Is Coinomi Wallet SAFE? Is It Truly An Open Source Code? #Review

in coinomi •  last year

I believe it is. Coinomi has been around the crypto circle for a while and is probably one of the most trusted and used wallet. It’s a multi coin wallet with a very good support interface.

There has been some policy shifts from the Coinomi team. Initially, the Coinomi wallet used to be an open source code but then some changes were made into their CC. Hence, does not qualify the true meaning of Open Source anymore.

A lot of user were pissed off with this move from the team and had some concerns regarding the issue. You can click here to read about what users complained and here.

George Kimionis the Founder and CEO of Coinomi doesn’t agree to any of that. In response to a thread he said;

We do what we have to do to protect our users and our brand. Coinomi is a free wallet and its source code is open for everyone to review, but if you're asking us to allow just about anyone to create malicious clones of our wallet and steal users' funds and give up all rights to go after these scammers and their works then no, it's not going to happen. On top of that, I would strongly recommend you to be very careful when making unsubstantiated accusations in public such as that Coinomi Wallet "is no longer free" and that it was governed by a "fishy" license, as these could imply direct defamation of our firm.

I guess, I should leave that up to you to decide.

There are nothing much other than the open source issue that you should be concerned about. Coinomi has delivered so far. I would say, yes it’s safe.

While surfing the web for support material to this answer I found;

Probably one of the disadvantages of open source. Someone could just come and take all your credit of years. God! knows how many restless nights it took for Satoshi Nakamoto to build Bitcoin protocol from scratch but it probably took 20–30 seconds for Charlie Lee to fork it.

But then again, it is open source so that anyone can fork it or access it.

For more about android wallets READ HERE.


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nice broo