

One of easiest way to create and access Ethereum and erc20 token is MEW web interface. My question is , is it safe to keep big amount in MEW or better not to rely on it.

As far as i know and based on my research throughout the forum, keeping a huge amount of cryptocurrency on a web application is not a good thing in security (and some other) aspect.
However, the accessibility and features that a web app wallet given to you is considerable.

Although, I've never used MEW before, but I use MetaMask for my ETH wallet, and as far as my experience right now, I could say it's pretty safe. Although, I'm considering to move into desktop wallet, something like Electrum but for ETH.

Since you asked if is it safe to keep big amount in a Web Wallet App, well it depends on the app itself, but if you really want that extra oomph of security, I suggest you to use desktop wallet instead.

For really high amounts of any digital asset (Bitcoin, ethereum, etc), you will be much better off keeping it in a hardware wallet like Ledger, where it would be completely off the internet. This offers more security and privacy, reducing the exposure to hacks.
Ensure you're buying from the right source and check the device to confirm it hadn't been tampered with.

To monitor transactions and address balance, you can use a watch-only wallet.

No wallet are safer than hardware wallets and coins stored on airgapped devices. Also multisig wallets are safe but I do not know if ERC-20 tokens support multisig, and also the issue of high transaction fee. Myetherwallet is a web wallet. There are three types of o line wallets, they are:

1. Web wallet
2. Mobile wallet (Phone apps that are wallets)
3. Desktop wallets

Online wallets are more vulnerable to attacks, while out of all these online wallets, web wallets are most vulnerable. I will recommend hardware wallets but if you are expect enough to not mistakenly install malware on you wallet device, myetherwallet can also be good while also protecting yourself from hackers. But, I can not recommend this type of wallet, I will prefer hardware wallet like trezor and ledger nano.

Metamask wallet is also a web wallet and web wallets are most vulnerable to cyber attack.

I do not think there is any electrum-like wallet that support ethereum and ERC-20 tokens, but you can get a hardware wallet like trezor or ledger nano and use electrum to operate it, it will support Bitcoin, ethereum, ERC-20 tokens and many other cryptocurrencies.

For high amount and holding, online wallet should not be suggested. Hardware wallets and wallets on airgapped devices are the safest. Airgapped devices can be difficult to use, buying hardware wallet will be the best alternative.

No, it's not safe. MyEtherWallet, the web wallet version is one of the crypto websites/wallets with the most phishing clones out there.

Just search "MyEtherWallet" in this website (https://www.cryptoscamdb.org/scams) and see how many phishing sites come up.
I think around 2018, MEW's domain serve got hijacked by hackers (https://coinpedia.org/news/myetherwallet-dns-server-hacked/) and unsuspecting users got redirected to phishing site. Some users lost money during the Hijack.

MEW is safe and reliable.  During my time using and starting alt with the immense momentum of ETH, MEW was the simplest, more professional, customizable, flexible, and secure I know of.  There were some issues with MEW as well, but it was well fixed.  MEW is the wallet I store more permanently.  However, because of the need for fast liquidity and timely response, some exchange / swap integrations with wallets such as Trust, imtoken need to be developed on MEW (mobile).

No! For sure.
I say this from personal experience. Only a hardware wallet.
If it's happened that you must use MEW, use it very carefully and try to be safe as much as you can. Do not use any remote management software (Teamviewer etc...) on the same machine, use key scrambler, do not use the same browser for other things over the internet. Even if you think that everything you do is safe, the wrong click on the link in the email is enough.

I've been keeping some of my ETH on MEW but if it's about storing a huge amount, that's entirely another story. You shouldn't rely on it but instead just buy a hardware wallet that you can trust, Ledger or Trezor. You're paying for the quality and security of your money and there's no need to regret for upon purchasing one. Some holders tend to think that it's not worth it to buy hardware wallets if they can keep them somewhere like MEW but it's about the big money you got that must be protected.

MEW allows you to create a wallet to store ether and ether tokens. It is mainly for the advanced users who know and understand the risks that can be involved with using a online wallet and having to unlock it using the keystore JSON and password online.

If you a newbie to ether wallets, I would suggest not using MEW for now. There are many android wallets available out there, use them.

The biggest problem with MEW is that phishing sites exist and if you accidentally use the phishing site and send your coins there - you will lose the money. The problem was maximum during the ICO hype when telegram channels of ICO projects got filled with phishing versions fo MEW sites or the ICO purchase site.

These scammers still exist and though cases are reported here in lower frequency, there is always the risk. You may wish to bookmark the correct site and use MetaMask extension if you have to use MEW for any reason.

It's safe as long as you can keep your key in the safe place. I recommend you to use mycrypto.com instead of mew wallet as you can also use it on your desktop. Desktop wallet is available and you can store your money offline. You can also create your paper wallet too through use this desktop app. I have been using it for a few years.

If you create the wallet there is safe as long as the website is not phising or fake one, also the way to access via web wallet is not safe.
If you create wallet via MEW, don't use MEW to access it, use another wallet. There's a reason for that and some people already explain it here. The biggest reason is there's a lot phising website about MEW out there.

If you still not sure about creating wallet on MEW, then use another wallet instead. There's a lot better option out there.

It's a very bad decision to keep big amount on MEW wallet. it's better if you can find another wallet that was providing very good security for your money.
MEW is lack of protection for your money. It's better to use another wallet.

Mew is safe as long as you are only taking the paper wallet that will be provided by MEW when you are creating a new wallet. You can also try to use exodus, but when you are storing a lot of money and desktop or mobile wallet is much more preferable.

You're the only one that can answer that, MEW is one of the most targeted by cyber criminals through phishing, if you don't know how to practice safe security hygiene so you are going to lose you tokens their. So it's really up to you, MEW is generally safe, as far as personal experience. But if you really wanted to keep huge amount of money, it's better to get a hardware wallet.

if we are talking small amount ? yeah it is reliable because i am also having some of my altcoins in erc20 wallet .
But those not so very important coins of mine , because those coins that i Hold for safe keeping remains in my More secured wallets Like Ledger.

But like what the First posts says. Keeping your funds in wallets that you don't owe the Private Keys is never been safer, so Only those shitcoins or not so very valuable coins will be on your ERC20 wallets.

If you're going to store some serious amount in the wallet better avoid using web wallets even though they're convenient and a lot of people including myself have positive experiences with it anything can still happen. If security is your biggest priority then getting one of the hardware wallets is the way to go or splitting your coins in different wallets could work too but it's inconvenient.

No, it is not safe to keep the big amount in MEW. You better select the other wallets that support your coins. But if you still want to keep that tokens in MEW, you need to save your private keys or the other things you used to log in. If you can sell the token, it is better to do that before the price is down, so you can have ethereum in the other wallet, which will give you more profit than the token.

Its safe and so far all of my coins we're intact nor lost in my wallet since i've start on this market.Just be sure that you wont really commit mistakes.

-Stay aware with phishing sites because there are tons of them.
 specially if using google search.

-Dont share up your keys or phrases no matter what.

-Dont click out links to avoid malwares.

I do also agree with others recommendation but talking solely on MEW then i can say that it is safe.
Its up to someone on how to they do keep their keys safe.

I might have to disagree with you somehow on keeping your crypto on a web wallet especially if it's a big amount of money, although just like what you have said it all depends on someone on how they would manage to keep safe their private keys. Or use something like a Ledger to keep their big amount of ETH and write a back up keys for their wallet. It's safer to keep it your own crypto off the internet to avoid of being stolen or getting hack.

So basically keeping your money on a MEW web wallet is totally safe as long as no one knows your passphrase but it also depends on a person of how well they were going to protect their own money/crypto in a web wallet.

Mew wallet is very good wallet for storing token. They support swap options also there.
Worst side is that it does not support dapp browser. I have list one nft there.

If you know how to use it safely MEW then it's safe. I am using MEW since the beginning of my journey in the crypto industries. It's still fine to me, not yet faced any critical issue with MEW. You just need to store the key in a safe place. It would be nice if you not store your key online. Also when you are tried to log in to your wallet, try to use a fresh browser. Fresh means private window, when no addon activated. A few years ago a lot of people lost their funds because a VPN read their private key. 

Yes, and No.
MEW had been the the safest for saving low amount of coin as long as you keep your keys in a safe place, back then, MEW offers two ways of accessing your account, keystore files, private key which you must actually keep offline. Also, there are phishing links that impersonate MEW and you must be careful when entering the site, airdrop that promise to pay participants uses that to steal users private key by telling them to sign a message with ok before they claim the token.

Also, MEW is a web wallet which sometimes would be vulnerable to attack easily, since hardware wallet is more expensive to purchase, I would suggest to you having a good software wallet like the trust wallet, where you can save higher amount of money. Choose your choice.

I wouldn't keep it for storing tokens. I'll still choose hardware wallets over it or those desktop apps that token has. But if the amount isn't a lot you can keep it, as long as you're keeping any of those:

• private keys
• mnemonic phrase
• keystore file

The strategy depends how you'll keep and maintain those. I've seen several posts about they've lost those and they can no longer access their funds sitting on their MEW account/wallet.

I would say its safe and ive been using it since year 2017 when ICO made up some hype and now im still storing off those coins without any problems.

Just be sure that your keys are safe too and just like others mentioned that its up to someone on how they would take care of those keys.

Once you lost it or been seen by other people then those coins are at risk of being stolen.Nothing is safe though but this is one of the most common
storage when it comes to erc20 token based.

I think for a long time now, MEW has proven to be secure at least to the best of my knowledge, I am yet to come across any type of data breaches or hack on MEW , although I stand to be corrected in this aspect. Also, talking about MEW, I believe you can create the wallet from the web interface, then import the wallet to other wallet applications like Imtoken for easy accessibility and also to be safe from phishing website, either way you will still be retaining the security of your assets in as much as the private keys are safe. Also, talking about huge amount of assets, you can go for a hardware wallet, as it has proven to be more secure, but if you are still a fan of MEW,  then create different wallets and spread the assets in them but most importantly, store your private keys in a secured place.

You can safely store your Ethereum and erc20 token in MEW wallet on your mobile. Also if you use desktop/PC, you can store your currency in Meta Mask. Both MEW and Metamask are safe and better than any online exchange wallet because you have full control over the private key.
However, if you have very huge amount of ethereum, than it is preferable to store your crypto in hardware wallets.

MEW never save your money, it just an tools to interact with your wallet in the Blockchain.
Just make sure when you access your wallet with Private Key or anything else, you connect to a Correct MEW site, make sure its https and the domains is correct.

I recently Installed the MEW app (ios) On my Phone and it is working perfectly well, According to security, it is like any other address provider saying that we do not have your keys, "if you lost the password we cannot recover it", That is much because the hacker cannot retrieve the password from email or anything associated with your account but the most secure wallets are hardware wallets which are not attached to anything and far from the internet. I use MEW wallet for some tokens transactions and never had an error.

Regards

This is the very first web wallet I used where I stored all the tokens, at the same time the Blockchain I tried for BTC, that was really a recommendation then and there are not many other wallets, now there are many.  It is still safe today as long as you always make sure that the link you are visiting is correct.  Until now I still use it, but I now use their mobile app along with other non-custodial wallets.  Just do not forget to back up the copy and keep your recovery phrase safe.  Do it right away when creating your account because you might forget.

KEYS.

Now that ends up for the users themselves to make it secure. Sometimes, being scammed is mostly the user's fault and not the wallet or platform itself. An internal breach can happen anytime even with the most protected and secured wallet and that's the only time we can blame the wallet.

Overall, using MEW is "safe" but it doesn't mean users need to rely solely on it.

https://notyourkeys.org/ - This subject is for BTC but the idea can be applied in general.

The password for the MEW wallet is actually the passphrase and if you lose that passphrase you will not be able to recover your coins forever. Also if someone get holds of your MEW Wallet passphrase , you will lose all your funds. Using MEW is 100% safe but at the same time you have to keep notes of these precautions.

I doubt the hacker will deplete those tokens because of the current fees. :D The hacker will spend more on that case.

But seriously, MEW is totally safe. We are the ones who aren't making it safe due to some human error or possibly got caught on a scam trap. Treat our keys like how we protect our exchange account, bank account, or any financial accounts. For newbies, there are lots of safety measures being shared on the internet. Take time to browse those.

MEW now are upgraded and their security is really tight now , actually old users are now seeing it very difficult to use not like the older version.

MEW had been through couple of hacking issue that's why they are making their best to keep the platform safer for all users.

If you can protect your MEW account, it is safe to store your ethereum and erc20 token in that wallet.
But you should not forget that the hacker will try to search for the bugs to penetrate the MEW wallet and steal your tokens.
To avoid that, you should move your token, and sell the coin will be better if the price can reach the high price to transfer your ethereum to the other wallet.
I do not want to store a big amount in MEW because I am afraid of the hacker, and I think it would be good to get it on a separate wallet, which we can know is safe.

If you have big fund in your wallet that need to transactions and login others website then using mew with metamask is less safe to you.sometimes recheck the domain name, couldn't safe you from most of phising site.so you should buy hardware wallet like trezor, ledger.make sure the stickar or logo of that divice packet remain intake.i recommend don't use that given phase on your wallet.rather reset the phase of your wallet, that could safe you from hack and makes you relax

I have not had any problems with using meta masks, and if you are an active in this market you will find that it is very reliable. Using Metamask you get a simple, easy-to-use interface with a very secure encryption identifier.

It should be all in one wallet. Any wallet is safe as long as the user can keep their sensitive data privately that can be accessed by others. The majority of hacked cases happened due to the users can't store their sensitive data privately.
Mycrypto should be a better choice rather than MEW.
I think that we should back again to the how safe MEW is and that depends on the user itself. MEW is only providing the wallet to the users.

no Doubt that MEW is really a one of the best wallet for Ethereum platform users and i must admit that i am using this for long now.

But for small amount of storing only because i have witnessed the hackings happened to this site years back and i am afraid if there is another great hacker to invade their system again who knows?

MEW is one of the most used wallets in regards to newly created tokens/coins and for me this is also the most popular .
Their security in the past is somewhat weak that's why they have experiences some hacking but they recovered and now strengthen their security that even Old users find it hard to use now  ;D
But regarding the question if this is safe? as long as you are hiding your keys then you will be safe using this or even other wallets.

I've never use mew wallet before but if it's an online wallet stay away because they can easily get hack it better to use mobile wallet that gives users their private keys or recovery seeds do not use any online wallet that operate with username and passwords also if you can afford the money it is better to buy hardware wallet there are hundred percent safe unless you reveal your private key for the hardware wallet

since 2018 have kept huge amount of ETH in my trust wallet and nothing happened to my assets so mobile wallet is a good choice too if you can keep your private keys very safe

first of all you need to understand what Mew actually is. MEW is a tool to allow users to create and load (open) their ethereum wallets. but mew itself does not control your wallet, it doesn't store your private keys.  and the coins/tokens you view in your wallet using mew interfact are not stored in mew. but they are stored in your wallet and in your private key..

now about safety of using mew. yes it is safe. it provides you a lot of possiblities to load your wallet. it always gives you the warning to not load the wallet using your private key. always use ledger, metamask or a third party tool to load your wallet. so yes. mew is very safe

I use MEW only for transactions but it also depends on each one because now to send ETH or tokens, there can be many things including applications, but at the core, your private key, SEDD, is the most important phrase you keep safe because only you are the one who know about then i think it's very safe.

As @ATriz said now a lot for ETH storage from Ledger, Trezor etc depending on which one you prefer but all of that very secure and we only differentiate which interface is preferable.

MEW is also an online wallet. I use it as my first wallet for ETH and ERC20 tokens way back in 2017 and until now using it for storing some of my funds. Your wallet will not get hack if you know how to keep it safe and protected especially the keys and seed phrases. Being victimized by phishing sites or fake sites are those accounts getting hacked.

And now, you are right about the Trust wallet which I also used more often. Because it supports almost all coins, tokens, erc20, Tron smart contracts and etc.

Actually depend on you, if you store all access to open your MEW secretly then your asset will be safe there. There are at least four ways to store your asset in MEW and I think just only one that will be safe, you can use hardware wallet to store your coin. Yeah hardware wallet is really recommended to store our asset because just only us who will know all stufd to access our wallet.

Because if you use sofware wallet as an example, this way using private key that you have to save this prikey secretly. When you save the prikey in your pc even your phone then there still a change for hacker to hack your pc/phone and take your prikey to access you MEW wallet and I think this is not recommended to you. Also, I haven't seen a case that the MEW wallet has been hacked.

You are definitely right on what you had said that MEW is safe as long you do know how to keep those keys in safe place or out from other people.
Im using this since i get involved in crypto market and on the time with ICO too where most airdrops are erc20 which i didnt lost a single coin that
i have received even up to now.I do keep those keys on safe place offline and some are on an usb drive.Trust wallet is also a good option too
and ive been using both things which i can recommend.

Never Let Big amount stays in Wallets that you don't Own your Private keys so it is not that safe either.
Why not instead of MEW use a LEdger wallet that you can be 100% sure of being safe.

and besides if you have big amount of currencies/tokens then better diversify them all to multiple wallet for more safer hiding , at least if one chance you become a target of hackers then at least only one of your funds will be at risk.

Mey Ethereum wallet is safe and secured but when it comes to saving huge digital assets, it is advisable to use paper wallet or hardware wallets.

Sorry but I don't recommend MEW, It's been 3 times that my MEW has been hacked. At first, I thought there is malware on my computer, and my account has been breached. But even I reformat my pc and register for a new MEW wallet it still been hacked. Much better to used trustwallet or metamask. Even huge amount is secured with trustwallet and metamask.

Mew have warning that this is not recommended to use if you want to access them by their private key method so you are prone for hacking if you choose that option so better find another alternative like metamask or invest on ledger since this is more safer if you want to store your tokens.


https://i.postimg.cc/zvYdnv1N/Screenshot-20210222-190502.png (https://postimages.org/)

How much is it ? more than 10k$ worth in token ? Try to buy hardware wallet to make sure your funds is safe but as always there's no safe storage if you can't take care of it from phishing or something that make you share your private keywords.

I'm using MEW for a long time. It is safe and secure but you if want to store huge amount of money then you can select hardware wallet. Because hardware wallet is muvh more secure than paper wallet.

It is safe as long as your private key is not stolen. It's better to choose a hardware wallet that is considered to be even more safe and secure.

Hardware Wallets

• BitBox02
• Coldcard
• KeepKey
• Ledger Nano S    
• Trezor Model T
• Trezor One

hardware wallets (https://bitcoin.org/en/wallets/hardware/?platform=hardware&step=5/)

I think myetherwallet is safe to hold even big amount of ethereum just be careful in your private key if you are going to hold a big amount of ethereum there, maybe its better to put it in hard drive like external hard drive to secure it from hacker.

There are Hacking happens in My Ethereum Wallet in the past and I know these become a Bad record for MEW users, But after those the Team created a tighter and safer environment and now I'm sure that you can use this freely and safer.
But of course be aware of the Fake sites because there are some Phishing sites created like MEW platform so make sure that you will Not fall as a victim and will Blame the legit site in the end.
Don't say that i did not warn you.

MEW is safe,,, people who run into trouble with it usually have compromised browsers then any app you use especially web ones are basically all leaking your password.

Never tried the app itself now am just stuck on Metamask extensions. The easiest thing to use and I do not see why anyone would change.

But question is answered. MEW is safe as it gets.

Dont have any problems on using MEW since ive been using this through ages. As long you do know;

-Keep those keys out of others awareness
-Dont tend to leak it out via downloading randomly in the net which would result into malware.
-Dont rely on google search results- you might get phished.
-Always ask out if there is some hesitation towards your decision.

Wallet could really be safe if you are really that sensible and responsible.

Even the majority of the member here in the forum said it is not safe anymore, I think I am not the only one believe on this matter. Because until now I am still using mew for a couple of years and yet so far I don't encounter any such suspicious things using it. Maybe for others it is not safe because some are not careful and became neglectful in keeping their private key something like that.

Most of them have been trapped by phishing scams and their money stolen. Because of lack of knowledge on their part they put the blame of MEW being not safe. However this could be prevented by some steps which veteran users already know. You cant help them if they dont take the advice.

Using a bookmarked MEW website, using the Metamask addon on your browser - these two steps take a long way for saving a user from being robbed. Additionally keeping their private keys safe and they should be all good to use MEW as a wallet.

Still if someone is very concerned, I suggest them to use a hardware wallet.

This is exactly what I was pointing out in my response yesterday and people need to understand this when using anything online,,, not just a crypto wallet. The cryptography and security of the blockchain has not been hackable yet. At least not for ETH and not for BTC.

But if you have very poor security as a user online (Google search is the worst habit of all),,, then you always get hacked.

I used to say MEW was safe when my wallet account had not been compromised.  But just 2 weeks ago when my tokens were stolen, I can't say it's safe anymore.  Maybe you're saying it's still safe because it hasn't happened to you yet.  I understand that I have not been very careful to access it online using a web browser using my private key even though I know this method is not recommended but I continue so it's my fault.  This wallet is most prone to hacking ...

There are lots of scams targeting MEW ERC20 wallets and coins. Be careful, If it sounds too good, Do your research and find reviews and others people's experiences. Don't fall into the trap of "guaranteed mining results." GPU mining can be very profitable if done correctly.