‘Crypto-Swiss Knife’ Mycelium Wallet Announced

Gautham | April 27, 2016 | 9:30 pm
mycelium

‘Crypto-Swiss Knife’ Mycelium Wallet Announced

Gautham | April 27, 2016 | 9:30 pm

Earlier today, Mycelium officially announced the introduction of their new wallet. The new wallet application is expected to be a feature rich product with various integrations according to the company’s website.

The announcement about the new wallet was made on the well-known social media forum, Reddit by one of the company representatives. Simply called Mycelium, the wallet is expected to support various API integrations, allowing people to include their own service and feature offerings into the application. By allowing people to integrate their services into the wallet, the company is cutting down the time and resources it spends on manually integrating the features upon a partner’s or a vendor’s request. Now instead, any company or a bitcoin platform can use the available wallet API to plug in their offerings directly to Mycelium.

Another advantage as mentioned by in the announcement includes support for multiple cryptocurrencies and digital assets. This will allow Mycelium to become a universal wallet, allowing users to have just one wallet to meet all their cryptocurrency deposit, storage and transaction needs. The open API feature will come in handy as it will allow developers to create supporting wallet integrations to enable handling of other digital currencies like Litecoin, Dogecoin, Ethereum and even other digital assets and tokens like hotel keys and stocks. Once implemented, it will turn Mycelium into a ‘Crypto-Swiss knife’. Cryptocurrency users will be able to make do with just one application for all their needs. Also, Mycelium’s move to use ReactNative platform will allow users across all the platforms to have similar user experience on the application.

Mycelium has plans to include more features into their wallet application to help people maintain their digital finances as well. Going by the announcement, there will be accounting and bookkeeping functionality built into the wallet application. It will soon be possible for users to keep track of all their receivables and expenses and maybe even issue invoices over Mycelium if they run a business. Additional social media and contact book integrations will also make it easier to send or receive digital currencies and invoices through multiple communication platforms.

The actual timeline for the release of all the mentioned features is not yet available. But once released, it will turn out to be a useful tool. In order to support further development, the company is soon going to conduct a crowd sale, where people will be able to invest in the Mycelium Wallet project. The crowd sale round is expected to start next month.

All those buying the Mycelium tokens during the crowd sale will be indirectly investing in the company, helping them complete the development and market the product. Users will soon be able to take part in the Mycelium crowd sale, starting May 1, 2016, to buy Mycelium crypto tokens. These crypto tokens are like any other cryptocurrency, built using Colu. They act as shares in the company and it can be sold or transferred to others. Mycelium token holders will also be able to exchange their tokens over the platform, provided all the pre-set conditions for redemption/buy-back is met.

The company will be utilizing the funds raised from the crowd sale to accelerate the development of the platform. Some of the much-awaited features on Mycelium wallet includes – support for fiat accounts, remittance services over select remittance channels, crypto virtual and physical debit cards, personal finance manager, investment platform, escrow accounts and crypto asset creation and exchange functions.

While the crowd sale is around the corner, those in tested in participating in the crowd sale are advised to read the terms and conditions thoroughly before investing.

Ref: Reddit | Mycelium PR 
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