How to create a wallet for your tokens

MyEtherWallet

We want to support you with the purchase of your SCU tokens. Therefore, we have compiled a guide that describes how you can set up a wallet address at MyEtherWallet.
Should you have any further questions, please do not hesitate to contact us directly!

mail@space-cloud-unit.io

STEP 1

Start by visiting www.myetherwallet.com. On their main page you will immediately be invited to enter a password in order to create a new wallet.

Create a wallet at MyEtherWallet

This password needs to be easy for you to remember, but also strong and secure. Write it down and store it wisely. If you lose your password, you will lose access to your funds and tokens. There is no password recovery option.

The password is used to encrypt and protect the wallet you are about to create.

The MEW site does not hold your keys for you. It cannot access accounts, reset passwords, recover keys or reverse transactions. Protect your keys, as you are responsible for your own security.

 

STEP 2

With your fancy password memorized, click to “Create New Wallet”.

Then, you will be prompted to download and store your ‘Keystore/UTC file’. You can save this on your hard drive, or a USB drive. This file is the encrypted version of your private key. Anyone who has access to this file, along with your password, has full control of the funds and tokens in your Ethereum wallet.

At this point it is recommended you create a paper file, and store it safely. You can print the code for safekeeping, and/or carefully handprint and store your private key.

You may want to write it out several times, to ensure sloppy writing doesn’t prevent your future self from accessing your Ethereum Wallet!

After recording the newly created address of your ETH wallet, you can search your address on Etherscan (https://etherscan.io).

If you bookmark that wallet search page, this becomes an easy way for you to review your balance at any time.

TEST YOUR WALLET

A good way to test your wallet is to send a very small test amount to your wallet. It will also help to understand what you are doing when transferring crypto currencies and tokens.

If you currently have Ethereum in an exchange or separate wallet, you can send it from there to your new MyEtherWallet address and await confirmation.

If and when the ETH arrives in your new wallet, you can also trial a small amount to be sent elsewhere to another exchange or wallet under your control.

A WORD ON HARDWARE WALLETS

MyEtherWallet has been used for this tutorial, as it is one of the best in-browser wallets on the market.

However, it’s important to note that your private key could still be compromised by any malware or viruses which are on your computer.

To achieve a higher level of security for your ETH/crypto, the next step is to use a hardware wallet for storage. These range in price and features, and will be the sole focus of an upcoming article!

Now that you’ve learned how to create a wallet, you have everything prepared to invest in Space.Cloud.Unit!