Mycelium is one of the most established and popular Bitcoin wallets available, so news that it’s joined the Foundation for Interwallet Operability (FIO) has whipped the crypto community into a frenzy. By joining the FIO, Mycelium is joining a consortium of wallets and crypto exchanges to make transfers as quick and simple as possible. Now, with the Proof of Keys movement gaining traction, more wallets being part of the FIO is critical to its longevity and success.
Part of a Global Alliance
When it comes to picking a crypto wallet, most people opt for one that’s simple and easy to use. After joining the FIO, Mycelium wallets will be able to simplify the process and make transferring money from exchanges to wallets as simple as using PayPal. On top of this, if users wish to transfer between wallets, using wallets that are part of the FIO will also be incredibly simple, helping push mass adoption closer to becoming a reality.
Standardized Set of Rules
The FIO is hoping to create an ecosystem full of standardized development kits and protocols to make the transferal of crypto much simpler and safer. With standardized development kits and protocols, there will be no chance for crypto to be sent to the wrong address or go missing mid-transfer. FIO is hoping to make storing crypto safely as simple as using a modern banking app.
Fake Wallets Hitting the Shelves
Fortunately for Mycelium, its wallet is a mobile phone-based wallet, meaning you will carry your crypto wherever you go. However, some wallets are similar to USB drives and are designed to be stored in a safe. A batch of nearly identical Trezor One wallets has been spotted and the fakes are incredibly good. They are hard to discern from the real thing and come at a discount, meaning many people will fall for it and buy one. This is dangerous, as the integrity of the device isn’t guaranteed and you could end up losing all your crypto. Play it safe and use Mycelium’s mobile app wallet.
Mobile Wallets for Crypto Holders On the Go
Mycelium is so popular due to the fact it’s a mobile wallet. This means your crypto is constantly with you and allows you to make purchases or trades on the go, no matter where you are. By joining the FIO, crypto holders will be able to transfer their crypto with even more ease, essentially perfecting the Mycelium wallet.
Foundations like the FIO are widely undervalued by the greater crypto community, but they add real value to the crypto world. By making transfers of crypto as easy as possible, mass adoption becomes more realistic and attainable. If transferring and storing crypto becomes safe, simple and quick, even novice crypto holders will be able to get a firm foothold in the cryptocurrency space.