Last updated: October 26th, 2021
MyCrypto is a front-end interface that enables you to interact directly with the Ethereum blockchain. MyCrypto enables you, through the interface, to send tokens from your address, view your token balance, etc. However, MyCrypto's existence has no bearing on your address's ability to receive tokens: Any Ethereum address can receive and store Ethereum-based tokens ("ERC-20" tokens).
Whether you store all your ETH and tokens in the same address is up to you. Some people prefer to have different wallets. Some people have a smaller "hot" wallet that is kept on their computer with small amounts of the coins they hold, while they keep the majority of their funds in a cold-storage wallet.
The only thing to keep in mind is that in order to send tokens, you must also have a small amount of Ether (<0.1 ETH) in your account to cover the cost of gas. For this reason, it can be quite inefficient and frustrating to have all your tokens in different addresses.
At the end of the day, it's up to you though.
FAQs
Whether you store all your funds on one address or spread your crypto portfolio across multiple addresses is ultimately up to you. Some users prefer to have their funds distributed across multiple addresses for the purposes of security, organization, or personal preference.
Where should I keep my ETH? ›
Hardware Wallets: Hardware wallets are physical devices specifically designed to store cryptocurrencies offline. They offer strong security by keeping your private keys offline, away from potential hacking attempts. Popular hardware wallet brands include Ledger, Trezor, and KeepKey.
What is the safest way to store ERC-20 tokens? ›
Coinbase is one of the most secure cryptocurrency wallets for storing ERC20 tokens. It securely stores all your digital collectibles and assets. Your private keys are protected with biometric authentication capabilities.
Can an ETH wallet have multiple addresses? ›
Not different wallets but only addresses that are associated with the same account like in bitcoin, litecoin, etc. Yes, you can create multiple receiving addresses for the same Ethereum wallet.
Can you send ETH to multiple addresses in one transaction? ›
In the dynamic world of Ethereum, distributing tokens to multiple addresses efficiently is a crucial capability for ICOs, airdrops, or payroll management. Manysend offers a groundbreaking solution that streamlines this process, making it effortless to send Ethereum tokens to multiple addresses in a single transaction.
Is it worth putting $100 in Ethereum? ›
Investing $100 in Ethereum is a small entry point into the Cryptocurrency market. While there's potential for high returns, Ethereum's price is volatile. Researching Ethereum's technology and the broader market is crucial. Consider dollar-cost averaging to minimise risk.
What is the best way to buy and hold Ethereum? ›
Most find that the easiest and most secure way to purchase Ethereum is through a reliable cryptocurrency platform like Kraken.
What is the best way to keep tokens? ›
We recommend storing tokens on the server, as this offers traditional web apps the maximum level of security. If this cannot be done, you should use encrypted session cookies so the client cannot read token values.
How do you store Ethereum tokens? ›
You can store them using your Ethereum account in Trezor Suite. Every ERC-20 token can be stored using a Trezor device, as detailed in the following step-by-step guide: Open Trezor Suite (desktop or browser version) Choose Ethereum from the My accounts panel on the left.
Can you store all ERC-20 tokens on ledger? ›
Although your Ledger device can secure most Ethereum ERC20 tokens, not all ERC20 tokens are supported by the Ledger Live app. Non-supported ERC20 token deposits will not show in Ledger Live and will not create a transaction record in the Latest operations section in Ledger Live.
All ERC-20 Tokens on Kraken use a shared address. For example, when generating an Augur (REP) address the same address will be generated for other listed ERC-20 tokens.
How many addresses own Ethereum? ›
Ethereum Cumulative Unique Addresses is at a current level of 273.28M, up from 273.19M yesterday and up from 235.57M one year ago. This is a change of 0.04% from yesterday and 16.01% from one year ago.
Should I share my ETH wallet address? ›
Yes, sharing your wallet address publicly is safe, as it only allows others to send funds to your wallet. However, do not share your private keys or any other sensitive information.
How do you distribute ether or tokens to multiple addresses? ›
One of the most popular ways is through a “Bulk Token Sender”, also known as a “Token Faucet”. This tool makes it easy to send tokens to multiple addresses at once. The Bulk Token Sender is a great tool to use when you need to distribute tokens to a large number of people quickly.
What are the best times to transfer ETH? ›
The bars are where most of the data falls. The black dots are outliers. The data clearly shows fees are at their highest between 2-6pm UTC. The best times to transact are instead between 1AM-3AM, 5AM-8AM, and 9PM to 11PM UTC.
Is it worth keeping my Ethereum? ›
Ethereum might be an appropriate investment for short-term market speculators and traders who have a high risk tolerance and are looking for an extremely volatile asset. But ethereum has an unproven long-term track record compared to assets such as gold, stocks and bonds.
How to store Ethereum safely? ›
When it comes to storing Ethereum safely, the ideal approach is to utilize a combination of both hot and cold wallets. By using a hardware wallet for long-term storage and a software wallet or mobile wallet for frequent transactions, you can strike a balance between security and convenience.
Should I keep my Ethereum in Coinbase? ›
Coinbase is generally regarded as a safe place to stake your Ethereum. Staking enables passive income through rewards from your staking wallet. You don't need 32 ETH to stake on Coinbase. You can stake as little as 0.01 ETH at a time.
