About Einc Wallet
Einc Wallet is a free, open-source, client-side interface. We allow you to interact directly with the blockchain while remaining in full control of your keys & your funds. You and only you are responsible for your security. This password encrypts your private key. This does not act as a seed to generate your keys. You will need this password + your private key to unlock your wallet.
eInc Wallet is not a Bank
- When you open an account with a bank or exchange, they create an account for you in their system.
- The bank keeps track of your personal information, account passwords, balances, transactions and ultimately your money.
- The bank charge fees to manage your account and provide services, like refunding transactions when your card gets stolen.
- The bank allows you to write a check or charge your debit card to send money, go online to check your balance, reset your password, and get a new debit card if you lose it.
- You have an account with the bank or exchange and they decide how much money you can send, where you can send it, and how long to hold on a suspicious deposit. All for a fee.
eInc Wallet is an Interface
- When you create an account on eInc Wallet you are generating a cryptographic set of numbers: your private key and your public key (address).
- The handling of your keys happens entirely on your computer, inside your browser.
- We never transmit, receive or store your private key, password, or other account information.
- We do not charge a transaction fee.
- You are simply using our interface to interact directly with the blockchain.
- If you send your public key (address) to someone, they can send you ETI or tokens. ?
- If you send your private key to someone, they now have full control of your account. ?
WTF is a Blockchain?
- The blockchain is like a huge, global, decentralized spreadsheet.
- It keeps track of who sent how many coins to whom, and what the balance of every account is.
- It is stored and maintained by thousands of people (miners) across the globe who have special computers.
- The blocks in the blockchain are made up of all the individual transactions sent from MyEtherWallet, MetaMask, Exodus, Mist, Geth, Parity, and everywhere else.
- When you see your balance on eInc Wallet or view your transactions on explorer.einc.io, you are seeing data on the blockchain, not in our personal systems.
If eInc Wallet can’t do those things, what’s the point?
- Because that is the point of decentralization and the blockchain.
- You don’t have to rely on your bank, government, or anyone else when you want to move your funds.
- You don’t have to rely on the security of an exchange or bank to keep your funds safe.
- If you don’t find these things valuable, ask yourself why you think the blockchain and cryptocurrencies are valuable.
- If you don’t like the sound of this, consider using Coinbase or Blockchain.info. They have more familiar accounts with usernames & passwords.
- If you are scared but want to use MEW, get a hardware wallet! These keep your keys secure.
How To Protect Yourself & Your Funds
Phishers send you a message with a link to a website that looks just like eInc Wallet, EtherDelta, Paypal, or your bank, but is not the real website. They steal your information and then steal your money.
- Install EAL or MetaMask or Cryptonite by Metacert or the MyEtherWallet Chrome Extension to block malicious websites.
- Always check the URL:
- Do not trust messages or links sent to you randomly via email, Slack, Reddit, Twitter, etc.
- Always navigate directly to a site before you enter information. Do not enter information after clicking a link from a message or email.
- Install an AdBlocker and do not click ads on your search engine (e.g. Google).
Hardware Wallet Recommendations
One of the safest & easiest ways to store your ETH, Tokens, ETC, BTC, and many other coins is via a Ledger Nano S or TREZOR. Both are hardware wallets. Both work with MyEtherWallet.com. And both cost less $100 ( < 0.1 ETH ).
Why do you need a hardware wallet?
In theory, as long as you keep backups of your keys and don’t visit any malicious / phishing sites, and never use remote access software, and don’t install any malicious applications, then you should be fine. However, we hear from folks every day who lose, misplace, destroy, or have their private keys and funds stolen. It only takes one mistake to lose everything.
The hardware options give you peace of mind, are easy to use, and are becoming a must-have for anyone storing more funds than they are willing to lose. I would personally recommend it for anyone storing anything over 2wks salary.
The device itself holds the keys and signs transactions for you. MyEtherWallet is integrated with both Ledger and TREZOR, so you can even use the same interface you are already familiar with. This ensures your keys aren’t ever on any internet-connected device. Phishers can’t get them. Malware can’t get them. Keyloggers can’t get them.
When you set it up you will write your key (24-word backup phrase) and store it offline in a secure secondary location. This prevents you from losing access to your funds if something were to happen to your hardware wallet.
Tips for securely storing your Einc Wallet
- Do your own research. Before sending any coins or private data to a wallet, make sure you have researched the wallet provider to make sure everything is above board. Keep an eye out for scam wallets, such as those using URLs only slightly different to the URLs of legitimate wallet providers, and check out some independent reviews for all the pros and cons.
- Back it up. Make use of your wallet’s back-up and restore facility so that if something ever goes wrong with your wallet, you’ll be able to recover your funds.
- Set a strong password. Now is not the time to be lazy when creating a password; take your time to create a strong and uncrackable code.
- Make use of all available security features. Make the most of all the security features your wallet offers, such as two-factor authentication or multi-signature transactions. It’ll offer increased protection for your funds and greater peace of mind for you.
- Update your antivirus software. Take care to regularly update the antivirus protection and anti-malware software on any device you will be using to access your wallet.
- Keep your private keys private. Last but not least, don’t underestimate the importance of your private keys. Store them somewhere safe and don’t share them with anyone else.
The Information Presented Here Does Not Constitute Investment Advice Or An Offer To Invest. The Statements, Views, And Opinions Expressed In This Article Are Solely Those Of The Author/company And Do Not Represent Those Of Coinworldstory. We Strongly Advise Our Readers To Do Your Own Research (DYOR) Before Investing In Any Cryptocurrency, Blockchain Project, Or Ico, Particularly Those That Guarantee Profits. Furthermore, Coinworldstory Does Not Guarantee Or Imply That The Cryptocurrencies Or Projects Published Are Legal In Any Specific Reader’s Location. It Is The Reader’s Responsibility To Know The Laws Regarding Cryptocurrencies And Icos In His Or Her Country. Please Respect Your Country Law & Take Advice From Your Advisor .