When it comes to mobile phone crypto wallet, the Coinomi wallet is always mentioned – one of the crypto repositories developed for Android and more recently for iOS. Despite the frequent references and relatively long existence of this wallet it is hard to say that it has a lot of users. Are there any objective reasons for that? We will describe in this article!
Coinomi wallet for cryptocurrency: the history of creation
Coinomi’s crypto wallet was created in 2015 by two programmers of Greek origin, Theodorus Messinis and John Zegutanis. Messinis had previously specialized in mobile applications, and Zegutanis participated in the development of both mobile applications and PC programs, responsible mainly for product safety.
Multicurrency mobile crypto wallets in 2015 were small quantity and those that had several levels of protection even less. Against this background, the project of the Greeks seemed promising.
However, the founders almost did not bother with advertising, because of what potential users did not immediately learn about the wallet and in fact the product spun itself out.
The popularity gained to the wallet has ensured multicurrency of it. Coinomi supported several dozen of cryptocurrencies in the first months of its existence and over the following years, developers gradually added new ones.
Among other things, Coinomi supports several little-known forks of leading cryptocurrencies (for example, Bitcoin forks – Bitcoin Atom or Bitcoin Private) and allows owners of “parental” currencies to receive coins of these forks into Coinomi wallets for free.
Strangely enough, the wallet still does not support Ripple and Monero, but, judging from the statements on Twitter of the project CEO George Kimionis, the company is working on the introduction of both cryptocurrencies in the list of supported.
Perhaps such a list of currencies would provide Coinomi much more popularity if the wallet was available not only on mobile phones. However, this side of the work developers are doing slowly.
Until the beginning of 2018, Coinomi was not supported even on iPhones – only on Android devices, although the iOS version was announced in the spring of 2017. The developers promised, in the summer, that sooner or later the desktop version will appear, but so far no movement in this direction has been observed.
Among the main features Coinomi has a frequent addition to multicurrency – the ability to exchange supported cryptocurrencies inside the wallet. Unlike many other wallets, Coinomi for this purpose has integrated not only the popular ShapeShift exchanger, but also a similar service Changelly.
How to create a Coinomi cryptocurrency wallet?
The CEO of the project on his Twitter notes the regular appearance of supposedly desktop versions of Coinomi and states that none of them is officially supported. Often, PC cryptocurrency programs using the name Coinomi are fraudulent.
After performing the above actions, you can start using the wallet – transfer selected currencies to generated addresses, send currencies that have been transferred to these addresses to other users, exchange currencies among themselves in the internal exchanger or simply store them in the wallet.
Should I use a Coinomi wallet for cryptocurrency?
In fairness, the hype listed deficiencies do not cause. This suggests that unpleasant incidents occur rarely, given the number of users of the wallet and the number of complaints (thousands of users of complaints – a pair of three dozen).
Perhaps the complaints are a consequence of the wrong actions of the users themselves. For example, one of the monetary losses in Coinomi was resolved in an amusing way. The user did not know that the funds had returned to the new, automatically created address, and not to the old one, from which he tried to send them. Perhaps some complaints have a real basis.
The silence of technical support in wallets is almost always an alarming bell, but in this case it may be due to the small number of teams, the employment of specialists in other projects (and they are really busy in other projects) and the reluctance to explain to the next newcomer that he did not go there and did not transfer money , as a result of which the transaction is frozen for an unclear term.
Compared to other wallets, Coinomi does not seem to be a highly reliable wallet or a scam.
At the same time, there are purses recognized by the crypto community as reliable, and Coinomi is significantly inferior to them. However, few of the reliable wallets offer such a variety of cryptocurrencies on mobile platforms that, in view of the prevalence of both phones and cryptocurrencies, returns users to Coinomi.
Perhaps a good way out is to keep a small amount of money in Coinomi for everyday payments. Considering the fact that Coinomi is a mobile phone application and a mobile phone itself is not a very reliable device for storing money, this solution makes more sense.