Topic: Mycelium HD Account (Read 702 times)

Feel free to create a new topic in the right section if you don't find a solution.


Mycelium does give you a new address each time you receive coins to the 'current receive address'.
As far as i know you can't manually create another address within one HD account.

You can create another HD account (but this probably is not what you want ?)


Mycelium is a BIP32 and BIP39 compatible wallet.
All private-/public- keys created by mycelium can be derived from the mnemonic seed you were told to backup when creating the wallet.

The first address of the first HD account is being derived with this path: m/44'/0'/0'/0/0
The second address of the first HD account is derived with this path:     m/44'/0'/0'/0/1

The first address of the second HD account is being derived with this path:      m/44'/0'/1'/0/0
The second address of the second HD account is being derived with this path:  m/44'/0'/1'/0/1
The third address of the second HD account is being derived with this path:     m/44'/0'/1'/0/2


The mnemonic seed (12 or 24 word seed) is everything you need to derive ALL private-/public- keys created by mycelium.

How can I create a New btc address for MyCelium Wallet? If I will add a new btc address under 1 HD account, is it associated with the first address that has been created? Can you please enlighten me? I don't want to create a new topic in bct that's why I use the search button cause I feel that my question has been asked a thousand times.

Ah i see... thanks a lot!

Remove the first "/"...

The quote tags are used as follows:

Oh wow thanks guyz! This was really A LOT and FAST INFO for this amount of time i posted this... Thank you both!

Edit 1:

[/quote]
What do you mean? This is the official website and it's working: https://wallet.mycelium.com/
[/quote]

I couldnt open it.. It was just loading and nothing else happened... It looks like it working now


Edit 2: It looks like i dont know how to properly quote single line... Sorry

It's actually one transaction per address. You can create a HD wallet, where Mycelium will give you one address per transaction to improve your privacy.

Understand that wallet =/= address; An HD wallet will generate a new address after each transaction. This means that you can receive 1 BTC in X address and 2 BTC in Y address. This way people can't know that both addresses belong to the same people.

What do you mean? This is the official website and it's working: https://wallet.mycelium.com/

Depends on how you build your cold storage wallet. Usually, you will create a wallet in an air gapped computer, copy the xpub or address and create a read only wallet in your online PC. This way you can see your balance and create a transaction to get signed by the private key in the air gapped pc and sent to the network through the online pc. Online PC transaction -> Send to offline PC and sign -> Send to online PC and broadcast.

When sending BTC to a new address, it will always go through the blockchain. It's like sending money to anyone else.

My suggestion is: Electrum for PC and Mycelium for android.

1) HD wallets create a new address and send the change to that address

2) They have a website? Why would you need to use that? My app has been working for years with zero problems.

3) Create cold storage and add the public key as a watch only address

4) Sending money from any bitcoin address to another will be like any other transaction.

I got few questions about Mycelium wallet. A lot of people say, you are not supposed to keep all your BTC in 1 wallet, and dont do mroe then 1 transaction on 1 wallet because of security. So how does that work on Mycelium wallet?

1) What is advantage of HD wallet? (how i have understood - Mycelium wallet will replace itself when i send my BTC on that wallet and new one will be made automaticly so my Btc transaction cant be followed) - did i understand this good or i was wrong?

2) Why currently site for Mycelium and Mycelium wallet doesnt work?

3) Cold Storage in Phone App - do i need to trasnfer certain amount of BTC there, and is it only "read only"  or i can use it for transactions as well?

4) I tried making 1 more HD Account(i have one) but all i was getting was some kind of error(i think 3 updates ago from playstore)... When i transfer money from 1 HD Wallet to another - is that same as transfering money to someones else wallet and whole transaction goes through blockchain or is something else?

I know this questions may sound dumb, but i still havent decided which wallet will be "THAT WALLET". First one that i started with was Mycelium and i would really like to get more into this(planning soon to buy Ledger Nano S) and i really like that there is possibility of Mycelium connecting with it.

Cheers