quick knowledge you must know about Mycelium single address account

Updated on August 17, 2020 in Mycelium
4 on August 14, 2020

Hello mates, Its a good thing to know about the Mycelium wallet and their features. They is a feature on Mycelium, that is their “single address account.” This account can be vulnerable in some ways.

What is this feature about? It allows a user to delete private keys from their device and import it back when they need their funds.

It is considered as the safest way of saving huge amount of cryptocurrencies, because attacker won’t be able to get your private keys.

Why it is not safe 100%? Many times it has been verified by tech geeks that a deleted file or data on a device doesn’t leave the device, unless the file is overwritten.

So with such complaints, a deleted private key can be recovered by someone else that got access to your phone. With good recovery apps your deleted private key can be seen by another person.

This is quite vulnerable, and can cause the loss of your funds but not completely vulnerable because of the skill, device, app, etc required to carry out this tasks.

But it’s very important to know about this and resist using Mycelium “Single address account”

Cheers.

 
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0 on August 17, 2020

Thank you so much. This is a great insight for mycelium users and it’s very important to be cautious when using the single address account. Things can go wrong if you don’t see the aspect OP’s analysis.

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0 on August 17, 2020

It’s very nice to know about this. But like you said, the process required can show that this problems can rarely occur. Kudos, good to know, some loopholes in a certain wallet can cause the loss of an entire savings.

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0 on August 17, 2020

Good found out. I made use of mycelium single address account long ago and it was like that, because they was nothing like softwares that recover deleted files that have not been overwritten. I think anybody that make use of this method of savings, should be careful who holds their device.

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0 on August 17, 2020

Mycelium wallet needs to look into this facts. An individual that patronize this type of account can also be at risk.

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