Coinomi Wallet 101 (for tech dummies)

kareninsf (27)in #coinomi • 7 years ago (edited)

Make sure you have a decent android phone! I am quite fond of the LGG5 with Android version 7.0 . This app is NOT yet available for IPHONE (I believe android is far superior to Iphone for cryptocurrency enthusiasts). I do not know if Coinomi is available to use on a desktop computer, I believe that is for more tech savvy people (so I don’t care at the moment). This is for the Android user only.

Download the Coinomi app. Be very careful, often there are fake apps out there.

Download and Install
Create your Seed. This is NOT a password. This is similar to the Electrum wallet. If you accidentally delete the Coinomi app, you can reinstall it using this SEED (often also called a Recovery Phrase). Write it down on PAPER using a PEN , and keep a copy in several safe places (such as a fireproof safe or a safe deposit box). Your seed for the Coinomi wallet is around 18 random words.

PASSWORD
Set a password to protect your wallet. Again be sure to pick a good one, and THIS guide can be helpful. I do use a password manager to help me keep track of my passwords, but they can be hacked and it can be more secure to keep your passwords on paper locked away in more than one location.

It gives you the option to set up a BIP39 passphrase, I ignored this part.

SELECT THE COINS YOU WANT TO USE WITH YOUR WALLET

Choose Bitcoin BTC and Bitcoin Cash (BCC or BCH). There are tons of alt- coins and tokens on this wallet. I also like to play around with Litecoin, Ethereum and Ethereum Classic.

Coinomi is all over social media if you have questions, and have an excellent FAQ. This wallet can do many things, I am just just showing you how to install and set up. Check out the Coinomi support homepage that answers common questions.

Here is a video that visually shows you the app on an phone.

FINISHED!!!
Now you can use your Coinomi Wallet on your android device. It has a ton of cool features. I will expand upon this blog as I learn them. Be sure to leave them a positive review!!!

Next blogs: Electrum 101 part 2 How to find your private keys to extract Bitcoin Cash and Extract BCC from Electrum using Coinomi Android App

Updated 8–3–2017 -kareninsf with consultation by Snowkeld

#bitcoin #android #crypto #paxful