Coinomi Wallet: The blockchain wallet trusted by millions

Coinomi opened its doors for the first time in 2014 and provided the oldest multichain wallet. The wallet can store over 1,770 different digital currencies, provides multiple fiat currencies and language options, and the best thing is it's free to use. Check out the guide on Coinomi Wallet for the complete rundown of its amazing features and to know if it is correct.  

Defining Coinomi Wallet

Coinomi Wallet is a self-custodial blockchain wallet that utilizes hot storage. It supports all the popular virtual currencies and NFTs (non-fungible tokens) and is compatible with over 125 blockchains. When it comes to security, the wallet features the best security options and has zero hacks or compromised data. For investors who need a crypto wallet that can perform it all, from storing NFTs and digital currencies to trading through in-built exchanges, Coinomi Wallet is the correct fit. 

Benefits of Using Coinomi Wallet

Support over 1770 digital currencies:

With different kinds of crypto assets, getting a wallet that offers a huge range of tokens is essential. Coinomi does this by supporting over 1770 virtual currencies. 

The wallet also supports over 125 blockchains, the highest number in the market among self-custodial wallets. You can keep most or all of the cryptocurrency portfolio on Coinomi. 

In-built exchanges 

Coinomi permits users to exchange thousands of digital assets via decentralized exchange integrations and partnerships. Also, it supports cryptocurrency purchases through card payments via the partnership with Simplex. 

Compatible with SegWit 

Coinomi supports SegWit for several cryptocurrencies, such as Litecoin (LTC) and Bitcoin (BTC). SegWit transactions provide lower fees and quicker confirmations, so having this exclusive feature accessible saves users' assets and gets their transfers processed quickly. 

Best customer support 

Coinomi provides 24/7 customer support via live chat on its mobile app and website. It is best to have support readily accessible, particularly if you are a beginner, as they can look a little complex when first using them.  

Multilingual with fiat currency options 

Coinomi Wallet is an international blockchain wallet that users can create with the currency and language they need. It is readable in about 25 languages and provides 168 fiat currency options. 

Cryptocurrencies Offered by Coinomi Wallet

Coinomi offers over 1,770 virtual currencies. Some cryptocurrency wallets offer more like Coinbase Wallet, but what the Coinomi Wallet provides is sufficient for the typical investor. The digital currencies it offers are: 

• Litecoin (LTC)

• USD Coin (USDC) 

• Monero (XMR)

• Ethereum (ETH)

• Bitcoin (BTC) 

Steps to Set Up a new Coinomi Wallet

One essential function of the wallet is its user-friendly features, particularly for users new to crypto. You can go through these instructions to set up a new wallet. 

• First, you must move to the official Coinomi Wallet website to download the wallet extension. 

• Or, you can download its smartphone app on your smartphone device. 

• After the installation, you should locate and hit the Create a new wallet tab on the homepage. 

• Next, the app will give you a secret seed phrase you must note down and keep in a safe location. You could utilize this seed phrase to retrieve your wallet on another device if you lost your currency device. 

• Then, you should develop a strong and unique password for your wallet and choose which digital currency you wish to have displayed on your wallet. 

• After that, you can keep desired cryptocurrencies in the wallet. 

Steps to Exchange Crypto on Coinomi Wallet

Coinomi is a leading cryptocurrency exchange where users can exchange virtual currencies on multiple wallets because of the API of Challegelly, which is part of Coinomi. Below is the detailed procedure on how one can swap crypto:

• Let's start; you should launch the Coinomi Wallet app on your desired device.

• Secondly, you must enter your wallet using the password and hit the Changelly tab on the home screen. 

• Then, you must pick the coins you need to swap and specify the amount you desire to convert. The estimated amount you are about to get will appear on your screen.

• Next, provide a secure password to confirm the transaction. 

• After this, you can check the wallet balance to know if you have received the amount exchanged. 

Final Words

Coinomi Wallet is a multichain, security-conscious cryptocurrency wallet that users can use on desktop and smartphone devices. This digital wallet provides ownership and support for hundreds of tokens and 125 blockchains. The main purpose of the wallet is to assist virtual currency users in storing their assets. If you are seeking a wallet that features it all, from browsers for dApps (decentralized apps) to in-build exchanges, Coinomi Wallet is worth considering. You can follow the above guide to learn about this wallet and create an account.