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Mycelium Cryptocurrency Wallet


Bitcoin-Wallet Mycelium positions itself, neither more nor less, a "Wallet by default". It really is made very qualitatively: a convenient simple interface and many functions (both standard and innovative). Users of different levels of "advancement" positively respond about it and recommend to use. Mycelium Wallet is for the more adept bitcoin user - giving coin control features. The wallet is backed by a large active development team that is continuously innovating. Android Mobile is the main platform although the team has developed cold wallet prepaid cards too, that can act as a form of cold storage.


What are the advantages and disadvantages of this service for storing the most popular crypto currency? 

 Overview of the functions of the Mycelium Wallet:

"Mycelium" is a company (network project), which started functioning about 10 years ago. One of the development directions was the construction of a data transmission system based on Bitcoin technology, which led to the emergence of many different products. One of the most convenient services for making money transfers was in 2012 a mobile Bitcoin Wallet. It should be noted that it was recommended by the Bitcoin community as one of the most functional and reliable. There is only a mobile version, compatible with the operating systems iOS and Android. The user is offered the following options: 

  • Quick installation of the application without the need to download the entire block. This saves memory and speeds up the download process.
  • Connection via special super-nodes to the Bitcoin network, which are located in different data centers, which also positively affects the speed.
  • The current balance is displayed in 164 varieties of fiat currencies, while the system determines the most profitable offers and their territorial affiliation.
  • There is an address book where the most frequently used ones are collected, which makes it much easier to find the address you need.
  • You can view the complete history of transactions that have been completed with a detailed description of each transaction.
  • There is a built-in QR-code scanner, and private keys are exported to the device memory in the form of these codes or PDF-files (encrypted).

Protection against fraud is carried out through special private keys that are stored in the memory of the mobile device. This database is located in a protected area, access to which other applications installed on the phone is excluded. Additionally, you can create a pin code, which increases the degree of security. Exporting keys takes place in an encrypted form (as PDF files or QR codes). In order to increase the level of confidentiality, a new address is created for each transaction that is being executed, where all changes are sent.

A payment protocol such as BIP70 is supported, which makes the procedure of communication between users entering into transactions as secure as possible. After making a purchasing decision, the seller sends a payment requisition with all the conditions of the order. Forms and notification of receipt, which guarantees additional protection of the transaction.

With Mycelium Swish (https://swish.mycelium.com/) you can automate the ordering and payment processes in restaurants and bars. Mycelium Swish helps you save money on staffing costs and keep your customers satisfied. 

Mycelium Card (https://card.mycelium.com/) - The Mycelium card is the container for coins, not the access key to the account. The card is the user interface and POS terminal in one: it is equipped with a display and a keypad. The Mycelium card is battery operated, it allows completely autonomous operation. The Mycelium card can be connected to a computer through a Mycelium reader that allows charging the battery and accessing transaction records with a full-size interface. A user can complete up to few hundred payment operations with one charging cycle.

Mycelium Entropy (https://mycelium.com/mycelium-entropy.html) is a small USB device that uses hardware based entropy to generate printable Bitcoin paper wallets. Paper wallets are created in just 2 steps:

  • Insert Mycelium Entropy into a printer that allows you to print pictures from a USB flash drive.
  • Select the print option on the printer.



    The Default Bitcoin Wallet


    Website: https://wallet.mycelium.com 

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