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Author Topic: why myetherwallet?  (Read 865 times)
hisuka
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October 02, 2017, 06:51:35 AM
 #21

The most reasons why not on the exchange because most ICO's is not yet in the exchange. However, it is recommended most to use the myetherwallet. Just save private keys and it is secured.

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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, which will follow the rules of the network no matter what miners do. Even if every miner decided to create 1000 bitcoins per block, full nodes would stick to the rules and reject those blocks.
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October 02, 2017, 06:52:04 AM
 #22

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Very basic stuff first. ICO works on the smart contract in correlation with the ethereum blockchain. They have easy implementation on that blockchain. As a part of this they have to maintain the standard of their token to a specific standard names as ERC20 which is relayed by ERC20 supported exchangers or wallets more often. To add this tokens the ERC20 protocol has to be merged with supported wallets and myetherwallet is one of them. That's why use myetherwallet. Oh yeah plus, it is most popular too. ;-)


Thank you very much for THIS answer. I am also relatively new to the game but even I can identify that most of the previous ones where just "educated guessing"

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October 02, 2017, 07:04:17 AM
 #23

Hi,
I am new to this and have a fundamental question: Why do ICOs ask us to send ETH using myetherwallet?
Why can't I send them directly from kraken.com?
Thanks in advance


It's pretty easy to explain. ICO usually asks to send contribution from any your own wallet that supports ERC20 tokens. If you use exchange to make contribution therefore the reward will be send to exchange Wink


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October 02, 2017, 07:05:43 AM
 #24

YOu will loose your token if you use exchanger wallet, it is said in the ICOs that the investors and bounty hunters should use wallet that you hold PV key, exchanger wallet not having pv key, the holder is exchanger host.

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October 02, 2017, 07:09:14 AM
 #25

I 've seen people on telegram chat, saying they sent their tokens from an Exchange.. But some people received their tokens.. I guess is not something you would risk on doing.

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October 02, 2017, 09:19:03 AM
 #26

Myetherwallet is very okay for me, since I can access it via web anywhere.  You control your private keys. MyEtherWallet gives you the ability to generate new wallets so you can store your Ether yourself, not on an exchange. This process happens entirely on your computer, not our servers. Therefore, when you generate a new wallet, you are responsible for safely backing it up.
Yes I agree. I think Myetherwallet is a good wallet in storing your eth and other tokens. But I would recommend using Ledger Nano S if you plan on holding to your tokens.
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October 02, 2017, 09:31:53 AM
 #27

It is very important. Coins can not be taken along with, some time it takes to save, Myetherwallet for the best of storage. And most of the campaigns want Myetherwallet's address. So myetherwallet is needed.

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October 02, 2017, 09:39:37 AM
 #28

Hi,
I am new to this and have a fundamental question: Why do ICOs ask us to send ETH using myetherwallet?
Why can't I send them directly from kraken.com?
Thanks in advance

Because the funds should come from your wallet, not an exchanger, and myetherwallet is one of the best choice for an eth based wallet.
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October 02, 2017, 09:40:40 AM
 #29

Because wallet that supports ERC20 tokens like Myetherwallet that can receive back tokens that we have purchased at ICO, the Ether address in Myetherwallet is the address for Ethereum and also address for all tokens that use MEW platform. While the wallet address Ethereum on the exchange is only for ETH only, so if we use ETH address in exchange when buying tokens during ICO token will definitely lost.

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October 02, 2017, 10:33:06 AM
 #30

Hi,
I am new to this and have a fundamental question: Why do ICOs ask us to send ETH using myetherwallet?
Why can't I send them directly from kraken.com?
Thanks in advance

You cant send them directly to exchanges just because your tokens needs to be sent first to a wallet that the investor control if it is not added from certain exchange. Since it comes directly from ICO, the possibility of it not being listed by the time of distribution is high and that's why it needs to be stored first on erc20 compliant wallet in order to add custom token and hold it there. If it was sent directly to exchange, then they won't credit it in user's balance.
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October 02, 2017, 11:00:05 AM
 #31

Hi,
I am new to this and have a fundamental question: Why do ICOs ask us to send ETH using myetherwallet?
Why can't I send them directly from kraken.com?
Thanks in advance


Well, you supposed to be thankful to that ICO because myetherwallet is a very safe one to use as ethereum wallet address compare you are using eth from the exchange. It is their rules too when you join to their campaign. And I think you don't need to worry anyhow about it.

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October 02, 2017, 05:13:06 PM
 #32

Hi,
I am new to this and have a fundamental question: Why do ICOs ask us to send ETH using myetherwallet?
Why can't I send them directly from kraken.com?
Thanks in advance

They ask you to send ETH using myetherwallet is because they have to send the tokens back to the address from which they recieved the ethers, that's why they say that don't send ether from an exchange and also in case of a conflict or confusion you would not be able to provide enough evidence to support your claim, also don't forget that myetherwallet wallet is one of the best wallet provider for ethereum. And it is always nice to be in control of your funds as the exchanges can be hacked due to a security breach.
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October 02, 2017, 05:17:28 PM
 #33

Hi,
I am new to this and have a fundamental question: Why do ICOs ask us to send ETH using myetherwallet?
Why can't I send them directly from kraken.com?
Thanks in advance


Because you need to add new token (which is created by an ICO project you want to participate), also you have a private key!! if you contributed from an exchange, you dont have the private key nor can add new token!
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October 02, 2017, 06:12:09 PM
 #34

Because you could use myether wallet to store all y our ether based tokens including the Ethereum. It is in cloud and you need to unlock every time to view your wallet using private key that generated first time when you used the my ether wallet.



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October 02, 2017, 09:41:10 PM
 #35

Hi,
I am new to this and have a fundamental question: Why do ICOs ask us to send ETH using myetherwallet?
Why can't I send them directly from kraken.com?
Thanks in advance


because myether very simple wallet and powerfully , indeed we need to be careful in using myether wallet but I think it is not a big problem as long as we know between the original and fake wallet

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October 03, 2017, 03:20:40 AM
 #36

Hi,
I am new to this and have a fundamental question: Why do ICOs ask us to send ETH using myetherwallet?
Why can't I send them directly from kraken.com?
Thanks in advance


myetherwallet is very easy to use, safe (atleast for me) and it support tokens. I am not sure about other Ether Wallet as MEW is the only wallet i have tried so far. And will stick in to this. I will also search for other wallets that are ERC20 and has a mobile application with out sacrificing the security of your funds. Any recommendations will be appreciated as well Smiley

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October 03, 2017, 07:25:49 AM
 #37

Hi,
I am new to this and have a fundamental question: Why do ICOs ask us to send ETH using myetherwallet?
Why can't I send them directly from kraken.com?
Thanks in advance


Because etherium wallets in use in general, and the organizers use it because it is easy to use.

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October 03, 2017, 08:06:38 AM
 #38

Only your own wallet address can control tokens, other addresses cannot

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October 03, 2017, 09:37:07 AM
 #39

My reasons:
- Ease of use, one wallet for multiple coins
- My wallet is under my own control
- Can use it anywhere

It's simple Smiley

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October 03, 2017, 05:37:17 PM
 #40

Hi,
I am new to this and have a fundamental question: Why do ICOs ask us to send ETH using myetherwallet?
Why can't I send them directly from kraken.com?
Thanks in advance

Hello there, There is a reason why most of the ICO's use myetherwallet as a required address. It is because myetherwallet supports ERC20 tokens that can accept their token as payment for the bounty ICO. Therefore you can view your received tokens via smart contract that only myetherwallet are compatible and accessible to this modification. Also myetherwallet is easy and has unique access unlike any other.

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