Choosing between MyCrypto and MyEtherWallet
With the cryptocurrencies trending in the market, it is essential to store your bitcoins and other cryptocurrencies in the right wallets or you can end up losing your investment. If you have been dealing in the crypto market for long, you are aware of the confusion created by the MEW and MyCrypto.
Here is a guide to clear all your doubts about the two wallets along with their pros and cons.
MEW is the older GUI-based wallet for the Ethereum cryptocurrency which was founded by Kosala Hemchandra and Taylor Monahan in 2015.
With the increase in the cryptocurrency market, the MEW wallet gained enormous popularity and its customer base increase astronomically in 2016 and 2017.
The confusion started, when in early 2018, the twitter handle of MyEtherWallet was changed to MyCrypto suddenly. It was found that one of the co-founders Taylor Monahan was unhappy with the astronomical growth of MEW and wanted to raise VC funding and also wanted to part ways with the other co-founder Kosala Hemchandra.
This move by Taylor Monahan was opposed by the crypto community since it was unethical and even lawsuits were filed.
Later, the confusion was cleared after all the legal proceedings and the MyEtherWallet domain was given to the co-founder Kosala Hemchandra. And a new wallet MyCrypto was launched by the other co-founder Taylor Monahan.
MyCrypto wallet is a new cryptocurrency wallet having the codebase of MEW. It was launched by Taylor Monahan in May 2018. The codebase of MyCrypto is improved and has better security features than MEW but it is still a fork of the popular MyEtherWallet.
Taylor Monahan has apologized to the whole community for the hijacking of the Twitter account and launched a new twitter handle for MyCrypto. MyCrypto is slowing creating a user base for itself but it has a far way to go before reaching the trust and community like the MEW.
Both MyEtherWallet and MyCrypto are different wallets and have different features. You can choose either of the two. Product wise, MyCrypto has enhanced features, has the desktop client wallet and has better looks. On the other side, MEW is old, trusted and also stepping further in the evolution by launching the iOS app.