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Features Of Coinomi, MyEtherWallet, Parity Wallets

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The growing cryptocurrency adoption and creating of many tokens have led to the emergence of hundreds of specialized cryptocurrency wallets. However, not all of them are convenient to use. Some cryptowallets support limited quantity of coins, others —don't support ERC-20 tokens, the third are simply unreliable.

There is a collection of cryptocurrency wallets that support ETH and ERC-20 tokens:

Coinomi

The multicurrency wallet Coinomi, which supports more than 150 different tokens, is not the most common but quite functional service. The team of developers from Greece launched the application Coinomi for Android in 2015, and earlier this year introduced a iOs version.

Advantages: support of a wide range of digital assets. Coinomi supports lot of coins, including not only popular cryptocurrencies such as Bitcoin and Ethereum, but also little-known digital assets not supported by most wallets - for example, POA, Insanecoin or Cannacoin. In addition, the purse has a built-in ability to exchange cryptocurrency.

Coinimi has a high level of safety and confidentiality. Developers emphasize that any of Coinomi wallets for all the time of work hasn't cracked or compromised otherwise. Enough attention is paid also to confidentiality of transactions — according to statements of the Coinomi team, special methods of enciphering practically exclude an opportunity to monitor both cryptocurrency transactions, and the identity of the sender or the recipient.

Disadvantage is the lack of a desktop and web version - Coinomi is presented only as applications for mobile devices.

MyEtherWallet

One of the most popular Ethereum-service. Here you can store not only ETH, but also ERC-20 tokens. This is a desktop wallet, which means that users do not need to download special software on their computer - just open a service website, create your wallet and make a transaction.

Advantage is that it is not an online wallet in the classical sense. In fact, the service does not store user coins - MyEtherWallet simply helps to interact with the blockchain and dispose of digital assets. Another advantage of the wallet - users can place their own ICO on the Ethereum platform directly through the service.

But because of the high popularity of the service, it often becomes the object of fraudsters manipulation. So, last year, attackers created a copy of the official MyEtherWallet website and in two hours stole more than $ 15,000 in equivalent of Ethereum. In April of this year unknown userreplaced a number of MyEtherWallet DNS servers  for redirecting users to a phishing website.

Parity

Desktop wallet which principle of work is in many respects similar to the above described MyEtherWallet. It also works directly with Ethereum network and supports tokens of the ERC-20 standard.

Advantage is advanced functionality, which can primarily attract developers.

In addition to the availability of open source code, the Parity team regularly publishes test results and other details of the project.

Parity is not compatible with most hardware wallets, which is not very convenient for users who want to work with the service solely to store tokens.

Besides, from last year in Parity several vulnerabilities because of which millions of means have been stolen or blocked were revealed at once. For a long time, discussions were taking place in the Ethereum community about whether it is worthwhile to conduct a hardfork network for defreezing assets,  however this spring in a voting process the final decision has made not to do it. Parity have reported that have learned a necessary lesson from current situation, have completely reorganized process of creation of smart contracts of Ethereum and work on creation of the safest development environment.

Choosing a cryptocurrency wallet is a responsibly task. Before choose any of the services, the user should first of all consider what assets he is going to operate with, and for what goals he needs a wallet - whether he wants to simply store coins or plans to work with ICO- projects.

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