There are so many false wallets on the internet, it’s hard to find the best one for your needs. Some wallets may even maliciously take your funds so it is very important that you research the wallet that you decide to use. In order to help the community pick which wallet is best for them we are going to compare the popular Coinami wallet with our Morph wallet.
As you probably know by now Morph Wallet is a super secure multi wallet that allows you to store all of your funds within one place. Morphs unique cloud vault system means that your keys are heavily encrypted and backed up meaning it is impossible for you to lose your private keys.
The Coinami wallet has been a massive favourite in the Android community. It holds a whole load of different currencies including Bitcoin, Ethereum, Dash and more. Most currencies supported seems to be mainly Bitcoin forks. Coinami has integrated services such as shapeshift and simplex to allow it’s users to buy currencies straight from the app.
We found that basic usage of the Coinami wallet was pretty easy. The main UI is split into send, balance and receive. Wallets and external integrations are nicely hidden away in the sidebar of the app so focus on the functionality of each wallet. Although Coinami holds a large amount of different coins, we found that most of them coins are useless and not even listed on any exchanges. This also seems to be the opinion of the internet. I wish they cut back on 50% of their supported coins and just listed the most popular. Apart from that, the UI of Coinami is very bland and gray.
Morphs UI focuses mainly on it’s wallets screen where it displays all of the users wallets and also a total calculation of their portfolio. Users can also navigate into the transactions screen to view a list of their recent transactions aswell as a monthly cost breakdown of their spending. All prices in the app are synced to the top exchanges and update in real-time as the value of each currency changes.
Both Coinami and Morph utilize modern security standards and are extremely secure. However they both use slightly different techniques to keep your keys secure. Coinami wallet encrypts and stores your generated wallets locally on your device. Your keys always stay with you meaning it is very hard for an attacker gain access to your funds unless your device becomes compromised. Funds are sometimes lost when users lose their devices and have not followed all of the steps to back up their wallet on paper. We also liked Coinamis screen-shot blocker which stops malicious malware to taking pictures of your private keys.
Morph uses it’s unique cloud vault system to automatically backup your heavily encrypted keys meaning that even if you do lose your device you can still get access to your wallets. This also added the benefit of being able to use your account on any of your devices. Vaults are encrypted using AES256 encryption meaning it would take 13 years for an attacked to gain access to a single wallet. As an additional security gate Morph also blocks access to vaults from all devices unless they are recognized as a trusted device.
Unfortunately Coinami currently has no application for desktop users. But fear not, Morph wallet is available to Android, Iphone and as a web app to desktop users!
So in conclusion both wallets are extremely secure and handy to store your funds. We prefer the usability of our Morph wallet but some users like the idea of their private keys staying local. As always thanks for reading and may the HODL God’s be watching over us.