How to setup Mycelium

How to setup Mycelium

Tutorial – How to setup the Mycelium wallet

The Mycelium wallet, is one of the more established wallets to be used on Android phones. Mycelium has bot developed with state of the kunst security and convenience te mind, and has become the go-to wallet for Android devices. Mycelium further supports the use of the Trezor hardware wallet, to enable users to access their high-security coin storage, right from their phone.

Ter order to get the Mycelium bitcoin wallet, you open up your google play store, find and install the Mycelium Bitcoin Wallet, spil shown here.

Step 1 – Getting commenced with Mycelium

Once the wallet has bot sucessfully installed, you can go ahead and open the app.

Here you will be asked to choose if you want to restore from a backup or create a fresh wallet. If this is your very first time installing Mycelium, go ahead and click Create Fresh, to setup your very first bitcoin wallet.

  • The wallet will now be setup and will generate your bitcoin public and private keys

If you have used Mycelium previously and have your recovery phrase handy, please choose Restore Backup and finish the backup wizard to recover your previous wallet. Thesis steps are not described here, so if you problems with this process, please feel free to voeling our customer service here, where wij will be more then glad to help you with the process.

Step Two – Completing the setup

  • The wallet will now be setup and you will very first be asked to create a Speld, that you will use every time you access your bitcoin funds.

After you have set a Speld, your wallet is now ready to use. However wij strongly urge you to keep reading and to setup a propper backup of your wallet, te case you should lose your phone.

  • Click Backup

Step Trio – Keeping your recovery phrase safe

During this wizard, you will be shown 12 words that you need to write down. DO NOT write them down on any device connected to the Internet or take a screenshot for that matter. If a hacker were to get a hold of this sequence of words, he would be able to steal all of your bitcoins.

Instead, go ahead and grap a schrijfstift and a chunk of paper and write thesis words down the old style way.

Once you have recorded this sequence of words, wij recommend that you keep this lump of paper te a bankgebouw vault or safety deposit opbergruimte, preferably one that your relatives will have access to if anything, heerser forbid, were to toebijten to you.

Related movie: How to Setup a Antminer S7 or S9 (Pool & Network)

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