Review on Coinomi by Inioluwa Okedeji
Coinomi: A Multi-Asset Cryptocurrency Storage Wallet
Coinomi wallet is a cryptocurrency wallet. Like all other cryptocurrency wallets, it is used for the storage of cryptocurrency assets.
Coinomi wallet was established in 2014, with the security of cryptocurrency assets has its main purpose.
Unlike all other recently developed and launched wallets, Coinomi is the oldest wallet that supports multiple cryptocurrencies around. One can say it is also the reason it provides software for different types of operating systems.
There has never been any record of Coinomi wallet been hacked, which has a lot to say about the security of the wallet
Another feature of the wallet the inbuilt cryptocurrency exchange that it allows users to trade cryptocurrencies.
Coinomi wallet supports a large number of fiat currencies, making it readily available and accessible in major countries of the world.
The wallet allows users the opportunity to stake their digital currencies and be rewarded for it
The wallet can be backed up with its security keys, which means even if the wallet is lost or deleted it can be recovered with the security keys. There's a shortcoming though if the security keys are lost the assets are lost forever and can never be recovered.
Pros
- Coinomi supports more than 125 blockchain networks.
- Transactions are completed swiftly and user interface is very easy.
- It supports ERC 20 tokens.
Cons
- Transaction fees are considerably high
- Loss of assets if security keys are lost, in any case should the wallet be lost.
