Get back into ethereum wallet
Hope to meet you there! Hey everyone! By now, you understand the massive revolution that is NFTs. First, what is Ether? Ether is the native currency of the Ethereum blockchain. For a deeper understanding of Ether, how it works and its unique value, check out this resource from the Ethereum Foundation. For now, just understand that Ether is the second-largest cryptocurrency in the world by market value after bitcoin.
Since Ethereum is the blockchain foundation for the booming NFT market, anyone looking to play or invest in that world will need to have some ETH. While you can buy this crypto directly using a wallet, there are often geographical restrictions. For this reason, we recommend buying ETH through an exchange like Coinbase and then transferring your holdings into your MetaMask wallet. Its recent public listing marked a significant shift, bringing the world of cryptocurrency much more mainstream.
Accessible online or via an app downloadable to your smartphone, Coinbase allows users to buy and sell cryptocurrencies, convert or exchange one coin or token for another, and then store or send and receive that crypto with others. It also keeps users up to date with the latest crypto news and developments in pricing.
Something to note about Coinbase is that because it is a centralized exchange, users are required to provide official identification in compliance with government regulations. This means that you must be 18 years or older to use Coinbase, and you must provide certain sensitive information including photo ID and the last four digits of your social security number.
Unlike many wallets, Coinbase conveniently allows for the purchase of crypto with fiat money, aka USD. Note that card purchases typically come with lower purchase limits and higher buy fees this is not exclusive to Coinbase. Higher fees for credit card purchases are typical for many crypto services.
As noted in our last article, you can avoid these delays by wiring money from your bank into your Coinbase wallet. Either way, be sure to get set up as soon as possible. You may use Coinbase on your computer, but it is commonly used as an app for both iPhone and Android. For a play-by-play on how to set up your Coinbase account in-app, follow the steps in this guide. The Recovery phrase was typically provided for you when the wallet was first created and can also be viewed in Settings of the MEW wallet app for existing users.
That same Recovery phrase can be used as an access method for your wallet on MEW web and any other crypto wallet platforms that support it. However, it is NOT recommended to use your phrase online. Private key and Keystore file access are not supported on the MEW wallet app. Even one word off can result in you accessing a completely different address. If you have a 12, 15, 18 or word recovery phrase, just enter the amount words that you have.
Android Users: The words must be separated by only 1 space between each word.
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Therefore, it is essential to exercise caution whenever you are sending funds. Always double-check that the address you are sending to matches the address of the recipient exactly. It is best practice to double-check the address before confirm or executing the transaction. Exchanges may be able to help you if you open a support ticket and give them the details they need,i. Additionally, Etherscan is a block explorer for the Ethereum blockchain just as Google is to the internet and as a free block explorer service, we can only provide and display information on transactions that occur within the Ethereum blockchain.
Please take note that Etherscan is not a wallet or exchange service. Your decentralized wallet safeguards your ether by allowing you to interact directly with the block chain while maintaining exclusive control over your keys and your tokens. Your virtual wallet also makes it easy for you to store, transfer, and retrieve ether tokens— as long as you do not lose the password that is necessary to access it. Unfortunately, if you lose access to your wallet, there is no one to help you because you are the person in total control who is responsible for your own security.
Ethereum has the second largest market cap after bitcoin and increased interest in virtual currencies has resulted in very strong demand for ether… which means that if you own ETH but cannot access it because of problems with your wallet, you may have thousands of dollars in virtual currency that is trapped and that you cannot spend or trade. If you find yourself facing this problem, Bitcoin Recovery Co.
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