Can Coinomi Be Trusted And What Coins Does It Support
Coinomi is a secure, lightweight, universal, open-source, HD wallet. It supports many altcoins apart from Bitcoin so it is easy for you to keep all of your funds in a single wallet. Your private keys will never leave your device and you’ll need to back it up only once.
Coinomi is a wonderful multi crypto online wallet to keep all of your coins safe at a single place. However, your private keys are safe on your device. This wallet is only available at Android devices at the moment. However, it is expected that the team will launch an IOS version of the application soon. This wallet supports 78 coins at the moment.
In this Coinomi review we have explained the few important things you need to consider:
Your private keys will remains safe in your device. This wallet incorporates strong public cryptography and best practices of the industry. The company ensures that your money will remain totally safe by making sure that you have the ultimate control over your wallet. Coinomi Wallet is secure because it is encrypted with a master password which makes it very resistant against the malicious software and hackers attack.
Coinomi offers you privacy in such a way that it doesn’t perform any type of association between your real world identity and your wallet identity. However, there is no association with your funds or even the way you get or spend them. There will be no personal details that will ever go through Coinomi spending your funds also remains totally anonymous as Coinomi doesn’t show your IP address from the rest of the world while pushing your transactions to the blockchain.
One Time Backup
Coinomi offers one time backup which means all of your coins can be accessed with one Hierarchical Deterministic Wallet (BIP44), so there is no need to backup your wallet regularly for every single coin. All you really need to do is to keep a simple phrase in a safe place just once and never lose your funds ever again.
You can make use of your altcoins to pay directly to bitcoin addresses and many more. There are no intermediate stages, no sign up will be required, and you can spend your any-coins to make payments from any-coin with the help of a single click. When it comes to heterogeneous payments and cross-chain transactions, Coinomi Wallet is the fastest, safest and most convenient option to consider.
Does It Support Callisto?
There are many people who are willing to know about Coinomi Callisto. Well, it is the official that Coinomi announced to support Callisto. It was announced on 10th Feb 2018 that Coinomi has started supporting the Callisto. However, you can also receive free $CLO buy you need to ensure that you keep $ETC inside your wallet at block 55,00,000. Every user who held Ethereum Classic in wallet at block of 55,00,000 will get Callisto in a ratio of 1:1.
Does It Support Bitcoin Gold?
When it comes to Bitcoin Gold, still there are a lot of unknown factors to consider. This fork has been launched a while ago. There are only few main net for people to connect with Coinomi Bitcoin Gold and there is no complete implementation of this currency on several platforms. Coinomi is first one to fully integrate Bitcoin Gold but there are only few people who are using it at the moment.
The users of this wallet won’t have to undertake any special action because this update will automatically roll out. However, it is a wonderful idea to install the latest update of this wallet, though in many cases, this software updates automatically but it depends on your user settings. There will be a BitcoinGold option if you’ll click the top left menu. It is an interesting addition but the usefulness of this action remains a big mystery.
We have analyzed different user ratings and comments to test the authenticity and popularity. We have visited different website to know more about what people think about this wallet. It is one of the most important things to consider before investing your money online. There are many people who are happy with the services, security, back up and many other features of this unique wallet. People are happy with its services. Many people are happy that they have a blessing when it comes to Coinomi wallet but still there are people who are not happy with its services. However, the overall rating shows that It is a trusted and famous platform when it comes to blockchain technology. One of the best thing to know about this wallet is that it supports around 78 coins.
Does It Support Ripple?
There is no doubt that it is one of the best and most famous wallets when it comes to the blockchain industry. You can make use of this wallet to keep all of your coins at a place. It is supporting various coins. However, the best thing about this wallet is that it supports around 78 coins so it is ideal to keep your Bitcoin and all the other altcoins at a place.
It is official that Coinomi Ripple suits Ripple coins and now you can keep your Ripples safe at a single place with its help. Ripple is one of the most famous crypto currencies and it is denoted by “XRP”. However, it is the second highest currency in the market due to market cap. In the past few months, the price of Ripple has gone up by +977% and people who invested in this currency are making a huge amount of profit. Well, there is no doubt that XRP is one of the most decent crypto currencies you can invest in. If you are planning to buy XRP then you must be thinking where to store XRP? If this is your major concern then there is nothing more convenient and secure than this famous Coinomi wallet.
The vision and design driving this wallet is that it makes use of technology and design and creates a wallet for crypto currency that runs smoothly on all machines. However, if a user has a low spec device, this wallet would run without any problem and seamlessly on your machine. The beauty of this wallet is that in order to use it you don’t have to download huge files of Blockchain locally or run a program that will keep on downloading the Blockchain files in the background and will eat up the useful and limited bandwidth as well as device storage space. However, in order to keep it updated with all the new technology new features are added to it constantly with the help of crowd sourcing.
This wallet isn’t designed for a user of a specific region but it is developed for the worldwide users. Therefore, in order to make it more user friendly it is the effort of the Coinomi Wallet team to offer multiple language support. At present, this platform supports few languages English, Russian, and Chinese as well as many other languages. The team of this platform is continuously working on installing more translations into the interface of this wallet. In this way, it will be helpful for a lot more users who are willing use this wallet in their native languages.
What Coins Does Coinomi Support?
Here is a list of all the altcoins that are supported by this wallet:
- Canada eCoin
- Litecoin Test
- Bitcoin Test
- Dogecoin Test
This is the current list of all the coins that are supported by this platform at the time of writing this post. However, this list may get changed or updated at a later time and data so it is recommended for the users to check the list of coins for the official website https://coinomi.com.
Built In Exchange Access
The major concern as a crypto currency user is the need of being able to exchange and trade the crypto coins with other crypt coins and trades them with many other users. For this reason a user needs to access different exchanges and trade the coins over there. However, the use of Coinomi Wallet can easily exchange his/her altcoins from within the wallet. This is due to the their partnership with ShapeShift.
Transparent And Open Source
Anyone can see and examine the code of this platform as it is open source. Therefore as long as Coinomi is downloaded from the official website it will remain free of any hidden code. You won’t have to face any problems regarding malicious software that can damage your computer. However, your crypto currency will remain secure and free from any cyber attacks. There will be no exploits and no small letters that will bring a surprise or scheme that will try to trick the end user in any way. The source code of this platform is available publicly and it can be accessed easily from github site here https://github.com/coinomi/.
Streamlined & User Friendly Experience
The interface of Coinomi is designed in such a way that it is functional and simple for the user to use. It makes use of cutting edge technology to make the experience of a user with this wallet as smooth as possible. It is helpful for the users to enable them to pay with altcoins to pay directly to Bitcoins addresses and many others. However, there are no extra steps and methods are included in this process. The team developed this platform has skipped any unnecessary extra steps. There are no endless signups that are need by the user. This platform follows a one click cross chain payment process.
Before downloading this application from PlayStore, you need to ensure that you have a decent android phone. However, this app isn’t available for Iphone users yet but the team is working to develop a version for Apple users soon. However, this wallet isn’t available for desktop users as well. This platform is for the Android users only.
You can download the app from PlayStore but you’ll need to be very careful because there are many fake apps out there.
You can create your Seed but this isn’t a password. In fact, it is similar to the Electrum wallet. If you’ll accidentally uninstall the app, you can reinstall it with the help of this SEED which is often known as Recovery Phrase. You can note it down on a paper or keep a copy in any safe place. You Seed for Coinomi wallet will be around 18 random words.
Select The Coins You Want To Use With Your Wallet
You can any from Bitcoin and Bitcoin Cash. There is large number of altcoins and tokens available on this wallet. You can choose a coin you prefer to play with.
Coinomi Wallet is all over the internet and social media. You can check social media and excellent FAQs page of this platform if you have any questions. It is really easy to install this application on your phone but you’ll need to ensure that you are downloading the right file.
After installing this application on your phone you can easily make use of your Coinomi Wallet on your android phone. This application offers a ton of great features for the users.
The major purpose of this platform is to provide you a safe and user friendly option to store all of your crypto currency at a single place. It is really easy to use this platform and keep your digital currency safe. We hope after reading this Coinomi Wallet review, you will be able to choose wisely if it is a kind of platform you are looking for. Yes, it can be trusted as it is open source and the platform guarantees that it won’t let you face any cyber attacks.