Coinomi Review: Is Coinomi Wallet Safe and Worth Using?

Coinomi Overview

Introduction

Coinomi is one of the oldest cryptocurrency wallets, launched on Android in 2014 and later expanded to iOS and desktop. It was founded by George Kimionis with the goal of creating a secure, all-in-one crypto wallet. Coinomi’s main appeal is its massive coin support: it natively handles hundreds of blockchain assets (currently 50+ chains and 10,000+ tokens). By design, Coinomi stores all private keys on the user’s device (a non-custodial model) and encrypts them with a password. There are no accounts or KYC – you simply install the app and get a 24-word recovery phrase. Over the years, Coinomi added features like integrated exchange partners (Changelly, ShapeShift) and even cold staking, touting a “solid track record” since 2014. However, its move to closed-source code has drawn criticism for reducing transparency. This review will analyze Coinomi’s safety, features, user sentiment, and how it compares to other wallets.

Is Coinomi Safe?

Coinomi’s architecture is generally considered secure for a software wallet. All private keys and the backup seed are generated and stored locally on your phone or PC. The app uses strong encryption – “private keys never leave your device” according to Coinomi’s site. You must set an in-app password for transactions and wallet access, and you have the option of adding a BIP39 passphrase (an extra 25th word) for added protection. Coinomi itself notes that “not a single user has lost funds due to our software”, and its official channels confirm “Coinomi has never been hacked”.

The key point is that Coinomi is non-custodial: it never holds your coins, so there is no central point of failure. As long as your own device is secure (no malware, up-to-date OS, no root/jailbreak) and you protect your 24-word seed, your funds remain under your control. In fact, Coinomi’s team explains that even if a phone is stolen, wiping or revoking the device will secure the wallet as long as the seed isn’t exposed.

That said, software wallets inherently carry more risk than offline hardware wallets. As one user notes, “nothing is 100%, but a hardware wallet” is safer for holding crypto long-term. Coinomi’s security record is strong (aside from the 2019 desktop bug). In summary, Coinomi itself is built securely, but ultimate safety depends on users properly securing their device and seed.

Regulatory Compliance

Coinomi operates globally as a Swiss-based (Geneva) wallet provider, but its compliance requirements are minimal due to its non-custodial model. Coinomi does not act as a bank or exchange; it simply provides software for users to control their own keys. According to crypto legal experts, non-custodial wallet services generally do not require special licenses or AML/KYC registration because they do not custody user funds. Indeed, Coinomi advertises “no KYC bureaucracy” and requires no user accounts, emails, or personal data. In practice, this means Coinomi itself does not enforce KYC/AML rules – users can download and use the wallet without any identity checks.

The only compliance factors arise when using Coinomi’s optional fiat on-ramps or exchange partners. For example, Coinomi’s “Buy Crypto” feature uses third-party services (like Simplex) which do perform KYC on card purchases. Those partners have their own country restrictions (e.g. Simplex often excludes the U.S.). But these are external; Coinomi merely redirects to them. As a standalone wallet, Coinomi is not regulated like an exchange. However, its Swiss corporate entity must comply with general laws (data privacy, etc.). Coinomi states it is GDPR-compliant and logs no IPs or personal info on its servers.

In short, from a user’s perspective Coinomi is effectively “license-free”: you are free to hold and send crypto without additional KYC controls. It does mean Coinomi can market high privacy. The trade-off is that if governments eventually require wallet registration, Coinomi’s model would fall outside such rules – beneficial for privacy, but possibly concerning for regulators. For now, users should understand that Coinomi’s non-custodial setup exempts them from usual crypto-asset regulations (aside from paying taxes on gains).

Security Features

Coinomi offers multiple layers of security within the app. First and foremost, private keys and seeds never leave your device. The wallet code encrypts all keys with your password, ensuring that only you (with the correct password) can sign transactions. When you create a wallet, Coinomi generates a 24-word BIP44 seed phrase; this is your one-time backup for all wallets in the app. As Coinomi notes, even if the app were deleted, reinstalling and entering your seed (and passphrase, if used) fully recovers access.

For enhanced security, Coinomi supports a BIP39 passphrase (an optional “25th word”) that you can set after wallet creation. This means even if someone got your 24-word seed, they would also need the passphrase to access funds – an extra defence (though users must remember not to store the passphrase with the seed). Coinomi also enforces a strong transaction password and provides app-level locking. Mobile users can enable a screen lock (PIN/biometrics) and even disable screenshots, so balances can be hidden or protected from prying eyes.

On the network side, Coinomi supports native SegWit addresses and lets you choose low/medium/high fees for each transaction. This is mainly about efficiency (faster confirmations, lower fees) but also reduces fee-related risks.

Finally, Coinomi’s own claims bolster confidence: on their website they state the wallet has been “uncompromised since 2014” and that no user has lost funds due to a software flaw. That track record is strong, although it depends on users maintaining good practices (never sharing the seed, avoiding malware, etc.). The downside is Coinomi is closed-source, so this trust comes from history and company transparency rather than public code audits. In summary, Coinomi’s security features (local key storage, encryption, passphrase, screen lock) provide robust protection, but users must still safeguard their device and recovery phrase.

Privacy Practices

Coinomi is built for privacy by default. Crucially, no personal data is collected. You don’t create an account, link an email, or provide any identity to use Coinomi. All wallet generation and transactions happen offline on your device. Coinomi’s servers do not log user data or IP addresses, and the support logs contain no transaction or identity details. In fact, when you send a transaction, Coinomi relays it through its own servers: the blockchain sees a Coinomi node as the origin, not your personal IP. Combined with the lack of logging, this ensures your location and usage patterns remain hidden.

The app also includes privacy-oriented features. On mobile, you can activate a screen lock or hide all balances, so even if someone has physical access to your phone they see nothing without your PIN. Coinomi blocks screenshots by default on Android to prevent malware from capturing your screen. Advanced users can even connect the wallet to their own full node (e.g. a personal ElectrumX server), so that no one (not even Coinomi) learns about the addresses you query. The wallet also randomizes output ordering and allows disabling forced SegWit change addresses to resist blockchain analysis.

In practice, Coinomi’s model means no KYC, no identity tracking, no IP tracking. This is confirmed by Coinomi’s support: “Coinomi will never ask for or need your real name while providing support”. The only slight caveat is that built-in swap or buy features do interact with exchanges; however, those are optional. For pure wallet use, your privacy is preserved. Coinomi emphasizes that anything external requesting your phrase or payment is a scam, highlighting that your recovery phrase is the only thing tying you to funds – and it never leaves your control. Overall, Coinomi offers excellent privacy: its architecture and policies ensure user anonymity by design.

Reputation and User Feedback

Trustpilot and Community Reviews

Coinomi enjoys a generally positive reputation. On Trustpilot it has 847 reviews and a 4.5/5 score (Excellent). About 86% of users give it 5 stars, and many praise its functionality. For example, reviewers say they’ve used Coinomi for years without issues and that it handles many currencies “easy and safe”. According to the 99Bitcoins review, Reddit posts report Coinomi support to be “very responsive,” and “none of their phone-based wallets have been hacked”. Most online reviews (including on crypto forums) echo this, giving Coinomi 4–5 stars for ease-of-use and feature set.

Coinomi also engages with the community. The team replies to all negative Trustpilot reviews (100% response rate), often apologizing and seeking resolution. On social media (Twitter, Telegram, Reddit), Coinomi has an official presence for announcements and 

Common Complaints and Praise

Users repeatedly cite Coinomi’s ease-of-use and broad coin support as strong points. Many appreciate the privacy stance (no KYC) and the fact that the wallet “just works” without extra fuss. Other praised features include the in-wallet exchange (no need to move funds) and the 24/7 chat 

On the downside, a small minority report problems. A few 1-star Trustpilot reviewers mention lost funds or poor resolution (“estafaron 542 USD en BTC hace 3 años… no pueden ver los logs”). While details are scarce, it suggests cases of user error or external hacks being blamed on Coinomi. There have also been isolated Reddit reports of thefts, but Coinomi’s team has clarified that all transactions should be on-chain (they “have no access to wallets or coins”). In general, the main criticisms are that Coinomi is no longer open-source (transparency concern) and that support requests can take time (some users waited weeks). Coinomi emphasizes that scammers impersonating support are common, and advises users never to share recovery phrases.

In summary, the community sentiment is mainly positive: users enjoy the features and privacy, and recognize it as a reliable wallet. Praise focuses on its stability and convenience, while complaints are mostly about peripheral issues (support speed, phishing awareness) rather than core functionality.

Supported Cryptocurrencies

Major Cryptocurrencies

Coinomi covers all the big names. It natively supports Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), XRP, Bitcoin Cash (BCH), and many more major coins. Privacy- and security-focused coins like Monero (XMR) and Zcash (ZEC) are also supported. Stablecoins like Tether (USDT) and USDC are included. In total, Coinomi lists 1770+ crypto assets across 125+ blockchains. You can also add ERC-20 or BEP2 tokens manually if needed (custom token support). A full list is on their site, but essentially any well-known coin is covered.

Blockchain Networks

Technically, Coinomi supports coins on 50+ blockchains. This includes not just Bitcoin and Ethereum, but newer networks like Binance Smart Chain, Tron, EOS, NEO, Solana, Polkadot, and others through forks or sidechains. (Coinomi continues adding chains – for example, recent updates brought in Solana integration.) Because it runs a full node for each supported asset, Coinomi requires minimal network fees and confirms transactions directly. According to third-party reviewers, Coinomi even claims “the largest number of blockchains” for any non-custodial wallet.

The takeaway is broad coverage: if a crypto is popular and recognized, Coinomi likely supports it. Users benefit from not having to juggle different wallets for different coins. The only limitation might be very new or obscure chains that Coinomi has not yet added, but the user can often still add custom tokens in such cases.

Coinomi’s mobile app interface, illustrating its multi-asset wallet menus and navigation (image: Coinomi).

Coinomi Features and Services

Core Wallet Functionality

At its core, Coinomi is a hierarchical-deterministic (HD) wallet: all your wallets derive from a single 24-word seed. This means you only need one backup phrase for everything. Private keys for each asset are generated on your device and encrypted – they never pass through Coinomi’s servers. The app interface lets you send and receive crypto easily. To receive, just tap the desired coin and press “Receive” – the address (or QR code) is shown for copying. To send, tap “Send,” paste or scan the recipient’s address, enter the amount, and confirm (choosing a fee level). Transactions are signed locally using your private keys, so only the signed transaction data leaves your device.

Coinomi’s wallet also has settings for custom fees and transaction labels. For example, it supports Bitcoin’s SegWit (bech32) format to save fees. Dynamic fee estimation is on by default, but advanced users can manually set any fee. The wallet tracks all balances and history on the device; uninstalling simply deletes the data (re-install with your seed and passwords to restore everything).

Advanced Features

Beyond the basics, Coinomi offers several advanced tools. It has built-in crypto exchanges: via Changelly/ShapeShift integrations, you can swap one asset for another without leaving the app. Because the coins never leave your wallet during the swap, it maintains privacy and saves time/fees compared to using a separate exchange. Coinomi also lets you buy crypto with a credit card through partners (like Simplex), though that feature redirects to the partner site and is subject to their fees.

For earning potential, Coinomi supports cold staking: you can stake eligible coins (like Tezos, Cosmos, etc.) directly from the wallet to earn rewards, even when the app is offline. The app also includes an integrated DApp browser and Web3 wallet mode, allowing you to access decentralized applications (DeFi, NFT, etc.) from within the wallet. Full UTXO control is available too: you can designate change addresses to avoid linking your spend patterns, and even mark small outputs as “Do Not Spend” to protect against dusting attacks.

Finally, Coinomi provides robust management features: you can import multiple wallets, each with its own seed or password (multi-seed support). The wallet has no built-in trading/interest accounts – it doesn’t lend your funds out – so all balances are fully yours. 24/7 customer support chat is also integrated, accessible right in the app, which is uncommon for a free wallet. In summary, Coinomi’s features go well beyond simple storage, offering a complete toolkit for diverse crypto users.

Coinomi Fees

Overview: Coinomi itself is free to download and use. It charges no platform fees – you never pay a commission to Coinomi for storing or transferring crypto. The only fees you pay are the underlying blockchain (miner) fees for each transaction. In other words, if you send Bitcoin, you pay the BTC network fee; if you send Ethereum, you pay ETH gas, etc. Coinomi may recommend a low/medium/high fee but leaves the final choice to you.

Transaction Fees: When sending crypto, the app will usually estimate a recommended fee. You can stick with the suggested “dynamic fee” for a reasonable confirmation time. If you want faster confirmation, you can opt for “high”; if you’re not in a rush, choose “low.” These fees go to network validators/miners only. Coinomi does not add any extra “wallet fee” on top of the blockchain fee. Likewise, receiving crypto is free – you just pay any applicable deposit fee of the sender (which is outside your control). In short, there are no hidden fees in transactions: whatever your chosen fee level, it all goes to the network, not to Coinomi.

Other Fees: There are a few situations involving external fees. If you use the built-in exchange (Shapeshift/Changelly), those services charge their own conversion fee (typically a percentage) which is displayed at the time of swap. If you use the “Buy Crypto with Card” feature, the payment processor (e.g. Simplex) charges a fee (usually 2–5%). Coinomi also notes that there are no withdrawal or maintenance fees – you never pay Coinomi an extra charge just for holding or moving coins. Overall, aside from standard network or partner fees, Coinomi is essentially fee-free.

Customer Support

Support Channels: Coinomi provides multiple support options. There is a comprehensive knowledge base and FAQ on their official site, covering setup and troubleshooting. For direct help, the app includes a live chat feature that is advertised as 24/7. This lets you ask questions in real time. Alternatively, you can open a support ticket through their portal (Freshdesk) and track its status. Coinomi’s team is also active on social platforms: they post updates on Twitter, moderate a Telegram channel, and have a Facebook page for announcements. These community channels can be useful for quick tips or to verify news.

Educational Resources: Beyond support tickets, Coinomi offers plenty of guides. Their help center has articles on everything from “Getting Started” to advanced tips (seed backup, adding coins). Many how-to videos and tutorials exist online (official and user-made) that walk through the setup process. The developers emphasize security education – for example, they publish warnings on how to spot phishing scams (reminding users they will never ask for your recovery phrase). For learning about fees or SegWit addresses, Coinomi’s support links to detailed explainers. All in all, resources are ample for both beginners (step-by-step setup) and advanced users (privacy options, custom tokens).

How to Use Coinomi : Step-by-Step Guide

1. Download & Install: Get the app from  or the official app stores (Apple App Store or Google Play). Avoid third-party sites to reduce scam risk. 
2. Create or Restore Wallet: Open Coinomi and choose “Create a New Wallet” (or “Restore Wallet” if you have an existing seed). Slide through the security screens and select a password/PIN when prompted. 
3. Save Your Seed Phrase: The app will display a 24-word recovery phrase. Copy it by hand on paper, and store it offline (never as a screenshot or file). Coinomi will ask you to verify it by re-entering some words. This seed is the ONLY backup to recover your funds. 
4. Add Cryptocurrencies: Initially, Coinomi lets you pick which coins to enable. After setup, tap the big “+” (plus) button to “Add Coins”. Check each cryptocurrency you want (you can always add more later). After selecting, enter your password to authorize; the new coins will appear in your wallet list. 
5. Receive Funds: To receive crypto, tap the desired coin on your home screen, then tap “Receive.” Your wallet address (and QR code) will display. Copy this address and share it with the sender. (Double-check that you use the correct coin’s address; cross-chain mistakes can lose funds.) 
6. Send Funds: To send crypto, tap the coin you’re sending from, then tap “Send.” Paste or scan the recipient’s address, enter the amount, and continue. On the next screen, verify the details and choose your transaction fee level. Confirm to broadcast the transaction. The network will process it, and you’ll see it in your history when confirmed. 
7. Backup Again (Important): After setup, you can go to Settings → Backup to see your seed phrase again and ensure it’s stored. Treat the seed as you would cash – losing it means losing access. If you ever lose your device, simply reinstall Coinomi on a new device and use “Restore Wallet” with that same seed. 

Follow these steps carefully, and you’ll be able to manage your cryptocurrencies securely with Coinomi.

Who Is Coinomi Best For?

Coinomi is ideal for users who want a flexible, privacy-conscious wallet that supports many assets. It works well for beginners (thanks to its intuitive interface and built-in guides) and intermediate traders who swap between coins without using exchanges. If you value anonymity and want full control over your private keys (with no KYC or accounts), Coinomi is a strong choice. The broad language support and cross-device apps make it suitable for global users and non-English speakers. It’s also good for users who want to try crypto staking or in-app swaps without extra complexity.

Coinomi may be less suitable for institutional or custodial scenarios. It lacks features like multi-signature wallets or fiat onramps with built-in compliance. If you require fully open-source software, Coinomi’s closed code might be a concern. Likewise, if you prefer hardware wallet integration for maximal security, Coinomi’s pure software approach means it’s not your best match. In general, Coinomi is best for individuals who are comfortable self-custodying their coins and want convenience and privacy over additional third-party oversight.

Final Verdict

Coinomi remains a popular and reliable crypto wallet in 2025. It stands out for supporting an enormous range of coins and tokens (50+ chains, 10k+ assets) while keeping user privacy front and center. Our research confirms that its core security – local key storage with encryption – is robust, and no major losses have been attributed to wallet flaws. The in-app exchange features and staking options add real value without sacrificing simplicity.

On the downside, users must trust the company since the software is not open-source. We also note occasional user complaints (stolen funds or slow support) but these seem rare relative to Coinomi’s large user base. Importantly, Coinomi itself addresses security and phishing publicly, and the community feedback is overwhelmingly positive.

In summary, Coinomi is a safe and versatile choice for most cryptocurrency users in 2025 – especially if you need a user-friendly multi-coin wallet with strong privacy. As always with self-custody, you must follow best practices: secure your device, back up your seed, and be vigilant against scams. For those who do, Coinomi provides a feature-rich wallet that balances ease-of-use with high security.

Frequently Asked Questions

1. Is Coinomi safe to use?
Yes. Coinomi is a non-custodial wallet: your private keys never leave your device and are AES-encrypted. The wallet has never been hacked or lost user funds in its mobile versions. However, you must keep your phone/computer and 24-word seed secure. (Coinomi advises that it will never ask for your seed.)

2. How do I get started with Coinomi?
Download the official app (from  or your app store) and open it. Choose “Create Wallet” and follow the prompts. Write down the 24-word recovery phrase and store it safely offline. Set a strong password. Then select which coins to add (you can add more later via the “+” button). That’s it – your Coinomi wallet is ready! You can now send, receive, and swap crypto directly from the app. Always back up your seed and test with a small transaction first to ensure everything is working correctly.