Coinomi wallet issues??? - page 2. | Bitcointalksearch.org

o_e_l_e_o

legendary

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Quote from: GreatArkansas on March 28, 2022, 08:00:59 PM

you are the one who owns your funds here.

Given that the wallet is closed source, you cannot say that with any certainty. We know from previous vulnerabilities that Coinomi was sending any seed phrase you entered across the internet to a third party, and there is no way to know that the seed phrases it generates are generated securely or are truly random.

Quote from: lepbagong on March 29, 2022, 12:40:11 AM

Coinomi maintains user privacy with measures;
No need KYC
No IP association
No identity link
No transaction tracking

This is not accurate either. To use Coinomi, you are connecting exclusively to their servers. They will therefore be able to trivially log all your addresses, all your transactions, all your activity, your IP address, and your device characteristics, at a minimum. What they do with all that information and who they share it with is anybody's guess. When you use a wallet which depends on a third party, then you are at the complete mercy of that third party.

cryptoaddictchie

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Quote from: worldtraveller321 on March 28, 2022, 07:27:07 PM

Hi there I been using the wallet Coinomi for a long time now. Is it true this wallet has had problems? should i be looking at another wallet ?
security of the funds an issue with Coinomi? or what are the negatives you have heard?

Ive used this wallet before, I have a coin with a different blockchain, and to my surprise, the coin that Ive stored there from a bounty gone. Im not sure what kind of error happened but eversince that incident, I quit using it since Im scared that there is something wrong with it. Never got error or mistake on receivimg that coin, and it even reflected on the wallet but when Im gonna send it to the exchange the coin gone. Not posting negative on this wallet just sharing my experience with it.

pooya87

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Coinomi team has had some very shady behavior in the past such as sending your seed to a remote server! But even if they didn't have any issues it still wouldn't matter, you must never use a closed source wallet simply because you have no way of truly knowing what it is doing under the hood.

lepbagong

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Quote from: worldtraveller321 on March 28, 2022, 07:27:07 PM

Hi there I been using the wallet Coinomi for a long time now. Is it true this wallet has had problems? should i be looking at another wallet ?
security of the funds an issue with Coinomi? or what are the negatives you have heard?

If you think I should i change wallets? what wallets you recommend? I use Exodus at moment?
thanks

I myself am not an active user on Coinomi, but if you look at the existing developments where currently Coinomi can be used on cellphones and computers with Android, IOS, Windows, Max and even Linux devices, and with a display that is no different from each other.
Coinomi maintains user privacy with measures;
No need KYC
No IP association
No identity link
No transaction tracking
Coinomi allows you to set custom fees for your transactions. Or, you can use dynamically calculated fees to get the best value for money every time.

as long as the op doesn't have a problem and doesn't experience any harm there doesn't seem to be a need to switch unless there are others with better capacities.
What is really needed as a user is a responsive support service and that is done by Coinomi, this is never forgotten and is the best jargon so that everyone feels safe and doesn't feel afraid because it can be resolved properly.

ChiBitCTy

legendary

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I’ve used Coinomi on apple and android over the years without any issues. It’s actually one of the more comprehensive wallets out there, and it’s a great wallet for sweeping paper wallets and splitting forks. One of the few who does this and quite well. That said it’s a hot wallet and should not be used as a primary storage device. Only keep a little btc for on the go in hot wallets. Id recommended and Trezor or Cold Cards hardware wallet for long term storage.

This topic might need to be moved to wallet software. (This can be done at the bottom of the page)

Bttzed03

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https://bitcoincleanup.com/

One of the main issue against Coinomi is that it's not open source anymore. While it's true that you hold your keys/seed phrase, users like you are in the dark with what the developers are really doing with the codes. Who knows if and when they suddenly insert a malicious code that would steal your funds? They said that it's to prevent other devs from cloning their wallet but some people argue that the reason is kinda shallow when you think of the risk. Exodus is also the same (closed source).

Maybe use separate storage for your BTC (Electrum) and altcoins or use hardware wallet like Trezor.

Chato1977

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Quote from: worldtraveller321 on March 28, 2022, 07:27:07 PM

Hi there I been using the wallet Coinomi for a long time now. Is it true this wallet has had problems? should i be looking at another wallet ?
security of the funds an issue with Coinomi? or what are the negatives you have heard?

If you think I should i change wallets? what wallets you recommend? I use Exodus at moment?
thanks

I am Coinomi user as well and had no issues facing since then , where did you get that Wallet problems? you should share those here so we can clearly check if those problem is legit or they are just breaking coinomi's name .

but for me like what the first poster says? coinomi has no issue at all and still installed in my device for how many years now.

GreatArkansas

legendary

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I am using Coinomi for a very long time, Coinomi is my first multi-chain cryptocurrency wallet, even now it is still installed on my devices, I already tried their desktop wallet and mobile too. And it is not a centralized wallet where you own your keys here, you are the one who owns your funds here.
So far I didn't hear some serious issues with Coinomi recently.

worldtraveller321

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Hi there I been using the wallet Coinomi for a long time now. Is it true this wallet has had problems? should i be looking at another wallet ?
security of the funds an issue with Coinomi? or what are the negatives you have heard?

If you think I should i change wallets? what wallets you recommend? I use Exodus at moment?
thanks

Topic: Coinomi wallet issues??? - page 2. (Read 542 times)