For those who have traded in the Crypto field, the name Cryptocurrency Wallet is no stranger. However, with the development and emergence of many different types of wallets, scams, scams, and hackers on electronic wallets occur quite frequently. So where is the safest place for you to store your assets? Understanding this psychology, today I will introduce you to one of the safe, reputable, and secure customer information wallets. That is Coinomi Wallet.
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What is Coinomi Wallet?
Coinomi Wallet was launched and put into operation in June 2014. With such an early formation and development process, Coinomi has become a cryptocurrency wallet used by many users worldwide.
Coinomi Wallet not only helps users store and retain various coins, tokens, .. but also provides additional services for exchanging different coins through features like Changelly and Shapeshift.
Coinomi Wallet always prides itself as one of the digital wallets rated quite positively by users due to the diversity in digital currencies. Coinomi provides storage services for nearly 2000 types of Crypto assets, 125 Blockchain, and thousands of different coins and tokens. Among which, some prominent coins are widely used like: Bitcoin (BTC), Ethereum (ETH), …
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Should you use Coinomi Wallet?
The first criterion for users to choose a digital wallet is the launch time and market experience. Since 2014 until now, more than 5 years of operation, Coinomi has not received any negative reviews from the market and has never experienced any hacker-caused incidents.
The high security and safety of Coinomi are thanks to the dedication and high expertise of the Coinomi platform design research team. They used algorithms and encryption with extremely high security. At the same time, they upgraded technical features with user transaction accounts to avoid cases of customer information theft and scams. The system also offers some features to help users increase the protection of their accounts such as:
- HD Wallet: This feature helps users create a private key code from a main password. This key helps increase security for the account. It also helps create a new wallet address after each transaction.
- IP Anonymity: With IP anonymity, the system helps you secure your IP address. These IPs are server information accessed by users for transactions. Hiding the IP helps users avoid issues related to customer information theft.
- Additionally, there are features that provide ready-made source codes to help users check applications, utilities, and Coinomi software to avoid scams.
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Steps to use Coinomi Wallet
Step 1: The first step to using a wallet is to download the wallet via this link: https://www.coinomi.com/en/downloads/
- Here, users are guided to download the wallet version compatible with Windows, IOS, Android, etc. Users of whichever OS should select the download section accordingly!
Step 2: After completing the installation step, the next step is to create a new virtual wallet (Create New Wallet).
- In this step, users need to pay attention to the 24-character key code provided by the system. This code is used to handle necessary situations such as losing the account, losing passwords,.. And during account creation, the system will also require you to re-enter these characters. Therefore, after being issued the key code, users need to store it offline securely in case of unexpected situations.
Step 3: After completing the above two steps, users can start performing wallet functions such as depositing, withdrawing, transferring, etc.
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Transaction Fees on Coinomi Wallet
Deposit and withdrawal transaction fees on the platform are completely free. This is considered a plus for the wallet because currently, to ensure platform efficiency, providers always charge a small fee for deposit and withdrawal transactions.
Although customers do not pay any fees for deposits and withdrawals, users still have to pay a small fee called Blockchain access fee for a certain Crypto asset.
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Evaluate the pros and cons of Coinomi Wallet
With the above information, I will summarize the advantages and disadvantages of the platform for easy comparison with other e-wallets!
Advantages:
- Coinomi Wallet is always preferred by users due to its security, safety, and credibility with users.
- The interface of the system is also quite simple and user-friendly. Whether you are old or new, you can easily operate transaction commands on the wallet.
- The setup steps on the user’s device are quite simple. Just a few simple operations, users immediately own a Coinomi Wallet account.
- Security codes, privacy, and customer information are kept confidential with private keys. Always guard against hacking attacks.
- Transaction fees for deposits and withdrawals are completely free.
- Supports transactions of various assets, facilitating users to use.
- Besides storing and safeguarding assets, Coinomi also provides exchange services between coins/tokens with no additional third-party fees.
- Supports many languages such as English, Chinese, Russian.
Disadvantages:
- Although supporting many languages, Vietnamese has not yet been integrated into the system. Therefore, Vietnamese users may encounter some difficulties when using the platform.
- Besides free deposit and withdrawal transactions, the wallet still lacks many utilities and features that attract users like other wallets.
- Another downside is that Coinomi Wallet still does not have the function of direct coin exchange or purchase with real money.
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Conclusion
This article has summarized information related to Coinomi Wallet for users. Hope these shares will be helpful for users in deciding whether or not to use this type of wallet!
See more: MyEtherWallet Wallet
