Mycelium wallet is not the Mycelium ecosystem, but rather, this is a mobile Bitcoin wallet that is available on Android and iOS.
What is a mobile Bitcoin wallet?
Before you proceed to the types of mobile wallets, it is important that you know what a mobile Bitcoin wallet is. It is a type of wallet where your private key is stored in a mobile app. It is convenient and hassle-free because it is handy and you can easily use the wallet whenever you want to.
This kind of wallet can also be used if you want to play a Bitcoin dice game. You can transfer your coins to the casino and in return, they can let you play a free game or Bitcoin dice faucet on their Bitcoin dice sites. Other than that, you can also use the wallet when you want to purchase items on your local stores. A simple swipe on the QR code and you can have all the goods that you want.
What is a Mycelium wallet?
Awarded as “Best Mobile App” by Blockchain.info last 2014, Mycelium is a mobile Bitcoin wallet by Megion Research & Development GmbH. It offers features that you cannot resist. This wallet gives you 100% control of your keys. It stays on your phone unless you decide to export it to another wallet or device. You also have a direct connection to the Bitcoin network where you do not have to download the blockchain.
Considering your connection to the Bitcoin network, this wallet also has an address book and transaction histories. These will help you in keeping track of your payments or transactions. You can also pay with your cryptocurrencies and receive fiat currencies or vice versa. You do not have to worry that your coins will be lost because this wallet has a PIN. There is also a Backup and Restore feature.
Other Mycelium services
Apart from being a mobile wallet, Mycelium works as a Gear, Swish, Card, and Entropy. The Gear works as a payment processor. It makes sure that your money will directly go to the receiver and vice versa. You do not have to worry about the fees because it is free. The Swish helps you order food and immediately pick it up. You can easily satisfy your cravings with a simple app.
The Card works as a wallet for your coins. It is connected to a computer where you can make payments. It is battery operated and an interesting part is that it can make at least 100 payment operations in one cycle. Lastly, Entropy is a small device that creates Bitcoin paper wallets. These services only made Mycelium as one of the best wallets out there.