This is a direct analysis and review about Atomic wallet. We will not hide even a single bit of what we know in this Atomic wallet review. In lieu of this, we would disclose all the assessments that you need to know concerning what the Atomic blockchain-powered wallet does. Doing this will help crypto enthusiasts to speed up how they usually select wallets for trading.
For reference, there are over 6,000 cryptocurrencies in the world. If you’ve chosen to invest in one (or a few), you need a secure crypto wallet to store your currency, no matter which crypto you choose. Thankfully, many crypto wallets are there to serve you securely store and manage your crypto.
However, with so many out there, it may not be easy to try and figure out which one’s best for you. So, to help you out, here’s an entire Atomic Wallet Review. That way, you can decide whether or not this wallet suits your needs.
Table of contents
- Atomic Wallet Overview
- Atomic Wallet Coin
- Atomic Wallet Fees
- Atomic Wallet Features
- Atomic Wallet Security Features
- Atomic Wallet Supported Countries
- Drawbacks of Using the Atomic Wallet
- Atomic Wallet Pros and Cons
Atomic Wallet Overview
The Atomic wallet has gained fame in the crypto sphere. Moreover, its key features rest on the Atomic Swaps offering, which is a DeFi exchange. Besides, the Atomic swap exchange was started in 2017 by a fintech expert, Changelly CEO, Konstantin Gladych.
Atomic wallet supports users’ fiat currency bank cards to acquire crypto tokens, such as Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). In addition, the hardware wallet supports easy access to operating systems, such as macOS, Android, Windows, and iOS.
Also, the platform instant crypto exchange ‘Atomic Wallet’ has holdings of more than 500 cryptos. Moreover, it is a decentralized exchange, rendering active safety measures and an interface suite for crypto enthusiasts.
The exchange offers services, such as easy swapping of 60 plus crypto assets. Also, Proof-of-Stake (PoS) assets, and fiat currencies from 18 prominent global marketplaces. Plus it offers cashback for exchange. Thus, the primary intent of Atomic is to produce a robust, multifaceted realm that can accelerate the extensive appropriation of crypto.
Most importantly, holding privacy as an essential functionality to build a trusted network of users. However, the desktop wallet does not impose Know Your Customer (KYC) mandates. Year on Year (YoY), the hardware wallet platform makes 23% in profits for staking. So, traders of Atomic are left to stake their native assets. Also Cosmos, Tezos, and many other coins and tokens.
Atomic Wallet Coin
Atomic Wallet Coin (AWC) is the first token issued by the decentralized crypto wallet. Likewise, the coins will work as the internal currency of Atomic Wallet. In addition, AWC will give perks to users such as discounts on exchange services, staking, affiliate, and bounty rewards. Also, with extra features for their trading desk, a host of features will soon launch.
Furthermore, the Atomic Wallet Token is available on the Binance DEX and IDEX exchanges. In addition, users can participate in Airdrop, affiliate programs, and bounty drives to receive AWC tokens.
Atomic Wallet Fees
Atomic Swaps crypto exchange managed by the wallet’s associate service, Simplex. However, the charges allowed by the Atomic wallet for attaining crypto into fiat currencies have two elements.
Firstly, the built-in exchange wallet charges for payments of 2% for a trade amount of $10 for each transaction, respectively. Secondly, the crypto wallet sets taxes on the user’s bank card with a provider’s purchasing fee based on the particular size of the fiat currency account policies.
However, the platform fees for this element now with an extra cost of 5% exacted as the crypto purchase needs high-risk performance security for certain coins.
Furthermore, it is the only wallet where all fees depend on the process cost within the Atomic wallet. Therefore, the expense estimate obtained includes the sum of all the fees exacted.
Atomic Wallet Features
Atomic Wallet has united almost all of the recent discoveries in the blockchain. Also, it is packed with user-friendly features delivering it easy to manage and store crypto.
Some of the features united into Atomic Wallet are:
Atomic Wallet has a smooth and user-friendly platform allowing users to run within numerous functions with ease. Also, there’s a host of customization selections that are possible for users. For example, the airdrop feature allows users to engage in any airdrops or bounties associated with any particular token that they have added.
Atomic Wallet is promoting peer-to-peer crypto exchanges and in-app crypto swaps. Notably, this is because it has an inbuilt exchange. Besides, Atomic Wallet has partnered with top decentralized exchanges like Changelly, Shapeshift, and Binance to facilitate their inbuilt wallet.
Atomic wallet is available as both a desktop and a mobile app. Besides, the desktop version supports operating systems like Windows, Linux, macOS, Ubuntu, and more. At the same time, the mobile app is available on Android and iOS.
Supports card purchase
Users can purchase cryptos using their credit and debit cards thanks to its collaboration with Simplex.
Atomic Wallet arrives with price tracking and portfolio management tools. In addition, it allows users to monitor their investments’ value in real-time.
The atomic wallet has partnered with data providers like CoinMarketCap, allowing users to watch coin prices in real-time. The wallet also has an education and news section to keep users updated with the crypto space’s latest improvements.
All users who were holding AWC-BEP2 get cashback rewards for using a built-in exchange service. The amount of cash back earned is dependent on your membership status. Notably, a user who wants to become a member only needs to have at least 100 AWC.
Atomic Wallet Security Features
Atomic Wallet arrives with a host of security features to guarantee the absolute safety of the users. Moreover, the first feature is the user-generated password, which is needed to access the wallet. At the same time, it also requires a password to verify transactions and while viewing private keys.
Furthermore, the user-generated password supports a randomly generated 12-word backup phrase to retrieve wallet access. This is in case the user’s device is lost or stolen. In addition, Atomic Wallet uses TLS and AES encryption to assure secure transactions. Lastly, the servers do not store any data, and Atomic Wallet has zero access to the users’ private keys.
Let’s take a slightly further detailed look at the Atomic wallet review security features:
The user needs to create a solid multi-character password. At the same time, they can make an account either on the mobile app or the desktop app.
A randomly formed 12-word backup phrase will back up the user-generated key. Besides, it generates automatically once the user has enrolled in an account with Atomic Wallet. Therefore, users can use this to retrieve the wallet and private keys in the event of loss or theft of the phone or computer or forgetting the password.
Atomic Wallet comprises especially to help anonymous Crypto trading. So, the wallet will not require details such as name and email address. In addition, users will not be subject to KYC and AML verification tests.
Atomic Wallets are non-custodial wallets. This means that the firm servers will not cache private keys on the user’s behalf. Likewise, the user will keep complete control of the private keys.
Atomic wallets utilize AES Symmetric encryption technology to control any illegal access to the user’s assets. Besides, all the data and private keys are kept in the user’s wallet.
Atomic Wallet Supported Countries
This section of the Atomic wallet review will discuss the countries supported by the Atomic wallet. Besides, you can download and use the wallet in over 100 countries. More so, these countries include the USA, the UK, Australia, Canada, Japan, and India.
Also, you open the Google Play Store or App Store and search for the wallet to know whether the wallet is open in your country. You can download it easily in case your country supports the wallet.
Drawbacks of Using the Atomic Wallet
Now you’ve seen all the benefits you can get from this Atomic wallet review. However, what are the possible drawbacks? Keep browsing to see what these are.
Limited Support for Atomic Swaps
Although Atomic swaps are its main sale point, the Atomic Wallet only supports a few cryptos for this. They are Bitcoin, Litecoin, and Qtum. On the other hand, the good news is this firm plans on adding more cryptos for atomic swaps.
No Support for Hardware Wallet Pairing
If you want to pair the Atomic Wallet with a hardware wallet, be ready to do it alone. Currently, there isn’t help set up for this yet. However, there seemingly will be soon.
You’re Responsible for Security
One of the most notable limitations of using the Atomic Wallet is you’re only liable for security. So not only do you need to have best online practices. But it would help if you also store your backup phrase securely, on your own. Similarly, if you want to make additional security, you need to pair the wallet with a physical one on your own.
However, this drawback appears with all crypto wallets. So no matter which one you choose, you’ll ultimately still be entirely responsible for your digital security.
Atomic Wallet Pros and Cons
Like most crypto wallets, there are some pros and cons that everyone needs to know. We gather the pros and cons you need to know on this Atomic wallet review before considering this wallet.
- Atomic Wallet is sincere with an interface that is simple to navigate.
- On the trading platform, 500 coins and tokens are allowed through Atomic Swap.
- The Atomic wallet presents private keys stored on the users’ digital devices, which are encrypted.
- The Atomic wallet coin interface does not render hardware wallet support.
- To purchase crypto, only selected supported coins are open in the wallet.
- Standard support features rendered.
Atomic Wallet holds 300+ crypto assets and essentially thousands of ERC20 tokens because more than 500 tradable ERC20 tokens are available.
With Atomic Wallet, you can store, send, receive, buy and exchange crypto. Unfortunately, it is impossible to withdraw from Atomic Wallet directly, as the app doesn’t support crypto-to-fiat conversions. So instead, we suggest using different services to convert your crypto.
On one mobile device, it is not possible to have two or more wallets. But, you can have multiple wallets on your desktop device only by managing wallets through separate user accounts.
Disclaimer: All information in this Wallet Review article is solely for the user’s information and nothing else. No information in this article should be interpreted as advertisement about the subject. CoinQuora does not endorse any product or service from any company on its website, directly or indirectly.