Ethereum is a powerful platform, but it isn’t as user-friendly as other crypto applications. Unless you’re an expert, the easiest way to get started with sending and receiving tokens is to use the web app MyEtherWallet.
If you’re buying MobileGo in the crowdsale, you’ll either be able to send them to your Waves wallet or to an Ethereum wallet. If you’re interested in getting started with Ethereum, you may find it’s a little different to other crypto clients. It offers impressive functionality, but it’s quite naturally a steeper learning curve than Waves, which is designed to be extremely user-friendly.
Unless you already know what you’re doing, the best way to send and receive tokens is with MyEtherWallet. It’s a web wallet that will allow you to create an address, generate transactions and submit them to the network. You won’t need to download the blockchain.
Because it all works in the browser, you can also use it offline. This is an effective way of managing cold storage, creating and accessing an account without your private key ever coming into contact with an online computer.
Generate a wallet
You need to start by creating a wallet, which is largely done for you by a process of random number generation. However, you will need to enter a password to encrypt your wallet file, in the same way that most cryptocurrency clients allow you to encrypt your wallet for additional security. Once you’ve done this, you will be presented with:
- A Keystore File (wallet) to download and keep safe, encrypted with your password
- Your Ethereum address
- Your private key (unencrypted), which you can also use to access or recover your wallet
- QR codes to use to create a paper wallet as backup (optional)
Standard disclaimers apply: if you lose your private key or Keystore, you lose access to your crypto tokens.
To receive tokens, you’ll simply need to give your address to the sender, as with any other crypto platform.
Sending tokens is a bit more complicated. You’ll need some Ether (ETH) to use as ‘gas’ to pay tx fees, though a little goes a long way. When it comes to sending tokens, you can use your Keystore File along with your password, or your private key, both of which you received on creating your wallet. The Keystore is safer and more convenient, since it’s already encrypted – you may not want to enter your private key in plaintext on an online computer.
You’ll be prompted to unlock your wallet with the password, before being taken to a new page that shows the balances of ETH and other tokens in that address. Paste in the address to which you want to send tokens, and select which token to send (the default is ETH but the drop-down menu should contain all the tokens you hold). The gas fee will be calculated for you.
Now click ‘Generate Transaction’, and you will see all the information you need to complete your send transaction.
If you’re using an online computer, you simply need to click the box to submit this to the network, and your transaction will be processed. If you’re on an offline machine, you’ll need to copy and paste it into the same box on an online computer.
You can check your balance at any time by using Etherscan, an Ethereum block explorer, without logging into your account.