For managing all of your cryptocurrency assets, use Atomic Wallet’s sleek, user-friendly platform. Through crypto staking, you can earn rewards on more than a dozen of the hundreds of cryptocurrencies it supports. There is also the option to buy cryptocurrency and use the built-in exchange. But according to a 2022 report, this wallet has security flaws. Learn more about the benefits and drawbacks of Atomic Wallet by reading our review.
What Is Atomic Wallet?
All passwords and data are kept on the user’s device by the non-custodial blockchain wallet Atomic Wallet, which employs cold storage. It is renowned for having an intuitive user interface and for providing a number of features, such as storage for cryptocurrencies and non-fungible tokens (NFTs), crypto staking, and in-wallet crypto purchases.
The “Atomic Wallet” platform for instant cryptocurrency exchange holds more than 500 cryptocurrencies. It is a decentralized exchange with good security features and a user-friendly design for crypto enthusiasts. Atomic provides services like simple swapping of more than 60 cryptoassets, Proof-Of-Stake (PoS) assets, and fiat currencies from 18 renowned international marketplaces. You can see from this Atomic Wallet review that it also provides cashback for exchange. Atomic’s primary goal is to create a strong, multifaceted realm that can hasten the widespread appropriation of cryptocurrency.
Pros & Cons Of Atomic Wallet
Pros
- Over 500 coins and tokens supported by Atomic Swap
- Private keys are encrypted and stored on your device
- The interface of Atomic Wallet is straightforward and easy to use.
- Compatile with nearly every device including Windows, Mac, Android, Linux and iOS
- Ability to purchase cryptocurrency in wallet
Cons
- Only certain cryptocurrencies available for purchase in wallet
- Rendering of common support features.
- No hardware wallet support
- Support is mediocre
How Does Atomic Wallet Work?
Users can fortify their cryptocurrency assets through private keys thanks to the functionality of the best cryptocurrency wallets. Due to Atomic’s lack of access to the cryptocurrency wallets, this grants them full control over their assets and gives them independence.
In order to complete a secure transaction, the users’ money is combined into the blockchain network. With the user’s preferred blockchain nodes, the Atomic cryptocurrency wallet integrates right away. Additionally, all cryptocurrency wallet users’ trading activities, including transaction history, can be monitored.
Is Atomic Wallet Suitable For Novices?
Because it’s free and allows users to purchase cryptocurrency directly through the wallet if they don’t already have any, the Atomic Wallet is a good option for newcomers. In contrast, cryptocurrency wallets like Exodus require you to send your cryptocurrency purchases to the wallet in order to start exchanging them. The wallet also enables you to exchange almost any coin or token in addition to its simple setup for all users. Because the Atomic Swap exchange is integrated with the wallet, this is possible. For additional coverage, other exchange integrations exist.
Is It Secure To Use Atomic Wallet?
In addition to offering strong security features, Atomic Wallet doesn’t keep any user passwords, information, or seed phrases on its servers. Your device, where Atomic Wallet is installed, is where all of that data is kept. Your crypto will be secure if you keep your seed phrase and password secure.
However, it is important to note that Atomic Wallet was thoroughly audited by the cyber security firm Least Authority, which claims to have discovered vulnerabilities. A blog post from February 2022 claims that Atomic Wallet is insecure in protecting user assets and sensitive information.
In its response to the audit, Atomic Wallet said that while it is working on fixes, there were no serious issues that might have caused user funds to be lost. It has a good track record and hasn’t experienced any data breaches, which is commendable. Before deciding whether this is the wallet for you, you might want to review Least Authority’s report and Atomic Wallet’s rebuttal.
How to Set Up the Atomic Wallet?
Downloading the wallet exchange platform’s app from the Google Play store or using their website’s services are the first steps in managing an exchange through the Atomic wallet. If the user goes through the website route, there is a step to download Atomic wallet software on their device.
Once logged in, the user has two choices: Restore from a backup and create a wallet. The wallet’s first Create Wallet option needs to be selected by inexperienced investors. After that, the user is given permission and must create a password.
In case of future risk, a secondary 12-word password must also be given and stored safely. The user can start their cryptocurrency trading endeavors after receiving the password. You can get back access to your Atomic Wallet at any time and anywhere with the aid of the backup procedure.
Atomic Wallet Security Measures
The security of Atomic Wallet The digital exchange platform is, in actuality, very secure. It is a safe interface that grants access to blockchain networks and cryptocurrency funds.
The user should conduct their own research and exercise caution when trading. The platform, which is open-source, cautiously reduces fintech uncertainties and covert hackers who want to learn the password for the device wallet.
The hardware Atomic wallet hallmark that the platform offers to investors can be used to expertly control cryptocurrency trading risks. Private keys are made available by the Atomic wallet and are encrypted files stored on the user’s electronic device.
What Does It Cost?
Atomic Wallet is entirely free to download and use, though using specific services might have varying costs at various times.
You can purchase cryptocurrency with a credit card and have it sent directly through the wallet, but you should be aware that there is a sizable 7% commission and a minimum $10 fee for doing so. Although it might be practical, there are other options that are much more affordable.
The fees associated with in-wallet peer-to-peer currency exchanges can vary depending on the chosen options and the chosen currency. Depending on the coins you want to trade, there are three different types of trade that are possible.
Conclusion
In conclusion, the Atomic wallet is unquestionably among the best software wallets available today for cryptocurrency storage platforms.
The wallet in question has integrated crypto exchanges, provides 24/7 live customer support, holds more than 300 different crypto coins (and all of the ERC-20 tokens, too), is simple to use, and is quite secure.