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I have VeChain tokens that I want to store onto paper wallet created with MEW. This is my first attempt moving tokens/coin from exchange to a wallet.

I am confused as to how the fee will be calculated. Will it be a certain amount of VEN that I have, or ETH, which I don't have?

Also, can I store different ERC-20 tokens and Ether all in the same wallet?

Thanks.

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  • How to know if MEW natively supports a token. I want to send some TRONIX to MEW , what do I need to do?
    – Ben
    Jan 11, 2018 at 12:34
  • @Ben see this instruction to find the token in the MEW list
    – Jake
    Jan 15, 2018 at 7:44

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The fee for transferring tokens will be in ETH, as the act of transferring tokens is done by executing a transaction on the Ethereum network. If you're transferring from an exchange to a wallet, it's up to the exchange how they handle the fee. They may just take a portion of your token, but they should specify that to you in advance.

You can store as many ERC-20 tokens in the same wallet as ether. You can access them on MyEtherWallet by specifying the token contract address (if MEW doesn't natively support VEN).

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  • Binance (exchange I am using) charges 5 VEN for withdrawal. If I understand correctly, that is not the gas for the miner fee, am I right? In that case, do I need to have ETH in my MEW wallet?
    – Jake
    Jan 5, 2018 at 5:01
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    They probably cover the miner fee, then. If any ETH is required, Binance would require you to have it, not MEW. You will need ETH in your MEW wallet if you want to sent the tokens somewhere from there, though.
    – Kyle
    Jan 5, 2018 at 19:27
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https://blog.wetrust.io/using-myetherwallet-mew-to-send-erc-20-tokens-like-trustcoins-trst-a946cd9873af

https://myetherwallet.github.io/knowledge-base/send/adding-new-token-and-sending-custom-tokens.html

https://medium.com/@Cryptocalls/how-to-add-an-erc-20-token-myetherwallet-91e22b3106b5

Check these out. I hope it was helpful.

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  • Thanks @Sean. So to send from Exchange to MEW, I just enter the public address of my wallet in Exchange. But to send from my wallet to another wallet or Exchange, I need to set up the custom token in MEW?
    – Jake
    Jan 5, 2018 at 5:01
  • That is correct @Jake
    – Hugo
    Feb 13, 2018 at 8:15

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