MyEtherWallet Tutorial

Feb 10,2018 / By Ben Armstrong / No Comment

MyEtherWallet Tutorial

myetherwallet tutorial We have had such a great response to our Crypto Thursday videos, that we have decided to post more cryptocurrency videos & tutorials. While Thursdays will still consist of videos showing you how to buy specific coins (and additional info about each coin), on Fridays we will be reaching out to other areas of cryptocurrency such as wallets, chart reading info, and more. We are very excited about this and hope that you will be as well.

For today’s video & blog, we are taking a look at a MyEtherWallet tutorial. MyEtherWallet is an online wallet where you can hold any token on the ERC-20 network. The ERC-20 network is better known as the Ethereum Network. While Ethereum is the base for the network, there are several other tokens that are also on the network. Some of these include, EOS, Quantum, Tron, & Internet Node Token. The fact that you can own all of these tokens and keep them on the same wallet is a huge plus to creating a wallet here.

The wallet is pretty straight forward and offers many standard features of a wallet. It offers support for a hardware wallet such as Trezor or Ledger. MyEtherWallet provides you with multiple ways to unlock your wallet after you create it. The two easiest ways are with either the Keystore File the site provides you with or the Private Key the site provides you with. MyEtherWallet suggests using some other methods, but those are the two easiest ways (and most likely what normal investors are using). You are given both of these tools in the sign-up process.

MyEtherWallet Problems

Personally, I love MyEtherWallet. It’s a great wallet, but there are two common problems people run into with this wallet. First, because of the nature of the online storage of this wallet, if you lose your Private Key or Keystore File and are unable to get into your account, then you will indefinitely lose whatever tokens are in your wallet. MyEtherWallet cannot help you to restore them. For this reason, there are warnings MyEtherWallet gives you as you sign up detailing how to protect your account. Phishing is extremely common for this wallet. Just use common sense and you should be fine. The best way to avoid phishing is to only go directly to the site by typing the URL in the address bar instead of ever clicking a link to go to it.

The second problem people have is they have a hard time figuring out how to send tokens away from MyEtherWallet. If you look up on the top right of the wallet, you will see this information:

myetherwallet tutorial

If you are unfamiliar with the Ethereum Network, you may think this is the stock price for gasoline. However, Gwei (or Giga wei), is the fuel that runs the network. In order to send tokens back to an exchange from MyEtherWallet you must have Ethereum also stored on your wallet. It doesn’t have to be much, but you need some to cover the transfer fees for your other tokens. I suggest adding about $10 worth of Ethereum to your account before you ever add tokens. This way you will have your transaction fees covered for a while.

To find out more about this wallet, please watch our “MyEtherWallet Tutorial”. Thanks for reading!

Crypto Thursdays

How to Buy FunFair Coin on Binance

Feb 2,2018 / By Ben Armstrong / No Comment

How to Buy FunFair Coin on Binance

how to buy funfair coin on binance Over the last few weeks, the cryptocurrency market has really struggled to find its footing. Bitcoin has dropped substantially recently and is having a hard time recovering. Still, multiple times it has gone down around $10k and refuses to go much lower. For those of us who believe in cryptocurrency and Bitcoin, this is a dream time to make investments. The price of the coins are dropping because of the destabilization of Bitcoin; not because of their own merits. One of the coins that smart investors are looking at is FunFair (FUN). In today’s tutorial video, we show you how to buy FunFair coin on Binance.

Buying FunFair is actually pretty simple if you already have a Coinbase account and an account on Binance. If you don’t head on over to both of those sites and create an account on both. Once you have logged into your Binance account, scroll up to Funds>Balances at the top of the screen. Once you are here, click Deposit next to Bitcoin on the listing. Copy the Bitcoin address and head back on over to your Coinbase account. If you don’t have any funds, make sure to make a deposit. Once you have Bitcoin in your Coinbase account, click the Accounts tab. From there, all you have to do is click send and then paste your Binance BTC address. Confirm the address is correct and send the Bitcoin over. Sometimes it takes a few hours, but most of the time your BTC will hit your Binance account within 30 minutes to an hour.

But Why Buy FunFair (FUN)

If I purchased any coin that I ever heard someone say they liked, I would have one of everything (except BitConnect of course!). You can always find someone on Twitter or a subreddit that absolutely love virtually any coin out there. Because of that, you must be careful taking advice from people. They most likely have ulterior motives and are holding bags of whatever they are trying to pump to you (pump is a word that means someone is trying to hype a coin just so the price goes up). You HAVE to do your own research. Please, don’t take my advice. Don’t take a YouTubers advice. Don’t take the random cat lady on Twitter’s advice when it comes to crypto… even if she has a cryptokitty. You must investigate each coin to find out what kind of technology it has behind it. The technology is what will give many of these coins staying power.

how to buy funfair coin on binance

FunFair is a coin I like a lot because the technology behind it seeks to solve the problems of the online gambling community. This is a huge market marred by scandals and untrustworthy individuals running online casinos. FunFair is seeking to make all gambling transactions & bets run through the blockchain. This completely guards against cheating. One other incredible feature of this new system of gambling is that players can pull out their coins in real time instead of having to wait weeks or sometimes months for an online casino to pay up. This coin has a lot of potential and is one to watch!