MyEtherWallet will soon launch MEW Connect App

MyEtherWallet, which is the most popular crypto wallet is ultimately getting its own mobile app in order to increase the security of its users. Recently, the firm launched MEW Connect, an iOS app which allows users to access their wallet via MyEtherWallet without any requirement of their private key. Before MEW Connect officially releases, the firm will release a beta app for iOS users. After the public testing phase is finished and all the bugs are fixed, an official MEW Connect app will be released for iPhone and Android users.

Currently, the website gets more than 600,000+ visitors per day, hence the demand for MEW Connect app will be very high. All the users will be able to manage Ethereum as well as other altcoins in the wallet. MEW Connect will provide a user who selects to invest in altcoins an instant access to wallet without any requirement of a private key. One important point to note here is, MEW Connect will be available for free to all the users.

How will MEW Connect work?

The app will utilize the QR code scanner which will replace the need to enter the private key. Many times, people are warned about before entering their private key. As per the latest analysis, $7 million has been stolen by phishing attacks from wallet services. To solve this issue, MyEtherWallet provides a better alternative.

In order to open your account on MEW Connect app, you have to scan the barcode on the MyEtherWallet.com, which will then open your account through a peer-to-peer connection. Technically, MyEtherWallet will utilize Apple’s keychain service in order to encrypt data. Also, the firm plans to launch the Touch ID feature in future, which is absent currently.

Before accessing the app, the user has to set a master password, the app encourages users to set a strong master password. The password should consist of a phrase, this is similar to hardware wallets like Trezor or Ledger. In any case, if you lost your phone, you will be able to get access to the wallet by entering the master password. You should write this password on a paper and store it properly.

Inventions occurring in Mass Market Products

Crypto World is expanding daily to a great extent, hence developers are forced to build a product for the masses. Previously, Bitcoin mining was a niche activity, but now the industry is diverse in different phases. A number of coins are available based on the skill level of users, the market doesn't require tech freaks. Due to this, services and apps must become more user-friendly. One research done by Imperial College London claims that the crypto market stays on six important factors, out of which one is usability. Thus, MEW should support the price of Ethereum. By launching the app, the beginners will store and invest the coins. Hence, the popularity of Ethereum will rise.

Apart from the mobile app, MEW has also made a partnership with Simplex. With the help of advanced AI algorithms, Simplex has allowed MEW users to buy Ethereum using credit cards. Hence, it is easy to buy ETH bypassing exchanges. As soon as you combine this with an easy and secure wallet, the process of buying, storing and sending coins becomes convenient among users. However, this will not solve all issues regarding crypto security.

MEW app will become widely popular among the beginners first, then with the casual users and then by normal consumers.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -
- Advertisement -

Louis Navellier's King of 5G “Turbo Button” Technology: What's the Smart Antenna Hype About?

First, Who Is Louis Navellier? Louis Navellier is a legend in the world of investment, best known for trading stocks,...

How to Earn Bitcoin: 27 Best Ways to Get Paid in Crypto (2020)

Most assume the only way to get bitcoin is to buy it. However, as this guide will show, there is a multitude of ways...

Latest News & Updates

25 Cent Trader Summit with Nomi Prins: February 15th Event Details

The event will take place on February 15th, 2020 at 1PM EDT. While Noni Prins usually charges a high appearance fee, this event...

The Crypto Genius: Auto Cryptocurrency Trading Software Worth It?

Making money in the cryptocurrency industry is all about knowing the patterns of the market and the things to look out for. While some...

Ethereum Code Review: Legit Automated Crypto Trading Bot Software or Scam?

In its most basic sense, Ethereum Code can be thought of as an automated cryptocurrency trading platform with a trading bot that allows investors...

Crypto Revolution: New Cryptocurrency Book by Bryce Paul and Aaron Malone

Since the start of the year, the crypto market has been showcasing extremely bullish signs which have led many to believe that something big...

More Articles Like This

OPM Wealth: Inside Look at Other People's Money Business Plan

OPM Wealth is a high ticket sales program known as a digital franchise system focusing on Other People's Money (OPM) designed to bring you...

How to Earn Bitcoin: 27 Best Ways to Get Paid in Crypto (2020)

Most assume the only way to get bitcoin is to buy it. However, as this guide will show, there is a multitude of ways...

Ingreso Cybernetico: A Look Inside the New Crypto Business

One of our main objectives in this website is to highly all the possible ways one can earn Bitcoin and crypto now days. While trading...

The Investment of the Decade by Teeka Tiwari: What Is It?

Teeka Tiwari's Investment of the Decade is a new special broadcast of his highly popularly, wildly successful Palm Beach Letter newsletter research program. While there...

Jeff Brown's How to Massively Profit From Investing in 5G Technology Early

Consumers can sign up with their email for free to get the Smart Investor Updates. Jeff Brown predicts that 266 million Americans will...

Dr. Mark Skousen's Swiss Army Bio-Knife: Forecasts & Strategies Report

Have you come across Dr. Mark Skousen’s recent presentation regarding the proclaimed, “Swiss Army Bio-Knife?” Shared by the Eagle Financial Publications, it has been...

Ethereum Code Review: Legit Automated Crypto Trading Bot Software or Scam?

In its most basic sense, Ethereum Code can be thought of as an automated cryptocurrency trading platform with a trading bot that allows investors...

Louis Navellier's King of 5G “Turbo Button” Technology: What's the Smart Antenna Hype About?

First, Who Is Louis Navellier? Louis Navellier is a legend in the world of investment, best known for trading stocks, his growth-based strategy for investment...