The following assumes you are not using a hardware wallet. Due to their ease of use and security, we recommend a hardware wallet for cold storage.
To save / backup your Ledger or Trezor device, simply write down the 24-word phrase on the card they provide and keep it very, very safe. Never put this key on an online device or type it into MyCrypto.com.
Unlock your new wallet from the Keystore / UTC file on your USB drive via the Secret Recovery Phrase or private key that you printed out. Ensure that it unlocks the wallet you are sent to and matches the bookmark you have.
Send a small amount of crypto (e.g., 0.0001 ETH) from your previous wallet or exchange to your new wallet using the public address.
Send a small amount of crypto (e.g., 0.00001 ETH) from this new wallet to another address.
Ensure that you have recorded all the necessary bits of information and the addresses match at all times. If they don't, you miswrote something somewhere. That means it's time to start from the beginning in order to make sure you never lose access to your funds.
Doing all of this is tedious, but it ensures you (1) have complete access to your funds, (2) the address you sent to is correct and matches the private key you have saved, and (3) you can rest easy for years to come, knowing you will be able to access your crypto later.
It is recommended that you store backups of both forms of your key (the Keystore file or Secret Recovery Phrase and paper wallet version) in physically separate, offline environments.
This prevents loss of the private key and password due to things like a dead hard drive, lost USB drive, wet piece of paper, etc. Keep in mind that physical loss can occur from events that affect an entire geographical area (e.g., fire, flood).
MyCrypto is not a "web wallet" and cannot recover your private key or password, access your account, move funds, recover funds, nor cancel/reverse transactions.
We are a client-side interface that allows you to interact with cryptocurrencies. Please secure and back up your key like the millions of dollars it could someday be worth.
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MyCrypto is an open-source tool that allows you to manage your Ethereum accounts privately and securely. Developed by and for the community since 2015, we’re focused on building awesome products that put the power in people’s hands.
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