Since I got involved into cryptocurrencies I have been asked quite a lot of times how can someone store their coins on their smartphone or what is the best Android wallet. I’m here to present you my favorite Android and soon getting released for IPhone multi-wallet.
Coinomi is a multi wallet that features most of the major crypto coins out there with continuous updates that add more coins and features. You have ultimate control over your coins and no one can move them except you since you have full authority over your private keys. (A private key in the context of a coin is a secret number that allows your coins to be spent.)
A very nice feature that not many wallets provide is the instant exchange option to another coin through Shapeshift.
After downloading the wallet application through Play Store you will be given a generated long passphrase which you must write down and keep it safe. This passphrase will be used in the future in case you need to recover your wallet on another device. After saving the passphrase then you are ready to go. You can start creating your preferred wallet addresses and start receiving or sending coins.
Transparency if a factor that helps building trust between the user and the developer that’s why the source code of the wallet can be found here. Another good feature is that it doesn’t require any download of blockchains making it very easy to run on low spec devices.
You can set your own fees in the preferences and you can also empty your wallet with one click.
If you are searching for a light weight multi-currency wallet then this one is for you.