Many crypto enthusiasts choose Coinomi wallet apps because it is secured compared to nearest other app wallets.
Aside from that, you can be used 3 types of wallet addresses in a single wallet. Legacy, Compatibility and the Default.
I think you are referring to this article I had found.
https://insidebitcoins.com/bitcoin-wallets/coinomiBut the article says,
Coinomi has a strong reputation for privacy and security. However, after our thorough Coinomi review, we would not recommend it as the best crypto wallet in the market. Unlike the Coinomi wallet, the IQ Option wallet offers incomparable security because it is one of the few fully compliant wallets, adhering to FCA and CySEC regulations.
There is a comparison to other wallets like Coinbase, Cryptonator, and MyEtherWallet app.
And the
Pros and
Cons as well of the Coinomi wallet.
Thank you for your views, I appreciate them.
I have used the Coinomi wallet both PC and mobile versions for over a year now with no challenge (of course with small amounts) I really like the mobile version more because it's a little more private because someone has to first enter the pin or unlock it using the mobile finger print scanner unlike the PC version where anybody can be able to see your portfolio or wallet balances when they click on the app.
It is good to read reviews backing up their claim that they have never ever been hacked and it is good to see another post stating they use it for small transactions.
What are the pros and cons of choosing between Coinomi Wallet and its nearest competitors?
the pros are:
it is convenient to use and supports a good number of coins that most people want to have the wallet for. and it is easy to use.
the cons are:
it is closed source! even though they have some arbitrary code on GitHub, it does not match what they release and the code is rarely updated! which is another red flag.
it has done certain shady things in the past such as sending your seed to a server.
Yes I noticed the closed source fact from posts in this thread. I always thought it was open source and the fact it is not means it is a big consideration.
I have used the mobile version in the past for small amounts only. Didnt have any issues with it. I wouldn't use it as my main storage, I have other solutions for that.
It is easy to use, supports a wide variety of coins and fast exchanging between coins with Shapeshift and Changelly. If I remember correctly there was even an option to buy crypto with a credit card or purchase gift cards with Coinomi.
What are your views about comparing it with other like-for wallets?