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/biz/ - Business & Finance

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9414673 No.9414673 [Reply] [Original]

hey /biz/ i'm learning how to use mew, about erc20 tokens etc. because i wanna get into hydro. after watching some vids i think the process is

deposit money into mew
access mew through my ledger nano
have it connected when on ddex and trade eth for erc20

what i'm wondering is what's the point of metamask in all this? just a less safe but more convenient version of the ledger nano? any insights or tips you have would be appreciated. here's some boobs

>> No.9414747
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9414747

also the people that are shilling hydro are talking about HOT and not HYDRO right?

>> No.9414887
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9414887

also do i need the keystore file? if i'm accessing mew through my nano ledger what's the point of it

>> No.9414980
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9414980

halp

>> No.9415154

Ledger, MEW, and MM are all ways to make transactions from an account on the blockchain. MEW and MM are equivalent. Ledger is safer because your private key never gets exposed to an online computer.

>> No.9415203

>>9414887
you should never even have made a keystore file if youre using mew on your ledger

>> No.9415266

>>9415154
gotcha thanks for the knowledge

>>9415203
yeah i just realized that. the ledger is basically the keystore file. so then would connecting my ledger, going on ddex and buying erc20 tokens directly from there work?

>> No.9415285

If you're using a Ledger, you'll use an Ethereum address that's on the ledger, not one you create on MEW. When you create an account on MEW, it shows you the private key and and allows you to download the keystore file, which means your private key is exposed to your computer.

With ledger, the private keys to the accounts on it never leave the ledger.

>> No.9415336
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9415336

>>9415285
nice yeah i'm starting to understand that. i think i got it now. i go to ddex then i can access my ethereum that's on my ledger. trade it for HYDRO for example. and send that to my eth address and it'll show up on my ledger

>> No.9415403
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9415403

>>9415336
i'm assuming ddex is a decentrealized exchange but I think you've got it
there are quite a few dex s where you can transact directly from your ledger
you can also use the mew website (without logging in or making an account) to send ETH and eth tokens from your ledger or check your ledger's ETH addresses

>> No.9415493
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9415493

>>9415403
yeah it's decentralized. nice i didn't know that you could do that. so basically erc20 tokens don't need their own special addresses, sending it to my eth address is enough?