Be Among Smart 8%
Only about 8% of bitcoin owners are estimated to keep their coins in complete safety and privacy. There are hundreds of bitcoin wallet apps. Most wallets are custodial, therefore — not secure, not private, and not independent.
Even if a wallet is non-custodial, it may still not be secure. Only reproducible wallets are completely secure. Mycelium is among them. Mycelium is the most popular among them.
Self-custody Made Perfect
Newbies, Pay Attention!
How to make your funds secure?
Make a backup by following the instructions in the app.
What if you lose your phone?
No problem. It takes one minute to restore your accounts from your backup.
What if you lose your backup?
You lose your money.
What's the point of putting up with such inconveniences?
Because bitcoins are better than money in a bank. With Mycelium Wallet, you avoid banking nonsense. Payments can not be reverted, suspended, or declined. Accounts can not be blocked. No cross-border control and fees. Storage is secure and free. No subscription fees of any kind. No payment limits; no maximum daily or monthly amounts.
How much do payments cost?
It depends on the situation in the Bitcoin network and how urgent you need to pay. It is you who assigns the miner fee in each case, so be careful. If you offer too much, you spend too much. If you set the fee too low, you delay your payment. The app offers several standard options, but you're the only one who makes the decision.
What is the main drawback?
There is no one to address your complains to. Mycelium does not touch your money. It is only a relay between you and the Bitcoin network. There can be no fundamental Bitcoin failures, but things can slow down, and your wallet may be out of sync for a while. On the other hand, custodial wallets (those that explicitly stand between you and your money) do not solve the problem entirely anyway. But you still pay for an illusion of smoothness with the full physical control of your funds given out to some random people.
One more piece of advice: NEVER store your bitcoins on the exchanges.
If you use centralized exchanges to buy bitcoins, withdraw your assets as soon as you bought them. You do not control your coins there. Bitcoins are like physical coins. That's why crypto-exchanges are vulnerable to outright robbery. And that is YOUR problem. The relevant regulation is inadequate. In case of a hack, no reimbursement of funds is guaranteed to you. Take a look at the comprehensive historical list of cryptocurrency exchange hacks here
BTC Transactions Management
- HD spending accounts and Single Address saving accounts
- SegWit: native (Bech32) and P2SH compatible
- FIO Network features
- Handy address book
- An extended selection of exchange rate sources
- Convenient cryptocurrency and fiat currencies denomination
- BIP-70 support (payment requests, execution of external payment requests)
- Indication of unspent outputs for each bitcoin account
- Advanced transaction history: complete transactions details (block height, number of confirmations, inputs/outputs, miner fee, timestamp, incoming/outgoing tx indication, tx hash), custom text labels, exchange rates (corresponding to selected fiat currency), tx history export to CSV files
- Several blockchain explorer options
- Option to display derivation address path for BIP44 HD accounts
- Bump-fee option (child-pays-for-parents algorithm)
Mycelium's Ultimate Security
- The app is reproducible — no fatal dependence on the development team
- No ID required; no disclosure of any other identifiers; no other data collection procedures
- Hardware wallets support (Trezor, Ledger, KeepKey)
- Cold storage: paper wallets / watch-only accounts
- Separate backup system for Single Address accounts
- Several levels of pin protection
- Pattern sniffing protection: variable keyboard layouts
- TOR network support to mask IP address and location
- All third-party services can be manually turned off
- Direct download (APK file) is available
Mycelium started as a team of hardware engineers in 2008 with a mesh networking project. With the emerge of Bitcoin, Mycelium naturally leaned towards the new promising technology. To date, Mycelium has developed and launched three successful products in the bitcoin field: Wallet, Entropy
, and Gear
Mycelium is one of the oldest of the currently popular bitcoin wallets. Over the years of its development, it has absorbed all the best that was invented in the rapidly growing community of hardcore bitcoiners.