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Atomic Wallet Review: Who Is it For?

The “Atomic Wallet” platform for instant cryptocurrency trading has over 500 coins. It is a decentralized cryptocurrency exchange with effective security measures and a user interface designed for crypto enthusiasts. Atomic provides services such as easy swapping of 60+ crypto assets, Proof-Of-Stake (PoS), and fiat currencies from 18 major global marketplaces. This review demonstrates that you can also obtain cashback to exchange. Atomic was designed to provide a robust and multifaceted environment that will allow for faster cryptocurrency adoption.

What Is Atomic Wallet?

Atomic Wallet is a non custodial, blockchain wallet that uses cold storage. All passwords and data are kept on the user’s device. It has a user-friendly interface. You can store crypto and other non-fungible tokens (NFTs), make in-wallet purchases, and even stake crypto.

Installing Atomic Wallet

On Desktop

Click on the link to download Atomic Wallet. You must ensure that the software you download is compatible with any of these devices: Windows, MacOS (Debian, Ubuntu), Fedora, and Windows.

Double-click the downloaded wallet to install it. Next, open the wallet from your device by clicking on “Create wallet.” Once the file has been downloaded, you will need to enter a strong, secure password. Click “Set password” and the wallet will begin to load.

You will receive a 12-word backup phrase. Note it and click “open wallet.” Next, you will see the option to enable Atomic to store logs. This anonymous process allows you to identify errors automatically and helps you avoid them.

You should use a password you have never used before to keep your wallet safe. This is because it’s possible that you have used the same password on different platforms in the past or someone may have already seen it. This can expose you to security breaches. Your password is important because it can’t be reset or lost. This could result in a permanent loss. Your 12-word backup phrase is also important. Atomic Wallet is not able to keep users’ passwords and/or seed phrases. Therefore, it is important to ensure that you have access to your funds only by keeping these credentials safe.

Top Recommended Platforms

78% of retail investor accounts lose money trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

MIN. DEPOSIT

$100

EXCL. OFFER

USER RATING

9.7

4.8/5

Trading forex or CFDs on margin involves a high degree of risk and may not be suitable for all investors. There is a possibility that you may suffer a loss equal to or greater than your entire investment.

MIN. DEPOSIT

$250

EXCL. OFFER

USER RATING

9.6

4.5/5

CFDs are complex instruments and involve a high risk of losing money quickly because of the leverage effect. 68% of retail investor accounts lose money trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

On Mobile

Visit the Google Play Store on Android devices to download Atomic Mobile. You can search for the Atomic Wallet application and download it. After opening the app, there are two options available: create a new account or restore from a backup.

Click on create new wallet to set up a password and confirm it. The wallet will then load. Next, you’ll be presented with the backup seed phrase. This should be written down, and stored at least twice. This is your key to funds.

You can use your 12-word backup password phrase to allow you to have the same wallet across two interfaces (mobile and desktop) To restore your wallet, instead of creating a brand new one, click “restore wallet”.

Atomic Wallet Supported Cryptocurrencies

Atomic Wallet supports more than 500 coins and tokens, including:

  • Bitcoin
  • Ethereum
  • Litecoin
  • Bitcoin Cash
  • Ripple
  • Stellar
  • EOS
  • Tether USD
  • Cardano
  • Bitcoin SV
  • Tron
  • Dash
  • NEO
  • Vechain
  • OmiseGo
  • Monero
  • Cosmos
  • Chainlink
  • Brave Attention Token
  • Binance Coin
  • Tezos

Features of Atomic Wallet

Free Cold Storage

The vast majority of free blockchain wallets available for download are hot wallets. This indicates that they have internet access. While cold storage is considered safer because it is done offline, most cold wallets require you to buy hardware. Atomic is an exception because it is classified as a cold wallet and is free to use.

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Atomic Wallet will store your passwords and other data on your device. If your device has an internet connection, you will be able to access your wallet. Hardware wallets provide a more convenient method of storing money offline.

Atomic Swap Exchange

Users need trust. The exchange platform is designed with private keys to ensure that users have the ability to feel confident about any risk. The user-generated passwords allow cross-chain Atomic swaps to be authorized and allow for transaction access. It is unique because it is a 12-word phrase that can be used to retrieve a wallet from an investor if their digital device is lost. You should keep a backup of 12 words to ensure your wallet is safe.

Crypto Staking

Growing your cryptocurrency holdings is easy with stakes. By staking crypto, you are using it as collateral. You also help validate transactions and secure a network of blockchains. In return, you will get rewards on the amount that you staked. Atomic Wallet allows you to quickly and easily stake with more than a dozen cryptocurrencies.

Atomic Wallet Security

The security of Atomic Wallet begins with the user-created passphrase. This password grants wallet access and confirms transactions. To back up the user-created passcode, a randomly generated backup phrase of 12 words is generated. This backup phrase should be used if your device is lost, stolen, or damaged.

Full encryption safeguards all data stored on the user’s device as well as any data sent to it during a transaction. Atomic uses AES and TLS encryption to ensure secure transactions. Atomic cannot store your data and has no access to or control over your private keys. It is our responsibility to ensure your safety.

Fees

Atomic Wallet can be downloaded for free on either the mobile or desktop interfaces. Users will be required to pay transaction charges (network fees), to trade. These fees go to cryptominers, those who verify transactions and add them onto the blockchain.

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Network fees are dependent on the type and amount of transactions being facilitated. The Ethereum gas fees are used to calculate network fees. The gas fees for Ethereum are higher when the network is congested.

The number of transactions a transaction has can affect the network fee. Because there is not one $75 bill, the transaction can be broken down into three pieces: $50, $20 and $5. Similar rules apply to DGB, LTC and BTC transactions. If you intend to send 0.2 BTC directly to a wallet, it is likely that the transaction will be split into two parts: 0.1 BTC or 0.1 BTC. This indicates that you will pay more network fees than for transactions with one input.

Network fees can be modified by clicking “set fee”, and then adjusting the slider at the send screen. It is important that you understand that customizing the network fees affects the speed and efficiency of transactions. A transaction in which A and B send 0.1 BTC and set their network fees to $10 and $0.99 each, is it natural that miners will be racing to verify A’s transaction?

Simplex is the third-party partner that facilitates buying crypto with a bank card. Transactions of this nature attract a flat fee (2%) and a maximum $10 transaction. Dependent on the policies behind these transactions, bank fees may apply.

Potential Drawbacks

There are no deal breaker features. As with all cryptocurrency wallets there is always the possibility of losing access to your entire crypto assets. Your cryptocurrency will be lost if your device is locked down or you forget your recovery password. Atomic also faces the same risks.

Verdict

Atomic Wallet supports a variety of crypto-based assets. Cryptocurrencies can be purchased, traded, or converted by users. As a result, it is a formidable competitor among its peers.

The wallet’s interface is simple to use, making it ideal for new and experienced crypto investors looking for speed, security, and privacy when transacting and managing their portfolios.

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