Mycelium Digital Currency Wallet

What is the Mycelium Wallet?

What can we say about the lauded Mycelium? Well their wallet is quite good, we say quite because it is mobile centric, a mobile phone wallet. Mycelium, in our opinion, has overlooked an opportunity to utilise the stronger processing power of desktop machines by exclusively catering to the mobile market.

How does it work?

Equipped with effective security, in the form of encryption, for all transactions and a cold storage capability Mycelium seems to tick the relevant security boxes.

What we think makes Mycelium stand out is its ‘Local Trading’ platform. It acts as a peer-to-peer trading environmnt pairing a buyer and a seller based on GPS co-ordinates. If the urge to trade with someone geographically close is of paramount importance than this is the wallet you need.

We strongly recommend populated public spaces for crypto to fiat transactions via the Local Trading platform. There have been reports of scams, which is somewhat concerning, so extra care should be taken when using the ‘Local Trading’ function.

Mycelium overview by Altcoinium

Again, not a wallet we would recommend to beginners as a fair amount of configuration is required before the transactions are handled relatively seamlessly (albeit with slow processing times), nevertheless we believe Mycelium to be the most feature rich mobile bitcoin wallet.

Compatible with Android and iPhone only.

Download the latest version here.