What is an ERC20 Token and How Do You Store it on Myetherwallet ?

In today’s digital world, it is important to have multiple layers of security in place to protect your valuable data.Myetherwallet  (MEW) is an open-source, client-side interface for generating Ethereum wallets. By setting up two-factor authentication (2FA), you can add an extra layer of protection when accessing your MEW account. Let’s take a look at the benefits of using 2FA with MEW.

What Is Two-Factor Authentication?

Two-factor authentication adds an extra layer of security when a user logs into their account. It requires two pieces of information before granting access; usually, this involves something you know (like a username or password) and something you have (like a code sent via text message). This makes it much harder for someone to gain unauthorized access to your account because they would need both pieces of information to do so.

Why Use 2FA with Myetherwallet ?

The main benefit to using 2FA with MEW is that it increases the security of your account and helps protect against fraudulent activities such as hacking and malware attacks. Additionally, it ensures that only the rightful owner has access to the wallet and its contents. With 2FA enabled, even if someone were able to gain access to your username and password they wouldn’t be able to log into your account without having another piece of information—such as a code sent via text message—to gain entry. Other benefits include added convenience since you won’t have to remember long passwords anymore, as well as peace of mind knowing that your funds are safe from cybercriminals and malicious actors. How Do I Set Up Two-Factor Authentication with Myetherwallet ? Setting up 2FA on MEW is easy and straightforward. All you need is an authenticator app such as Google Authenticator or Authy installed on your phone or computer. Once installed, follow these steps:

1) Log into MEW using your username and password;

 2) Navigate to the “Settings & Security” tab;

 3) Select “Enable 2FA”;

 4) Scan the QR code displayed on the page with your authenticator app;

5) Enter the code displayed on the app in MEW;

6) Click “Enable 2FA”

7) Enter a backup phrase in case you ever lose access to your authenticator app;

8) Click “Backup Phrase Verified” and then “Confirm”. And that’s it! You are now secure with two-factor authentication enabled on MEW!

Conclusion: Whether you are new to cryptocurrency or an experienced user, adding an extra layer of security by enabling two-factor authentication is essential for protecting yourself against cyber threats. With just a few simple steps, you can set up two-factor authentication on Myetherwallet  quickly and easily, giving you peace of mind knowing that your funds are safe from malicious actors online. So why wait? Take control over your digital assets today by setting up two-factor authentication on MEW!