Atomic Wallet vs Coinomi | Why Neither Wallet Is Good Today
Jack Moreau
Mar 2024
9 min read
Fact checked
Introduction: When it comes to safeguarding your digital assets, selecting the perfect cryptocurrency wallet is paramount. We have meticulously assessed the offerings of Atomic Wallet vs Coinomi by examining factors like support for different blockchains and cryptocurrencies, features, compatibility with hardware wallets, and security measures!
Atomic Wallet is a decentralized multi-asset wallet that was founded in 2017 by Konstantin Gladych, the former CTO of Changelly. Based in Tallinn, Estonia, Atomic Wallet has 35 employees around the world.
Atomic Wallet Website
One of the key features of Atomic Wallet is that it is a free-to-use non-custodial wallet, which means that users have full control over their funds without a third party acting as an intermediary.
This also means that there is no Know Your Customer (KYC) process, and each account is anonymous and accessible only by the user who controls the seed phrase.
Atomic Wallet is available on both desktop and mobile platforms. On desktop, it is compatible with Windows, Mac, and Linux operating systems. On mobile, it is available for both iOS and Android devices.
Atomic Wallet Desktop
The wallet offers various features such as staking, exchange services, and a cashback feature linked to their native AWC token. Atomic Wallet has over 1 million downloads across Android and iOS with a highly-rated 4.4 rating from over 70,000 reviews.
It supports the storage, management, and exchange of over 300 coins and tokens including popular cryptocurrencies like Bitcoin, Ethereum, and Solana. With 5 million users worldwide, Atomic Wallet is highly trusted, earning an excellent 4.4 rating on Trustpilot with over 13,000 reviews.
Atomic Wallet Cryptocurrencies
Coinomi Wallet, on the other hand, was founded in 2014 by George Kimionis. With its headquarters in Cyprus, Coinomi has a small team of 20 people. Initially focused on being a mobile wallet for Android, Coinomi has expanded its offering to include iOS and desktop versions.
Coinomi Desktop Wallet
As a multi-coin wallet, Coinomi supports over 1,770 cryptocurrencies, making it one of the wallets with the widest range of supported blockchains in the non-custodial wallet industry.
Coinomi Wallet Cryptocurrencies
Currently, Coinomi has over 1 million users worldwide across its mobile and desktop versions.
The mobile app has received strong reviews with a 4.6-star rating based on over 42,000 reviews on Android. However, Coinomi Wallet is still not available as a browser wallet, which could be a downside for some users.
Coinomi Wallet App
Atomic Wallet vs Coinoimi User Experience
Atomic Wallet is a user-friendly wallet designed with a simple interface that is perfect for beginners. It offers a straightforward and easy-to-use experience.
One of the major advantages of Atomic Wallet is that it is non-custodial, which means that users have full control over their private keys, providing better security for their crypto assets.
However, there have been some security issues with the wallet in the past, which is a drawback. Another limitation is that it does not currently support browser extensions.
Atomic Wallet Platforms
When it comes to compatibility, Atomic Wallet is available for download on various operating systems, including Windows, MacOS, and Linux. It is also available on Android and iOS devices, where it has received solid reviews with over 4.5 stars.
Atomic Wallet Buy Crypto With Card
Both the mobile and desktop versions of the wallet offer the same functionality, allowing users to exchange tokens, buy cryptocurrencies with cards, display NFTs, and stake a selection of blockchains.
Atomic Wallet Buy Crypto Credit Card
Moving on to Coinomi, this wallet falls short in terms of innovation and features compared to other wallets. The user experience is quite stale, and the design of both the wallet and website is outdated.
Coinomi Wallet Supported Platforms
Coinomi does not even offer support for popular cryptocurrencies such as Solana, Cosmos, Polkadot, and Cardano, which highlights the lack of development and versatility of the platform.
In summary, Atomic Wallet offers a user-friendly and straightforward experience, with the advantage of being non-custodial. It is compatible with various operating systems and devices, providing flexibility to users.
On the other hand, Coinomi lags behind in terms of innovation and support for popular cryptocurrencies, making it a less competitive option in today's market.
Atomic Wallet vs Coinoimi Features
When comparing the Atomic Wallet with Coinomi, there are several key factors to consider. Let's start with the Atomic Wallet. The Atomic Wallet offers a convenient in-app DEX, allowing users to easily swap their assets using the Binance Dex. This makes exchanging assets quick and hassle-free.
Atomic Wallet Swap
However, users should be aware that there is a 0.5% swap fee, along with additional commissions from exchange partners. It's worth noting that the Atomic Wallet is only partially open-sourced, which may be a drawback for those who prioritize transparency.
Atomic Wallet Swap _ Cashback
On the bright side, the Atomic Wallet supports NFTs from a range of blockchains, including Solana, Ethereum, BSC, Avalanche, and Polygon. This is great news for NFT enthusiasts who want to explore different blockchain ecosystems.
Additionally, the Atomic Wallet provides staking rewards for over 20 assets, including popular ones like Cardano, BNB, Solana, Tezos, Atom, Injective, and Osmosis.
This feature allows users to earn passive income on their digital assets. For those looking to buy crypto directly with fiat currency, the Atomic Wallet offers support via a simplex third-party integration.
Atomic Wallet Staking
This means users can easily purchase cryptocurrencies using their traditional currency right within the wallet interface. It's a convenient feature for users who want to bridge the gap between crypto and traditional finance.
Now let's move on to Coinomi. Coinomi Wallet offers a more limited range of products and services compared to the Atomic Wallet. However, it still provides some essential features expected from a crypto wallet.
Coinomi Wallet Buy Crypto With Fiat
Similar to other non-custodial wallets, Coinomi allows users to swap between their assets via their own exchange. This can be convenient for users who want to quickly exchange their cryptocurrencies.
Coinomi Wallet Features
However, it's important to note that swap fees via non-custodial wallets tend to be higher compared to centralized exchanges. Coinomi wallet also supports access to decentralized finance (DeFi) through its integrated DApp browser and Web3 support.
Coinomi Support
This means users can easily interact with DeFi applications directly from the wallet, without compromising security.
One downside of Coinomi is the lack of support for NFTs. This may be disappointing for users who are interested in the NFT market and want to store and manage their NFT collections in their wallet.
For users who want to earn yield on their digital assets, Coinomi only supports staking for Algorand and SmartCash. This may limit the options for users seeking to earn passive income.
Atomic Wallet boasts a non-custodial design, which means that users' private keys remain stored on their personal devices.
This decentralized storage approach offers robust resistance to potential cyber-attacks by spreading assets across millions of devices rather than a central repository.
Atomic Wallet Security
However, this also means that the responsibility of safeguarding assets lies squarely with the user. Users must securely store their password and the critical 12-word mnemonic seed phrase to prevent unauthorized access and potential loss of funds.
While Atomic Wallet has never been compromised, security vulnerabilities identified by a third-party audit firm raised concerns. The wallet's CEO reassured users that the flagged issues posed no direct threats and announced plans to address the remaining concerns by Q2 2022.
On the other hand, Coinomi also functions as a non-custodial wallet with private keys stored locally on the user's device. This means that cryptocurrencies are decentralized across millions of devices, making it harder for hackers to attack.
Coinomi Wallet Security
However, it also means that users must safeguard their own assets by keeping their password and seed phrase safe. Coinomi does not support synching with hardware wallets like Ledger or Trezor and lacks comprehensive security audits or bug bounties.
In summary, both Atomic Wallet and Coinomi offer non-custodial wallet solutions that prioritize user control over private keys. Atomic Wallet provides enhanced security through its decentralized storage approach and has plans to address identified security vulnerabilities.
Coinomi offers decentralization and anonymity but lacks some advanced security features and comprehensive security audits. It is crucial for users of both wallets to exercise responsible behavior and take necessary steps to safeguard their assets.
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.
