You provide the public address to anyone for them to send you tokens, and you use your private key to send tokens. You never ever give anyone your private key.
Given Gold and Silver Standard are ERC-20 tokens they use the Ethereum blockchain and hence Ethereum compliant wallets. The safest option is one of our offline Ainslie Crypto Wallets but you need to be in store to see us produce that.
Being an ERC-20 token means you can use the industry standard interface of MyEtherWallet.com to manage your wallet together with either your Ledger Nano, Trezor or the new MEWConnect platform which uses your smart device. The latter is relatively new so below gives you a little overview if you don’t already own a Ledger Nano or Trezor. Of course you should do your own homework to see which suits your needs best.
MEWconnect is the official mobile software wallet brought to you by MyEtherWallet, currently available for Android and iOS devices.
Check out MEWconnect here.
MEWconnect generates a new wallet then encrypts your private key and then stores it in isolation using your phone’s built-in security architecture.
The app establishes a secure connection while keeping your private key separate from the browser. The software implements two-factor authentication, protecting you from unauthorized transaction broadcasting on the blockchain. Only you will be able to verify and sign the transaction.
This means that your private key is never needed to access or send your funds, thus never exposing it. All that your secure device is doing is signing transactions that are sent on myetherwallet.com.
MEWconnect encrypts your private key on your device using a password that you create when creating the wallet. MEWconnect will never expose your private key to any browser. When linking your MEWconnect wallet to myetherwallet.com, a secure peer to peer connection is made – with no data collection.
Your phone will establish an encrypted channel with the browser. This is a safeguard from phishing and malware – onboarding, restoration, connection and transaction are all done on the secure app, meaning at no point are you exposing your keys, passwords, or backups to the browser.
You would be far more exposed to issues such as redirecting if you were to just use myetherwallet.com using your keystore file/private keys.
MyEtherWallet will never collect any of your personal data, all your information will only be stored on your smartphone. Additionally, you have the added security of your device’s built-in data encryption.
REMEMBER – you need a little bit of ETH on your wallet to pay for the GAS (mining fees) to send tokens. If you buy OTC from Ainslie Wealth they will include 0.01 ETH in your purchase to allow you to do so a couple of times.