What is a quinoa?

coinomi is a well-known and popular cryptographic wallet that can store more than 500 currencies and is supported on multiple devices.

The wallet focuses on protecting users’ privacy and is still one of the safest wallets on the market, despite a slight failure in 2019.coinomi also allows you to convert your currencies from within your wallet to other currencies. In addition, it is quick and easy to install.

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 Is this wallet right for you?

In this article, we will give you everything you need to know about wallets, including security, usability, and collection support, while reviewing coinomi. We will also tell you the important points in order to set up your wallet and keep your currencies safe.

Check the Quinum Wallet

Coinomi is a multi-valued wallet. This wallet has been around since 2014, so this makes it one of the oldest Crypto currency wallets on the market. The wallet was first released as an Android wallet, then  transferred to  iOS , and finally the desktop version entered the market in 2019.

This wallet has a wide range of currency coverage that provides support and ownership of more than 125 blockchain assets. It also supports more than 382 tokens. Since this wallet supports the ERC20 standard    , you can add as many custom tokens as you want.

It also has SegWit Quinum  Wallet  enabled, which means you can trade much lighter. You can also set dynamic or custom fees. This means that you can choose the commission that gives the best value for your currency at that time, or you can set your own commission regardless.

Save private keys

? Not your keys?… Not your Crypto

We all know what this phrase means. The term is often used in the Crypto Currencies Association to warn newcomers about the risk of losing their currencies at a Crypto currency exchange or any other centralized system. Your currencies are at risk if an exchange is hacked or damaged.

Fortunately, the private keys produced on the Quinum device are completely stored on the said device. They are not sent to quinoom servers. This means that if you are using the mobile version, the keys are stored on the mobile phone, and if you are using the desktop version, the keys are stored on the computer.

Therefore, they will not be able to  extract your private keys until someone has access to the words  seed or the device you are using.

Privacy in Coinomi

One of the main reasons forCoinomi’s popularity, as well as its continued popularity, is that Coinomi’s wallet is great for protecting users’ privacy. Most Crypto currency enthusiasts seek privacy, which is one of the reasons why they use Crypto currencies.

Coinomi does not collect any personal information about the use of its wallet and even goes so far as  to hide users’ IP addresses  to prevent anyone from being spied on in their wallet usage patterns or transactions.

In addition to this privacy, you always feel secure, because the Quinum wallet has a password that even if someone steals your phone, it can not enter your Quinum wallet without that password.

A password recovery phrase is created when creating a wallet that you can use to access your wallet on another device if you lose or steal your mobile phone.

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User-friendly quinoa

If you are also worried about learning and adapting to the features of Crypto currencies, the simple user interface is one of the best features of Quinum Wallet. This interface is easy to understand even for those who are new to cryptocurrency. The options are clearly visible and everything is done with just a few taps or clicks.

This ease of use helps cryptocurrencies to be welcomed by more people who do not want to be bothered by the complexities of technology. It also sets a standard in the wallet industry, as other service providers have to at least adapt to a simple Coinomi user interface if they want to maintain their market share.

Finally, for those users whose first language is not English or who have difficulty understanding English texts, Quinum Wallet has been translated into several different languages. The bag supports Chinese, Spanish, French, Russian and German. The development team has also stated that translating the bag into other languages ​​is in their future plans.

coinomian currency conversion feature

What a number of multi-currency wallets offer these days is the wallet exchange feature. This allows you to exchange one currency for another without leaving your wallet.

coinomi is no exception, and they  have partnered with  ShapeShift  and  Changelly to allow users to exchange their cryptocurrencies instantly on coinomi wallets. This saves on transaction costs and does not waste time sending coins to the exchange.

In addition, since you do not have to send your currencies to an exchange to convert them  , it avoids the strict KYC requirements and privacy laws  that these exchanges sometimes comply with.

coinomi Support Team

Despite being free of charge, they provide support services to their users through a number of media. First of all, they have their own official support portal where there are many tutorials and tips for users and also some frequently asked questions are answered.

If you have a specific question that has not been answered, you can always create an article through this portal. After creating the content, you will be given a tracking number.

This is very useful and practical because you can use it to follow up your questions on the support team through their other communication channels.

coinomi is active on Twitter, Telegram and Facebook, where it regularly communicates with its user community. They also have their own official blog for some of the most important announcements and publications.

Quinoa is not open source!

Crypto currency enthusiasts usually want software that has free access to the code and can check the code to make sure there are no bugs or malicious code. coinomi has long been part of this open source movement, and anyone was able to view and review their code to identify any problems.

However, in 2018, coinomi changed its status to close source code. While this does not in itself mean that the Quinnium code is malicious, it removes some of the transparency and protection that Quinum users previously enjoyed. This was unfortunate for many users.

Of course, open source means that coinomi will leave its code open not only to similar hackers, but also to competitors. This can reduce the competitive advantage, which is exactly why the Exodus wallet team   decided to close some of its source code.

Whether you are comfortable with using a wallet with a closed source code is a matter for you to decide. In fact, it is possible that a lack of monitoring by the user community could lead to minor security vulnerabilities.

coinomi security flaw

In February 2019, a user reported on a social media channel that he had lost more than $ 60,000 in cryptocurrency from a Quinome wallet due to a security flaw. It seems that coinomi’s wallet sent users’ security phrases to Google for spell checking. The user claimed that someone at Google must have stolen his funds.

Although there was a bug in the code that sent the seed phrase   to Google for spell checking, it seems unlikely that anyone at Google might have stolen users’ funds or that the bug was the cause of the user losing currencies.

There are several reasons for this statement. Requests sent to Google were initially rejected because they did not contain the API key   . Second, it is impossible for anyone to Google the API stream   for cryptocurrency security expressions. And third, the seed expressions   were not sent in plain text, but in TLS format.

coinomi was able to fix the bug a few hours after learning about the bug, and you can see coinomi’s official response to this issue at the following address.

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

Quinoa wallet fame on the internet

coinomi is relatively active on Reddit, where support staff respond quickly to any questions and address any issues. In addition, the Crypto Currencies Association appreciates the accountability of coinomi representatives. This wallet has hundreds of thousands of users, so obviously they are doing their job properly.

Despite media coverage of the February incident, coinomi continues to claim that none of their cell-based wallets have been hacked or otherwise compromised. In fact, there was no other claim that funds were lost because of those bugs, and Coinomi continues to claim that there is no way a bug in the code could lead to a loss of funding.

This wallet  has a score of 4.6 on the  Google Play  Store and  Apple iTunes Store . And this rating is supported by more than 16,000 reviews in the Google Play Store.

Download and use Kvynvmy you can phone wallet Kvynvmy for both  Android  and  iOS  and desktop versions for   Windows, Linux   and  OSX  now. Downloading, installing and using the wallet on any device is very simple.

We show the steps of working with this wallet along with the pictures of each step for the Coinomi desktop wallet for training. You can go to the Coinomi download section and select the appropriate wallet for your current operating system.

You must first create a new wallet or recover your old wallet. We assume that you have just started working with this wallet, so we click on  “Create a new wallet”  .

Then, you will be taken to a transfer page where you will see your recovery phrase. As the instructions indicate, you should write this phrase and store it in a safe place. If you need to recover your wallet for any reason, you will need this phrase. Never share this phrase with anyone because they can use it to access your wallet. When you have copied it, check the  “I saved my recovery phrase”  checkbox. Click  “next”  .

In the next step, you will be taken to a page where you have to confirm your retrieval statement by clicking on the words arranged alphabetically. This is a quinoa method to make sure you have saved the recovery phrase correctly. You can skip this step if you wish. Click  “Skip”   or enter the words in the correct order and click  “Next”  .

Next, you will be asked to set your wallet password for everyday use. Choose a password that is as complex as possible, but make sure you remember it.

You will then be asked to select the Crypto currencies that you want to be displayed in your wallet. You can select this step now, or you can skip this step for now. It is always possible to add currency to display in the wallet.

Finally, read and accept the text of Coinomi’s legal disclaimer and transfer to your new Quinum wallet. Enjoy the free and decentralized world of Crypto currencies!

Wallet security

Now that you have downloaded and installed Quinum Wallet, you need to make sure you follow the best protocols for wallet security and Crypto currency management. These protocols include some of the following:

• Beware of malware:  Regardless of the security of the Coinomi wallet, if a hacker has installed malicious malware on your personal computer, Coinomi can do nothing to protect you. Malware that can copy your private keys is a serious risk for any wallet. Make sure you have the latest antivirus software installed and do not download any suspicious files.
• Keep your backup phrases safe: You will be given password recovery statements when you  create your wallet. Make sure you back up these phrases and keep them safe. They are the only way you can recover your currencies if you forget your password. If your device is lost or stolen, they are the only way to access your private keys.
• Physical Security:  Of course, when you store large amounts of cryptocurrency in your quinoa wallet, not only do you expose yourself to hackers, but there have been countless cases of people being threatened with physical violence because of their cryptocurrency. Have been extorted. In short, keep your currency assets private and do not trust anyone.

Conclusion

Coinomi is one of the oldest cryptocurrency wallets and is one of the most popular in terms of the number of downloads and reviews. With the addition of support for  iOS  and the desktop version, this possibility has been expanded and can become one of the most successful wallets due to its ease of use and support for a large number of cryptocurrencies.

Add support for  Shapeshift  and  Changelly  is another feature that is welcome for old and new users of cryptocurrencies, and support for hundreds of currencies allows many cryptocurrency enthusiasts to keep just one wallet instead of many. .

The February bug in desktop wallets was worrisome at the time, but after further reflection, it is clear that although it was a serious bug, it never posed a threat of currency loss. The Coinomi team corrected it a few hours after the warning, indicating that users have done the right thing in praising the Coinomi team.

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