Before discuss in deep firstly we have to understand regarding what is MyEtherWallet is all about? MyEtherWallet is generally means a free, open-source, and client-side interface. As it is a open-source client-side interface that allow us to interact directly with the block chain and the remaining part of that is in full control of our keys as well as our funds. The major drawback or we can say advantage to someone as there is a different perception among the different people is that the only that person is responsible for the security of themselves as it tell about you and you are only responsible for the security purpose and moreover they cannot recover their funds or freeze your account if in case you lose your private key or you visit a phishing site.
MyEtherWallet is an interface
Generally people understand MyEtherWallet is a bank but they are wrong as MyEtherWallet is not a bank it is an interface as when you will create an account on MyEtherWallet you are generating a cryptographic set of the numbers that include both the public key as well as the private key. This address helps you to access your account easily and it would be inside in your browser as to handle your keys that happens entirely on the computer. Moreover there is no transaction fee include in this type of transaction as we already tell that it is not a bank it is an interface that not include any transaction fee. We can use this interface simply to interact directly with the block chain.
We need to know you some understating things that include:
To access our account or we can say to transfer our fund only for you.
Secondly, the important thing is to recover your private key or to change your private key.
To recover your password or to reset your password this is the major understanding thing that you may know.
Importantly to recover, cancel or to refund your transaction that help us to recover your funds or cancel your transaction.
Finally to freeze the account that is the major understanding thing that you generally may know about that.
As the protection is the important for the MyEtherWallet that includes typically of three types:
Firstly, to protect yourself from the Phishers that tells us about the message that is been send with a link to the website which generally look like the Paypal, MyEtherWallet or our bank, but it is not the real website. Firstly, they steal your all the information and then they steal your money as well.
Secondly, to protect yourself from the scams that include all those that we generally see in the today’s life either in phone or in the PC so the major thing is don’t be fear for that just use your common sense to protect yourself from it.Thus it is necessary for users to take the help of Myetherwallet support team calling the stated Myetherwallet Customer support number. Issues are common phenomenon that keeps occurring at a repeated level all the time which may be managed easily by techies.
Finally, to protect yourself from the loss that is the major and important protection that includes loss of your password or your private key. Don’t lose hope get back up every time when you use it