Pros
It is a free open source wallet
It is reliable with a test of time testimony
Its server does not store any sensitive information of its users
It may be incorporated with hardware wallets for higher security
Cons
MyEtherWallet isn't always as stable as hardware wallets
Does not require KYC.
Prone to phishing attacks.
MyEtherWallet is a free open source wallet which relates with Ethereum cryptocurrency ledger in other to let its users generate their cryptocurrency wallets online. It creates an interactive wallet with a private key that carries a private key. This wallet is constructed at the Ethereum blockchain to save Ethereum and ERC associated tokens.