Coinomi and Atomic Wallet are both popular choices for storing and managing cryptocurrencies. Both wallets offer a variety of features and support for multiple cryptocurrencies, making them appealing options for users looking to diversify their portfolios.
In this blog post, we will compare Coinomi and Atomic Wallet to help you decide which one is the best fit for your needs. We will delve into the security measures, user interface, supported cryptocurrencies, and other key features of both wallets to give you a comprehensive understanding of their capabilities.
Whether you are a seasoned cryptocurrency investor or new to the world of digital assets, this comparison will provide valuable insight into the strengths and weaknesses of these two popular wallets.
Key Takeaways:
- Coinomi supports a wider range of cryptocurrencies compared to Atomic Wallet.
- Coinomi has a built-in exchange feature, allowing users to easily exchange one cryptocurrency for another within the wallet. Atomic Wallet also has an exchange feature, but it is powered by a third-party service.
- Coinomi has a simple user interface that may be more suitable for beginners, while Atomic Wallet has a more advanced interface with more advanced features.
Coinomi vs Atomic Wallet: Key Differences
| Feature | Coinomi | Atomic Wallet |
|---|---|---|
| Launched date | 2014 | 2017 |
| No. of supported currencies | > 1,800 | > 500 |
| No. of blockchains supported | > 105 | ERC20 (ERC20) Wallet |
| Fees | Zero trading fees, customizable network fees | 2% ($10 minimum) card purchase, customizable network fees |
| Security measures | hierarchical deterministic, Multisignature, seed phrase backup | Multisignature, seed phrase backup |
| Staking | Supported | Supported |
| In-app features | Exchange, portfolio management, swap, staking | Exchange, portfolio management, staking |
| Hardware compatible | No | No |
| Mobile app | Available | Available |
Coinomi
Coinomi is a popular cryptocurrency wallet that allows users to store and manage a wide range of digital assets. It is a hierarchical deterministic (HD) wallet, which means that it generates a new address for each transaction and helps to improve privacy by not reusing addresses.
Pros
Supports crypto and NFT Storage
High security and Anonymity
Built-in DEX
Cons
Not Cold storage
Not Open source
Not all blockchains are supported
Coinomi integrates with several third-party services, such as ShapeShift and Changelly, which allow users to easily exchange one cryptocurrency for another without the need to send their assets to exchange.
The wallet is available on a variety of platforms, including iOS, Android, and desktop, and features a user-friendly interface that makes it easy for users to send, receive, and exchange cryptocurrencies.
Key Features of Coinomi Wallet
- Multi-chain support: Coinomi is a multi-chain wallet, which means that it supports multiple blockchain networks and allows users to hold and manage multiple cryptocurrencies within the same wallet. This is a convenient feature for users who hold a diverse portfolio of cryptocurrencies.
- Multi-seed support: Coinomi also supports multi-seed support, which means that users can create and manage multiple seed recovery phrases within the same wallet. This can be useful for users who want to create separate seed phrases for different assets or for increased security.
- Cold staking support: Cold staking is a feature that allows users to delegate their stake in a proof-of-stake (PoS) cryptocurrency to a third party without transferring ownership of the stake. This allows users to earn rewards from their staked assets without having to run a full node or keep their devices online all the time. Coinomi supports cold staking for certain PoS cryptocurrencies.
- CryptoDNS: CryptoDNS is a feature that allows users to access blockchain websites using human-readable domain names instead of long, complex addresses. This can make it easier for users to access decentralized applications (DApps) and interact with the blockchain.
- Native SegWit support: Native segwit is a feature that allows Coinomi to support the Segregated Witness (SegWit) protocol, which is a solution to the problem of transaction malleability in Bitcoin. SegWit allows for increased transaction capacity and reduced fees on the Bitcoin network.
- DApp and web3 support: DApp and web3 support allow Coinomi to interact with decentralized applications (DApps) built on the Ethereum blockchain and other blockchain networks that support smart contracts.
- Zero fees within the wallet: Coinomi does not charge any fees for transactions within the wallet. However, users may still be required to pay network fees when sending transactions on the blockchain.
Atomic Wallet
Atomic Wallet is a multi-currency wallet that allows users to securely store, manage, and exchange various cryptocurrencies. It supports more than 500 cryptocurrencies and offers a number of features such as a built-in exchange, a secure private key storage system, and support for Ledger hardware wallets.
Pros
Supports 500+ crypto and NFT Storage
Encrypted private keys
Built-in DEX
Cons
Not hardware-compatible
Limited assets supported
Not all blockchains supported
Atomic Wallet, founded in 2017 by Konstantin Gladych, CEO and co-founder of Changelly, offers support for over 500 cryptocurrencies. Known for its security, speed, privacy, and anonymity, it is a reliable choice for both beginner and experienced cryptocurrency investors. The wallet was initially launched under the name “Atomic Swap.
Key Features of Atomic Wallet
- Cross-platform support: Atomic Wallet is available on Windows, macOS, Linux, Android, and iOS.
- Built-in exchange: The wallet has a built-in exchange powered by Changelly and ShapeShift, which allows users to quickly and easily exchange one cryptocurrency for another.
- Multi-currency support: In addition to supporting a wide range of cryptocurrencies, Atomic Wallet also supports multiple fiat currencies, including USD, EUR, and GBP.
- Custom token support: Users can add custom tokens to their wallet by adding the token contract address and decimals.
- Security: Atomic Wallet uses secure encryption to protect user funds and private keys, and also offers the option to set up a password for added security.
- User-friendly interface: The wallet has a simple, user-friendly interface that makes it easy for even novice users to manage their cryptocurrencies.
- 24/7 support: Atomic Wallet offers 24/7 support through its live chat and email support channels.
Coinomi vs Atomic Wallet: Security & Anonymity
Coinomi uses secure hardware storage and supports multiple layers of security, including password protection and two-factor authentication. It also has a feature called “Secure Accidental Address Reuse,” which helps prevent the reuse of addresses and reduces the risk of funds being lost or stolen.
Atomic Wallet also uses secure hardware storage and has password protection and two-factor authentication available. It also has a feature called “Private Keys Control,” which allows users to keep their private keys on their own devices, rather than on a server controlled by the wallet provider.
Coinomi allows users to create and manage multiple wallets with different cryptocurrencies within the same app, which can help increase anonymity. It also supports the use of privacy-focused cryptocurrencies, such as Monero, which can help users maintain a higher level of anonymity when making transactions.
Atomic Wallet also supports multiple cryptocurrencies and allows users to create and manage multiple wallets within the same app. It also has a feature called “Atomic Swaps,” which allows users to exchange cryptocurrencies directly with each other, rather than through a centralized exchange. This can help increase anonymity as it reduces the need for personal identification information to be shared.
Coinomi vs Atomic wallet: Fees
Coinomi: It charges network fees for sending transactions on the blockchain. These fees are paid to the miners who validate and process the transactions and are necessary to ensure that your transaction is processed in a timely manner. The exact amount of the fee will depend on the cryptocurrency you are using, the size of the transaction, and the current level of network activity.
You can choose the fee level when you send a transaction, with higher fees generally resulting in faster processing times.
Atomic Wallet: By selecting “set charge” and modifying the slider on the transmit page, network fees may be tailored. It is critical to realize that network fee customization affects transaction speed. For instance, it is “logical” that miners will compete to validate A’s transaction first if A and B both want to send 2 BTC each and set their network fees to $5 and $0.05, respectively.
Finally, a third-party partner called Simplex makes it possible to purchase cryptocurrency in the wallet using a credit card. Such transactions are subject to a fixed fee of 2% up to $10 per transaction. Depending on the underlying policies, bank fees can also be applicable.
Coinomi vs Atomic Wallet: Supported Cryptocurrencies
Coinomi currently supports more than 1,700 different cryptocurrencies, including all the major ones as well as a large number of lesser-known altcoins. Some of the notable cryptocurrencies supported by Coinomi include:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
- Ripple (XRP)
- Binance Coin (BNB)
- Cardano (ADA)
- Dogecoin (DOGE)
- Zcash (ZEC)
- Monero (XMR)
Atomic Wallet also supports over 500+ digital assets, including all the major ones as well as a number of altcoins.
Coinomi vs Atomic Wallet: Ease of Use
Coinomi is a multi-chain wallet that supports over 1,700 different cryptocurrencies, making it one of the most comprehensive wallets available. It has a simple, easy-to-use interface that allows you to easily send and receive cryptocurrencies, exchange them, and track your portfolio.
Coinomi also offers support for multiple languages and has a built-in exchange feature that allows you to easily trade between different cryptocurrencies.
Atomic Wallet is another popular multi-chain wallet that supports over 500 different cryptocurrencies. It has a simple, intuitive interface that makes it easy to manage your cryptocurrencies and make transactions. Atomic Wallet also offers a built-in exchange feature and allows you to buy cryptocurrencies with a credit card.
Additionally, it offers a range of security features to help protect your cryptocurrencies, including two-factor authentication and a 12-word recovery phrase.
Coinomi vs Atomic Wallet: Staking & Earn
In Coinomi, you can earn staking rewards by holding certain proof-of-stake (PoS) cryptocurrencies in your wallets, such as Cosmos (ATOM), Tezos (XTZ), and more.
To earn staking rewards with Coinomi your wallet must be connected to the internet as well as have a minimum amount of the staked cryptocurrency in your wallet.
Atomic Wallet also supports staking for a variety of PoS cryptocurrencies, including Cardano, Solana, Algorand, and others.
In addition, you may need to have a minimum amount of the staked cryptocurrency in your wallet in order to be eligible for staking rewards.
Coinomi vs Atomic wallet: Customer Support
Coinomi and Atomic wallet both customer support teams can be reached through their website, social media channels, or by submitting a support ticket through the support apps. Both Companies state that they aim to respond to all support requests within 24 hours.
How to buy Crypto Using Coinomi or Atomic Wallet?
To buy cryptocurrency using Coinomi or Atomic Wallet, you’ll need to follow these steps:
- Download and install Coinomi or Atomic Wallet on your device.
- Create a new wallet or restore an existing one using your seed phrase.
- Add a cryptocurrency of your choice to your wallet. You can do this by clicking on the “Add Coins” or “Add Assets” buttons, depending on the wallet you are using.
- Once you have added a cryptocurrency to your wallet, you can proceed to buy it using the in-built DEX (decentralized exchange) feature.
- To buy cryptocurrency using the DEX feature, click on the “Exchange” or “DEX” button in your wallet.
- Select the cryptocurrency that you want to buy and the currency that you want to use to pay for it. You’ll see the current exchange rate and the fees associated with the transaction.
- Enter the amount of cryptocurrency that you want to buy and confirm the transaction.
- Wait for the transaction to be processed and the cryptocurrency to be credited to your wallet.
Conclusion
In conclusion, both Coinomi and Atomic Wallet are popular cryptocurrency wallets that offer a range of features and benefits. Coinomi is a well-established, user-friendly wallet that supports a wide variety of cryptocurrencies and has a strong emphasis on privacy.
Atomic Wallet, on the other hand, is a newer wallet that offers a decentralized exchange and the ability to buy and sell cryptocurrencies directly within the wallet.
Both wallets have their own unique strengths and it ultimately comes down to personal preference as to which one is the best fit for an individual’s needs.
Ultimately, it’s important to carefully research and compares different wallets to determine which one is the best fit for your specific needs and goals when it comes to managing your cryptocurrencies.
Related FAQs
What is a cryptocurrency Wallet?
A cryptocurrency wallet is a software program that stores private and public keys and interacts with various blockchains to enable users to send and receive digital currency and monitor their balance. If you want to use Bitcoin or any other cryptocurrency, you will need to have a digital wallet.
Cryptocurrency wallets come in different forms, including desktop, mobile, online, hardware, and paper wallets. Each type of wallet has its own set of pros and cons, so it’s important to choose the right one for your needs.
Is Coinomi or Atomic Wallet more secure?
Both Coinomi and Atomic Wallet prioritize security and offer several security features to protect users’ funds. Coinomi uses a Hierarchical Deterministic (HD) wallet structure, which allows users to generate a new, unique address for each transaction. Atomic Wallet also uses an HD structure and offers additional security features such as private key ownership and support for hardware wallets. It’s important for users to remember to always follow best practices for securing their cryptocurrency, such as enabling two-factor authentication and keeping their software up to date.
Is Coinomi or Atomic Wallet better for beginners?
Both Coinomi and Atomic Wallet are suitable for beginners, but Coinomi may be more user-friendly due to its simple interface and built-in exchange feature. Atomic Wallet has a more advanced interface with more advanced features, which may be more suitable for experienced cryptocurrency users.
