Should You Use and Trust the Mycelium Bitcoin Wallet?

Yes, and:

I just restored a twelve-word seed wallet on Android, and it works fine.

Mycelium makes it trivially easy to recognize multiple HD wallets, “Accounts” it calls them, from the seed. Just add a new HD wallet, and they appear with the first account first.

Maybe not intuitive, but the help section mentions how to do it (not more than this is required, it is simple). Whether or not you find this an advanced feature or not will reflect its complexity for you. It is more like, “If you know you need it, then it is easy.” Otherwise, it would be baffling. It worked well for me. More concerning, though, is how its keys are stored.

Are the keys encrypted? In 2014 they were not encrypted. Are they encrypted today? Probably. It would be unexpected were they not. Still, it is vexing. Android encrypts its file system by default, so this makes it OK.

However, if you rooted your device, assume it is hacked, and the keys are accessible. Otherwise, it will probably be fine.

After using it for a week you’ll find that Mycelium is a great app that makes it fun and easy to manage Bitcoin.

And another reputable resource agrees.

They are not the maintainers of Bitcoin; they are a private website. However they’ve proven to be an excellent reputable site. However: trust but verify.

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