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Cryptocurrency Wallet | Tutorial on How to create your own Cryptowallet

August 19, 2018 No comments
In the crytpo trading, you must have your own wallet for your cryptocurrencies. A cryotocurrency wallet stores your private keys so as your public keys. This wallet can interact with the blockchain in order to see the status of the cryptocurrencies. This is very essential since this is where you make and receive your transactions. There are numbers of downloadable wallet available in the net. However, I will just discuss what I am using.

From here, since I am a myetherwallet user, we will create a sample MEW ( MyEtherWallet) account for learning purposes.

  • First, on your computer, go to the address bar and type myetherwallet.com website.  
  • The very first thing you should do is to create your own wallet address and private key.

  • By typing your strong password and clicking the "Create New Wallet", it will prompt you to the next panel in which you have to download your keystore/utc/json file and open it with a readable environment such as notepad or msWord. Since it is a very long alphanumerical key, some of the individuals I knew, print it and kept it in a safe and place where no can touch it. This is how it looks like.
Take a look at the quotation. That is how important the file is


  • Sample  keystore/utc/json file 

Warning: This is only a sample file.
  • After downloading and keeping your keystore/utc/json file  (if you save it on your computer, consider it a risk), click on "I understand. Continue.". This will be the next thing that you can see.




  • You will be given your own private key. And if you click print(don't worry, it won't directly print. it will show you the page content for printing), you will have your complete account information.
woooooolaaaah! You have your own MEW address and Private Key!

  • You will use this information for purchasing, sending, selling etc.. that's why you have to remember always the Quote above. Of course, you still have the option if you want to save it. But take my recommendation just like I did before - warned by the knowledgeable individuals. 
OK! Let's check if we did it correctly. Let`s check what's inside your account.
  • Click the "View Wallet Info" and click Keystore/Json file or Private key to check your info. I suggest that you will use the Private key. It is more convenient. Type your Private Key on the box provided at the side.



  • After you type you Private Key correctly(or else it won't go through), it will give you an option that says "unlock". - Click and it will automatically prompt you to your account.



  • Inside your account, you will see 8 main parts. Let me elaborate. 
     A: This is Mew Address. If you're going to make a transaction and you have to receive tokens, make sure that you will give this. Not the Private Key. 
   B: This is the Private Key. notice that it is encrypted even though you are the owner? It is for the reason that if you check your account elsewhere, it won't give someone a chance to glimpse it. But don't worry, just click the "eye" icon and you can see it. 
    C: this is your account balance. Since Mew is on Etherium platform, it uses ETH. 
     D: This will list all the transactions that you have made. 
    E: You can see here the value of your ETH vs other tokens. 
    F. QR code for your Mew Address. 
    G: Option to print your information. And lastly 
    H: QR code for you Private Key which is also encrypted for the same reason stated above.

On the Home page of MEW there are still more tabs to click which on this picture I put a red circle on it. Of course, each has different functions. Such as sending, accepting, buying, selling tokens, checking the status of you MEW etc, be updated with new value of some tokens, etc.. However I'm not going to explain it all, for the reason that it will take time for me to explain all its functions. Besides, you can also find some explanation of functions in some sites or links such as CryptoCompare and CoinSutra. 

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Hi guys! hope this article at least help you gain knowledge about ICO. There are lots of other cool sites, not only this blog, for you to check and hopefully will provide insights that you want to have. Cheers!

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