Atomic Wallet Review 2022 – Features, Safety, Pros & Cons

A sleek, user-friendly platform for managing all of your cryptocurrency assets is offered by Atomic Wallet. You can earn rewards on more than a dozen of them through crypto staking, and it supports hundreds of cryptocurrencies. There are also options for buying cryptocurrency and for an integrated exchange.

What is Atomic Wallet?

More than 500 cryptocurrency coins are held by the instant cryptocurrency exchange platform Atomic Wallet. It’s a decentralized exchange with strong security safeguards and a user interface made for crypto enthusiasts. Among the services provided by Atomic are the simple swapping of more than 60 cryptoassets, Proof-of-Stake (PoS) assets, and fiat currencies from 18 renowned international marketplaces. You can see that it also provides cashback for exchange in this Atomic Wallet Review. Atomic’s primary goal is to create a strong, multifaceted realm that can hasten the widespread appropriation of cryptocurrency.

Through Atomic Wallet’s partner Simplex, you can purchase cryptocurrency with your debit card directly from Atomic Wallet. Although this is practical, there is a 2% transaction fee in addition to any fees your bank levies. Consider using cryptocurrency apps with lower fees if you plan to invest in cryptocurrency frequently and make frequent purchases.

Growing your cryptocurrency holdings is a common strategy that involves staking. When you stake cryptocurrency, you’re using it as collateral, assisting with transaction validation, and securing a blockchain network. On the staked amount, you are rewarded in return. All of this is quickly and easily possible with Atomic Wallet, which supports staking with more than a dozen different cryptocurrencies.

How Does Atomic Wallet Work?

Users can strengthen their crypto assets through private keys thanks to the functionality of top cryptocurrency wallets. Because Atomic does not have access to their assets, they have full control over them. They also enjoy independence from Atomic.

The blockchain network combines the users’ funds for a secure transaction. The user’s preferred blockchain nodes are instantly integrated with the Atomic cryptocurrency wallet. Furthermore, the user’s cryptocurrency wallets allow for the tracking of all trading activities, including transaction history.

With the aid of Atomic associates, a variety of other cryptocurrency trading endeavors, including the acquisition of significant cryptocurrency exchanges, can be carried out in addition to the execution of blockchain transactions.

Pros And Cons Of Atomic Wallet

Pros

  • Atomic Wallet is straightforward with an interface that is simple to navigate
  • Your private keys are encrypted and saved on your device
  • It is easy to set up and use
  • You can stake and receive cryptocurrency rewards.

Cons

  • Standard support features rendered
  • Does not render hardware wallet support
  • Only specific cryptocurrencies are available to buy in the wallet

How to Use the Atomic Wallet?

A decentralized exchange for several major currencies, the Atomic wallet supports more than 500 tokens from every blockchain network. In terms of establishing cross-chain Atomic swaps, the wallet is a preeminent leader. The user can exchange a single cryptocurrency for another without using a centralized exchange thanks to the inventive smart-contract technology provided by Atomic swap.

Investors can manage their cryptocurrency exchanges, stake cryptocurrencies, and purchase cryptocurrencies for investment through the Atomic wallet. The user’s device can download the software from the website or an app to access the facilities.

How to Set Up the Atomic Wallet?

Step 1: Visit https to download Atomic Wallet.//atomicwallet.io and clicking [[Download] is located in the upper right corner.

Step 2: You will then be presented with a screen where you can select where you want to download the wallet. We used MacOS for the purposes of this review, but regardless of which step you choose, setup takes about the same amount of time.

Step 3: For Atomic Wallet to start downloading, click [Allow].

Step 4: Create a wallet password; keep in mind that this is distinct from your 12-word phrase, which will appear on the following screen. Set password. Source: atomicwallet.io

Step 5: Your 12-word emergency phrase should be written down and kept in a secure location. Consequently, you can still access your account even if you misplace your device. Once you have written down your 12-word backup phrase, click [Open Wallet] to access the clipboard and copy the password. Source: atomicwallet.io

Step 6: You will now be taken to the wallet’s home screen, where all of its features—including exchange, purchase of cryptocurrency, staking, and history—are conveniently available. It only takes a minute to set everything up; all you need to do is have your 12-word backup phrase ready to write down.

Atomic Wallet Fees

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 significantly less expensive. Depending on the currency and the options chosen, in-wallet peer-to-peer currency trades may also incur a variety of fees.

Atomic Wallet Security

The digital exchange platform is, in actuality, very well protected. Providing access to blockchain networks and cryptocurrency funds, it is a secure interface.

However, the user must exercise caution and conduct independent research while 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 allows for expert risk management of cryptocurrency trading. Private keys are made available by the Atomic wallet and are encrypted files stored on the user’s electronic device.

When they lose access, they must safeguard the subsidy backup phrase password that was initially given to the Atomic wallet platform. The user’s Atomic wallet can be accessed using this subsidy backup phrase password. To keep the backup phrase secure, one should have a physical copy on hand, which they should store in a safe deposit box separate from their fiat accounts.

Why Are Atomic Wallet Users Using It?

Since its release, Atomic Wallet has experienced a rise in demand due to the fact that more people are looking for alternatives to conventional methods of buying, storing, and receiving cryptocurrency that do not involve the potential complications associated with using a centralized exchange (CEX) or wallet.

As a result, Atomic Wallet is trusted by more than 3 million users across the globe, with over 11,000 reviews on Trustpilot has a very high rating.

Being a non-custodial decentralized wallet, Atomic Wallet implies that the user has total control over their backup phrase and private keys, and consequently over their own money.

FAQs About Atomic Wallet

Who are the typical users of Atomic Wallet

The typical clients of Atomic Wallet include the following: Freelancers, Small Business

Is Atomic Wallet free?

Yes, you can use Atomic Wallet to store your coins and tokens for free. However, Atomic Wallets partner Simplex has set a 2% fee for cryptocurrency purchases.

Can I stake cryptocurrency with Atomic Wallet?

Yes, users can stake up to 13 different coins and tokens on the wallet; additional coins and tokens will be added soon. Users choose the verified validator where to delegate the funds without paying any fees, and staking rewards range from 5-23% APY.

Does Atomic Wallet Offer an API?

No, Atomic Wallet does not offer an API.

Final Thoughts

Since anyone can buy cryptocurrencies directly in the wallet using a credit card, in our opinion, Atomic Wallet’s user-friendly design and general simplicity give users who are unfamiliar with cryptocurrency the means to start trading almost immediately after installing the app.

Except for network transaction fees, using the wallet is free. Although it supports more than 500 coins and tokens, it also offers additional exchanges in addition to Atomic Swap in an effort to accommodate the widest range of cryptocurrency assets.

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