I have created a wallet on MEW (
https://www.myetherwallet.com/) and I have a number of questions / clarification needed:
1) To my understanding, this is not an online wallet: the website simply generate a wallet address, and gives me the public and private keys, which I can then safely store offline or on a piece of paper, if I wish so, right?
2) Once I have the address generate at 1) above, I can then send ETH and/or a number of ETH tokens to this address, right?
3) the blockchain knows that this address has received this amount of ETH and that amount of tokens. If I'm in control of the private key, then I can use my ETH and/or token for whatever I please: transfer them to another user, another wallet, an exchange etc ... Correct?
4) Even though I store on my address different tokens and/or ETH, I only need one private key right? I.e. once I know the address and my private key that unlocks my wallet with all the content which I can then use as I prefer.
Thanks for helping to understand!
Cheers,
Jay
1. Myetherwallet is an online wallet, but you can use it offline there is a section where you can swap offline but I didn't try it so I don't know how it works
2. Yes you can send any tokens you want to send regarding that you have enough gas to make such transactions
3. Yes you can do what ever you please on the money/ token on your wallet.
4. Yes using myetherwallet one private key for one wallet and this wallet can hold any token even if its not listed you can add it to add custom.