#Awallet security review android#
#Awallet security review software#
#Awallet security review code#
#Awallet security review Offline#

#Awallet security review android#

For mobile devices, you can download the Coinomi app from the App Store or the Google Play Store (for iPhone and Android devices, respectively), create an account and then log in to the app.Īfter installing your wallet, you’ll need to back it up by looking for your specific recovery phrase, also called a seed phrase.

#Awallet security review software#

To set up this wallet on a desktop device, you’ll need to access the Coinomi website, download the software for your personal operating system (Windows, MacOS or Linux) and log in after creating an account. Coinomi Crypto Wallet offeringsĬoinomi offers a free multi-chain wallet for both mobile and desktop.

#Awallet security review code#

A source code that isn’t open to the public may also contain malware, bugs or code that can benefit third parties. While being open source reveals the software’s code to cybercriminals and competitors, allowing the public to see and review it can instill more confidence in potential users. Some users have voiced concern over this decision and its resulting lack of transparency in online forums and reviews. In 2020, the wallet publically tweeted that it moved to closed-source code because scammers were viewing the code and replicating it as malicious clones of Coinomi wallets. Lack of transparencyĬoinomi used to be an open-source wallet, but that is currently not the case.

#Awallet security review Offline#

Because private keys are the primary method of accessing your crypto tokens and assets, storing them in an offline location constitutes a major security advantage. Although the wallet has a multilayered security system (passwords, biometric locks, etc.), cold storage remains the safest method to store your crypto assets and tokens.Ĭold storage refers to specialized devices or USB flash drives that keep your private keys offline. No cold storage optionĬoinomi doesn’t offer an option to keep your cryptocurrency in cold storage, which may be limiting to some users. The two most relevant drawbacks are a lack of cold storage options and little transparency regarding the source code. Cons explainedĬoinomi has some downsides, as well.

Coinomi also makes it possible for you to manually add any other tokens to your wallet that aren’t currently on Coiniomi’s list of supported tokens. This is a number that no other non-custodial crypto wallet has matched to date. Hosts a variety of blockchains and cryptocurrenciesĬoinomi crypto wallet supports over 125 blockchains, which allows you to store and exchange over 1,770 other tokens, including major cryptocurrencies like Bitcoin and Ethereum. This means that hackers cannot access your key via an online attack because you aren't storing your private keys on a platform that is continuously connected to the internet. While Coinomi is a hot wallet, which means it's always online, you store your private key locally on your device.

The Coinomi security system supports a password, biometric lock on mobile devices, a recovery phrase of 12, 15, 18, 21 or 24 words and a private key to protect your funds. Users can also contact Coinomi by email at High level of securityĬoinomi states on its website that no Coinomi wallet has ever been hacked or compromised since the company was established in 2014. It also has a ticketing system by which you can speak with representatives through a live chat. It also has a YouTube channel with videos demonstrating various actions users may have trouble with, from restoring wallets on a new device to manually adding an ERC20 token, a type of digital asset created using the Ethereum blockchain. For example, the wallet provides a support page with articles and solutions in multiple languages. 24/7 customer supportĬoinomi offers multiple customer support options to assist both new and experienced crypto traders. Its standout features include round-the-clock customer support, its private keys storage and the wide variety of cryptocurrencies it can host. There are many advantages to using Coinomi to store your cryptocurrency.