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Mycelium






Mycelium has been around since the beginning of the crypto era, and the is one of the oldest and best-known bitcoin wallets. This is a mobile-only wallet -- there is currently no desktop version -- that supports both Android and iOS. 

The Mycelium wallet has an appealingly simple interface but it supports fewer kinds of crypto than others profiled here: You can send and receive bitcoin, ether and ERC-20 tokens such as tether USD, USD coin and binance USD -- but not the hundreds of esoteric coins that have been developed over the past few years. You can buy and sell bitcoin directly in the app, and Mycelium lets you buy bitcoin with regular fiat currency. 

The Mycelium wallet is noncustodial, so you'll have sole access to your private key and PIN. This wallet is also the only hot storage wallet on our list that's completely open-source. Though there are security advantages in that, it also comes with limited tech support options; basically, if you get stuck, you can submit a help ticket to the email address listed at the [url=]bottom of the webpage. 

For more advanced users, Mycelium supports QR codes, allows you to set custom transaction fees and offers compatibility with hardware wallets from Trezor, Ledger and KeepKey. 

































Best bitcoin and crypto wallets, compared



















Best for beginners





Best for security





Best balance between accessibility and security





Best for desktop





Best for mobile users













Wallet





Coinbase wallet





Trezor Model T





Ledger Nano X





Exodus





Mycelium











Wallet price





Free





$221





$119





Free





Free











Offline storage





No





Yes





Yes





No





No











Custodial





No





No





No





No





No











Mobile version





Yes





Compatible with [url=https://abcnews.go.com/search?searchtext=mobile%20app]mobile app





Compatible with mobile app





Compatible with mobile app





Yes











How many supported coins and tokens





11+





1,800+





1,800+





140+





10+













FAQs







Do I need a crypto wallet?


















If you want to invest in cryptocurrency, you should invest in a wallet. That noted, if you're just dipping a toe, services such as PayPal and Robinhood allow you to buy a coin or fractions of a coin and store it on their servers. These are custodial wallets, however, where you don't hold the private key. We recommend noncustodial wallets for long-term cryptocurrency users and investors.























How much money do I need to open a crypto wallet?


















It depends. Hardware-based wallets generally cost between $100 and $200, though many software-based wallets are free. Most don't require you to actually own any cryptocurrency.























Which wallet is best for beginners?


















If you've never used cryptocurrency before, we recommend Coinbase Wallet. Coinbase is a well-known, US-based crypto exchange that's easy to use, and it works well with Coinbase Wallet.























Which wallet is best for advanced users?


















Today's cold storage e wallets can be quickly and easily connected to the internet for fast transactions, so most advanced users nowadays are probably most interested in a cold storage wallet. The hardware wallets sold by Ledger and Trezor are both good options. 























What are the risks?


















Cryptocurrency is subject to far less regulation than conventional investments and securities. While the lack of oversight is an attractive feature to some investors, it's important to know that bitcoin and other cryptocurrencies are highly volatile, experience dramatic price swings on a daily or even hourly basis and lack many of the protections of other forms of investment. The risks are significant.























Are assets in crypto wallets insured?


















While the companies offering crypto wallets may offer some guarantees to customers and users, the Federal Deposit Insurance Co[url=]the FDIC, are gathering information and considering legislation for the future. 























What's the safest crypto wallet?


















Cold storage wallets are generally thought of as a more secure way to store cryptocurrency when compared to a hot storage wallet. If you plan to store a large amount of coins or tokens for any length of time, we recommend using a cold wallet. 

















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The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.




















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