A Step-by-Step Guide on How to Access Your ETHW Tokens if You Held ETH Before The Merge – Featured Bitcoin News
With the launch of the new Ethereumpow (ETHW) network, Ethereum holders are eligible to receive a single ETHW for every Ether they own. The following is a simple guide showing Ethereum holders how to access their ETHW tokens using a wallet like Metamask.
Access to the ETHW network via Metamask’s network settings
16 days ago, Ethereum switched from a Proof-of-Work (PoW) blockchain to a Proof-of-Stake (PoS) network, and Ethereum miners decided to mine a few different coins like Ethereum Classic and Ravencoin. Some miners switched to the new Ethereumpow (ETHW) network, and the blockchain has been live for more than two weeks since launch. At the time of writing, 52.27 terahash per second (TH/s) hashrate is destined for the ETHW network.
Additionally, the ETHW token has been trading at prices between $10.96 and $12.16 per unit over the past 24 hours. ETHW’s USD value is up 20.6% over the past two weeks, and seven-day stats show the token is up 49.1%. However, in the last 24 hours on October 1, 2022, ETHW has lost around 7% against the US Dollar. Since ETH holders are entitled to ETHW at a 1:1 rate, Ether holders gained access to their coins after the ETHW network went live.
The following post is an easy way to access ETHW with a Metamask wallet simply by upgrading the network. ETH owners can also use different methods like importing their seeds into Metamask or a wallet supporting the ETHW network. Some wallets like the Crypto.com Defi wallet have a toggle switch that looks for funds and if you have been holding ETH on the Crypto.com Defi wallet simply look for funds and the ETHW token can be added.
To use the Metamask route, the rest of this guide will assume that you already have ETH in a Metamask wallet, but if you don’t, it’s also possible to import your ETH wallet into the Metamask platform and access the funds from there.
Assuming you already have a Metamask wallet that contained Ethereum (ETH) before The Merge or before September 15th, the next step is to access the Metamask settings panel in the wallet. To access the settings, simply click on the account icon and then on “Settings”.
In the Settings section of Metamask, another section called Network will be visible on the left side of the screen, and to the right of it is an icon of a plug. Press “Network” and the section will take you to an area that shows all the networks your wallet is connected to and from here just press “Add network”. After clicking the Add Network button, Metamask will warn you about malicious networks, as the platform states:
A malicious network provider can lie about the state of the blockchain and record your network activity. Only add custom networks that you trust.
Below the warning are the input fields that are required to access the ETHW network. There are five fields to fill out, including: “Network Name”, “New RPC URL”, “Chain ID”, “Currency Symbol” and the “Block Explorer URL”. To connect to the ETHW chain, simply use the RPC data below.
- network name ETHW mainnet
- New RPC URL https://mainnet.ethereumpow.org
- Chain ID 10001
- currency sign ETHW
- Block Explorer URL- https://mainnet.ethwscan.com
After you have filled out all the fields, simply press “Save” and connect to the ETHW network. When the wallet is connected to the network, it should now show a balance of ETHW based on how much ether was originally in the wallet. From here, the ETHW balance can be stored, transferred to another wallet or address, or sent to an exchange for sale.
If you want to sell the new tokens, make sure the trading platform supports the ETHW chain. Besides accessing the ETHW network via Metamask, the hardware wallet company Ledger has published a blog post describing how ETH owners can get their Ledger ETHW account via Metamask.
Disclaimer: Exemplary editorials are intended for informational purposes only. There are several security risks and methods that ultimately come down to user choices. Reviews and guides mention various steps, some of which are optional. Neither Bitcoin.com nor the author are responsible for any losses, errors, skipped steps, or failure to take security measures, as the final decision-making process for any of these matters is solely the responsibility of the reader. To be safe, always compare the guides to other walkthroughs found online.
Have you tried accessing your ETHW tokens after The Merge? Do let us know your method and how you did it in the comments section below.
photo credit: Shutterstock, Pixabay, WikiCommons
Disclaimer: This article is for informational purposes only. It is not a direct offer, or a solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service, or company. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.