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Author Topic: Mycellium vs CoinBase?Whats the difference?  (Read 254 times)
The Sceptical Chymist
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April 12, 2021, 01:04:53 PM
 #21

I recommend Mycelium. But I reckon that there are many kinds of people in this world and both types of wallets have pluses and minuses, so please make your own choice.
Mycelium is certainly a good wallet for mobile, but I'd go with Electrum either for desktop/laptop or mobile over Coinbase or Mycelium in a heartbeat.  I would definitely not hold coins on Coinbase, as they're an exchange and you're giving up your privacy as well as taking the risk that there might be some hack, although I don't think Coinbase is nearly as dangerous as some of the other exchanges.

Last time I used Mycelium there were only three fee tiers, and I wasn't able to set the network fee to exactly what I wanted it to be.  I don't know if they've fixed that or not, but that's my only gripe with their wallet.  I stopped keeping crypto on my phone, though.  You never know what's going to happen if you lose it or break it or whatever.  If you've got the seed you can restore a wallet easily enough, but if someone steals your phone and you don't have your wallet password protected, you could be screwed.

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April 12, 2021, 02:17:50 PM
 #22

Mycelium is certainly a good wallet for mobile, but I'd go with Electrum either for desktop/laptop or mobile over Coinbase or Mycelium in a heartbeat.

For desktop I also recommend Electrum.
But, afaik, sadely Electrum for mobile still doesn't support hardware wallets. And, maybe I am paranoid, but I would not use a mobile wallet without being paired to a HW.

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April 12, 2021, 03:12:35 PM
 #23

Mycelium is certainly a good wallet for mobile, but I'd go with Electrum either for desktop/laptop or mobile over Coinbase or Mycelium in a heartbeat.

For desktop I also recommend Electrum.
But, afaik, sadely Electrum for mobile still doesn't support hardware wallets. And, maybe I am paranoid, but I would not use a mobile wallet without being paired to a HW.
For my better understanding, electrum mobile wallet does not support hardware wallets? But it can also be imported into another wallet why didn't it support a hardware wallet?
I'm asking this question cause I have never used a hardware wallet and I don't know how it works but I understand electrum wallet.
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April 12, 2021, 03:30:41 PM
 #24

For my better understanding, electrum mobile wallet does not support hardware wallets? But it can also be imported into another wallet why didn't it support a hardware wallet?
I'm asking this question cause I have never used a hardware wallet and I don't know how it works but I understand electrum wallet.
You need an interface for communication between Electrum on Android and your hardware wallet it is not as straightforward as porting it from Windows to Android. Most of the hardware wallets uses USB and you'll have to use the phone's USB C port for communication which could be difficult.

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April 14, 2021, 07:13:53 AM
 #25

You need an interface for communication between Electrum on Android and your hardware wallet it is not as straightforward as porting it from Windows to Android. Most of the hardware wallets uses USB and you'll have to use the phone's USB C port for communication which could be difficult.
I know that Ledger sells the required cables in their shop. They call it the Ledger OTG Kit. Wouldn't that be enough to pair Electrum mobile and a Ledger hardware wallet?

It's a set with three different cables:
USB-C to Micro-USB
USB-A to Micro-USB
USB-C to USB-C

The price is ridiculous - €15, but cheaper alternatives can be purchased in tech shops. 

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April 14, 2021, 07:17:22 AM
 #26

I know that Ledger sells the required cables in their shop. They call it the Ledger OTG Kit. Wouldn't that be enough to pair Electrum mobile and a Ledger hardware wallet?

It's a set with three different cables:
USB-C to Micro-USB
USB-A to Micro-USB
USB-C to USB-C

The price is ridiculous - €15, but cheaper alternatives can be purchased in tech shops. 
Electrum currently does not communicate with any USB devices on their Android version. You need some sort of interface code to be able to communicate with it in the first place. Implementing that first would be the first step in supporting HW wallets, which AFAIK is in the pipeline.

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April 14, 2021, 07:36:53 AM
 #27

Ledger OTG Kit

OTG cable or adapter is the same - well, if depends on the phone's USB type, but that's all - and can be bought from anywhere. You have to be only careful that the cable is data cable.
I've bought mine for about 50 cents from AliExpress some years ago, it's a tiny adapter I have to insert into the USB cable, hence I use it together with Nano S factory cable.
But, while it works with Mycelium, it cannot work with Electrum, simply because that part is not implemented in Electrum for Android.

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April 15, 2021, 04:14:52 AM
 #28

I am currently using Mycellium wallet and all the people around me use Coinbase and boast about how there are no fees,should i consider switching to Coinbase?
What is the difference between the both,which one would you recommend and which one do you use?


I would recommend coinbase, because it's better than the other. I've been using it those days that I am busy with my trading and I never encountered any problems with their wallet. Everything went out smooth and I certainly proved to everyone else that their security is safer than those I don't experienced. With regards to mycellium, I never used that one since I got into crypto that's why I can't provide any inputs about their services.
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