- Extra security through hardware wallet linking
- Open-source software
- Customizable transaction fees
- Mobile only
- Limited to a handful of cryptocurrencies
- Can be confusing
- No social media presence
- Hierarchical Deterministic Wallet
- Single address account
- Hardware wallet compatibility
- Open source protocol
- Market place
- Operating System compatibility
- Inter wallet operability
- Reproducible wallet
What is Mycelium?
Mycelium is unarguably the oldest Bitcoin wallet used since the beginning of cryptocurrencies. Launched in 2008, the mobile-based wallet offers multiple types of accounts, including Hierarchical Deterministic (HD), Single Address Accounts, Watch Only Accounts, Bit ID accounts, and Hardware.
Mycelium wallet is a reliable platform to transfer, store, and trade Bitcoin. The wallet is open source, which provides a fast connection to the BTC network. Mycelium can be integrated with other wallets.
The Mycelium wallet app consists of many features to keep you updated about bitcoin. When you open the app, you’ll be able to see the live Bitcoin value along with the worth of your Bitcoin assets. In this way, you’ll stay updated on your assets’ value.
Moreover, several tabs include not only accounts, but also transaction history, wallet balance tab, financial advice for investment, and address books. In short, the Mycelium cryptocurrency wallet not only stores your Bitcoin but also keeps you updated about asset balance and transactions.Mycelium is an open-course Bitcoin wallet built specifically for mobile usage. While it's listed as a Bitcoin wallet, you 're also able to store ETH and ERC-20 tokens.
Being purpose built for mobile, the UI of this wallet is easily navigable. With Mycelium you also have a built-in exchange to allow in-app trades where you're able to set your own transaction fees. What we really love though is how you're able to link Mycelium's wallet to a hardware wallet for extra security. You can still see your holdings in the Mycelium wallet app, but you'll rest easy knowing that your holdings are secure in your hardware wallet.
Stay up to date
Want emails with free news, tips, tools, and recommendations to help you scale your Web3 business ideas? Drop your email below.