alternative to coinomi (android)

[bitmover]

I even made a quick swap LTC > btc yesterday from inside the wallet. No kyc, no questions, easy to use. Only 60 usd, but worked well

Which third party exchanges are they using for the swaps? Their website claims they have established partnerships with several decentralized exchanges. But something tells me that is false and they still rely on services like Changelly, ChangeNOW, or something similar. Coinomi's swap feature on the website mentions Changelly. If it's that, it's neither decentralized nor privacy-preserving or KYC-free.

Inside the wallet there are 3 buttons to make exchanges.
 a swap button
another button called DEX.
And another one called Jupiter

These are different things.

For DEX they use BEBOP  , ethereum only
https://bebop.xyz/about

 Jupiter is a Dex for solana chain.

They also have the swap button. In the swap, they state that your coins may trigger kyc due to AML rules.

[bitmover]

I don't know where to post this,  but I believe people here will be interested

https://www.exodus.com/support/en/articles/10862085-what-should-i-do-with-my-monero-xmr-before-support-ends

Exodus is dropping support for Monero by August 10.

Let's hope coinomi decides to fix it in its wallet..

[Forsyth Jones]

I don't know where to post this,  but I believe people here will be interested

https://www.exodus.com/support/en/articles/10862085-what-should-i-do-with-my-monero-xmr-before-support-ends

Exodus is dropping support for Monero by August 10.

Let's hope coinomi decides to fix it in its wallet..

Coinomi needs to be open source again, I still don't know why they haven't made that decision yet, if I don't remember, they had promised, right?

In addition, the wallet needs to add p2tr addresses support and silent payments for Bitcoin.

I've used coinomi a lot in the past!

[bitmover]

Coinomi needs to be open source again, I still don't know why they haven't made that decision yet, if I don't remember, they had promised, right?

In addition, the wallet needs to add p2tr addresses support and silent payments for Bitcoin.

Coinomi was never open source. Probably never will. There isn't a single open source multicurrency wallet out there , except for Unstoppable which is terrible in my opinion .

I doubt it will ever support silent payments as well... almost no wallet supports it...

But it supports coin control, message signing, which is quite good already.

But I am talking about XMR now. Many wallets dropping support. Coinomi and now exodus.

[ABCbits]

Coinomi was never open source. Probably never will.

FWIW, http://web.archive.org/web/20180611023059/https://github.com/Coinomi/coinomi-android shows that Coinomi used to publish source code for Coinomi Android version. But since it's just page snapshot and that repository no longer exist, i can't verify what kind of license they used to apply.

[Pmalek]

In addition, the wallet needs to add p2tr addresses support and silent payments for Bitcoin.

I don't think they will go that far as supporting Taproot and Silent Payments. Besides, if those two features are important to someone, there are better software choices than a multicurrency wallet like Coinomi. A Bitcoin-only wallet would be a better choice. However, all this is pretty experimental still, with some wallets being in beta and others offering only sending but not receiving capabilities.

Coinomi was never open source. Probably never will.

Coinomi was allegedly open-source up until 2016/2017. They claim to have gone closed-source to "protect their users from getting scammed." I managed to find this tweet of theirs that mentions it. I am sure there are older references.

[dkbit98]

Drop closed source Exodus and make a switch to Cake wallet, you won't make a mistake.
They already posted detailed instructions how to migrate from Exodus to Cake wallet on their website:
https://docs.cakewallet.com/tutorials/exodus/

Latest version of Cake Android wallet just added Tor support,
and they added stablecoin dEURO with earning 10% interest, if anyone is interested in that.
https://blog.cakewallet.com/cake-wallet-releases-native-tor-integration-european-defi-and-enhanced-usability/

[bitmover]

Drop closed source Exodus and make a switch to Cake wallet, you won't make a mistake.
They already posted detailed instructions how to migrate from Exodus to Cake wallet on their website:
https://docs.cakewallet.com/tutorials/exodus/

I liked this wallet. It also support some altcoins (BTC LTC SOL TRX etc)
very good, I thought it was monero only.

I will test it later on.

[LoyceV]

they added stablecoin dEURO with earning 10% interest, if anyone is interested in that.
https://blog.cakewallet.com/cake-wallet-releases-native-tor-integration-european-defi-and-enhanced-usability/

From your link:

• True Decentralization: Unlike traditional Euro stablecoins that rely on centralized banks
• Attractive Yields: Earn up to 10% APR on your dEURO holdings with just a tap
• Risk-Free Lending: Put your Euro assets to work without complex protocols

This sounds like it's "too good to be true".

Borrow freshly minted dEUROs using a collateral of your coince

That sounds a lot like fractional reserve banking.

smart contracts

"Smart" contracts have lost hundreds of millions over the years.

https://deuro.com/what-is-deuro.html
I can't embed the image, but this doesn't explain what would happen if the collateral drops in value. It reminds me of Luna.

Savings rate (APR) 10%

If that would be true and risk-free, they wouldn't need me, they'd have institutional investors lining up.

[JollyGood]

For some reason, this does sound familiar. If I recall correctly, there was an incident that provided an excuse for the Coinomi team to not only make future releases private but also claimed they took the step to protect customers. Since they have returned, they have a lot of positive reviews even though their software is not open source. Personally, I am unsure if I would use it because the open source factor does play a big part in the decision making process.

Coinomi was allegedly open-source up until 2016/2017. They claim to have gone closed-source to "protect their users from getting scammed." I managed to find this tweet of theirs that mentions it. I am sure there are older references.

[hosemary]

If I recall correctly, there was an incident that provided an excuse for the Coinomi team to not only make future releases private but also claimed they took the step to protect customers.

Coinomi had a vulnerability sending users seed phrase to google servers and that may be what you are talking about.


More information about the vulnerability and how it caused someone to lose all his money:
WARNING - Coinomi Wallet CRITICAL Vulnerability Made Me Lose My Life Savings

[JollyGood]

Now that you mention it, yes I think it was that problem with the seeds being unencrypted. That incident did damage their reputation but taking the whole project closed source citing they were protecting customers was probably a very big mistake as they lost the trust of many of their core users.

Coinomi had a vulnerability sending users seed phrase to google servers and that may be what you are talking about.


More information about the vulnerability and how it caused someone to lose all his money:
WARNING - Coinomi Wallet CRITICAL Vulnerability Made Me Lose My Life Savings

[Pmalek]

If I recall correctly, there was an incident that provided an excuse for the Coinomi team to not only make future releases private but also claimed they took the step to protect customers.

Coinomi had a vulnerability sending users seed phrase to google servers and that may be what you are talking about.

The incident that involved sending seed phrases to Google servers for spell-checking happened in 2019. By that time, Coinomi was already closed-source for like three years. That isn't the reason they did it. I also think that it affected only their desktop client and not the mobile app (or the other way around).

Coinomi talked about scammers using their software and publicly available code to create fake copies of it that were then modified and used to scam people. They mentioned that at least 10 malicious Coinomi clones existed that stole keys from users. That could be what made them go closed-source.

[LoyceV]

Coinomi talked about scammers using their software and publicly available code to create fake copies of it that were then modified and used to scam people. They mentioned that at least 10 malicious Coinomi clones existed that stole keys from users. That could be what made them go closed-source.

Computer virusses have been attaching themselves to executables for decades now, so I don't think this matters. If someone downloads their software at the wrong place, it's a risk.

[ABCbits]

--snip--
The incident that involved sending seed phrases to Google servers for spell-checking happened in 2019. By that time, Coinomi was already closed-source for like three years. That isn't the reason they did it. I also think that it affected only their desktop client and not the mobile app (or the other way around).

Do we know when exactly Coinomi closed their code? Old page archive[1] shows Coinomi android source code still available in middle 2018, while last commit on "master" branch happened on late 2017. So it's not about 3 years since that incident.

Coinomi talked about scammers using their software and publicly available code to create fake copies of it that were then modified and used to scam people. They mentioned that at least 10 malicious Coinomi clones existed that stole keys from users. That could be what made them go closed-source.

Computer virusses have been attaching themselves to executables for decades now, so I don't think this matters. If someone downloads their software at the wrong place, it's a risk.

And it also applies to android apps, usually under name Android modded APK. I've seen people getting their money stolen after downloading modded APK (either for pirate purpose or looking for additional feature)

[1] http://web.archive.org/web/20180611023059/https://github.com/Coinomi/coinomi-android

[Pmalek]

Computer virusses have been attaching themselves to executables for decades now, so I don't think this matters. If someone downloads their software at the wrong place, it's a risk.

I wasn't talking about viruses but maliciously modified versions of Coinomi that steals seeds and keys to empty wallets. In a way, one might say it's a virus. I don't think their argument is justified and a valid reason to go closed-source but that's what they said.

Do we know when exactly Coinomi closed their code? Old page archive[1] shows Coinomi android source code still available in middle 2018, while last commit on "master" branch happened on late 2017. So it's not about 3 years since that incident.

This tweet is from December 2017. In it, they explain their reasons for no longer being open-source. Therefore, they were already closed-source in 2017. I could swear I came across some other information (maybe a tweet) that says the change occurred in 2016.

[dkbit98]

This sounds like it's "too good to be true".

Cake wallet didn't create dEURO and I honestly don't care at all about stablecoins and earning interest, but I know some people like them.
I am sure this is based on ethereum and similar blockchains, and they already have similar earning feature, so it' nothing new.

Coinomi had a vulnerability sending users seed phrase to google servers and that may be what you are talking about.

Yeah I remember users complaining about this few years ago.
I would never use closed source crap like Coinomi.

[LoyceV]

Monero has been broken for about 3 years now. I don't know what they're "updating", but clearly it's not their backend Monero server....

There's "news": when I click Monero in Coinomi 1.65.0, it says:

Update available!
Update to version 1.65.0 to begin syncing your XMR wallet. Contact our support for any issues you face

Even though I have this version already, and it's still not syncing.

[nc50lc]

Even though I have this version already, and it's still not syncing.

That update message is also showing on my end, it's also the same version 1.65.0 (build 475)

It "appears" to be syncing, the connection icon changed to green after a few seconds so it's at least connected to their server.
That includes multiple attempts using "Resynchronize".

But I can't confirm if it actually synced since I don't have any XMR in Coinomi.

[LoyceV]

It "appears" to be syncing, the connection icon changed to green after a few seconds so it's at least connected to their server.

That icon usually goes from red to green after a few seconds, at the same time the fiat value is updated. I don't think it has anything to do with the server connection. But recently, it turns gray instead of turning green. I emptied that wallet years ago (before I reinstalled Coinomi), so when my old transaction show up I'll know it's working again.

But I can't confirm if it actually synced since I don't have any XMR in Coinomi.

PM me your address and I'll send you my $0.02