Category Archives: Bitcoin Wallets
One of the most interesting things about the Bitcoin phenomenon in the last several years has been that no definitive “best” wallet option has emerged. There are a lot of different options out there, and this may even be partially responsible for why many consumers are still confused by how to store and use cryptocurrency. However, long-time crypto company Mycelium is now making major moves to expand and improve its platform, and perhaps become the go-to name in Bitcoin wallets.
Having run a crowdsale campaign through much of May (which essentially offers equity to average consumers who want to buy into the company with cryptocurrency), Mycelium is closing in on $1 million in funding, in the form of over 2,100 Bitcoins. The process has established a hefty $19 million valuation for Mycelium, and that number alone makes the company a power player in the wallet market. Additionally, in conjunction with the crowdsale campaign, Mycelium managed to integrate Glidera, a company primarily known for the safe and secure processing of Bitcoin transactions. The report about the crowdsale lists compliance, payment fraud management, and liquidity challenges as areas that Glidera will handle.
If you’re not familiar with these companies or you’re not a regular Bitcoin user, you may be wondering what exactly Mycelium does for its users. This is a fair question given that there are actually several types of Bitcoin wallets that are popularly used by cryptocurrency holders. Mycelium falls into what’s sometimes considered to be the “main” type of Bitcoin wallet, which is one that provides a mobile-based solution for Bitcoin storage and transactions. Other software wallets still actually operate exclusively from desktops, but Mycelium has positioned itself more as an app, and indeed already has over 2,000 ratings on Google Play.
Again, at this moment there’s not really a definitive leader in the Bitcoin wallet market. However, the aggressive moves made by Mycelium of late, adding Glidera and running an ambitious crowdsale campaign, could be positioning the company pretty well to take up the mantle. They’re also working on developing their wallet into the most comprehensive and convenient option out there. Specifically, the folks at Mycelium are concentrating on allowing people to run businesses through the app, connecting Bitcoin users with the companies from which they wish to make purchases. Additionally, the app is growing to support multiple cryptocurrencies and other assets based on the Bitcoin blockchain. In other words, it’s a one-stop app for users’ cryptocurrency holdings, rather than simply a standard Bitcoin wallet.
There are still a lot of alternatives out there, but this may be the closest we’ve come to seeing a true leader emerge in Bitcoin storage.