Let's begin.
1.Visit MyEtherWallet.com website. You will see the main page asking you to create a New Wallet. Go ahead, Enter your password and click on "Create New Wallet". Please note of your password, if you forget it consider losing all your Ethereum coins on this wallet.
2.You should see the next page, saving your Keystore file. Click "Download Keystore File (UTC / JSON)", save it to your desktop or usb and make a multiple copies if possible.
3.Click "I understand. Continue." then you "Save your Private Key" and Print Paper Wallet. Click "Save your Wallet" when you're ready.
4.You're almost done. Now, let's unlock your key to check if everything is working as intended.
5.First select "Keystore File (UTC / JSON)", click on "Select your Wallet File" to browse your Private Keystore that we saved on Step 2. Your wallet is encrypted, please enter your password created on Step 1. Click on "Unlock". You will see a notice "Wallet is decrypted". Scroll down to check your Wallet Address, for example my Ethereum Wallet Address is 0x2ab80705677FeebDBB8023d997F45833347c1C5C. You can use my Wallet Address to send me a Ethereum coin for tipping.
6.Second option to login to your Ethereum Wallet using your Private Key created on Step 3. Refresh the website, click on "View Wallet Info", this time select "Private Key", paste/type your private key, then "Unlock".
Done. We just created our Ethereum Wallet through MyEtherWallet.com
How to add a Custom Token? Please follow this step by step procedure. This applies to any new cryptocurrencies created on top of Ethereum Decentralized Platform.