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I have already written about the Mycelium wallet here but what if you want a wallet that can hold several coins apart from Bitcoin?
The Coinomi Wallet is currently available for Android users only. However, there are confirmed reports that an iOS version will be released soon. Coinomi is a multi-currency wallet. What that means is that it supports multiple cryptocurrencies, totaling to over Here are some of the Coinomi Cryptocurrency Wallet features: Programmers and coders might already be excited by this feature.
As for the rest of us, when we say an application is open-source, it means that anyone with programming or coding knowledge can develop or adjust it further. In other words, you can get the programming combination and improve the application. Security should always top the list of features anytime you are choosing a currency wallet.
The developers have added strong public cryptography features to ensure the keys never leave your device. There is a second-layer security feature which is the encryption of the entire wallet with a master password to ensure that once you lock it, no one can send coins without entering the password.
However, unlike Mycelium, which prompts you to enter the password the minute you tap the app, Coinomi is mostly open. In my opinion, it would add more privacy if someone had to enter a password on tapping the app. As it stands now, if someone took my phone and tapped on the app, my investment amount would be right there for them to see. Moving on swiflty though, immediately you sign up for Coinomi services, you will be provided with a very strong phrase to act as wallet backup.
As such, once you get the phrase, write it down carefully and store it very securely. The complexity of the phrase is so high that it would take hackers years to recreate it.
However, for you, the rightful owner, you just need to key it into your new phone and all your cryptocurrency re-appear! Should you buy bitcoin in ? How to buy bitcoin in Kenya. What is bitcoin anyway? ShapeShift and Changelly are two of the most popular instant exchanges where you can exchange your Bitcoin for Altcoin or vice versa. These two exchanges have been integrated into Coinomi.
If you have some bitcoin and wanted to convert them into Ethereum another popular coin you can easily do it inside the Coinomi wallet. Recommended cryptocurrency books from Amazon: The main face displays all the supported crypto. You also get to see your balances displayed in both normal currency as well as crypto. Talking of normal currency, you have the option of setting the currency into USD, Pound, as well as other currencies.
You can view your entire transaction history, including sending and receiving. Usability is intuitive and streamlined. Customer support is key when it comes to crypto wallets and in every other industry as well, right? For example, I once contacted them and it took them two days to get back. Luckily, it was a minor issue. Imagine if it had been a critical matter. However, this is not specific to Coinomi.
As I said before, the Coinomi wallet supports a wide range of coins. I also love the fact that one can see the live market rate of all the altcoins.
This blog post is not a recommendation to invest in cryptocurrencies. C ryptocurrencies are highly volatile and involve significant risks. Invest only what you can afford to lose.
Your email address will not be published. Notify me of follow-up comments by email. Notify me of new posts by email. Top Of The Range Security Security should always top the list of features anytime you are choosing a currency wallet. One-time Backup Moving on swiflty though, immediately you sign up for Coinomi services, you will be provided with a very strong phrase to act as wallet backup.
Related Articles Should you buy bitcoin in ? How to buy bitcoin in Kenya What is bitcoin anyway? The conversion only requires a few taps. Support Customer support is key when it comes to crypto wallets and in every other industry as well, right?
Supported Cryptos As I said before, the Coinomi wallet supports a wide range of coins. Installing The Coinomi Wallet Getting started is very easy: Download the Coinomi app from Google play and install it. You must write down. Print it if you can and keep it somewhere safe. If it gets accepted, please keep that piece of paper very safe.
It should not be less than 10 characters. Create a strong password that includes numbers, letters and symbols. Next, choose the coins you want to have in your wallet. Comments Can i do the cryptocurrency business through my android smart phone, what are the procedures? Comments are welcomed and encouraged on this blog, But they should be relevant to the post topic and useful to the readers. Cancel reply Your email address will not be published.
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