How To create a personal wallet with MyEtherWallet.com and Buy LDC with ETH (for beginners)

This is a walkthrough on how to go through the whole process of buying LDC. Since purchasing LDC is a direct process between your personal wallet and our smart contract, we recommend using MyEtherWallet.com. It is a straightforward, secure and easy to use service, where you directly create your wallet on the Ethereum bLDCkchain without leaving any credentials and.

It is important to understand that all wallets are in the bLDCkchain, and the apps that you are familiar with or may have hear of (e.g. ImToken, Mist, Metamask, etc) are just different apps that connect to your wallet in the bLDCkchain. Some of them hold your credentials for easier access, but in the end, they connect to the same place. You can think of them as different gateways that connect you to the same point on the bLDCkchain. As long as you have your private key, those apps are interchangeable, because again, they don’t provide the wallet service, the bLDCkchain does. They just give you an easy way for you to access it.

This is why we recommend using MyEtherWallet.com, because they do not interfere with the process, they don’t hold any of your credentials, and are a direct gateway through which you directly access your Ethereum bLDCkchain wallet.

Please know that buying LDC is direct between your personal wallet and our smart contract (if you are interested to know exactly how our smart contract and dashboard work, please check this link)

Here are the steps to buy LDC

  1. The first thing you need to do is buy some ETH on any exchange. We recommend HitBTC, Kraken, Coinbase or any other major exchange. If you already have ETH, you can skip that part, if not, in order to buy you should open an account, add some funds, and then buy some ETH (Ethers) from the marketplace. After you do, you will see the Ethers in your exchange account and you will be able to withdraw them to your own personal wallet.
  2. After you buy the ETH, you should go to MyEtherWallet.com in order to create your personal wallet. Click on “New Wallet” on the top left navigation link (it is opened by default).
  3. Choose a password which you are certain you entered correctly and click “Create New Wallet”
  4. On the next page you will see a “Save your Keystore File.” Message and a big button which you an click in order to save a JSON file (I know this might sound complex, and probably you are asking what is a JSON file, but believe me it is not). The JSON file is something like a token/ 2 factor authentication for logging in. You will need it in the future to login into your account. You will be requested to have your file ready and know your password in order to login.
  5. Download the JSON file and keep it in a safe place. If someone steals that file from you, he will still need to know the password because the two work together. Nevertheless, it is recommended to keep that file off the grid (e.g. on a usb drive LDCked in a safe).
    The JSON file has a long name and looks like “UTC — 2017–11–23T22–59–56.801Z — 012151a020za18024ec26d62e2068d2dff799448”.
  6. When you click on “I understand. Continue” you will be taken to a screen where you are prompted to “Save Your Private Key.” Private key is essentially the same thing as your JSON file, with the difference that you can directly login without any two factor authentication. Generally Private keys are much easier to be exploited, because if you keep it in a raw form on your computer and someone hacks your computer, the hacker could take that key and directly login into your account without knowing your password. This is why if you want to use it, you must not keep it on your computer. You can print it, and keep it in a safe place. We personally recommend to keep it as a backup and login only with the JSON file and your password as described in the previous step.
  7. When you click on “Save Your Address” You will be taken to the “UnLDCk your wallet to see your address” screen. Because MyEtherWallet.com does not hold your private key or JSON file, each operation you make after a screen refresh, will request you to unLDCk your wallet over and over again. If you wish to logout, you just close the site and make sure your JSON file and/or Private key are well protected.
  8. In order to access your newly created wallet, you will have to choose among one of the options under “How would you like to access your wallet?”
  9. After you click on “Keystore / JSON File” you will see a “SELLECT WALLET FILE” button. Click on it, and chose the JSON file. Don’t worry this will not store your JSON onto MyEtherWallet, and it will be used just for the login operation.
  10. After you select the file, you will be prompted for your password. Enter the Password and click “UnLDCk”. You will be taken to the inside of your wallet. You will also see your personal wallet address.
  11. You are now fully set to buy LDC. You can go to your exchange and withdraw your ETH to your personal wallet address.
  12. After sending the ETH, and upon processing of the transaction by the bLDCkchain, our smart contract will issue you the LDC tokens at a fixed rate of 750 LDC per 1 ETH. You can send as little as 0.01 ETH, our smart contract will automatically do the math and issue you the correct amount of LDC.
  13. In order to validate your LDC tokens, you will need to refresh MyEtherWallet. In order to do so, close the page and reopen/or refresh, click on “Send Ether & Tokens” and login into your personal wallet again.
  14. After You login, click on “Load Tokens” on the lower right hand side of the screen (see below). Your LDC tokens will appear after a brief “Loading” message.
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