What is Coinomi Wallet? How to use Coinomi Wallet
- 1. What is Coinomi Wallet?
- 2. Features of Coinomi Wallet
- 3. What are the limitations of Coinomi Wallet?
- 4. Tokens that Coinomi wallet supports
- 5. Information about transaction fees of Coinomi wallet
- 6. Instructions on how to create a Coinomi wallet
- 7. Detailed instructions on how to use the Coinomi wallet
- 7.1 Introducing Coinomi Wallet Features Coinomi
- 7.2 How to add coin
- 7.3 How to add token
- 7.4 How to deposit
- 7.5 How to withdraw token
- 8. Is Coinomi Wallet Safe?
- 8.1 HD wallet
- 8.2 Anonymizing IP
- 8.3 Some source code available
- 9. Some alternatives to the Coinomi wallet
- 9.1 Atomic Wallet
- 9.2 Trust Wallet
- 9.3 Exodus wallet
What is Coinomi Wallet? What are the pros and cons of this product? The following article of BHO Network will provide detailed instructions so that players can easily and quickly manipulate products of the crypto market. Stay tuned for more helpful knowledge!
1. What is Coinomi Wallet?
Coinomi Wallet is a product that can store many different cryptocurrencies in one place, creating favorable conditions for traders. The wallet is developed by the company Coinomi, with offices in Craigmuir Chambers, Road Town, Tortola, VG1110 and the British Virgin Islands.
Coinomi can store multiple cryptocurrencies
2. Features of Coinomi Wallet
Coinomi Wallet is a long-standing digital product with millions of users and has never been compromised. Besides, the product is very popular with users as a free, safe HD wallet for cryptocurrencies. Some outstanding features of the product can be mentioned such as:
- The wallet code is publicly provided, the interface is simple for players to manipulate easily.
- Power consumption is constantly being improved to achieve the lowest figure.
- Coinomi currently supports languages such as English, Spanish, French, German, Chinese and Russian to ensure the convenience of use.
- The product allows wallet users to convert funds through ShapeShift and Changelly quickly.
- High security ensures the safety of the user, all user requests are anonymized and the outgoing IP address is hidden.
Coinomi supports multi-language for easy operation for users
3. What are the limitations of Coinomi Wallet?
Besides the advantages, Coinomi Wallet still has many disadvantages that players need to know as follows:
- The product has not developed many attractive features to attract users, while competitors in the same field are emerging. have done this.
- Coinomi only supports the languages of 6 countries, the UK, France, Spain, Germany, China, Russia and no Vietnamese yet.
Wallet is still limited in user support language
4. Tokens that Coinomi wallet supports
Coinomi Wallet only supports some cryptocurrencies available on the virtual currency market. Here are some coins supported by Wallet, you can refer to it:
- Bitcoin (BTC)
- Bitcoin SV (BSV)
- Bitcoin Cash (BCH)
- Bitcoin Gold (BTG)
- Binance Coin (BNB)
- OmiseGO (OMG)
- Dogecoin (DOGE)
- Zcash (ZEC)
- Syscoin (SYS)
- Maker (MKR)
- Zclassic (ZCL)
- Ethereum (ETH)
- Stratis (STRAT)
- Reddcoin (RDD)
- DigiByte (DGB)
- Decred (DCR)
- Verge (XVG)
- Aeternity (AE)
- Litecoin (LTC)
- Huobi Token (HT)
- Pundi X (NPXS)
- Ethereum Classic Dash (DASH)
- Golem (GNT)
- Augur (REP)
- Holo (HOT) Mithril (MITH)
- Populous (PPT)
- SmartCash (SMART)
- Syscoin (SYS)
- Komodo (KMD)
- Waltonchain (WTC)
- Chainlink (LINK)
- Status (SNT)
- 0x (ZRX)
- IOST (IOST)
- Zilliqa (ZIL)
- RChain (RHOC)
5. Information about transaction fees of Coinomi wallet
In the Coinomi Wallet, users will not pay any fees exempt from storing, depositing, and withdrawing on Coinomi. You can use this e-wallet with peace of mind without worrying about having to pay for using Wallet. However, when you deposit and withdraw any 1 cryptocurrency, the trader must pay Blockchain network fees. This fee is paid to the miner or validator to ensure the network's security.
Coinomi is free to withdraw money on the system
6. Instructions on how to create a Coinomi wallet
Here are instructions on creating a Coinomi Wallet with Windows so that players can do it right away. Versions in macOS, Linux, Android, and iOS operating systems can follow the same steps.
Step 1: Everyone access the link "https://www.coinomi.com/en/downloads/" and then scroll down to download the application so that you can follow the instructions to create a Coinomi wallet below.
Install the Coinomi app on your device
Step 2: After the download is complete, the user opens the application and selects "Create a new wallet" and then ticks the box and clicks "Next".
Open the app to create an account and set a passwordStep 3: Coinomi will ask to confirm 24 keywords in the correct order. After confirming, please click “Next”.
Confirm the password for the account
Step 4: You need to set a password in the two boxes below and select “Next” to log in to Coinomi Wallet.
Create a password and then click next to go to the next step
Step 5: Select “token” that you want to display in the Coinomi Wallet and then click “Next”.
Choose the type of token that suits your needs
Step 6: Select “Accept”.
7. Detailed instructions on how to use the Coinomi wallet
How to use Coinomi Wallet is similar to other electronic wallets. Below are the product's features and detailed instructions on how to use the Coinomi Wallet for users' reference.
7.1 Introducing Coinomi Wallet Features Coinomi
The Wallet has many valuable features to meet the increasing requirements of users. Some special functions of the product can be mentioned as: **Exchange: **The feature allows you to exchange tokens. Buy Crypto: A feature that will enable users to buy tokens via bank cards. Invest: Introduce ICO projects to purchase Tokens. Wallet: Manage all added token wallets Settings: Contains special features like Addtoken, Exchange Rates, Show recovery phrase, Create/Restore wallet... Support: Support feature.
Coinomi Wallet supports many features to optimize user experience
7.2 How to add coin
Users who want to add coin to their account can follow these simple steps:
Step 1: Select “Add Asset” >> “Add coin”
Step 2: Find the token you want to add >> "Add".
Step 3: Enter the password of Coinomi Wallet >> “Unlock”.
Instructions on how to add coin
7.3 How to add token
If a player wants to add token to his account, he can follow these steps:
Step 1: Click “Wallet” >> “Add Asset” >> “Add token”.
Step 2: Select the platform on which your token is working.
Step 3: Select tokens for users who have accounts then >> “Add account”.
Step 4: Enter the password then >> “Unlock”
Step 5: Find and select the token you want to add then do the same as adding token.
Detailed instructions on how to add tokens
7.4 How to deposit
Above is a guide on how to deposit withdraw money on Coinomi wallet with Ethereum (ETH), other tokens you also do the same in the same order as for Ethereum. Above is a guide on how to deposit withdraw money on Coinomi wallet with Ethereum (ETH), other tokens you also do the same in the same order as for Ethereum.
Step 1: Select token you want to deposit >> “Receive”.
Step 2: The system will give you a wallet address >> top up >> Done.
Instructions on how to deposit tokens
7.5 How to withdraw token
Similar to depositing token, if you want to withdraw token, follow the following steps:
Step 1: You select the token you want to withdraw, select the “Send” tab and enter the information. Withdrawal information such as Pay to Enter the ETH wallet address you wish to remove and Amount is the amount of ETH you want to withdraw.
Step 2: Review the information and then click “Confirm”.
Step 3: Enter the password and then select “Unlock”. Ethereum's transaction confirmation time is very fast, less than 1 minute.
Instructions on how to withdraw tokens on the system
8. Is Coinomi Wallet Safe?
No one can confirm the absolute safety of a product, especially for e-wallets. However, to some extent, the information below will help readers visualize the problems of Coinomi Wallet in making a choice.
8.1 HD wallet
Coinomi Wallet is an HD (Hierarchical Deterministic) wallet that works based on a unique algorithm. The product provides customers with an additional layer of security that allows for recovery if something goes wrong. Wallet HD also generates a new wallet address for each transaction, which creates a higher level of privacy.
HD Wallet provides a special layer of security
8.2 Anonymizing IP
Coinomi keeps your identity secure by anonymizing your IP address through a secure identity server. The system helps shield the user's personal information and transaction details from bad actors and tracking technology.
8.3 Some source code available
The system makes significant portions of the source code available, allowing anyone to test the underlying software behind Coinomi and increase community involvement with the project.
9. Some alternatives to the Coinomi wallet
If using Coinomi Wallet makes you worried about something, users can refer to alternative solutions to Coinomi Wallet, which are detailed in the following section:
9.1 Atomic Wallet
Atomic Wallet is a multi-currency wallet that allows you to store many different tokens, including ERC20 tokens and tokens from other ecosystems such as Bitcoin, Litecoin, Ethereum, ... Also, the product There are both smartphone and desktop wallet options.
The multi-currency wallet is not custodial but also supports the number of tokens. The product is easy to use and comes with a fingerprint security feature to increase security. The wallet has 24/7 customer service support to assist customers promptly when problems arise.
Atomic Wallet supports many different types of Tokens
9.2 Trust Wallet
Trust Wallet is an unattended, multi-currency wallet supporting up to 15 significant cryptocurrencies and 20,000 tokens. The Wallet interface is easy to use, has open-source code, allows players to check for errors in the application.
However, the product does not yet have direct customer support, so it will need to use telegrams when users encounter technical problems.
Trust Wallet supports multiple tokens
9.3 Exodus wallet
The Exodus Wallet, has no custodian and can support over 125 crypto assets. The product is available for desktop computers and smartphones on iOS or Android. The development team has 24/7 customer service support to help solve user problems.
Exodus Wallet has desktop and mobile apps
What is Coinomi Wallet? Hopefully, this article of BHO Network has helped you somewhat to know information about the oldest and most popular technology product today. For more helpful information about the financial market, please visit the company's website.
Published on March 08, 2022
Bitcoin plunges: A bust or a buy?
Cryptocurrencies that seemed to be defying gravity just weeks ago came back down to earth with a bump on Wednesday after a roller-coaster ride which could undermine their potential as mainstream investments
June 03, 2021
Crypto recovery is happening
Market shows signs of crypto recovery
July 07, 2021
Blockchain 101: What is blockchain, and how does it work?
Blockchain for beginners
July 10, 2021
Vietnam & Singapore to Negotiate on Digital Trade Agreement
What could this deal mean for investors in these two countries?
July 13, 2021
Familiarized yourself with crypto via these terms
Get started on your crypto journey with these terms!
July 14, 2021
How to do a referral?
3 simple steps for you to do a referral and earn an attractive commission!
August 25, 2021
What's the difference between CEX and DEX?
How well do you understand the two types of exchanges in the crypto markets?
August 26, 2021
Crypto terms you should know
Do you know what do all these terms mean in the crypto world? Part 2!
August 30, 2021