Mycelium gives users ultimate flexibility with how they would like to secure their Bitcoin. Whether it’s the standard HD (Hierarchically
Deterministic) accounts, interacting with hardware wallet accounts, access to custodial services, or paper wallet accounts, Mycelium can meet
your needs. The following are steps to create a paper wallet with Mycelium:
- Open Mycelium wallet and navigate to the Accounts tab
- Tap on the Key symbol in the upper left-hand corner to create a new account
- Tap on the Advanced button and then select Generate BTC SA (single address) account
- You are now presented with a new public address.You can use the one prompted, or shuffle to create a new public address
- Give the new account a label, or just leave the label as a date
- Select create a backup. You now are taken to the Encrypted PDF backup screen. Print the PDF
- Now, in the boxes on the printed page, enter the random password that is provided in Mycelium.
You have now created a paper Bitcoin wallet that can only be restored in Mycelium or another wallet that incorporates the random password
functionality. This can be used as another mechanism to protect your BTC. Just remember, reusing addresses reduces your anonymity, so it is
best to just load the address a single time for long-term HODLing.