Mycelium Bitcoin Wallet

[AussieHash]

Just uploaded a new version of the current 2.5.0 Beta, which now includes Ledger support - you can import accounts from Ledger Nano, HW.1 and (the not yet release) Ledger Unplugged (NFC card).

To test the new option, go to the Account-Tab, click the [add] Button and go to the [Advanced] section. Here youll find a new [Ledger] Button. Plug in your Ledger via an OTG-Cable and import an account.

[1714985685]

1714985685

[Jace]

Two feature suggestions:

1. Some audible indication if you receive bitcoins. Andreas Schilbach's wallet has a very neat 'tinkling coins' sound. Just something subtle. Would be a great addition in the user experience, I think (sounds crazy, but often I've heard "damn I love that sound of incoming coins!")

2. If you install Mycelium on a phone with European regional settings, use EUR as the default currency, instead of USD (as source, Kraken or BitcoinAverage are fine). There's always a lot of confusion getting newbies to switch from USD to EUR, especially since not only do you have to find and check EUR, but also uncheck USD.

Thanks for your consideration.

[syndria]

Mycelium public address can only be used once? Im confused if i can still receive a payment to my mycelium btc address twice or more than twice even address has changed,?

Hope you get it. .

[RustyNomad]

Mycelium public address can only be used once? Im confused if i can still receive a payment to my mycelium btc address twice or more than twice even address has changed,?

Hope you get it. .

All your address within the wallet remain valid meaning that you will always receive any funds that is sent to any of your old addresses. MyCelium, and almost all other wallets, uses a new key for every transaction in order to keep your transactions private.

You can give out your old address to anybody if you want and or print it on a business card. As said, any funds send to those old addresses will still end up in your wallet.

[syndria]

Mycelium public address can only be used once? Im confused if i can still receive a payment to my mycelium btc address twice or more than twice even address has changed,?

Hope you get it. .

All your address within the wallet remain valid meaning that you will always receive any funds that is sent to any of your old addresses. MyCelium, and almost all other wallets, uses a new key for every transaction in order to keep your transactions private.

You can give out your old address to anybody if you want and or print it on a business card. As said, any funds send to those old addresses will still end up in your wallet.

That sounds good then. I havent tried to send some of my coins to an old mycelium addresses but what you have said  that is somehow the same with xapo. And what If i prefer to use a single mycelium address more often than use the address created per transaction,  would it be still safe?

[RustyNomad]

Not as safe as it would be using a new address but best if you do a search here on the forum for topics dealing with this as I'm no expert when it comes to the risks and or security aspects that come into play when you reuse a single address.

One thing I do know however is that you will give up a lot of your privacy by reusing a single address. Any person to whom you gave that address will be able to see every single transaction linked to that address if they lookup the address on the blockchain. So your clients and or friends can see every transaction linked to that address which might not always be the ideal thing when it comes to privacy.

[OnkelPaul]

And what If i prefer to use a single mycelium address more often than use the address created per transaction,  would it be still safe?

There are 2 reasons why it is generally advisable to use each receiving address only once:
1. Your privacy is protected a little more, as it is not directly visible on the blockchain that these two payments went to the same wallet/person (but you should be aware that when you use such funds in a transaction together, the relationship becomes apparent)
2. There is a remote possibility that the security of a private key is a little bit weaker after you have spent the funds sent to the corresponding address, because for that transaction the public key needs to be presented (as long as you don't spend funds that were sent to an address only the address is known, which is derived from the public key but not the key itself.) I don't know whether this is an actual risk or only a hypothetical one, but especially when you deal with larger amounts of bitcoins it is better to avoid risks.

Onkel Paul

[Richy_T]

Thanks for all of your reply guys. I will use Mycelium since my phone is not rooted I think its safe for me to use, I don't have plant to store my btc on Mycelium wallet since I will transfer it on my main wallet and sell it. Maybe I can use Trezor in the future if I plan to keep my btc's for a long time.  

Why use your mycelium wallet anyway if you're not planning on storing it there long term?

Not that there's anything wrong with Mycelium. There just may be a better way to achieve your aims.

[teemus]

im wondering if this would be a better option than storing my coins on coinbase.do they plan on releasing app for ios soon? and do they require id checks like the circle wallet.

[syndria]

And what If i prefer to use a single mycelium address more often than use the address created per transaction,  would it be still safe?

There are 2 reasons why it is generally advisable to use each receiving address only once:
1. Your privacy is protected a little more, as it is not directly visible on the blockchain that these two payments went to the same wallet/person (but you should be aware that when you use such funds in a transaction together, the relationship becomes apparent)
2. There is a remote possibility that the security of a private key is a little bit weaker after you have spent the funds sent to the corresponding address, because for that transaction the public key needs to be presented (as long as you don't spend funds that were sent to an address only the address is known, which is derived from the public key but not the key itself.) I don't know whether this is an actual risk or only a hypothetical one, but especially when you deal with larger amounts of bitcoins it is better to avoid risks.

Onkel Paul

I get the point now,  but what if i  create a paper wallet using mycelium and it uses a single key? I dont have any knowledge regarding this but i had read some comments of it. care to correct me if im wrong,  what i actually think is that if i receive funds to my public key then spend some can the private key be traced? Or the relationship between the two?

im wondering if this would be a better option than storing my coins on coinbase.do they plan on releasing app for ios soon? and do they require id checks like the circle wallet.

What i dont like is that i gain more fees with it that using any other wallet,  which fees covered by the wallet or company itself. 

[Richy_T]

Why use your mycelium wallet anyway if you're not planning on storing it there long term?

Not that there's anything wrong with Mycelium. There just may be a better way to achieve your aims.

By which I mean, for example, if you want to receive funds and you want to use a QR code, you could generate a new key in your destination wallet and add it as a watch-only address on mycelium (or print out the QR code if you'd prefer but using mycelium this way would let you watch the confirmations).

[RustyNomad]

What i dont like is that i gain more fees with it that using any other wallet,  which fees covered by the wallet or company itself. 

You can also look at Xapo then.

Its a good online wallet and they already have an app out for ios. They cover all your fees and also offer a debit card which is directly linked to your wallet so you can use your wallet balance for purchases just like with any other debit card or you can withdraw your funds at an ATM.

[syndria]

What i dont like is that i gain more fees with it that using any other wallet,  which fees covered by the wallet or company itself. 

You can also look at Xapo then.

Its a good online wallet and they already have an app out for ios. They cover all your fees and also offer a debit card which is directly linked to your wallet so you can use your wallet balance for purchases just like with any other debit card or you can withdraw your funds at an ATM.

I already have xapo and i normally use it to bet in gambling since it has no fees i gain more profit every gambling i win   which is nice

[RGBKey]

... Some audible indication if you receive bitcoins. Andreas Schilbach's wallet has a very neat 'tinkling coins' sound. Just something subtle. Would be a great addition in the user experience, I think (sounds crazy, but often I've heard "damn I love that sound of incoming coins!")...

Agreed, weren't the devs talking about not being able to add notifications though? I would really, really like to be able to receive push notifications/have a sound when coins are received.

[Rassah]

If your pass phrase is long enough to be secure, do you really want to type it in every time you need it?

Yes, that's exactly what I want. I want to be able to unlock my private keys for a specified amount of time by typing the passphrase. The same as Bitcoin Core does. I spend from Mycelium maybe once a month. I can handle typing my passphrase that often. I type it into Bitcoin Core more often than that, and it's not a problem at all.

Use BIP38 encrypted paper wallet, which you can spend from using cold storage option in Mycelium. Change goes back to the paper wallet address.

Two feature suggestions:

1. Some audible indication if you receive bitcoins. Andreas Schilbach's wallet has a very neat 'tinkling coins' sound. Just something subtle. Would be a great addition in the user experience, I think (sounds crazy, but often I've heard "damn I love that sound of incoming coins!")

We keep getting asked this, and we keep having to explain that this is terrible for privacy. The only way a wallet can know that you have received coins is to constantly keep asking a node for an address babalce. Whoever runs that more then knows that that's your address. And with HD you would be pinging multiple addresses, so the node will know they all belong to you, and will be able to piece together your entire transaction history.

By the way, for you guys in Europe, check out Mycelium's Cashila integration. I can't use it since I'm in US, but if you register on Cashila and register your Mycelium wallet with your account, you can send money to any IBAN/SWIFT account directly from the wallet (to pay bills or transfer cash into someone's account)

[RustyNomad]

By the way, for you guys in Europe, check out Mycelium's Cashila integration. I can't use it since I'm in US, but if you register on Cashila and register your Mycelium wallet with your account, you can send money to any IBAN/SWIFT account directly from the wallet (to pay bills or transfer cash into someone's account)

Just an added note on that for those who make use of a Trezor together with MyCelium. You can now also sign into Cashila making use of your Trezor.

[btchip]

It wasn't posted here I think - if you got the latest Mycelium beta and a Galaxy S6, S6 Edge, S6 Edge Plus, Note 5, or an Exynos CPU Note 4 (SM-N910C and SM-N910H), you can also test Ledger Trustlet, a virtual hardware wallet you can download for the Trusted Execution Environment of your smartphone - more details on https://www.ledgerwallet.com/beta/trustlet

[dooglus]

I want to be able to unlock my private keys for a specified amount of time by typing the passphrase. The same as Bitcoin Core does. I spend from Mycelium maybe once a month. I can handle typing my passphrase that often. I type it into Bitcoin Core more often than that, and it's not a problem at all.

Use BIP38 encrypted paper wallet, which you can spend from using cold storage option in Mycelium. Change goes back to the paper wallet address.

Address reuse? But I want an HD wallet, not an old-style address-reuse wallet.

we keep having to explain that this is terrible for privacy

Quite!

[tspacepilot]

Two feature suggestions:

1. Some audible indication if you receive bitcoins. Andreas Schilbach's wallet has a very neat 'tinkling coins' sound. Just something subtle. Would be a great addition in the user experience, I think (sounds crazy, but often I've heard "damn I love that sound of incoming coins!")

We keep getting asked this, and we keep having to explain that this is terrible for privacy. The only way a wallet can know that you have received coins is to constantly keep asking a node for an address babalce. Whoever runs that more then knows that that's your address. And with HD you would be pinging multiple addresses, so the node will know they all belong to you, and will be able to piece together your entire transaction history.

Sorry for my ignorance, but isn't this more general than playing a sound.  Presumably, you want to update the wallet balance from time to time anyway.  Don't you have the same address pinging privacy problem no matter whether or not you play a jingle?  I don't understand the connection to the audio file.

[dooglus]

Sorry for my ignorance, but isn't this more general than playing a sound.  Presumably, you want to update the wallet balance from time to time anyway.  Don't you have the same address pinging privacy problem no matter whether or not you play a jingle?  I don't understand the connection to the audio file.

I'm not sure the Mycelium app updates the balance automatically. I often have to hit the refresh icon to see changes, but that could be because my Internet connection has a high latency, idk.