There are various wallets that dispose of an array of cryptocurrencies to invest in. Choosing the right sort of wallet is extremely crucial in such matters. Not only is it a guarantee of a flawless transaction but an assured warranty against any fraudulent activity. There are various such wallets depending on its impending features available for investing.
Two top-level wallets that are considered to be absolute favorites among the crypto circuits are those of Coinomi and Exodus. While the basic functionalities are similar, what sets them apart are the intricate yet significant services that they have at disposal. If we are to make a comparative understanding of the same, then the following can be chalked out-
- Coinomi is a mobile supported application. This makes it very much resistant to any sort of ethical breach like hacking. Exodus, on the contrary, is a desktop application. Due to the nature of the desktop being less more personalized, there is a wide chance of anomalies.
- Coinomi has a built-in exchange for fast and easy trading. This means that all sort of buying or selling can be done via one single app and does not require additional assistance on this matter. Exodus boasts off its huge collection of currency. Its shot to fame is because of the massive user-friendly interface. The added advantage also being that the whole blockchain doesn’t have to be downloaded again on the computer.
- Coinomi’s biggest pro is its zero fees which Exodus does charge. Depending on the asset type that is dealt with, there is an incurring cost. This can typically range between 2-3%.
- Both the wallets, however, have no private keys of their own. There is complete privacy on the individual who chooses to trade via these wallets.
- Coinomi hits a big stroke with its 24X7 customer support which Exodus lacks. This customer support service is extremely necessary especially for fairly new trading and investment practice like that of investing in cryptocurrency.
- Coinomi also has SegWit support so a range of coins to deal with and transactions to indulge in. Exodus does not have that support and usually has a hard time with seed backup as well.
- Both of them are not open source. It may leave the system attackable. However, the security plugged has proven to be fruitful until now.
Exodus is quite useful with its feature of encryption for private keys of the wallet.