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7898730 No.7898730 [Reply] [Original]

How do online wallets like MEW actually work?

I made one just now and got a private and public key, along with needing to make a password and then got a JSON file to download.

I thought I just needed a private key only, what's with all the other shit to keep track of and keep safe? If the JSON file is compromised even if my private key is not, am I fucked? How does this work?

>> No.7898927

Its just a "window" to the blockchain. With that private key you can access whatever is on MEW from everywhere. MEW is basically just there to automatically generate the code needed to perform transactions. Your public key is the address of your wallet that you can share. The JSON file is so that keyloggers cant steal your private key if you were cut and paste it to unlock your wallet. They need the physical file and your password.

>> No.7898947

>>7898927
Beyond that DYOR. This is all pretty basic stuff

>> No.7898981

I just set up my Ledger Nano S with MEW this morning, I can use the MEW interface and my private key never leaves the Ledger, super comfy

>> No.7899078

>>7898927
So, if someone was to download my JSON file somehow and had a keylogger to log my password, I'm still fucked then, regardless of how secure my private key is?

>> No.7899140

>>7899078
You only need the pc key and password

But I ducked up and lost 60 eth by not saving a Json and losing the private key so don’t make my mistake

>> No.7899146

>>7899078
Yes.
Hence, >>7898981

>> No.7899166

>>7899078
Pv key

Fucking autocorrect

>> No.7899171

Touching private keys is so ghetto

>> No.7899181

>>7899140
Can i rebuild a JSON file if I lose it as long as I have the password and the private key?

>> No.7899183

>>7898981
I'm retard with way too many meme coins and that's why I just ordered one. I'm probably going to get one of those metal blocks where you can punch in your private key and hide that somewhere too.

>> No.7899187

Your public key is an encryption key. People can send everything to it and it gets put into your stash.

The private key is actually a decryption key. Which is used to open your stash and manage it.

You don't really need anything else afaik.

>> No.7899201

>>7899078
I guess so. If youre worried, use a hardware wallet or keep your JSON on an encrypted USB thumbdrive

>> No.7899202

Also ignore these faggot hardware wallet shills

Hardware wallets are just usbs that cost 200 fucking dollars

Get a pi if you’re paranoid or just use a paper wallet

>> No.7899219

>>7899183
Fuck off shill

Ledgers are garbage

>> No.7899233

>>7899181
You can log in with just your private keyif you want. The JSON is just an extra layer of security so you arent cutting and pasting your actual private key all the time

>> No.7899234

>>7899201
>keep your JSON on an encrypted USB thumbdrive
Yeah, I have no idea what that means senpai.

>> No.7899237

>>7899202
But where do I generate a private key offline? Al my devices had a connection to the internet in the past.

>> No.7899277

>>7899181
You only need the private key and password you set

I keep mine on a dedicated laptop and only plug an Ethernet in to make a transfer

But you can just write down or print the pv key and remember the password and that is all you need really

Or a usb stick... don’t fall for the hardware wallet meme

>> No.7899307

>>7899234
http://lmgtfy.com/?q=How+to+encrypt+a+USB+thumbdrive

>> No.7899321

>>7899307
Lol BTFO

>> No.7899386

>>7899321
Be sure to post about it when you accumulate enough crypto that not being on hardware would be insane, and we will all be happy for you

>> No.7899392

is a U2F Key worth getting?

>> No.7899496

>>7899386
I have over 1mm right now and never used a hardware wallet because I’m not a retard

>> No.7899507

Get a ledger, MEW is not safe.

>> No.7899605

>>7899496
I have over 1mm right now and use a hardware wallet because I’m not a retard. Best of luck, Anon

>> No.7899810

>>7899605
You too
Consider a pi