Home Reviews Coinomi Wallet - What is it and how does it work?

Coinomi Wallet – What is it and how does it work?

When choosing a wallet to store our cryptocurrencies, it is essential to choose the one that best suits our needs. The ease of use, being able to use it on different devices, its security and the number of cryptocurrencies supported are some of the features to analyze before choosing our wallet. In this review we are going to talk about Coinomi, a multi-crypto wallet that millions of users trust.

Why choose Coinomi?

This cryptocurrency wallet has many favorable points when it comes to choosing a place to store our assets. Starting with the amount of cryptocurrencies it supports, it offers native support to  more than 125 blockchains and thousands of tokens.

As they say on their website, another very important point to highlight is:

“Founded in 2014, Coinomi is the oldest multi-asset wallet available, with millions of active users. Most importantly, no Coinomi wallet has been hacked or compromised to date.”

In addition, this multi-chain wallet offers direct exchange of cryptocurrencies from the wallet through its partnership with ShapeShift, Changelly, Totle Swap, BinanceDEX and more!.

Coinomi offers a cross-platform service, compatible with both Android and iOS mobile phones, and for Windows, Mac OS and Linux desktops.

Additionally the wallets of the different platforms are fully synchronized, so you can see your wallet balances and perform operations from different devices. You must use the same recovery phrase on all platforms for them to sync

coinomi

Other features of Coinomi

Cold Stake: Cryptocurrencies compatible with Cold Stake will get rewards even offline.
Native SegWit: Fast confirmations and lower fees.
Privacy and anonymity: No association of IPs and no transaction tracking. With other privacy features too!
24/7 support.
Multilanguage: Coinomi has translations into English, Chinese, Spanish, French, German, Russian, and many others. With many more being added regularly through the help of users.

Download and Install Coinomi wallet

To download the Coinomi Wallet follow these steps:

• Click on download button (upper right part of the window), this link will take you to a window where you can choose which version you want.

Currently there are versions for both Android and iOS for mobile and for Windows, MacOs and Linux for Desktop.

In this tutorial we will download and install the version of Coinomi for Windows.

download coinomi wallet

• Click on the download button of the desired platform and run the downloaded file. Once the legal bases of the program have been accepted, you can choose where you want to install the wallet.

• Choose if you want a desktop icon and finish the installation.

Create new wallet

When you run the wallet for the first time, it will give you 2 options, one to create a new wallet (Create a New Wallet) and another to restore a previously created wallet (Restore Wallet).

In our case we will choose the first option.

create-new-wallet

Next, the wallet will show the Wallet recovery phrase which we must keep in a safe place as it will be necessary when restoring the wallet. Save it OFFLINE and do it NOW!

wallet-pharse-recovery

Before continuing with the creation of the wallet, a verification of the recovery phrase will be requested to verify that it has been saved correctly.

Once you confirm your phrase correctly, it will be necessary to enter a password for the wallet.

It is advisable to use a password which is a mix of uppercase, lowercase, numbers and symbols. Your password must be at least 10characters long.

If you decide to write your password down, please DO NOT keep it with your device where Coinomi is installed.

coinomi wallet password

In the next step you can select the cryptocurrencies that you want to see on your wallet, do not worry you can enter more later.

Continue the installation accepting the legal bases of the program.

Now, your selected wallets will be created and you are ready to send, receive and exchange cryptocurrencies.

coinomi-wallet

Coinomi works to make an application that, in addition to being easy to understand, is easy to use and covers the needs of both expert and new users.

Links of interest

Web: https://www.coinomi.com/
Reddit: https://www.reddit.com/r/COINOMI/
Facebook: https://www.facebook.com/coinomi/
Twitter: https://twitter.com/coinomiwallet
Telegram: https://t.me/coinomi_official

Conclusion

Coinomi offers a fully reliable cryptocurrency wallet, with a large number of cryptocurrencies and all this added to the veterancy of a company that has been in the cryptocurrency sector since 2014.

In addition, the wallet offers high level security, stating on its website:

“Founded back in 2014, Coinomi is the oldest multi-asset wallet available, with millions of active users. Most importantly, no Coinomi wallet has ever been hacked or otherwise compromised to date.”

Alfonso M.E.
Alfonso M.E.
Crypto enthusiast since 2015, lover of blockchain technology and everything around it. He joined the Crypto Economy team in 2018 as a content editor specialized in SEO. He also responsible for the Social Networks of the platform. Crypto entusiasta desde 2015, amante de la tecnología blockchain y todo lo que le rodea. Entró en el equipo de Crypto Economy en 2018 como redactor de contenido especializado en SEO. También se encarga de las Redes Sociales de la plataforma.
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