Coinomi Wallet - Looking For Honest Reviews

[DaveF]

Snip

What happened in the case of that one user who claimed that he lost funds on your desktop platform because you use Google services for spell checking?
How did that case even end, was it proven that Coinomi was the one and only culprit and what is your theory on that case?  

Someone (not coinomi but paid by them) did a write up on it.
https://medium.com/@cipherblade/how-not-to-react-when-your-cryptocurrency-is-stolen-92f7c72616af


Coinomi statement: https://medium.com/coinomi/official-statement-on-spell-check-findings-547ca348676b

-Dave

[Lucius]

I recently tried the Coinomi wallet (desktop version), and have no objections about the overall impression. What is important about this wallet is the fact that it supports a large number of coins, that it has a very simple and friendly interface, and that there is a backup in the form of a seed words. Of course, what matters most is that the wallet is free, which, in combination with other features, will satisfy most users.

Of course, the most objection is to the fact that this is not an open-source project, which causes some doubt and skepticism, for good reason of course. Personally, I think this kind of wallet can be a good choice for those who are just beginners and want to play with a lot of altcoins. For some serious dealing with crypto, however, there are some wallets that offer a far better level of security.

[fer_coinomi]

What happened in the case of that one user who claimed that he lost funds on your desktop platform because you use Google services for spell checking?
How did that case even end, was it proven that Coinomi was the one and only culprit and what is your theory on that case?   

Besides the independent study and our statement linked a couple of posts above, please also read this short tweet thread from our CEO: https://twitter.com/kimionis/status/1131945228506738688

[Pmalek]

So the user who lost founds, or claimed that he lost founds, never actually proved that 
And now Coinomi is considering taking legal actions against him for putting user funds at risk making and not reporting the bugs (that were fixed the same day) to support staff of Coinomi. 

[Wind_FURY]

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.

Closed source? Get coins out, and uninstall. Don't support this. It goes against Bitcoin, as a movement, and as a philosophy.

[JollyGood]

So the user who lost founds, or claimed that he lost founds, never actually proved that 
And now Coinomi is considering taking legal actions against him for putting user funds at risk making and not reporting the bugs (that were fixed the same day) to support staff of Coinomi. 

If the version of events are correct it means Coinomi claimed in May 2019 it was starting legal proceedings (against the accuser Al Maawali) but I have no idea what has happened in the subsequent 7 months.

Regardless of how the funds were stolen and who is to blame the moral of the story is: Coinomi is closed source so all are advised to find an alternative


https://medium.com/@cipherblade/how-not-to-react-when-your-cryptocurrency-is-stolen-92f7c72616af

[dkbit98]

I don't use Coinomi as my standard wallet of choice, and I don't recomend it, but I do like few things about it.

- It has option to sign-a-message with from bitcoin address
- You can add Bitcoin testnet BTCt

As for open and closed source...
Let's be honest and say that most wallets are now closed source, and even if they are open source it means nothing if you don't verify the code yourself.

Most of us agree that Electrum is best BTC wallet and it is open source,  but people still lost Bitcoins due to hacks and phishing.

One alternative for Coinomi that I think is open source, is Atomic wallet:
https://atomicwallet.io/
https://github.com/Atomicwallet

Other option is Guarda wallet:
https://guarda.co/
https://github.com/guardaco

Trust wallet is third option
https://trustwallet.com/
https://github.com/trustwallet

(They all support Doge)

[bitmover]

I like coinomi

If you just need to use bitcoin in your mobile, you should use Samourai wallet , as it is open source and has many good features such as coin control.

However,  if you need more than one coin i just  go with coinomi.
Coinomi allows coin control in their mobile version, sign messages, full control over private keys, 3 addresses simultaneously.  And support more than a thousand different coins. Which other wallet offered that? None.

Should you keep your life savings there? Of course not. Buy a ledger or trevor for that.
But you could have a coinomi wallet in your phone for small values.

It is not a scam and it is an amazing software imo.

It is closed source, but ALL multicurrency walled are.

[dkbit98]

It is closed source, but ALL multicurrency walled are.

No they are not all closed source
I think Atomic, Guarda and Trust wallet are all open source if I am correct, and they have support for a bunch of shitcoins

[bitmover]

No they are not all closed source
I think Atomic, Guarda and Trust wallet are all open source if I am correct, and they have support for a bunch of shitcoins

Those are shitful wallets and are not nearly as safe, as tested and as good as coinomi.
And no, they are not open source.

Those are new wallets,  and some o them have scam accusations against them.
I doubt any of those have coin control feature.

Atomic wallet even claims that it has atomic swap, which is a lie.

Coinomi is running since 2014. You can't compare those wallets to coinomi.  Coinomi is better is every aspect imo.

[dkbit98]

Those are shitful wallets and are not nearly as safe, as tested and as good as coinomi.
And no, they are not open source.

Those are new wallets,  and some o them have scam accusations against them.
I doubt any of those have coin control feature.

Atomic wallet even claims that it has atomic swap, which is a lie.

Coinomi is running since 2014. You can't compare those wallets to coinomi.  Coinomi is better is every aspect imo.

Do you know any multi-shitcoin wallet that is not 'shitful'?  

And I don't know how you know that that this wallets are not open source.
I checked github for some and it is clearly Open source.
Trust wallet is supported by Binance exchange.

I don't support any of this wallets I just gave OP options to Coinomi that is confirmed NOT open source.

We can't have old and open source wallets for many shitcoins....they have to be new, open or closed source.

Ledger and other hardware wallets are also closed source.

[BrewMaster]

Closed source? Get coins out, and uninstall. Don't support this. It goes against Bitcoin, as a movement, and as a philosophy.

i don't think people are using this wallet for "bitcoin", they use it for the very large number of altcoins that it supports which gives it an edge compared to other wallets.
otherwise if there existed any other wallet similar to Coinomi that supported this many altcoins AND were open source then i am sure nobody hesitated in switching to it.

[cabron]

Closed source? Get coins out, and uninstall. Don't support this. It goes against Bitcoin, as a movement, and as a philosophy.

i don't think people are using this wallet for "bitcoin", they use it for the very large number of altcoins that it supports which gives it an edge compared to other wallets.
otherwise if there existed any other wallet similar to Coinomi that supported this many altcoins AND were open source then i am sure nobody hesitated in switching to it.

Having a close source code is a big no for users who sees transparency to be one of the most important factor of success specially in the opensource community such as blockchain and linux. I did have a Coinomi wallet installed in my phone but never did I got a chance to use it because my mind is fixed on electrum on desktop and ETH on myetherwallet.

We don't really know if they got the copy of our privatekeys and we can only be sure about it if we see the codes.

[JollyGood]

Do you know any multi-shitcoin wallet that is not 'shitful'?  

And I don't know how you know that that this wallets are not open source.
I checked github for some and it is clearly Open source.
Trust wallet is supported by Binance exchange.

I don't support any of this wallets I just gave OP options to Coinomi that is confirmed NOT open source.

We can't have old and open source wallets for many shitcoins....they have to be new, open or closed source.

Ledger and other hardware wallets are also closed source.

All advice and feedback is welcomed, thank you.

Sadly Exodus is not open source either: https://support.exodus.io/article/89-is-exodus-open-source

[dkbit98]

All advice and feedback is welcomed, thank you.

Sadly Exodus is not open source either: https://support.exodus.io/article/89-is-exodus-open-source

Yes, I knew that Exodus wallet is not open-source.
I found one link with all many wallets (over 220)
You can see what coins are supported and is wallet open-source:
https://www.cryptocompare.com/wallets/#/overview

[Pmalek]

Atomic wallet even claims that it has atomic swap, which is a lie.

According to their site they do have Atomic Swaps. They have a guide how to do it as well > https://atomicwallet.io/how-to-make-atomic-swap
You can create your own swap orders or accept those of other users. No idea if it works or not.
Have you tried it and it didn't work for you?

[bitmover]

Atomic wallet even claims that it has atomic swap, which is a lie.

According to their site they do have Atomic Swaps. They have a guide how to do it as well > https://atomicwallet.io/how-to-make-atomic-swap
You can create your own swap orders or accept those of other users. No idea if it works or not.
Have you tried it and it didn't work for you?

I didnt know this.
I thought thy were just saying changelly and shapeshift were atomic swap, like most wallets

No, I never tried and I didn't know this new feature.

They claim it is decentralized. Atomic swaps should be done by smartcontract,  theoretically.
I don't know if this can be called atomic swap but it looks like.

I had a bad experience in the past with that wallet , as other users (some provate keys could not be recovered after importing the seed), so I move away to other wallets. Maybe I will give it a shot later.

[JollyGood]

Atomic wallet even claims that it has atomic swap, which is a lie.

According to their site they do have Atomic Swaps. They have a guide how to do it as well > https://atomicwallet.io/how-to-make-atomic-swap
You can create your own swap orders or accept those of other users. No idea if it works or not.
Have you tried it and it didn't work for you?

The team behind Atomic Wallet are connected to the same group involved with Changelly and ChangeNOW - there are threads about their failed attempts to selective scam a user from the forum. Even if the code is open source I for one will never use anything those scammers provide and would advise all to proceed with caution if using them and their services:

https://bitcointalk.org/index.php?topic=4619534.0

[bitmover]

The team behind Atomic Wallet are connected to the same group involved with Changelly and ChangeNOW - there are threads about their failed attempts to selective scam a user from the forum. Even if the code is open source I for one will never use anything those scammers provide and would advise all the proceed with caution if using them and their services:

https://bitcointalk.org/index.php?topic=4619534.0

One more good reason to stick to Coinomi. They never scammed anyone.

however, even though Coinomi is a nice wallet, there are two wallets which is much betteR and do all coinomi does: Ledger Nano and Trezor.

Just buy one of those hardware wallets and you will be able to store all the coins you want knowing that you are using the best security technology to store your coins.

[Pmalek]

however, even though Coinomi is a nice wallet, there are two wallets which is much betteR and do all coinomi does: Ledger Nano and Trezor.

Except when it comes to the share number of supported assets. Coinomi would certainly win in that category.
But for most Crypto holders who don't own many altcoins, especially not the unknown ones, Ledger and Trezor are the way to go.