One of the key differences between digital money and fiat money is they exist only in a virtual environment. Cryptocurrency cannot be touched or put in your pocket. But it can be placed in a wallet, which, as you may have guessed, also exists online.
Digital money “lives” and is stored in the digital world
Today we’ll look at a popular way to store Ethereum and other ERC-20 tokens - the MyEtherWallet web wallet or simply MEW .
A web wallet is an online resource for making transactions and storing electronic and digital money.
In essence, an electronic wallet is a virtual safe deposit box for storing funds, a digital analogue of a traditional bank account.
