Cryptos Land: Coinomi Wallet Review

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Sunday, 24 September 2017

Coinomi Wallet Review

Coinomi is an Android based wallet that supports multiple currencies. You can view more about Coinomi wallet specifications here.

An Unbiased Coinomi Wallet Review

I have used Coinomi wallet and talked to other people using it and the answer to the question by users were much diversified. Some encourage to use it after the latest updates but other advised to avoid it.

Moving on, Coinomi wallet is one of the unique wallet on Android because of supporting the storage of popular ERC 20 tokens. Besides it also allows user to store several top Altcoins besides Bitcoins. Coinomi becomes more useful when you want to exchange your coin because it is integrated with Shapeshift and Changelly. Users can also do normal trading between Bitcoins and Altcoins using this feature. However there are some problems regarding the wallet.

Sometime while exchanging the coins, your coins can get stucked in exchange after you have made payment for them and Coinomi can not refund them because the exchange is not own by them but by third parties. This leads users into frustration and to contact support. But here comes more stress for Coinomi users. The support staff of Coinomi users hardly replies to E-mail sometimes you can't even get a reply for weeks.

Also See : Coinomi Multi Currency Wallet

Even though Coinomi provides a way to store popular ERC20 token on your Android it still lacks supporting popular Altcoins such as IOTA, Siacoin, Ripple and others. However Coinomi is an amazing wallet because of its active development team as it seeks to integrate more new Altcoins.

Coinomi is also helpful to help you analyse the total worth of your Cryptos. On the home page you can see your total holdings in Crypto currencies. Another edge for Coinomi wallet is being the only wallet for some cryptos such as Parkbyte, Reddcoin, Asiacoin, etc.

Even though having this edge some users are reported to face problems while sending their coins as sometimes Coinomi wallet is faced with downtime or blockchain connection might break leading users in frustration. Even though this is a rare case but it can happen with popular Altcoins such as DASH and Litecoin as well.

However, the best part of this wallet is getting your own private keys. This works as a charm since only few third party wallets provide this feature. You can have your own private key for any wallet here and export them. Having own private keys means that your funds will be in your control all the time.

I have tried my best to explain you all the features regarding Coinomi  wallet and I recommend it as a fine third party wallet equipped with extra ordinary features. However, it is still advised not put a lot of funds in any third party wallet.

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