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Mobile Bitcoin Wallet Review – Mycelium

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Mobile Bitcoin wallets are not difficult to come by, yet some solutions stand out from the rest. Mycelium is one of the most popular Android Bitcoin wallet solutions for a good reason. The app offers a lot of functionality, while still being easy to use by novice Bitcoin enthusiasts. Moreover, there is a strong focus on security, which makes it an option well worth checking out for anyone who wants to keep track of their Bitcoin wealth on the Android operating system.

Mycelium’s Popularity Has Not Been Exaggerated

Bitcoin wallets, particularly those on mobile devices, need a high convenience factor before they can be embraced by mainstream users. Mycelium checks all of the right boxes in this regard, as it is easy to get accustomed to the app. Adding a new wallet address, or importing an existing one, is very straightforward. Users also have an option to set up a watch-only address, which is a nice plus.

For advanced users, the numerous integrations offered by the wallet will be more than welcome. Not too long ago, Mycelium integrated Cashila and Glidera support to handle fiat payments, making it easier to buy and sell bitcoin for fiat currency. Full-fledged fiat accounts will be coming to Mycelium soon, and their website has a slew of other upcoming features list.

Unlike most other mobile Bitcoin wallets, Mycelium comes with a Local Trader function. This feature allows any user to exchange bitcoin with other people on the network in a decentralized manner. Funds are transferred between users directly, without having to rely on third-party service providers. Moreover, the end-to-end encrypted chat feature is a great tool to discuss specific details regarding the upcoming Bitcoin transaction. There is no need to sign up for a Local Trader account either, as accounts are generated using the Bitcoin private key.

 

Security-wise, the Mycelium Bitcoin Wallet is one of the leaders in the market right now. Mycelium supports Hierarchical Deterministic wallets and embedded the Bit ID protocol for secure authentication. Using a regular PIN code to unlock a wallet and complete transactions can be enabled as well for extra security. Users who value their privacy can enable the Tor network to communicate with the backend servers. Do keep in mind enabling this feature may slow down performance a bit.

It is hard to find any complaints about the Mycelium wallet, as it has never caused me any issues in over three years of using it. There has been no downtime, no API issues preventing users from spending fundsĀ or no app updates that broke functionality. The built-in marketplace works just fine and does what it is supposed to do.

Any mobile Bitcoin wallet has room for improvement, and the one thing Mycelium lacks is a feature to find nearby merchants who accept Bitcoin payments. Other than that, the mobile solution offers something for both novice and experienced Bitcoin users, while focusing on security and convenience. All things considered, it is one of the best mobile Bitcoin wallet solutions in existence today.

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