Coinomi is a well-known wallet in the cryptographic space which is available for both PC (linux, mac and windows) and mobile devices, it is a fairly secure wallet and there is no data that it has ever been hacked, the wallet accepts hundreds of cryptocurrencies and almost all the most famous ones are available there and it is in more than 25 languages, it has no additional fees and only charges the network fee, do you use Coinomi Wallet?
Coinomi wallet
- Thread starter riberet19
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- #3
I see, but I do not understand what you mean by the fact that users have lost a value of 60,000 dollars in coinomi, can you explain this better to know what it means?
Even though this incident is a long time ago 2019, but I read from Twitter, a user named Warith Al Maawali, said that the password on the Coinomi wallet had been hacked, causing him to lose $60K worth of crypto.
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- #5
I understand thanks for the clarification, I thought you had lost such an amount, and yes, ultimately no wallet is 100% safe, so it is better not to have much money in a single wallet and have more than one to be diversified.
In fact, the Coinomi wallet is a user-friendly crypto wallet that is perfect for beginners, is very secure and has an 18-word recovery phrase, and supports multiple blockchains to store your tokens. Coinomi is also available for Desktop and mobile.
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- #9
You have left a very important fact and it is the length of the seed phrase of Coinomi, which although it seems somewhat irrelevant, but it is not so, since it makes it safer than those that only have 12 words for example
I feel it is more stressful instead of saying that it is safer. The fact that those ones have twelve words as their seed phrase does not mean that anyone can just access them anyhow since they did not tell another person the phrase
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- #11
A longer seed phrase becomes more difficult to get because it is encrypted and there is more data to get, an 8-character password is not the same as a 64-character one that with a force majeure attack becomes practically impossible to get, that's why the Ledger have 24 words in the seed phrase, you can't say that doesn't matter because it does, if you reveal your seed phrase that's something else, and it's your fault, nothing more.
Exactly
What if you forget the seed phrase or something happens to it? I prefer twelve word seed phrase. I just feel it is the best instead of making it longer. There is no point on making the seed phrase long
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- #13
I think you have not understood what I said, if the seed phrase is bigger it is more difficult to hack and break the encryption in case of an attack, on the other hand if you forget the seed phrase that is a matter of self-management and security, you should always write your seed phrase on paper, less than that.