go to coinomi.com
Fees
Another feature you will like about the Coinomi wallet is having the ability to customize the network transaction fees, something uncommon with other wallets. With some wallets, like Exodus, the developers set the network transaction fees – in some cases, the fees can be unfriendly. Having the freedom to choose low fees or high fees is advantage unlike where the service provider dictates the fees.
besides the network fees for the asset you are transferring; sending or receiving crypto using Coinomi wallet is zero charges. That’s a huge plus for the development team; you don’t have to worry about high or hidden charges, something synonymous with local exchanges like Coinbase. However, you get to pay fees for swapping digital currencies, which can significantly high.
Coinomi make their profit from the transaction spread in the Exchange feature; this means a percentage of the fee that charged by ShapeShift or Changelly to swap coins goes to the Coinomi team – however, they do not explicitly state this on their website.
The Pros & Cons
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The Pros |
The Cons |
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Quickly swap digital currencies. |
It is not open-source. |
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In-built privacy and anonymity features. |
It does not use 2-factor authentication. |
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Neat and user-friendly interface. |
It lacks multi-signature addresses. |
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Supports a variety of languages. |
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Friendly and responsive support team. |
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SPV client validation. |
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Leverages on superior security. |
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Supports a variety of coins and tokens. |
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Fees customization. |
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Elevated user autonomy. |
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Buy crypto with credit card. |
Final Thoughts
Like many people out there, when you get a dosage of Coinomi, you will most likely fall in love with it: the intuitive design, unrivaled security features, customized fees, friendly and responsive support, and the variety of coins+tokens it supports. In future, Coinomi hopes to include atomic swaps and lighting networks - that will be a game-changer.
Remember: Coinomi is only for small payment or to hold small amount of coins. But if we talking about a high-value investment, better get yourself a hardware wallet like Trezor. It is now going for EUR 69.