As the number of people using cryptocurrencies are growing, finding a safe, easy-to-use wallet to store and manage digital assets has become very important for new and expert traders. Atomic Wallet is one of the options that claims to offer users a safe, decentralized space to handle many different coins. Anytime you want to invest in crypto or take more control of your assets, Atomic has features that will work for you. This review will go over Atomic Wallet in detail, including its features, safety, how to set it up, and more, to help you decide if it’s right.
What is Atomic Wallet?
Atomic, established in 2017 by Changelly co-founder Konstantin Gladych, lets users manage, store, and trade cryptocurrencies without centralized exchanges. It immediately became a popular, safe, non-custodial site with over 5 million members worldwide. It supports many cryptocurrencies. With “atomic swaps,” users can trade crypto assets directly without a third party, which is why the wallet’s name originates from this. Atomic works on desktops and phones to manage crypto investments at home or on the go. Decentralized marketplaces allow better and more private trading.
Key Features of Atomic Wallet
- Non-Custodial Storage: User control over secret keys is complete in Atomic Wallet because it does not keep them. That means only you can access your funds. Hackers and others are less likely to get in.
- Multi-Currency Support: The wallet supports over 1,000 cryptocurrencies, including Bitcoin, Ethereum, Solana, and others. Atomic is ideal for folks with many coins because it works with many.
- Staking: Atomic users can stake accepted cryptocurrencies from the app. You lock up your coin for some time, depending on the asset when you stake it. This generates passive income.
- Built-in Exchange: Atomic Wallet has an exchange that enables users to purchase and sell cryptocurrencies via the app. This functionality will appeal to non-third-party exchangers.
How to Set Up Atomic Wallet?
The Atomic Wallet setup is simple. First, do these:
- You can get and set up Atomic from the website or an app store like Google Play or Apple App Store. Then, you can put it on your phone or computer.
- Open the program, and it will prompt you to create a wallet. Secure your wallet with a strong password.
- Atomic generate 12-word escape phrases. Hold onto this phrase. Lost your device? This word can help you find it. Losing this word will prevent access to your crypto assets. Could you write it down and secure it?
- Once your wallet is ready, add coins. Get cryptocurrency from another wallet or use the wallet’s exchange function to buy it now.
- Stake-supported coins from your wallet to earn passive income.
Supported Cryptocurrencies and Networks
Since Atomic supports over 1,000 coins, crypto enthusiasts can use it for numerous things. It supports Cardano (ADA), Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple (XRP), Litecoin (LTC), Polkadot (DOT), and Chainlink. It works with Ethereum, Binance Smart Chain, and Solana so that users can monitor multiple assets in diverse environments. Atomic is popular with investors who wish to spread their shares or learn about blockchain technologies.
Security Features and Privacy
Private Key Storage: Your device stores and secures private keys with AES-256. Your money won’t be accessible without your permission if someone breaks into your device.
Backup Phrase: When you set up the wallet, you get a 12-word backup phrase. This is crucial if you lose your computer and need cash back.
Regular Security Updates: Atomic Wallet fixes security issues daily by updating its software. Your belongings are secure.
Atomic Token Feature
The Atomic ecosystem relies on the AWC. You can risk it or pay transaction fees to gain AWC. AWC tokens offer better-staking payouts and cheaper exchange fees, making them useful for heavy users. AWC makes the wallet more useful and encourages Atomic Wallet community participation.
Pros and Cons of Atomic Wallet
Pros:
- Wide Cryptocurrency Support: Supports over 1000 cryptocurrencies, providing users with the flexibility to manage various assets.
- Non-Custodial: Users maintain full control over their private keys and funds.
- User-Friendly Interface: The wallet’s clean and intuitive interface is easy for both beginners and experienced users to navigate.
- Staking Rewards: Offers the ability to stake cryptocurrencies directly within the wallet, providing users with passive income opportunities.
Cons:
- No 2FA Support: The absence of two-factor authentication reduces the wallet’s overall security.
- Device Dependency: If you lose your device and haven’t backed up your recovery phase, you risk losing your funds.
- Slow Customer Support: Some users have reported slow response times from Atomic Wallet’s customer support team.
Who Should Use Atomic Wallet?
Atomic works for many people, making it versatile for coin management. Crypto traders are fresh to digital assets, especially their basic appearance and easy-to-understand features. Advanced traders may stake, execute atomic swaps, and connect to decentralized exchanges with the wallet. These features empower traders to manage their deals and advantages. Atomic Wallet’s peer-to-peer trading and decentralized design prioritize privacy and safety. Because of this, it’s useful for people who want to hide their finances.
SEE ALSO: Mycelium Wallet Review: Secure Mobile Wallet for American Investors
Final Verdict: Is Atomic Wallet Worth It?
Atomic is a superb Bitcoin wallet for security, freedom, and use. It supports numerous cryptocurrencies, offers staking and atomic exchanges, and doesn’t hold your money, making it useful for beginners and experts. Users should be aware that there is no two-factor security and that losing their smartphone could cost them money. Atomic is good for many, but not everyone.
Atomic Wallet FAQ’s
How is Atomic Wallet expensive?
Download and use Atomic Wallet for free. Swap and network fees may apply to some offers.
Can I recover my wallet if I lose my computer?
Remember your 12-word passphrase to access your wallet on another device.
Does Atomic Wallet support iOS and Android?
Atomic Wallet works on Android, iOS, and desktops.
Can Atomic Wallet buy coins?
Atomic Wallet’s built-in trading function allows fiat-crypto purchases.
