Methyl hydrate is also known as methanol, methyl alcohol or wood alcohol. Denatured alcohol is almost pure ethanol, also known as ethyl alcohol, plain alcohol, grain alcohol, moonshine or sippin' whiskey. Stuff is added to ethanol to make it either distasteful or poisonous to make it denatured. Sometimes, and there are dozens of ways to denature ethanol, methanol is added to ethanol. This makes it poisonous. Methanol is highly poisonous and is rather readily absorbed through the skin while ethanol is only moderately poisonous and not as easily absorbed. Consuming methanol will lead to blindness, convulsions and death at a fairly low level of consumption. Methanol is also more flammable than ethanol. It is therefore not a good substitute for denatured alcohol.
Always wear neoprene gloves while using it. Interestingly methanol goes through latex like it was tissue paper, so latex gloves don't help. Also interestingly, methanol passes right through most respirators, even those meant for solvents. You need a delivered air system for safe exposure to methanol vapors.
