Atomic _ wallet
Last updated
Last updated
Atomic Wallet is a decentralized wallet that accommodates multiple cryptocurrencies and has desktop and mobile versions. Its easy-to-use interface makes it an excellent option for crypto investors to securely and anonymously manage their portfolios.
Besides presenting an opportunity for users to swap, exchange, or convert crypto-based assets, Atomic Wallet also allows users to earn rewards through various means such as staking and cashback programs. The platform has 24/7 customer support.
Atomic Wallet supports diverse crypto assets including:
Bitcoin
Ethereum
Ripple’s XRP
Bitcoin Cash
Litecoin
As a non-custodial wallet, Atomic Wallet users have total control over their private keys which are usually encrypted and stored on their devices, giving them full custody of their funds. In terms of security, the wallet has gained a reputation in the cryptocurrency industry as there has not been a report of a security breach. To authorize any transactions, Atomic Wallet requires users to input their passwords.
Users can recover their accounts with a 12-word backup seed phrase that is randomly generated when users set up their Atomic wallets for the first time. Even though the wallet’s programming code is not available for peer review (i.e., it’s not open-source), the platform presents users with resources on how to secure their wallets. One such resource highlights the importance of accessing the wallet with a Virtual Private Network (VPN). A VPN is a network that gives you privacy and anonymity by creating a private network from a public network.
Atomic Wallet is at the forefront when it comes to privacy and anonymity. Verification and KYC standards are unnecessary to access funds stored in the wallet.
While the wallet does not generate a new address for every transaction and is not coinjoin-enabled, transactions are absolutely anonymous. For a wallet to enable coinjoin transactions, it must support anonymization methods of transactions.
Setting up Atomic Wallet across various interfaces (either desktop or mobile) is relatively easy. Just like other software wallets, setup follows three main patterns - download and installation, 12-word seed phrase backup, and setting up the wallet password.
To download and install Atomic Wallet, visit the website and click on “Download” at the top-right corner of the screen. Ensure that you download the software that is compatible with either of these devices - Windows, MacOS, Debian, Ubuntu, or Fedora.
Once the wallet has been downloaded, double-click the file to install it. Next, open the wallet on your device and click on “Create wallet.” Proceed to set up a strong and secure password, repeat the password, click “set password,” and allow the wallet to load.
A 12-word backup phrase is generated. Write it down and click "open wallet." Next, you will be presented with the option to "enable Atomic Wallet to collect logs." This is an anonymous process that helps you recognize errors when needed rather than doing so manually.
To keep your wallet secure, it is important to use a password that you have never used before. This is because you may have signed up on other platforms with the same password in the past, or someone else may have seen it before. This exposes you to the risk of a security breach. It is also important to keep your Atomic Wallet password safe because once it is lost or forgotten, it cannot be replaced, hence a permanent loss of funds. Remember to keep your 12-word backup seed phrase safe. And because Atomic Wallet does not hold on to users' passwords and seed phrases, keeping such credentials safe is the only guarantee to access your funds.
To download the mobile version of Atomic Wallet, visit Google Play Store for Android devices or the Apple App Store for iOS. Search for the Atomic Wallet app and download it. Once you open the app, you will be presented with two options: create a new wallet or restore from backup.
Click on create a new wallet, set up an original password, confirm the password, and let the wallet load. Then, you will be presented with your backup seed phrase, which should be written down and stored in at least two different places. Remember, it is the key to your funds.
If you desire to have the same wallet on two different interfaces, that is, desktop and mobile, your 12-word backup seed phrase will come in handy. In this case, click on "restore wallet" instead of creating a new wallet.
Atomic Wallet is a cross-platform wallet and as such, users can access their crypto assets on their computers through the desktop version of the wallet. The wallet is not hardware-compatible and does not support connectivity such as Bluetooth and other wired devices. However, it does have a user-friendly interface.
By downloading Atomic Wallet for mobile on the Android and iOS platforms, users can have direct access to their funds via their smartphones. On the Google Play Store, the wallet has a 4.4 star rating with over 65,000 reviews. Many of the reviews are positive and complements the friendly user interface and transaction fees. However, others seem to be complaining about too many bugs, high fees, and “wishing” for the option to directly sell crypto in the wallet.
The atomic wallet provides users with 24/7 customer support, with the option to use either the website help page, email, ticket system, or live chat.
Downloading Atomic Wallet for either desktop or mobile interface is completely free. However, users are required to pay transaction fees (network fees) to complete trades. These fees go to crypto miners - those tasked with verifying block of transactions and adding them to the blockchain.
Network fees depend on the type of transaction being facilitated. For instance, network fees for Ethereum depend on the Ethereum gas fees measured in Gwei. When the Ethereum network is congested, gas fees are relatively higher.
Network fees can also vary based on the number of inputs a transaction may have. For example, since there is no single $75 bill, it can be split into three - $50, $20, and $5. The same applies to BTC, LTC, and DGB transactions. If you plan to send 0.2 BTC to a wallet, the transaction will likely be split into two parts - 0.1 BTC and 0.1 BTC, an indication that you will pay a higher network fee compared to a transaction with a single input.
Similarly, network fees can be customized by clicking the “set fee” and adjusting the slider on the send screen. It is important to understand that customizing network fees determines the speed of transactions. For instance, if A and B both plan to send 0.1 BTC each and customize their network fees to $10 and $0.99, respectively, it is only “natural” that miners will race to verify A’s transaction first.
Finally, buying crypto in the wallet using a bank card is facilitated by a third-party partner - Simplex. Such transactions attract a flat charge of 2% and a maximum of $10 per transaction. Bank charges may also apply depending on underlying policies.
Atomic Wallet supports multiple crypto-based assets, allowing users to buy, swap, and convert cryptocurrencies, making it stand as a contender among its peers alike.
With an easy-to-use interface, this wallet is suitable for new and existing crypto investors who desire speed, security, privacy, and anonymity while managing their portfolio and transacting.
One of the most important things to consider before you transact in and store cryptocurrencies is that you have a suitable crypto wallet in place. To help determine the wallet that works best for you, we conducted a comprehensive review process of the top cryptocurrency software wallets.
Our review process is built around a quantitative ratings model that weighs key factors like security, costs, privacy, usability, customer support, and features according to their importance. Our team of researchers gathered over 40 data points and conducted extensive research for each of the 19 companies we reviewed. Our team of writers, who are experts in this field, then test drove each wallet to lend their qualitative point of view.
Our model gave preference to companies with the strongest security measures and reputations. Companies with rich features, such as supporting a large number of crypto assets, giving users the ability to sync with hardware wallets, and allowing for fee customization, also ranked highly.
A cryptocurrency wallet is a program that interacts with various blockchain and stores private and public keys, enabling users of these wallets to send and receive digital currency as well as monitor their balance. If a person wants to use any type of cryptocurrencies like Bitcoin or Ethereum, then a digital wallet is necessary.
Atomic wallet is an all-in-one cryptocurrency solution. It has numerous features covering anonymity, decentralization, atomic swaps, security, and more, along with support for numerous coins and multiple devices. Designed to become a part of a fully-fledged decentralized cryptocurrency ecosystem, the wallet is a downloadable application, compatible with a host of operating systems like Windows, macOS, Ubuntu, Linux, Android & iOS.
Atomic wallet was created as a multi-currency wallet to help users store and manage over 300 cryptocurrencies. The Atomic wallet can also be used as your exchange, allowing for atomic swaps. You can also use bank cards to purchase Bitcoin and Ethereum directly from the wallet. The wallet is intended to be easy to use, even for users without any experience, while also being feature-packed like adding ERC20 tokens and trade coins directly through the atomic wallet.
Atomic wallet is available for free, although certain services incur fees. Users can buy cryptocurrency with a credit card and have it sent directly through the wallet. Users can perform three types of trade through the wallet. These are –
Trade through ShapeShift
Trade through Changelly
Atomic Wallet at a glance
Platforms supported – Windows, Linux, macOS, iOS, Android, Ubuntu, Debian & Fedora
Released – 2017
Price – Free
Cryptocurrencies supported – More than 500 including Bitcoin, NEO, Tron
Because Atomic Wallet is free, it is great for beginners. It allows users to buy crypto directly through the wallet, unlike other wallets that require that you buy crypto assets through third party exchanges and then send them to their wallet to begin exchanging them. The wallet also has atomic swap integration, which means that Atomic Wallet users can exchange almost any coin and token through the wallet.
Atomic Wallet Features
Atomic Wallet has incorporated almost all of the recent innovations in the blockchain. It is packed with user-friendly features making it easy to manage and store cryptocurrency. Some of the features added into Atomic Wallet are –
User interface – Atomic Wallet has a sleek and user-friendly interface enabling users to move between numerous functions with ease. There are also a host of customization options that are available for users. The airdrop feature allows users to participate in any airdrops or bounties related to any particular token that they have added.
Inbuilt exchange – Atomic Wallet has an inbuilt exchange, facilitating peer to peer crypto exchanges and in-app crypto swaps. Atomic Wallet has partnered with leading decentralized exchanges like Changelly, Shapeshift, and Binance to facilitate their inbuilt wallet.
Multi-platform – Atomic wallet is available as both a desktop app and a mobile app. The desktop version supports operating systems like Windows, Linux, macOS, Ubuntu and more. The mobile app is available on Android and iOS.
Supports card purchase – Users can buy cryptocurrencies using their credit and debit cards thanks to its collaboration with Simplex.
Portfolio management – Atomic Wallet comes with price tracking and portfolio management tools allowing users to monitor the value of their investments in real-time.
Resources – Atomic wallet has entered into partnerships with data providers like CoinMarketCap, allowing users to monitor coin prices real-time. The wallet also has an education and news section that users can use to keep themselves updated with the crypto space’s latest developments.
Membership – All customers holding AWC-BEP2 receive cash back rewards for using a built-in exchange service. The amount of cash back received is dependent on your membership status. You can become a member by holding at least 100 AWC. Find out more about the different membership levels here.
Security features of Atomic Wallet:
Atomic Wallet comes with a host of security features to ensure the complete safety of the users. The first feature being the user-generated password, which is required to access the wallet. This password is also used in the confirmation of transactions and while viewing private keys. The user-generated password is backed up by a randomly generated 12-word backup phrase that can be used to recover access to the wallet if the user’s device is misplaced or stolen. Atomic Wallet uses TLS and AES encryption to ensure secure transactions. None of the data is stored on servers, and Atomic Wallet has zero access to the users’ private keys.
Let’s take a slightly more detailed look at the security features of Atomic Wallet:
Password – The user will be required to create a strong multi-character password while creating an account either on the mobile app or the desktop app.
Recovery backup – A randomly generated 12-word backup phrase will back up the user-generated password. This is automatically generated once the user has registered an account with Atomic Wallet. The user can use this to recover the wallet and private keys in the event of loss or theft of the phone or computer or forgetting the password.
Anonymous trading – Atomic Wallet has been specifically designed to support anonymous Crypto trading. The wallet will not ask for details such as name and e-mail address. Users will also not be subject to KYC and AML verification tests.
Non-Custodial – Atomic Wallets are non-custodial wallets. This means that the company servers will not store private keys on the user’s behalf. The user will maintain full control of the private keys.
Encryption – Atomic Wallets use AES Symmetric encryption technology to prevent any unauthorized access to the user’s assets. All the data and private keys are stored in the user’s wallet.
What are the currencies currently supported by Atomic Wallet?
Atomic Wallet does not have any membership restrictions or limitations. Even countries that have a strict crypto policy can access Atomic Wallet through VPN. The wallet app is available to virtually all cryptocurrency enthusiasts. The wallet currently supports more than 300 different cryptocurrencies and tokens as well as all ERC 20 tokens. Users can store and manage BTC, ETH, LTC, XRP, BNB, TRX, BCH, XMR, DASH, ZEC, XLM, DOGE, and many others.
The user will not be charged for downloading and using the integrated features of the wallet. Only crypto transactions have minimal charges. These charges are towards the miners and network validators. Cryptocurrency exchanges charge a highly variable transaction fee, depending on the transaction volume and the blockchain network used. Purchases done through the Simplex platform carry a fixed charge of 2% of the transaction amount.
Atomic Wallet Token – Atomic Wallet Token (AWC) is the first token issued by the decentralized cryptocurrency wallet. The tokens will serve as the internal currency for the users of Atomic Wallet. Atomic Wallet Tokens will give users of Atomic Wallet benefits such as discounts on exchange services, staking, affiliate and bounty rewards, extra features for their trading desk, dedicated support, along with a host of features that will soon be launched. The Atomic Wallet Token is available on the Binance DEX and IDEX exchanges. Users can participate in Airdrop, affiliate programs, and bounty campaigns to receive AWC tokens.
Staking options in Atomic wallet:
Atomic wallet has many staking options that help users earn a passive income. But before getting into that, here is a brief description of what staking is –
Staking involves holding funds in a wallet. These funds help to support the operations of a blockchain network. Users can stake coins directly from their wallet, exchanges also offer staking services to their users. Staking was originally conceived as an alternative to the PoW (Proof of Work) model. Proof of Stake (PoS) is an alternative and efficient way of reaching a distributed consensus that would allow for greater network scaling.
What is Proof of Stake (PoS)?
Users that are familiar with Bitcoin will also be familiar with Proof of Work (PoW). Proof of Work is the mechanism that allows transactions to be gathered into blocks, which are then linked together to create the blockchain. Proof of Work is a very robust mechanism that facilitates consensus in a decentralized manner. However, unlike Proof of Work blockchains that solely rely on mining to verify and validate new blocks, Proof of Stake (PoS) chains validate new blocks through staking, allowing the blocks to be produced without being reliant on mining hardware.
Instead of competing for the next block as they would have done in a Proof of Work system, Proof of Stake validators are selected based on the number of coins they are staking. The validator can then stake the coins present in their wallet to create the new block relative to the amount of coins staked. Many exchanges like Kraken, Binance, CEX, and Coinbase have already started offering staking.
