Cryptocurrency wallets have become very popular due to the large number of advantages we have if we work with them. Without a doubt, it is very necessary that we have a digital portfolio to store our cryptocurrencies and that is why, today we are going to recommend Mycelium.
It is a wallet that has been designed to offer us very complete storage services, being Bitcoin the main cryptocurrency with which works.
Mycelium wallet is the perfect portfolio to carry out our operations, since it not only has exclusive features, it also offers excellent security measures. Therefore, if you are interested in the world of cryptocurrencies, it is important that you know all the tools provided by this support and we encourage you to read our Mycelium review carefully to learn everything.
What is Mycelium?
At the moment we decide to work with cryptocurrencies, it is very important that we get the necessary elements to carry out our operations, which is why we should have a wallet like this one. Mycelium is a very complete wallet, but before knowing in detail all the services it provides, we must know what Mycelium is, so let’s get a little in the right situation.
The first thing we have to say about this wallet, is that it has enough experience in the market, since it has been in operation for some years now. Due to all the services it offers so that we can carry out our operations, Mycelium has become a very popular wallet among users and more and more are using it as their trusted wallet.
Although years of experience is a factor to consider, it must also be said that Mycelium is a famous wallet because it is part of the Megion Research & Development Gmbh. In case you do not know, it is all products that are used in the Bitcoin market and that is why Mycelium is presented as an ideal wallet to perform transactions with this type of cryptocurrency.
It is a wallet that has an open source system and one of the biggest advantages we have with Mycelium, is that it also puts at our disposal a special application for mobile devices that work with the Android system.
We must also say that Mycelium has gained great popularity because it is one of the few wallets that we find in the market today that offers us the possibility of saving our cryptocurrencies with cold storage.
What we mean by this is that, the moment we accumulate Bitcoins and want to save them, we can do it directly in our wallet that will be located outside the network. Thus, the system gives us an advantage, since we know for sure that we are not going to be exposed to any risk, since we have to take into account that in the network we can find a greater number of problems.
Another of the things that we have to highlight from Mycelium is that it offers several options on its website and it is also compatible with other systems and programs, which will make it easier for us to work with our cryptocurrencies.
Lightweight wallet version
In this matter, we have to say that Mycelium has the Lightweight wallet, which, if we decide to use it, does not need to download the entire blockchain system. Also, it is important that we make reference to that Mycelium, is compatible with TOR.
In case you did not know, this is a system of anonymity, which allows users to enjoy greater privacy when carrying out our transactions. It is a good measure of security, although we will talk about all this later. We don’t have to forget that Mycelium wallet is fully compatible with Trezor, another wallet that we can use for cryptocurrency storage, although it is totally external.
Although Mycelium is a wallet that provides us with good tools, experts recommend that we use it to work with small amounts of Bitcoins, although we must bear in mind that the wallet allows us to select several fiduciary currencies to perform all kinds of operations.
In this sense, we should comment that the main function that we can carry out with Mycelium is storage, since it is a wallet, but it also offers us the possibility of carrying out other movements through this support, as it is the case of sending or receiving cryptocurrencies in our wallet.
As you can see, working with Mycelium is quite simple, since it provides us with all kinds of tools and services so that we have all the guarantees at the time of operating. Since 2008, a group of software engineers started this project and currently, Mycelium has become one of the best wallets we have available in the sector.
So much so, that today it has a large number of partners, among which we can highlight Ledger Wallet, Trezor, bitWAGE, gatecoin or cashila, among others.
How does Mycelium work?
As with other similar supports, the operation of Mycelium is also very simple, since in a few simple steps, we will learn easily how we should use it. In this aspect, the first thing we must be clear is that we will not be able to carry out any operation without first having downloaded the application of this wallet.
This process is not very difficult, since the system itself offers this service through its official website. Keep in mind that Mycelium works with an application for mobile devices.
The first step: we go to your main portal and there we will find the download tab and with just one click, we will have it installed quickly. Similarly, we can also perform this same process directly from the official website of Play Store.
Mycelium is compatible with mobile devices that have Android, although we have to say that, for a while the system has also offers this service for iPhone and other Apple devices.
The second step: Once we have done this step and we have downloaded the application, then we will have to wait for the system to be installed, although this is a very fast process, it will only take a few minutes to validate.
Of course, for the installation to be carried out correctly, we will have to wait for the system to send us a text message, since in it, we will find a link that will allow us to fully validate this process and continue with the corresponding installation .
All this can be done easily if we want to create a new wallet, although we have to say that Mycelium allows us to restore a wallet that we had previously installed, or even re-establish the last backup made in the system.
The third step: After performing all these steps, the next thing we will do is analyze the main screen that will appear at the moment the installation process finishes. In this case, as we have already mentioned, in the menu we will find several tabs through which we can perform all the operations that we have available in this wallet.
As is the case of sending or receiving cryptocurrencies, storing them or even adding them. Whatever operation we want to perform, the only thing we have to do is click on the corresponding button and then it will be the system itself that will guide us so that we can carry out all the steps we must take in each case.
The fourth step: In addition to all these options, we also have to say that through the main panel we can consult, at all times, the balance that we have in our wallet. In the same way, the system provides us with a very complete tool so that we can see the balance that the wallet has and also, here we will also have the option of observing the address of our wallet.
Remember that the address is one of the most important elements that we must have controlled at all times, because without our address, we will not be able to carry out any type of operation with Mycelium.
After seeing the operation of Mycelium, it is evident that it will be very easy to work with this wallet, since it offers us very good tools and we can carry out a large number of operations.
As we have already mentioned, thanks to the services provided by this wallet, we will not only have the opportunity to store our cryptocurrencies, we will also be able to add them or even carry out transfers with them.
Precisely in the following sections of our guide, we will talk about all these options to which we are referring.
Mycelium wallet security
As we have already commented before, the security when carrying out operations with cryptocurrency wallet is very important. About this we have to say that with Mycelium we will not have any problem, since this wallet is considered one of the safest in the world.
Cold Storage: The first thing we have to discuss about the security measures of this wallet, is that it is a wallet that has cold storage service. It allows us to save our cryptocurrencies in a very safe way, since we will carry out this operation outside the network and therefore, we will not have to expose ourselves to big risks.
Legal transaction: Although cold storage is one of the most important points that we must highlight the safety of this wallet, we also have to comment that all the transactions that we make through this wallet will be totally legal and safe, since the system.
Password requirement: It will always ask us to establish a password to carry out each of these operations. The truth is that this key has to be personal and non-transferable and we will have to create it ourselves, being recommended that it be from the combination of uppercase and lowercase letters, with numbers and other typographical elements.
In addition, it is also important that we know that not only are we going to have to enter a password to perform our operations, we will also have to create our own PIN, so this is one more security measure that we have available in this wallet.
Backup: On the other hand, if we go to the main menu of Mycelium, besides being able to see all the tabs with the different options offered by the wallet, there is also a specific section where we will have the opportunity to make our own backup.
To activate this option, all you have to do is click on the button where it says “yes” and we will quickly have this service activated, so that we do not lose any information about all the transactions that we have carried out with this wallet.
Support: As you can see, the security in Mycelium is very complete, although these are not the only things that we have found, since the support also works with a system of words, which, we will have to enter in the menu whenever we go to carry out any operation with this support.
Of course, it will be a series of completely random words and it is advisable that they do not have a relationship between them, thus making the entry of cybercriminals into our wallet and the system itself much more difficult.
As long as we are clear that we want to carry out an operation with this wallet, we will have to include this series of words in the system, as well as the password and PIN that we have explained previously.
With all that we have just commented, we are quite clear that Mycelium is a perfect wallet for us to operate with cryptocurrencies. Without a doubt, the security measures that it offers us are excellent and thanks to them, we will be able to carry out our operations through this support in the best possible way.
If we were looking for a wallet that would provide good services in this regard, Mycelium is one of the best options that we can find today in the market. Taking into account the characteristics of this wallet and the security it has, you will surely want to work with this wallet as soon as possible.
For this reason, in the next section, we will give you all the details that how you will be able to add bitcoins to your wallet.
How to add cryptocoins to Mycelium?
Among the options we have available in this wallet, in addition to the storage that we have already explained, in this section we will give you more details of what are the steps we must take to add cryptocurrencies to this wallet.
The first step: As with most of the options offered by Mycelium, adding cryptocurrencies to this wallet will be very simple, for this, the first thing is to download the application, whose process we have explained previously and then, we will have to go to the main menu where we will see the option to “add” cryptocurrencies.
The second step: In this matter, we have to say that from Mycelium we can not directly acquire Bitcoins, but the good thing that we have is that this wallet is compatible with many systems that offer us this type of services, with which, the only thing that we will have to do is use an exchange or portal where we can acquire cryptocurrencies and directly, add them to our wallet.
In this case we must bear in mind that, to carry out this type of operations, we must include in the program that we have chosen for it, the address of our wallet, since without it, we will not be able to make any movement.
We must be clear that the support we have chosen to acquire the cryptocurrency, is fully compatible with Mycelium.
The third step: Once we have done all these steps, we will return to the main panel, to give the add button. Already in the program that we have chosen we have had to introduce the address of our wallet, with which, the system will execute this operation and we will be able to enjoy our Bitcoins easily in our wallet.
We must remember in relation to all this, that Mycelium is one of the few wallets that allow us to work with fiduciary coins, in the event that we have to make an exchange to get our Bitcoins or simply carry out the purchase process.
If everything we have done well, in a short time we can see in our purse the final balance that we have in it, taking into account that it will always depend on the amount of Bitcoins we want to acquire at each moment.
Once we have our cryptocurrencies stored, the system will allow us to make use of all the tools it offers us and from then on, we will be able to carry out all the operations that we need in order to obtain the greatest number of benefits.
Well, now that we know how we can add cryptocurrencies to our Mycelium wallet, it’s time to know what we have to do to send and receive Bitcoins through this wallet and precisely on this topic we are going to talk to you in the last section that we have developed for our article.
How to send and receive cryptocurrencies from Mycelium
Remember that Mycelium is a very complete wallet that allows us to carry out a large number of transactions, in this section we will detail all the steps we must take if we want to send or receive cryptocurrencies through this support.
Remember that the main function of a wallet of these characteristics is the storage of digital currency, however, Mycelium goes further, and offers us the possibility of making many other movements with all the tools it provides.
That said, we are going to break down each of these options, so that we have clear all we have to do if we want to carry them out correctly.
If we want to send cryptocurrencies through this wallet, follow the next steps:
The first step: we will have to go to the tab where we can read “balance”, which we will easily find in the main menu of the wallet.
The second step: Once we are in this section, we must give the button that says “send” and then we must add the address from which we will make the corresponding payment.
In this case, we have to say that it can be done in different ways, or by scanning the QR code that we have associated, we can also do it through the addresses that we have stored or even consult the ones that are in the clipboard.
The third step: Subsequently, we must introduce, manually, the payment that we are going to carry out in fiduciary currencies, in this case, Mycelium works mainly with euros. After all this, we will have to establish the amount or the amount that we are going to send and we will have to wait for the system to validate this operation completely.
The fourth step: Then, once we have the approval of Mycelium, we will introduce our PIN and finally send the corresponding transaction.
Just as Mycelium offers us the opportunity to send cryptocurrencies through its support, we can also receive the Bitcoins we want.Once again, the procedure to carry out this operation is very simple and the truth is that it is very similar to the process that we have explained in the previous section.
The first step: In this case, we will go back to the “balance” tab of the main menu but this time, we will have to click on the “receive” button.
The second step: When we are inside this section, we will have to add the address of the wallet from which we are going to receive the payment, or what we can do is include the amount that we will finally receive with this operation.
The third step: After carrying out all these steps, we will share the address and again, we will have to wait for the system to validate the operation we are about to perform.
If we have done this process properly, we will obtain the corresponding verifications in a very fast way and then, we will be able to see in the balance of our wallet, the final funds that we have obtained.
Remember that to receive cryptocurrencies with Mycelium, the support provides us with an address book, where we will have the opportunity to add all the addresses with which we have carried out transfers, so, when we want to send or receive cryptocurrencies again, we can go to this section and we will find the address that we need easily.
In this matter, we have one more advantage, and that is that the support offers us the possibility of adding labels or names to each address that we enter in the notebook, to facilitate the search at the moment we need to carry out any of these operations.
With which, we are quite clear that Mycelium offers us all kinds of services so that sending and receiving cryptocurrencies with this support is the easiest thing in the world and precisely for all these things, nowadays, it is one of the most used Bitcoin wallets. by the users.
Considering everything we have just seen about Mycelium, there is no doubt that it is an excellent wallet to operate with cryptocurrencies. This wallet offers us many services and options, so that we can make movements through this support without any type of problem.
It has never been easier to work with Bitcoins than before, thanks to all the tools it provides. In addition to its advantages and characteristics, we must also highlight the security measures it provides, since with them, we can operate with cryptocurrencies in Mycelium with the best guarantees.
Therefore, if you need a wallet to operate with your Bitcoins, it is highly recommended that you choose Mycelium as your trusted support.