MetaMask vs Coinoimi | Is Either Wallet Worth Using Today?
Jack Moreau
Feb 2024
8 min read
Fact checked
Introduction: Securing your valuable digital assets is of utmost importance. That's why we compared MetaMask vs Coinomi wallet and dove into vital aspects such as supported blockchains and cryptocurrencies, noteworthy features, hardware wallet compatibility, security measures, and so much more!
MetaMask and Coinomi are both popular multi-coin wallets that provide users with a secure and user-friendly way to store, manage, and exchange a wide range of cryptocurrencies. While they have some similarities, there are also notable differences between the two.
MetaMask website
MetaMask, released in 2016 by ConsenSys, is the most popular non-custodial software wallet in the world, boasting over 30 million monthly active users. With its success, its parent company ConsenSys has raised over $450 million in venture capital to support the growth of its products.
MetaMask allows users to store, send, and receive ETH and other ERC20 tokens, while also seamlessly interacting with Dapps from their browser. It is available as a mobile app on Android and iOS, as well as a browser extension.
The browser extension is supported on various browsers including Google Chrome, Brave, Firefox, Edge, Safari, and Opera. The mobile app has already amassed over 10 million downloads with a stellar 4.7 rating based on 250,000 reviews.
MetaMask app
Coinomi was founded in 2014 by George Kimionis with the mission of making digital assets more accessible. The wallet initially focused on being a mobile wallet for Android, but eventually expanded to include iOS and desktop versions.
Coinomi Website
Coinomi is known for its wide-ranging support for over 125 blockchains, making it one of the leading multi-chain wallets in the non-custodial wallet industry. The wallet provides a secure, private, and simple way to store, manage, and exchange over 1,770 cryptocurrencies.
However, one downside is that Coinomi is still not available as a browser wallet. The wallet is estimated to have over 1 million users worldwide, utilizing both the mobile and desktop versions.
On Android, Coinomi has received strong reviews with a 4.6-star rating based on over 42,000 reviews.While both MetaMask and Coinomi offer comprehensive support for various digital assets, MetaMask has a larger user base and a more extensive range of supported blockchains.
Coinomi app
Additionally, MetaMask's availability as a browser extension on multiple browsers gives users more flexibility in accessing their wallets.
metamask supported browsers
Coinomi, on the other hand, excels in its support for a wide range of blockchains and its emphasis on making digital assets accessible to a broader audience.In conclusion, both MetaMask and Coinomi are reliable options for users looking to securely manage their cryptocurrency holdings.
MetaMask vs Coinoimi User Experience
MetaMask and Coinomi are two popular cryptocurrency wallets, each with their own unique features and user experiences. Let's take a closer look at each wallet to see how they compare.
MetaMask is a widely-used and highly-regarded wallet in the cryptocurrency space. Getting started with MetaMask is easy and straightforward. Users simply need to download the mobile or browser wallet, create or import a wallet, and set a password.
MetaMask Support
With a user-friendly interface, MetaMask offers a smooth user experience, with recent updates improving its usability and design. The browser wallet now includes a portfolio view, making it easier for users to access all the features at their fingertips.
metamask portfolio view
Plus, MetaMask integrates many more features within the wallet itself, allowing users to execute lending, trading, buying, and more right within the app. This convenience is a significant draw for users seeking a seamless experience.
metamask bridging
On the other hand, Coinomi wallet has some limitations that may deter certain users. One downside of Coinomi is that it lacks innovation. The wallet's features and design have become outdated, giving it a stale user experience.
Furthermore, Coinomi does not offer support for NFTs, which is a significant drawback in an industry where NFTs are gaining popularity. Additionally, Coinomi does not support some of the most popular cryptocurrencies like Solana, Cosmos, Polkadot, and Cardano.
Coinomi Wallet Cryptocurrencies
This lack of support for up-and-coming cryptocurrencies shows that Coinomi is lagging behind other wallets with active development teams. These limitations make Coinomi less competitive in today's rapidly evolving digital wallet landscape.
Coinomi Wallet Supported Platforms
In summary, MetaMask offers a user-friendly interface, continuous improvements, and convenient in-wallet features that make it a popular choice for many cryptocurrency enthusiasts.
On the other hand, Coinomi has fallen behind in terms of innovation, lacks support for NFTs, and does not support some leading cryptocurrencies. Ultimately, your choice between MetaMask and Coinomi will depend on your specific needs and preferences.
MetaMask vs Coinoimi Features
MetaMask and Coinomi are both popular cryptocurrency wallets that offer a range of features and services to users. Let's take a closer look at each wallet and compare their key attributes.
MetaMask is a fully open-source wallet that provides users with the ability to swap tokens using data from various decentralized exchanges (DEXs) such as Uniswap, Sushiswap, and 1inch.
metamask swap
One notable feature of MetaMask is its slippage protection for large swaps, ensuring users get the best price with the lowest network fees. The wallet also supports NFTs on EVM-compatible blockchains like Ethereum and Polygon, allowing users to easily manage and transfer their NFT assets.
metamask nft
Users can even purchase cryptocurrencies using multiple payment methods, including credit/debit cards and third-party providers. MetaMask also supports hardware wallets like Ledger, Trezor, and Lattice, providing an extra layer of security for users.
MetaMask Buy Crypto Fiat
On the other hand, Coinomi Wallet offers a smaller range of products and services compared to MetaMask. The wallet allows users to swap between their assets through its own exchange, supporting thousands of assets through strategic partnerships with various DEXes.
coinomi desktop wallet
While Coinomi offers the convenience of swapping within the wallet, users should be aware that swap fees via non-custodial wallets tend to be higher compared to centralized exchanges.
Coinomi Wallet Buy Crypto With Fiat
Coinomi also provides integrated DApp browsing and Web3 support, allowing users to access decentralized finance (DeFi) applications directly from the wallet. However, it is worth noting that Coinomi does not currently support NFTs, which can be a downside for users interested in this space.
coinomi support
Additionally, Coinomi has limited options for users looking to earn yield on their digital assets, with only Algorand and SmartCash supported for staking.
In summary, MetaMask and Coinomi are both reputable wallets that offer a range of features and services to users. MetaMask stands out with its comprehensive support for token swaps, NFTs, multiple payment methods, and hardware wallet integration.
metamask hardware wallets
On the other hand, Coinomi provides users with basic swap capabilities, DApp browsing, and access to DeFi, but lacks NFT support and has limited options for staking.
coinomi wallet features
Ultimately, the choice between MetaMask and Coinomi depends on the user's specific needs and preferences.
MetaMask and Coinomi are both non-custodial wallets that prioritize the security and privacy of users' crypto assets. These wallets offer decentralized storage solutions, ensuring that private keys and transaction data are stored locally on users' devices rather than in a central repository.
Starting with MetaMask, it is known for its safe and private wallet option. When users create a new wallet, they are provided with a 12-word seed phrase and a password that they must keep safe. This seed phrase acts as a backup to recover the wallet in case of any mishaps.
MetaMask has never been hacked, but individual users have experienced fund losses due to virus assaults or phishing attacks. To mitigate these risks, MetaMask places a paramount emphasis on security in its development processes.
To ensure the robustness of its systems, MetaMask has undergone multiple security audits by renowned firms such as Cure53 and Least Authority. These audits have been conducted periodically, with reports available to the public.
Additionally, MetaMask actively engages with the security research community through its Bug Bounty Program, inviting external researchers to identify and report potential vulnerabilities. This proactive approach to security helps in maintaining the integrity of the wallet.
MetaMask also provides specialized access to authenticated test environments for blockchain security specialists and members of the DeFi community. By doing so, the wallet actively seeks to identify and mitigate potential threats before they can impact users.
metamask blockchain
MetaMask's commitment to responsible behavior further enhances its security stance, urging against any malicious actions that might jeopardize users or the project's integrity.
On the other hand, Coinomi offers the benefit of decentralized storage, with private keys stored only on users' local devices. This distributed approach makes it difficult for hackers to attack, but it also means that users bear the responsibility of safeguarding their own assets.
coinomi security
It is crucial for Coinomi users to protect their assets by creating a strong password and securely storing the 12-word mnemonic seed phrase.Coinomi Wallet has been operational for eight years without any well-known incidents of being hacked.
However, it should be noted that Coinomi is only partly open source, which means that the code is not entirely available for public inspection. Additionally, there have been no well-known security audits or bug bounties associated with Coinomi.
These factors may be a concern for users seeking a higher level of security assurance. Furthermore, Coinomi Wallet does not support syncing with hardware wallets like Ledger, Trezor, or others.
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.
