Coinomi Wallet Increasing in Popularity
It was one of the first and remains one of the most popular. But why do people like the Coinomi cryptocurrency wallet so much?
More than 25,000 people descended upon the US city of Miami last week. The city may be home to the largest cruise ship port in the world, but these people had no intentions of sailing off to the Caribbean. Instead, they were there to attend the annual Bitcoin conference and, according to the conference organizers, the attendance of 25,000 was at least twice the number from last year’s conference.
In other words, despite the less-than-stellar year that the cryptocurrency market has experienced in 2022, at least compared with 2021, it's a market that continues to gain traction. When we consider the level of mainstream interest and the continuing widespread adoption of cryptocurrencies, innovations in blockchain technologies continue at a torrid pace. We’re now at a unique inflection point in the history of cryptocurrencies where governments across the globe are rapidly scrambling to implement regulatory measures in an almost harried fashion to reign in the mania.
This continued interest in the digital assets markets poses a new question to investors; what to do with them once they're purchased from an exchange. Not unlike many of us do with our cash and credit cards, investors need a reliable place to store their digital assets.
Welcome to the world of cryptocurrency wallets. Bitcoin, Ethereum, Dogecoin – these are all examples of digital currencies. Still, they're not something you can just stick in a safe or billfold. Storing your cryptocurrencies on the exchange where you buy them may seem safe enough. It's certainly a convenient option, but the truth is that you open yourself up to the liability of hacking.
Hackers have already sauntered off with billions of dollars in stolen cryptocurrencies after finding ways to compromise many of the cryptocurrency exchanges that emerged out of the Bitcoin Gold Rush.
The prudent course of action for any investor who has delved into the world of cryptocurrencies is finding the proper crypto wallet to store and transfer digital assets securely. There's plenty of options on the internet, but the concept is essentially the same. Cryptocurrency wallets can be a simple software program or physical devices that can store digital assets segregated from the internet.
Crypto wallets consist of a pair of "keys" – one public, the other private. The public key is the address cryptocurrencies can be sent to, and the oh-so-important private key is akin to the key to a lockbox.
Coinomi Wallet Gaining in Popularity
One of the best and most versatile crypto wallets offered on the market today is Coinomi – a software app that can be downloaded for free.
Coinomi was founded by the early fintech and blockchain technologies experts back in 2014.
It has rapidly become the crypto wallet of choice for many investors, having already been widely adopted by millions across the globe. It's a multi-chain wallet meaning that it supports over 1,700 different types of digital assets and offers extraordinary levels of security. Perhaps Coinomi’s most appealing feature is its track record of fluid compatibility with the Android operating system. As of 2019, Android accounted for nearly 90% of the global smartphone market, and that number has only increased.
In addition to its security and robustness, the Coinomi is the oldest multi-chain wallet available. It offers many useful features, including an interface that is very easy to use by technical and non-technical investors alike. If security is genuinely your utmost concern, take comfort in knowing that there hasn’t been a single incident of a Coinomi wallet ever being hacked or compromised.
Author: Greyson Kelly
Greyson Kelly is a business writer living in Milwaukee, Wisconsin. He writes extensively on technological trends, cryptocurrency, and ‘cutting edge’ industry topics. He has an MBA in Business and has over a decade of experience in communications and public relations.