Bitcoin and Altcoins have, over the years, become very popular globally in the online payment and digital asset systems. The system allows for transactions to be done between the involved parties directly, with verification of the transactions being done by network nodes and blockchain being the ledge where the transactions are recorded. Using the bitcoins and Altcoins requires one to have an online wallet. Coinomi is a free Multi-coin, open-source HD wallet used to store the Altcoins and Bitcoins. It has a variety of features and functionalities to offer convenience to the users.
Coinomi can support native bitcoins and many of the major altcoins in the market. The wallet is continuously upgraded to integrate other key altcoins in the market. This makes the wallet very convenient to use for people using various coins available. The wallet currently supports 43 types of coins that are in existence. Through a strategic partnership with ShapeShift, it allows for conversion between altcoins within the wallet. The conversions are instant. Hence one can convert the altcoins they have to those that are convenient for the particular transactions they would like to perform.
The safety features are also very impressive. The wallet encryption is strong, and one is provided with cryptography guarantee that ensures the owner’s funds are safe at all time. It is also to ensure that they are the only ones able to control the funds in their wallet. In additional, Coinomi Universal Wallet provides its users enhanced privacy and anonymity. With the wallet, there is no KYC bureaucracy that can access one’s funds, there is no association with IP, the identity of the user is safe and hidden, and all transactions cannot be tracked. The servers used to control the wallet anonymize all the activities being conducted from the wallet. With the wallet, there are no hidden codes, exploits, malicious modules or small letter. The wallet codes are available to the public and public reviews on the code are available too. This makes the wallet trustworthy.
The wallet features Hierarchical Deterministic Wallet BIP44 that enables the users to keep the contents of their wallet secure and accessible. With only one super-passphrase, the items, and the relevant information are backed up once and for all.
A wallet that enables one to carry out online transactions has to be user-friendly. Coinomi Universal Wallet does not disappoint, providing a user-friendly interface. The wallet has been designed using advanced technology that allows the user to pay their altcoins directly to any bitcoin address and the reverse too. The process does not involve any extra steps. It is also not clogged with endless sing-in processes. The payment is made with just one click.
It is also convenient to use in most of the devices. The wallet is top engineered, and it can run very smoothly and efficiently in older, low-spec devices. It also utilizes less power and also fewer data. Huge files need not be downloaded locally. Instead, any new features that are availed for the Coinomi Universal Wallet are crowdsourced. Another aspect of the kind of convenience that comes with using this bitcoin and altcoin wallet is the convenience in the language it offers. The wallet can support English, Chinese, and Russian languages among many other languages. More languages are being incorporated in the development of the wallet that will have even a much wider audience being able to conduct transactions and use it.
Any problems and difficulties encountered in using the wallet can be reported, and support provided through email support system.