• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Breaking News: This Bankrupt Crypto Firm Returns 27,000 Mining Rigs To Pay Off Loan
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Bitcoinist.com
No Result
View All Result
Breaking News: This Bankrupt Crypto Firm Returns 27,000 Mining Rigs To Pay Off Loan
Advertisement

Bitcoin Paper Wallet: Mycelium Entropy Indiegogo Campaign

Adam James by Adam James
9 years ago
in Bitcoin, Bitcoin Businesses, News, Start-Ups
0
Advertisement

Today, Mycelium has announced the launch of an Indiegogo project for its Mycelium Entropy device. Mycelium Entropy is the newest addition to the Mycelium Bitcoin Wallet ecosystem, first announced at the Bitcoin2014 Conference in Amsterdam, and demonstrated at the Central Europe Bitcoin Expo in Viena, as well as the recent Bitcoin in the Beltway conference in Washington DC.

[youtube id=”cuUCjeABxOM” mode=”normal” align=”center”]

Mycelium Entropy is a small, simple USB device that is designed specifically to generate paper wallets. All you do is plug it into a printer’s USB port, and the device uses specialized hardware to create a random number with 256-bits of entropy. It then uses that number to generate a paper wallet with public and private keys, which your printer sees as a JPG photo that it can print directly from the device.

[quote]According to the Mycelium team, this is currently the most secure way to create paper wallets.[/quote]

Why:

  • The keys are never exposed to the web
  • The wallet uses true high level entropy
  • The wallets only exist on paper.
For extra security, Mycelium Entropy can also create M-of-N split keys, where the private key is split up in such a way that you need two out of three parts to spend from an address. In this way, if one of your paper backups is lost or stolen, the thief still can’t steal your coins, and you can still access them using the remaining 2 paper backups. Since the Mycelium Bitcoin Wallet has full support for spending from paper wallets, using Mycelium Entropy in combination with the Mycelium Bitcoin Wallet can be a very safe and easy way to store and protect your savings.

Think of it as being able to create your own bank deposit certificates, while keeping only a bit of spending cash on your Android wallet.

[quote]With this combination, the idea of “Be Your Own Bank” comes much closer to reality, and gets much easier as well.[/quote]

At this stage, the devices are fully functional, and need just a few minor software tweaks, such as fixing issues of incompatibility between US and European sized paper standards causing the headings on the paper wallet image to be cut off. Mostly minor things that will be resolved by the time we are ready to launch.

Screen Shot 2014-06-26 at 5.05.13 AM
Although the device hardware is open source, the Mycelium team needs to raise money to be able to order them in sufficient enough quantities to make them cheaper for everyone, since mass production is much cheaper than ordering them one at a time. Also, about $1,500 of the money raised will go towards testing and compliance for these types of devices, like CE marks, FCC part 15 approvals, etc. While the devices are being developed, we will spend time testing printers and putting together a list of recommended printers to use with these, just to make sure that yours can handle this, or if it can’t, to help you find the cheapest (and most secure) option you can get.

Below is Mycelium Entropy Live Demo

[youtube id=”2NxrHSKOBjI” mode=”normal” align=”center”]
You can read many more details, and see examples, on Mycelium’s Indiegogo page.
Check out Mycelium; available for download for android devices here.
Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Adam James

Adam James

Adam James lives in Budapest and is the Managing Editor of Bitcoinist.com. He digs Gibson guitars that sound like Tyrannosauruses, Romantic & Victorian poetry, Franco-era Spanish films, LPs, Chelsea FC, Bob Dylan, Pilot G2 10s, black coffee, video games, and cryptocurrency.

Related Posts

New record: 49% of Bitcoin Supply Has Not Changed Hands in 2 Years

New Record: Half Of Bitcoin Supply Hasn’t Changed Hands In 2 Years

1 hour ago
Bitcoin Derivatives Markets Volumes Show Bullish Trend After 2022 Downturn

Bitcoin Derivatives Market Volumes Show Bullish Trend After 2022 Downturn

1 day ago
Bitcoin

Sri Lanka Central Bank Says Bitcoin Cannot Solve Economic Crisis

1 day ago
tulip mania bitcoin

Celebrating The Tulip Mania Anniversary With Bitcoin & Crypto

2 days ago
Bitcoin Long-Term Holders Now Hold 78% Of Supply, Highest Level Ever

Bitcoin Long-Term Holders Now Hold 78% Of Supply, Highest Level Ever

2 days ago
Bitcoin

Why Bitcoin Is Among ‘Hottest Subjects’ On Earth, According To ‘Rich Dad’ R. Kiyosaki

2 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • Crypto Is Here to Stay. Here’s Why You Should Invest...

    5 hours ago
  • Dogecoin (DOGE) and Shiba Inu (SHIB) Bounce While Snowfall...

    5 hours ago
  • Avalanche (AVAX), Gala (GALA), and Orbeon Protocol (ORBN)...

    8 hours ago
  • As Bitcoin And Filecoin Continue To Rise, The Most...

    1 day ago
  • Which Cryptocurrencies You Should Buy – Big Eyes...

    1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.