The Ultimate Mist Wallet Review & Guide
What is Mist?
Mist is the official desktop wallet of Ethereum, sometimes also called the Ethereum Mist Wallet, and a built-in feature of the Ethereum blockchain. It was created in 2017 by Ethereum’s development team, the wallet being one of the many dApps which are integrated into the Mist web browser. This browser is an application which is still in its beta phase, but it can nonetheless be used to sync with the main Ethereum network and communicate with other applications based on the platform.
The wallet is compatible with computers running on Windows, Mac OSX, Linux operating systems.
Which currencies can I store?
The wallet allows you to store Ether and all tokens that have been created on the Ethereum platform.
Mist imposes no limits to how many tokens you can store or withdraw.
Seeing as it has been designed by the developers which created Ethereum, Mist is generally regarded as the most secure wallet for storing Ether. The wallet stores all data on your computer, making you the sole entity in control of your private keys, and also of your funds.
This wallet also uses multi-signatures to enhance the security of your funds, as it requires more signatures from multiple places to gain access to your tokens.
The wallet service has been stated to have satisfactory customer support services. Most exchanges that list Ether also include guidelines which cover various aspects about Mist wallet use. The Ethereum blockchain features an open chat through which users can contact the team and receive answers regarding any inquiries about the Mist wallet.
The Mist wallet has proven to have great speed in validating and confirming user transactions. The tokens are sent and received almost in seconds. There have been many positive reports made by users regarding the wallet’s amazing speed.
While downloading the wallet is free, a fee is incurred when you transact on the network. For each Ether sent there is a fee of 0.00042 Ether.
How to use Mist
In order to set up a Mist wallet, you have to go through a few steps:
- Enter the following address: https://github.com/ethereum/mist/releases
- Click on the newest version of the Mist wallet and download it on your computer.
- Follow the wallet’s installation instructions.
- Select a strong password for your account.
Making payments using the Mist wallet is a rather straightforward process:
- After you have deposited some tokens in your account, click on the SEND button.
- Enter the recipient’s wallet address in the “To” area of the form.
- Enter the amount of Ether you wish to send.
- When making a transaction, you will be charged a small network fee. You can opt how high or low your fee can be by adjusting the fee slider. However, lower fees mean slower processing times.
- Click Send Ether.
- Enter your password again to confirm the transaction.
The Mist wallet is a recommended choice for Ether and ERC-20 users, but there are still some issues regarding synchronization times which need to be fixed. All in all, Mist is a secure Ethereum wallet.