Coinomi
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Coinomi is a safe and versatile cryptocurrency wallet which offers high security standards, supports hundreds of blockchains and includes various features all crypto enthusiasts and punters will learn to love.
With its user-friendly platform and strong emphasis, Coinomi can offer a secure place to store your assets and an easy way to send and receive crypto, whether from your friends and family or any online crypto betting and gambling site.
But the question remains – why is Coinomi so popular among crypto punters?
How to Set Up a Coinomi Wallet
You can set up a Coinomi wallet as you would any hot wallet, and it is as simple as downloading the app and following the instructions.
Coinomi has an app for all platforms, including for phones (iOS and Android) and for macOS, Windows and Linux. The apps are constantly being updated to ensure the highest security standards are met.
Whether you’re setting up a Coinomi wallet on your mobile or desktop, the steps are similar. It is also recommended to have the app installed on both devices to make managing your assets more accessible.
- Visit Coinomi official website
- Click on “Download” and install the app
- Open the app and select “Create a New Wallet”
- Choose the wallet encryption by moving the slider from “least secure” to “most secure” (highly recommended)
- Pick a password with at least ten characters, uppercase letters, symbols, and numbers
- Select cryptocurrencies you want to add to your wallet – you can always add more later
- Confirm the Terms and Conditions and tap “Agree”
When setting up the Coinomi wallet, don’t forget to write down your 24-word phrase and store it securely.
How to Use Coinomi for Crypto Betting
To use any crypto wallet for sports betting, the only criterias it needs to meet are security and the option to receive and send assets without any limitations. Coinomi checks both boxes.
With Coinomi, you can easily send and receive cryptocurrencies to and from any online crypto betting site, making it a solid option for all crypto punters and gamblers.
To send crypto with Coinonmi, navigate to the “Send” tab, scan the QR code on the bookmaker or input the address to which you want to send your assets. Withdrawals from crypto bookmakers follow similar steps, requiring you to input your Coinomi address on the bookmaker after deciding on which crypto and how much you want to withdraw.
To use Coinomi for sports betting withdrawals, you have to follow the same steps as with any other crypto wallet.
- Login to the crypto bookmaker you want to withdraw from
- Click on “Withdraw”
- Select the crypto you want to withdraw and the amount
- Login to Coinomi app
- Tap on the wallet you will make a deposit to
- Click on “Receive”
- Copy the address
- Past the address into the withdrawal window on the crypto sportsbook
- Confirm the withdrawal
Depositing crypto from Coinomi to a betting site is just as simple.
- Login to the crypto bookmaker you want to make a deposit on
- Pick the cryptocurrency and copy the bookmaker’s wallet address
- Open Coinomi app
- Click on the crypto you want to send
- Tap on “Send”
- Enter the amount and pick the priority level – a higher level means faster transactions and higher fees
- Complete the transaction
The withdrawal and deposit times and fees will vary depending on the crypto chosen and the network congestion.
Buy & Sell Crypto at Coinomi
Coinomi also includes a buy feature, allowing you to buy cryptocurrencies through the app. Since Coinomi doesn’t offer these services, they are done through trusted third-party providers, like all other crypto wallets that allow their users to buy assets.
To buy crypto on Coinomi:
- Open the Coinomi app
- Select one of the “Buy” options
- Pick the cryptocurrency you want to buy
- You will get redirected to one of the partner’s websites to complete the purchase
While Coinomi has integrations needed to purchase crypto, if you want to sell your assets, you must do it through an exchange. This is a simple process, as you’re only required to send the amount of crypto you want to sell on any trusted exchange and withdraw fiat from there.
FAQ
Can you use Coinomi Wallet for betting?
Yes, Coinomi is an excellent crypto wallet for online crypto betting. It is secure and has no restrictions on where you can store your assets. This, along with its support of hundreds of cryptocurrencies, makes it a solid option for all crypto punters.
Can you buy and sell crypto at Coinomi Wallet?
Coinomi does not offer the buy/sell feature on its app; however, it is possible to buy cryptocurrencies through one of many Coinomi partners. On the other side, Coinomi users will have to transfer their assets to online crypto exchanges if they wish to convert their crypto into fiat.
Is Coinomi Wallet safe?
Coinomi is considered a safe crypto wallet thanks to its strong security features. While it lacks hardware wallet integration, Coinomi can remain safe if you do not share your pin and the security phrase, making it an excellent option for all crypto enthusiasts.
