Coinomi wallet review

Coinomi
Coinomi
Very basic Ease of use,  High Privacy,  User Private Keys Stored

Coinomi is a popular free mobile wallet developed by an UK-based company that works only with Android devices. This wallet platform is useful for users that trade a lot of coins, altcoins or tokens, since it offers support for nearly 100 cryptocurrencies. Currently there isn't an iOS application available, but Coinomi claims it will be available for download in App Store sometime soon.

Compared to other wallet platforms, Coinomi offers great support for altcoins and tokens, besides the most popular cryptocurrencies like Bitcoin or Ethereum they provide support for nearly 100 coins and over 200 ether tokens. Through their integration with Changelly and Shapeshift they also allow the possibility to trade. All this with total anonymity.

Company / organization behind the wallets

Coinomi Ltd is a small company established in 2014 and headquartered in London, UK. Coinomi was founded by George Kimionis (angel.co/kimionis) and John L. Jegutanis, a graduate of Stanford University. Coinomi is a very popular app that has over 100 000 mobile installs most of its Google Play reviews are positive.

Language Support

  • Chinese
  • English
  • Russian

Supported Systems

  • Android

Partners and integrated software

  • ShapeShift
  • changelly

Given the fact that the user controls the private key storage and there is an AES-encrypted master key for private key regeneration, Coinomi stands out as being a high-security wallet. Although it doesn't offer a 2-factor authentication method, Coinomi offers enhanced privacy and anonymity.

Summary:

Security
Low
2 Factor Authentication
No
Multi-Signature
No
Private Keys Stored On
User
Storage Type
Hot storage
Transactions Validation
SPV or Lightweight client
Hierarchical Deterministic
No

What happens in the event of a disaster/theft/loss?

The user has a 'root key', 'recovery phrase' or 'word seed' that can be used to regenerate private keys.

Coinomi is quite popular among cryptocurrency enthusiast and foremost for users that trade ICO tokens, since it provides support for many of them. Coinomi is very simple and intuitive to use for sending and receiving transactions. The wallet doesn't require an install and set-up, it works just like downloading any wallet application from Google Play.

Summary:

Coinomi offers good support and functionalities and is very popular. Due to its extensive support for over 80 Cryptocurrencies, tokens, and altcoins it is popular with enthusiasts. It has a strong security record with no major issues reported. Coinomi stands out as a top contender for the mobile Android users.

Ease of use
Very basic
Suitable For
Account activation process
Simple
Transaction fees
Dynamic Transaction fees
Setup fee
$0.00

Functionality:

  • Exchange coins crypto to crypto

Compared to other wallet platforms, Coinomi offers great support for altcoins and tokens, besides the most popular cryptocurrencies like Bitcoin or Ethereum they provide support for nearly 100 coins and over 200 ether tokens. Through their integration with Changelly and Shapeshift they also allow the possibility to trade. All this with total anonymity.

The wallet platform has developed a partnership with a 3rd party and integrated the 3rd party services into their software

Help and
support:

  • FAQ section
  • Email
  • HelpDesk Ticket Support

Most common
customer complaint:

none