Trying to keep life savings more secured

[Bezobraznike]

   My crypto-holding is my saving, and I am sure that it's more secure than my money in the bank! I relay
more on crypto-future and my holdings, than on my fiat-savings. Time will tell, but I have more in crypto-
currencies, which is normal as I believe more in crypto-currencies.
   Keep your wallet offline, store your keys on several places, safe ones and you are secured. There is better
but more complicated security, but for me this is enough I believe.

[Ezravdb]

I often change my wallet to safeguard my assets, I often use wallet blockchain, trust wallet, Imtoken but there are no obstacles to my assets.  I recommend Trustwallet to protect your assets.  But some level of our carelessness that causes our assets to change hands because they often open sites that are not safe so that computers are often infected with dangerous viruses

[Crypto5060]

In terms of the best secure smartphone wallet, I think I will give it to TrustWallet. So far there has not been any negative experience concerning security of assets held on the app. If you can get a hardware wallet, I will say get one and keep your mind at rest forever.

[Shallow]

I am not really a fan of coinomi thus I don't know if the said issues is true since I rarely use it but if you are in doubt, want to try a new thing and/or want to be at peace with yourself and savings then maybe you can checkout trust wallet. Based on many reviews from users, it all points to a good fact and that is, trust wallet can be used without worries and till date no issues or security challenges have been recorded which is good and motivating.

[Brenny_Coinomi]

Trust wallet is better if you ask me, yes coinomi wallet had many issues in the past but backdoor by the team ain't one of them, and yes coinomi wallet is closed source which I really don't like, you can use Google to find lists of open source wallets

Hi Ken, Thank you for your support in refuting the claims of a 'backdoor' by us.

[Brenny_Coinomi]

This is the first time I'm hearing such claim about coinomi wallet, you should try using mycelium or myether wallet from now on, I might later try out other wallets myself, I don't want to end up losing my funds   though I have been using coinomi for long and no problem so far

Hi FurryBall, The only way any Coinomi user has ever lost funds is due to not keeping their recovery phrase secure or if a user does not save their recovery phrase. You can read about how Coinomi secures your private keys in this article: https://coinomi.freshdesk.com/support/solutions/articles/29000016248

As you said, you have already been using Coinomi and have had no problems.

If you ever encounter an issue and require support feel free to reach out at support.coinomi.com 

I used Coinomi before, and I don't have any problem with that. But then I moved all of the coins inside the wallet to hardware wallet because I already buy one ledger, so I don't know if Coinomi now has a vulnerability. Although my coin amount is not much but thank GOD, I already leave that wallet because I have a new wallet, and I don't have to worry now. You should buy one ledger to store all of your coins, so you don't have to worry too.

Hi EthereumHunter, There is no 'vulnerability' in Coinomi. You can read more about the previous issue which others seem to be speaking of here: https://twitter.com/kimionis/status/1131945228506738688?s=19

Once you come across facts like this, that is, about Coinomi having a backdoor through which users funds can be stolen, I think the first thing to be done is, sending the assets to another wallet first then making enquiries, this is you taking measures to protect yourself. However, I don't use Coinomi so can't really say if there is security breaches or not but on the other hand, Trust wallet is my now favourite wallet because it accepts various coins and also, so far there have been no issues whatsoever from those using it; you can give it a trial.

Hi Chuky92, There is no backdoor in Coinomi, We take user security very seriously, You can read about Coinomi's security here: https://coinomi.freshdesk.com/support/solutions/articles/29000016248

I think it is better that sometimes we read the whole Topic and not the Title because it seems that you are lost in this thread mate.
OP is talking about Coinomi and the victims of Losing their Money from the wallet.
anyway i have never used this wallet and for sure will never use it now reading the claims of losses?this must be avoided though they are running for years now yet they did not established a good reputation being a must be trusted wallet.

Hi Rodskee, The only way user's have ever lost funds when being user's of Coinomi is by (1) not saving their recovery phrase or (2) not keeping their phrase secure/sharing it with others. Coinomi has established a good reputation for over 6 years and has a large loyal user-base. You can read about Coinomi's security here: https://coinomi.freshdesk.com/support/solutions/articles/29000016248

I'm using coinomi wallet and I would like to know how people lose their funds using this wallet, I thought coinomi is the best mobile wallet? I have over 2k worth of Bitcoin in my coinomi wallet 🤔🤔🤔🤔 now I'm not so sure anymore

Hi Fireballex, The only way any user loses funds when using Coinomi is if they either (1) Do not save there recovery phrase or (2) someone else has access to their phrase due to saving it insecurely or sharing it with someone. Please read about Coinomi's security here: https://coinomi.freshdesk.com/support/solutions/articles/29000016248

[Brenny_Coinomi]

the fact that they are close source means the team can access the wallet from the back end.

Hi Rathaha10, this is very incorrect. Coinomi being closed source does NOT mean we have access to our users' wallets, Coinomi is a non-custodial wallet with ZERO access to your funds at any time. You can read more about our security features here: https://coinomi.freshdesk.com/support/solutions/articles/29000016248

[zero714309]

Trust wallet is one trusted for me. One time I am using coinomi but at this time not. I hear about what you talking about even I am also know about the fact they had little issue about energy (NRG). Little debate in twitter about Gen 3 migration and Coinomi team try to cheating NRG team.

[Brenny_Coinomi]

I have something i have to get off my chest after re-reading some of the comments in this topic.

It's not because YOU have used an unreliable wallet for years and didn't have a single problem, that it's a good idea to recommend said unreliable wallet to others.

For example, coinomi only sent the seed to google's online spellchecker when restoring a wallet from seed (IIRC). It's perfectly possible YOU created a new wallet and your seed wasn't sent to google... Or maybe it was sent to google, but nobody malicious parsed the logs and they were truncated after a while. But the bloke you recommend this wallet to restores his wallet from seed aaaaaand poooof => a couple days later he's robbed blind.

Hi Mocacinno, The 'vulnerability' only affected desktops for a short time and was only for those restoring their wallet. We addressed this in detail and fixed the issue as soon as it was fully disclosed to us. Coinomi is not an 'unreliable' wallet at all. We have a large, happy userbase. You can read more about the 'google spellcheck' issue here (although it already sounds like you have): https://twitter.com/kimionis/status/1131945228506738688?s=19

[adzino]

This is about coinomi wallet, I came across few posts on this forum saying they lose coins in coinomi wallet, some said coinomi wallet team insert a backdoor in the wallet to steal people's fund, how true is this?

Second question is, can you get me the list of open source wallet since coinomi wallet is closed source? What about trust wallet is it truly an open source wallet? Thanks

Since they have lot of accusation and according to the first post over here, they handled the situation badly, then don't use it. Don't risk anything! You have many other options left. Yeah, closed sources wallets are actually more riskier to use. You don't know what happening inside the wallet. They will have to blindly trust the developers with your financial aspects, which you never should.
Also be careful when using wallets suggested over here. Do your own research and get to know about those wallets before you even download them.

[Brenny_Coinomi]

Trust wallet is one trusted for me. One time I am using coinomi but at this time not. I hear about what you talking about even I am also know about the fact they had little issue about energy (NRG). Little debate in twitter about Gen 3 migration and Coinomi team try to cheating NRG team.

Hi Zero, There was no 'issue' with NRG, We (Coinomi and the NRG team) could not reach an agreement to continue our partnership, although we did try, so we could not support the GEN3 migration. Coinomi did not try 'cheatin' the NRG team. You can read our reasons for not supporting NRG gen3 here: https://twitter.com/kimionis/status/1235657505361063937?s=20

[Bitcoinislife09]

This is about coinomi wallet, I came across few posts on this forum saying they lose coins in coinomi wallet, some said coinomi wallet team insert a backdoor in the wallet to steal people's fund, how true is this?

Second question is, can you get me the list of open source wallet since coinomi wallet is closed source? What about trust wallet is it truly an open source wallet? Thanks

You can read all about the vulnerability here: https://bitcointalk.org/index.php?topic=5114708.0

If that's TL;DR; here's the short version:
It's not a backdoor, they used a library and didn't configure it properly, because of this the seed phrase was sent to google for spell-checking.
Eventough it was sent over SSL, somebody in google's HQ with access to the logs could easily parse them and find the unencrypted version of the seed.

There was a big discussion between coinomi and their victim, and in my opinion, coinomi took the low road... They defenately didn't handle the situation as they should have.

I would never touch coinomi with a  foot pole. Making mistakes is human, bugs happen, but the way they reacted made me have an instant dislike for their company.

If you're holding a lot of different altcoins, you might aswell go for a ledger or a trezor instead of meddeling with closed source wallets stored on your smartphone (do look at the list of altcoins they support out of the box... )

Holding your bitcoin for a long period takes a very firm privacy wallet. Many issues has been raised due to coinomi wallet, many are complaining because they are loosing coins at coinomi. With regards to using coin wallets there are many trusted bitcoin wallet aside from coinomi, you may research and have surveys about the trusted coin wallet so that you can make sure that your coins are in good hand. You may be cool enough in making your coins in hugher value through the trusted coins wallet that you will choose.

[fer_coinomi]

This is about coinomi wallet, I came across few posts on this forum saying they lose coins in coinomi wallet, some said coinomi wallet team insert a backdoor in the wallet to steal people's fund, how true is this?

Second question is, can you get me the list of open source wallet since coinomi wallet is closed source? What about trust wallet is it truly an open source wallet? Thanks

You can read all about the vulnerability here: https://bitcointalk.org/index.php?topic=5114708.0

If that's TL;DR; here's the short version:
It's not a backdoor, they used a library and didn't configure it properly, because of this the seed phrase was sent to google for spell-checking.
Eventough it was sent over SSL, somebody in google's HQ with access to the logs could easily parse them and find the unencrypted version of the seed.

There was a big discussion between coinomi and their victim, and in my opinion, coinomi took the low road... They defenately didn't handle the situation as they should have.

I would never touch coinomi with a  foot pole. Making mistakes is human, bugs happen, but the way they reacted made me have an instant dislike for their company.

If you're holding a lot of different altcoins, you might aswell go for a ledger or a trezor instead of meddeling with closed source wallets stored on your smartphone (do look at the list of altcoins they support out of the box... )

Holding your bitcoin for a long period takes a very firm privacy wallet. Many issues has been raised due to coinomi wallet, many are complaining because they are loosing coins at coinomi. With regards to using coin wallets there are many trusted bitcoin wallet aside from coinomi, you may research and have surveys about the trusted coin wallet so that you can make sure that your coins are in good hand. You may be cool enough in making your coins in hugher value through the trusted coins wallet that you will choose.

Unfortunately users still make mistakes when storing or backing up their seeds, which is the cause of such reports of lost coins. They can be found for any wallet. Coinomi is the largest and oldest multicoin wallet and has an enormous userbase. It will expectedly have its share of reports, as much as we try to educate our users about their security. You can read about the ways we protect users funds here: https://coinomi.freshdesk.com/support/solutions/articles/29000016248-how-safe-are-my-funds-how-are-my-private-keys-stored-. Since you mentioned privacy, you may also want to check out our privacy features: https://coinomi.freshdesk.com/support/solutions/articles/29000030207-what-are-coinomi-s-privacy-features-. Regarding the "vulnerability" posted by mocacinno, you can read the in-depth report about the entire disclosure and events here: https://twitter.com/kimionis/status/1131945228506738688

[tbterryboy]

This is about coinomi wallet, I came across few posts on this forum saying they lose coins in coinomi wallet, some said coinomi wallet team insert a backdoor in the wallet to steal people's fund, how true is this?

Second question is, can you get me the list of open source wallet since coinomi wallet is closed source? What about trust wallet is it truly an open source wallet? Thanks

Yup, I do have the Trust wallet app and it works perfectly for me. Mobile wallets have been the main thing I make use of, and that's because I am fond of my mobile device and hardly make use of my desktop.

I started making use of Blockchain, one thing I like about their wallet is that every single minute I want to receive payment I am able to generate a new address and I can also backup my funds using the twelve phrase backup. Next is the interface, it's very simple, unlike the wallets that are crowded and ugly.

I installed Coinomi and Mycelium wallets, but u never used them because I never liked them. I chose Trust Wallet, it's very much better than other open wallets. I saved Bitcoin in it and backed it with the 12 word backup phrase and uninstalled the wallet for some months, and when I installed it back and entered my backup phrase, the same amount of BTC I stored showed up.

[Samayuki]

Coinomi wallet is not that bad like many are saying, I still use the wallet even after thinking of going for other wallets after reading about many flaws and hacks, but the fact is I never seen a bad review or hack news about it's mobile wallet, the only one I heard bad reviews about is desktop wallet

[seleme]

Coinomi wallet is not that bad like many are saying, I still use the wallet even after thinking of going for other wallets after reading about many flaws and hacks, but the fact is I never seen a bad review or hack news about it's mobile wallet, the only one I heard bad reviews about is desktop wallet

It is more vulnerable to store the life savings in desktop or in online wallets, mobile wallets are not secure too. The used metadata is enough for brute-force and the thieves can found the password of the main wallet.

[Brenny_Coinomi]

Coinomi wallet is not that bad like many are saying, I still use the wallet even after thinking of going for other wallets after reading about many flaws and hacks, but the fact is I never seen a bad review or hack news about it's mobile wallet, the only one I heard bad reviews about is desktop wallet

Hi Samayuki, Thank you for replying here. As with all wallets, there will be some negative reviews or reports of lost funds. Coinomi is the largest and oldest multicoin wallet and has an enormous userbase. It will expectedly have its share of reports, as much as we try to educate our users about their security. You can read about the ways we protect users funds here: https://coinomi.freshdesk.com/support/solutions/articles/29000016248-how-safe-are-my-funds-how-are-my-private-keys-stored-. Regarding the "vulnerability" posted by mocacinno, Which affected the desktop wallet only, you can read the in-depth report about the entire disclosure and events here: https://twitter.com/kimionis/status/1131945228506738688 

[fer_coinomi]

Coinomi wallet is not that bad like many are saying, I still use the wallet even after thinking of going for other wallets after reading about many flaws and hacks, but the fact is I never seen a bad review or hack news about it's mobile wallet, the only one I heard bad reviews about is desktop wallet

It is more vulnerable to store the life savings in desktop or in online wallets, mobile wallets are not secure too. The used metadata is enough for brute-force and the thieves can found the password of the main wallet.

Hi Seleme, to protect your wallets Coinomi uses the same type of encryption the internet runs on. If you think this can be bruteforced, you should not be using internet at all. Coinomi has never been hacked, you can read about Coinomi's security here https://coinomi.freshdesk.com/support/solutions/articles/29000016248-how-safe-are-my-funds-how-are-my-private-keys-stored-

[irixo10]

This is about coinomi wallet, I came across few posts on this forum saying they lose coins in coinomi wallet, some said coinomi wallet team insert a backdoor in the wallet to steal people's fund, how true is this?

Second question is, can you get me the list of open source wallet since coinomi wallet is closed source? What about trust wallet is it truly an open source wallet? Thanks

I have used coinomi wallet and during that time there was no problems at all, in as much as your security Information are stored correctly. Also, i have not come across any accusations or proof that there is a backdoor in the wallet hence I won't say anything about it, but one thing I know is, it was safe till I left it to try a new wallet. It is your funds, it is your decision so go for the wallet you think is safe and better for you.

[blue_hurricanger]

I don't think putting your life saving into crypto wallet is a smart move. Come on, it is your life-saving mate! Put it where you can see it, feel it and touch it. Now, if you can afford, put a some extra spare part to crypto. Use the hardware wallet like Ledger and none of that closed source, mobile app bullshit and you will be good.