Is Mycelium still trustworthy ? | Bitcointalksearch.org

harizen

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Quote from: hasmukh_rawal on February 14, 2019, 01:55:35 AM

Since I am not trading anymore I just decided to move all my coins to Mycelium. I opened up the playstore on my Android phone and went on to install the Mycelium Bitcoin wallet app. It was then that I read the reviews and noticed that many users are complaining that their balance showed 0 all of a sudden.
Is this true ?
Has this happened to anyone of you recently ?
Shall I proceed with transferring my bitcoins to Mycelium ?

Comments and suggestions are welcome. Note that I want to download a wallet on my smartphone whose private key I can hold.

If you will based on majority of users experience, at least I can say that Mycelium is still "trustworthy" to used. But it's your decision if you will follow or not. As for my experience, I never deal with such minor or major problem using this mobile "wallet".

The security of our wallet is in our own hands. Backup your words phrase, backup your keys, backup whatever you think should be backed up.

The 0 balance thing might be a bug since no such thing as outgoing transaction made and funds can clearly be seen at block explorer. Server sided error I guess.

BitMaxz

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Quote from: Lucius on February 14, 2019, 08:45:54 AM

I think most people will agree that crypto wallet on smarthphones should only be used for smaller amounts. So if you stop trading and now you have more then 1000$ worth of coins I would not recommend that you use Mycelium or any other phone wallet. This is just not the correct way how to keep cryptocurrency if you plan to hold it for long time.

However if you have a few hundreds $, and you like to keep coins always in your pocket Mycelium is not bad solution, but you need to prepare yourself to possible problems with synchronization which happen to some users.

I think using the phone as you bitcoin wallet is fine just make sure you are not using a clone smartphone or any china mobiles which is rooted mostly.
Samsung phones are the best smartphone where you can save your bitcoin safely because it has their own security feature, unlike clone or China phones. I suggest electrum mobile wallet and I think mycellium is fine I'm using this wallet for a long time and I don't experience any issue yet except for one problem it sometimes the funds is ZERO but it solves after I reload or refresh the whole wallet.

Lucius

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Quote from: hasmukh_rawal on February 14, 2019, 01:55:35 AM

Since I am not trading anymore I just decided to move all my coins to Mycelium.
Comments and suggestions are welcome. Note that I want to download a wallet on my smartphone whose private key I can hold.

I think most people will agree that crypto wallet on smarthphones should only be used for smaller amounts. So if you stop trading and now you have more then 1000$ worth of coins I would not recommend that you use Mycelium or any other phone wallet. This is just not the correct way how to keep cryptocurrency if you plan to hold it for long time.

However if you have a few hundreds $, and you like to keep coins always in your pocket Mycelium is not bad solution, but you need to prepare yourself to possible problems with synchronization which happen to some users.

bL4nkcode

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Quote from: Herbert2020 on February 14, 2019, 02:03:14 AM

[...] instead of your phone since a cell phone can easily be lost or stolen since you carry it around while your PC is less in danger.

That's why a backup is a must to recover your funds in case of phone lost.

Quote from: hasmukh_rawal on February 14, 2019, 01:55:35 AM

I opened up the playstore on my Android phone and went on to install the Mycelium Bitcoin wallet app. It was then that I read the reviews and noticed that many users are complaining that their balance showed 0 all of a sudden.

Most of the reviews there who had problems are expecting that mycelium has support staff to answer and resolve their problems while using mycelium has the users full responsibility of using it, from any kind of lost funds and most of them are user's fault. Though there are sometimes that there's a software/server error which causes of not syncing the transactions and differs of balance in the app but that doesn't mean that your funds are lost, is just a software's bug your, funds can still be recovered using the seed and private keys.

I'm using mycelium eversince I started in crypto, (since 2015) and I always recommend this wallet to anyone.

dothebeats

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If you don't have the money to buy a trezor or a ledger wallet for long-term safekeeping and a smartphone is all you have, I suggest using Andreas Schildbach's Bitcoin Wallet which is fine and no major issues whatsoever have been brought up so far. Just don't try to do silly things and download unsafe files and items on the internet using the said smartphone as it is still prone to hacks and malware that could potentially steal your sensitive information and obviously your wallet data.

SiDtHeBeSt

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I myself have been using Mycellium for a long time and haven't faced such an issue myself though and also I had never heard of this before reading the post. Using some offline wallets or cold storage would be a safe option for storing bitcoins in large amounts. Mycellium is good for storing small amount of bitcoins .

bitfocus

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if you care about safety, you should keep your coins to a off-line wallet, like hardware wallets.

stompix

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Quote from: hasmukh_rawal on February 14, 2019, 03:53:46 AM

Thanks for the zero balance thread.
I would still consider to store my bitcoins on my smartphone since I always keep the backup of the private key in a password protected file and store it both on my smartphone and my PC. So I guess it is safe to store the bitcoins in a smartphone wallet.

You plan to keep the backup of your privatekeys on the same smartphone you keep your wallet?
Back-ups are supposed to be in a different place, if something goes wrong with your phone you lose your wallet and one of your back-ups, what's the point of it?

I would go for a nano s with the recovery seed stored somewhere safe and not in digital form.

1993jochico

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You already see that theres a bad review in there so theres no need for you to waste time for that app, you better stick to your old or take the risk of putting all of your money to that app and regret it one of this days.

boyptc

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You are asking if you should proceed transferring all of your coins there but you said from the beginning that you decided it already. If you are still thinking about transferring that and you just want to keep that for a long time, use a better wallet like ledger nano s.

I had no experience with mycelium but as others said, you should choose a better one.

hasmukh_rawal

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Quote from: Herbert2020 on February 14, 2019, 02:03:14 AM

if you want to "store" your bitcoins in some wallet and not touch it for some time then you should choose a safer option such as an offline wallet (cold storage) or at least keep a wallet on your PC instead of your phone since a cell phone can easily be lost or stolen since you carry it around while your PC is less in danger.

as for Mycelium, it is an open source wallet that has been around for quite some time now so it should be safer.
and for the 0 balance thing read this: https://bitcointalksearch.org/topic/mycelium-shows-zero-balance-bug-5091798

Thanks for the zero balance thread.
I would still consider to store my bitcoins on my smartphone since I always keep the backup of the private key in a password protected file and store it both on my smartphone and my PC. So I guess it is safe to store the bitcoins in a smartphone wallet.

theskillzdatklls

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Yeah, ditto. Mycelium is likely fine in general, especially for smaller amounts of use. I personally use Mycelium and have for years. But anything meaningful to you just get a Trezor or anything of the like. Ultimately, as they say, you have cost, speed or quality. Pick two.

Herbert2020

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if you want to "store" your bitcoins in some wallet and not touch it for some time then you should choose a safer option such as an offline wallet (cold storage) or at least keep a wallet on your PC instead of your phone since a cell phone can easily be lost or stolen since you carry it around while your PC is less in danger.

as for Mycelium, it is an open source wallet that has been around for quite some time now so it should be safer.
and for the 0 balance thing read this: https://bitcointalksearch.org/topic/mycelium-shows-zero-balance-bug-5091798

hasmukh_rawal

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Since I am not trading anymore I just decided to move all my coins to Mycelium. I opened up the playstore on my Android phone and went on to install the Mycelium Bitcoin wallet app. It was then that I read the reviews and noticed that many users are complaining that their balance showed 0 all of a sudden.
Is this true ?
Has this happened to anyone of you recently ?
Shall I proceed with transferring my bitcoins to Mycelium ?

Comments and suggestions are welcome. Note that I want to download a wallet on my smartphone whose private key I can hold.

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