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Atomic Wallet App Review 2023 Presented By Traders Union Experts

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Atomic Wallet

Atomic Wallet, a non-custodial, cross-platform cryptocurrency wallet developed by an Estonian team in 2018, supports exchange transactions and token holding. Built on its unique blockchain and Atomic Swap protocol, it facilitates rapid, direct transactions without intermediaries.

The Atomic Wallet app reviewed by Traders Union offers an efficient means to minimize transaction fees. Both desktop and mobile versions are standalone, and not tied to any crypto startup.

Things to know about Atomic Wallet

Traders Union presents an in-depth look into the robust capabilities of Atomic Wallet, a multifaceted cryptocurrency platform:

  • Atomic Wallet, a decentralized platform, supports over 300 tokens and altcoins, offering a vast array of investment choices.
  • It incorporates a built-in exchange mechanism permitting immediate swaps between cryptocurrencies and fiat money, supporting over 18 fiat currencies such as USD, EUR, and RUB, with a low spread to ensure favorable conversion rates.
  • Unlike many exchanges, Atomic Wallet champions anonymity. Users need not provide extensive personal data for verification; only a photo is required. Post password and key generation, the user assumes complete responsibility for their account, adhering to the principles of decentralization.
  • Atomic Wallet facilitates the staking of more than 30 currencies with attractive profitability rates. Long-term investors (one month or more) can potentially earn an additional 5-10%. The wallet maintains its own pool of validators ensuring maximum liquidity, quick verification, swift transaction confirmation, and fair reward distribution.
  • Lastly, Atomic Wallet has its proprietary token, AWC. Holding AWC provides users with exclusive benefits such as discounts and cashback, amplifying the overall user experience.

Is Atomic Wallet safe?

TU experts assess the safety features of Atomic Wallet, an innovative cryptocurrency platform:

  • Atomic Wallet demands standard registration security measures like password and seed phrase generation, and minimal verification through photo submission.
  • The wallet, however, lacks two-factor authentication. No additional confirmation through email or phone is available, marking a potential security concern.
  • Atomic Wallet doesn’t collect user data during registration, hence your email, phone number, or address aren’t needed.
  • Atomic Wallet supports cold storage, allowing you to maintain access to your cryptocurrencies offline.
  • While Atomic Wallet has not yet suffered any hacks, risks are inherent, such as phishing sites, accidental password disclosure, or malware.
  • Atomic Wallet’s Terms of Service highlight certain limits to its liability. Users are advised to carefully review all regulating documents before investing.

Atomic features: A short review

TU analysts delve into the primary and secondary features of Atomic Wallet, along with its incentive systems:

  • Atomic Wallet serves as both a hot and cold wallet for short-term trading and long-term storage of cryptocurrencies, requiring minimal setup and verification.
  • It enables the purchase of cryptocurrencies via Visa/MasterCard through the ShapeShift exchange.
  • Staking, an auxiliary feature, offers passive income. With 13 coins currently available for staking, users can earn 0.5%-20% profitability, paid in cryptocurrency every 3-7 days.
  • Atomic Wallet features a cashback loyalty program, offering up to 1% commission compensation to holders of its native AWC token.
  • The wallet proposes four tiered statuses—Blue to Platinum—for active AWC investors, promising average payback periods of 6-12 months thanks to the multi-level reward system.

What are the costs of Atomic Wallet?

Atomic Wallet charges a 2% commission per transaction, with the amount determined in the transaction currency, or a minimum fee of 10 USD. However, the exact fee amount is only displayed in the wallet. While no other fees are charged by Atomic Wallet itself, users should note that additional fees may be applied by their chosen payment system or payment provider.

In addition to the Atomic Wallet review, Traders Union has also published a MetaMask wallet review on their website. This review provides an insightful analysis of MetaMask’s functionalities, user interface, and security features, offering traders a comprehensive understanding of this Ethereum-based wallet.

Conclusion

The Atomic Wallet app offers a robust platform for managing a diverse array of cryptocurrencies, with features such as built-in exchanges, staking options, and a cashback loyalty program. However, users should be aware of its potential security limitations. For more in-depth reviews of cryptocurrency wallets and trading platforms, be sure to visit the Traders Union website.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

Economy

Dangote Packaging Explores Polypropylene Bag Exports to African Markets

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Dangote Packaging

By Modupe Gbadeyanka

Following a production capacity boost facilitated by new machinery being commissioned in the two manufacturing plants, Dangote Packaging Limited (DPL) is planning to expand into the African export market.

With its production now up to 52 million polypropylene bags per month from 36 million, the management is exploring pushing the excess to other African markets to boost the Nigerian economy, particularly for foreign exchange (FX) earnings.

“With the current increase in production capacity, DPL is ready to explore markets across West, Central, and Southern Africa.

“Once domestic demand is met, it is only logical to channel our surplus to new territories. To this end, we have engaged an export team to lead the charge,” the chairman of the company’s board, Mr Robert Ade-Odiachi, said during a strategic board meeting held last Wednesday.

According to him, the entry into export markets will be backed by world-class standards, also hinting at the possibility of offering trade concessions to fast-track market penetration in target export regions.

“We are equipped with state-of-the-art machinery, skilled manpower, and robust systems. Our product quality is unmatched, and our pricing remains competitive,” he added.

DPL’s expansion is part of a wider strategic alignment with the growing demands of the Dangote Group’s industrial portfolio. The increase in production is expected to support the Group’s internal supply chain while also positioning DPL as a regional packaging powerhouse.

“With our refinery and petrochemical plants now supplying key raw materials, we have achieved self-sufficiency, further reinforcing our long-term growth prospects,” Mr Ade-Odiachi said.

Also speaking at the meeting, Dangote Group Treasurer and DPL Board Member, Mr Mustapha Matawalle, stressed the economic benefits of the expansion.

“This is not just about market dominance and revenue generation,” he said. “It’s also about creating jobs and boosting Nigeria’s foreign exchange earnings through export activity,” he stated, lauding DPL’s commitment to Health, Safety, Security, and Environmental (HSSE) standards, noting that operations remain fully compliant with regulatory expectations.

The company’s new push follows the commissioning of advanced machinery in April, an event where DPL Managing Director, Mr Sai Prakash, described the equipment as cutting-edge and pivotal to enhanced productivity and product quality.

“With our rapidly expanding capabilities, stepping into the African market is a natural and timely progression,” Mr Sai Prakash said.

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Economy

Retail vs. Institutional Forex Trading: What Nigerian Traders Need to Know

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retail Forex Trading

Most traders in Nigeria are retail traders. They use personal money and trade on online platforms. Understanding how retail trading compares to institutional trading helps new traders make better choices. Knowing the differences also helps traders set realistic goals and avoid common traps. Retail traders do not have the same power, tools, or market influence as institutions, but they can still grow their accounts with smart choices and consistent habits. This article will explain the key differences and how Nigerian retail traders can succeed by focusing on skill, discipline, and risk control.

What Is Retail Forex Trading?

Retail traders trade with their own money, usually in small amounts. They use mobile apps or desktop platforms like MetaTrader to buy and sell financial instruments. Retail trading is open to anyone with internet access and a small deposit, which makes it popular in Nigeria. However, retail traders usually have limited access to financial data, trading tools, and fast execution speeds.

What Is Institutional Trading?

Institutional trading is carried out by banks, hedge funds, and large financial firms. These institutions trade large volumes of money and have direct access to liquidity providers. They use advanced tools, private data feeds, and faster order execution. Their trading decisions are often based on deep market analysis and are supported by teams of professionals.

Key Differences Between Retail and Institutional Trading

  1. Capital: Institutions manage millions or even billions in assets. In contrast, retail traders often begin with as little as $100 or $1,000. The amount of capital affects how trades are placed and how much risk is taken.
  2. Tools and Access: Institutional traders use advanced trading software, direct market access, and exclusive data sources. Retail traders work with public platforms and slower data, which can limit their reaction time.
  3. Market Impact: Institutional traders place large orders that can influence price movement. Retail traders do not affect market direction due to the smaller size of their trades.
  4. Costs: Institutions pay lower fees and spreads because they trade in bulk. Retail traders usually face higher costs per trade, including wider spreads and commissions.

Can Retail FX Traders Succeed?

Yes, retail traders can succeed if they follow a clear plan and manage risk properly. Many individuals in Nigeria have turned small accounts into meaningful profits by being consistent and disciplined. They focus on learning, testing strategies, and avoiding emotional decisions. You can read about successful forex traders from Nigeria.

Tips for Retail Traders in Nigeria

Retail traders in Nigeria should focus on using a simple strategy that they understand clearly. They should risk only a small amount of their capital on each trade to avoid large losses. It is important to trade without emotion and to treat each trade as a learning opportunity to improve future decisions. Keeping a trading journal can also help track progress and find patterns in both success and failure.

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Economy

SEC to Discuss Unregistered Investment Schemes at First CMC Meeting of 2025

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CMC Meeting

By Aduragbemi Omiyale

The first Capital Market Committee (CMC) meeting of 2025 in Nigeria will take place on Monday, May 19, the Securities and Exchange Commission (SEC) has confirmed.

One of the major issues to be discussed at the gathering is the activities of unregistered investment schemes in the country.

This is coming a few weeks after many Nigerians fell victims of a popular Ponzi scheme, Crypto Bridge Exchange (CBEX).

It was speculated that the organisation went away with funds belonging to Nigerian investors worth about $1 billion. Victims could not withdraw their money from their wallets with the platform.

At the CMC meeting taking place less than two weeks’ time, the capital market regulator will explore ways to better inform Nigerians on available authorised capital market products.

“The meeting will focus on critical issues affecting the market and ensure that those concerns are thoroughly addressed.

“Participants will also deliberate on the activities of unregistered investment schemes and explore ways to better inform Nigerians on available capital market products,” parts of the notice from SEC read.

In addition, the committee will deliberate on the implementation of the Investments and Securities Act 2025, recently signed by President Bola Tinubu.

Further, participants will brainstorm on strategies to drive capital market growth in line with Mr Tinubu’s Renewed Hope Agenda.

Also, the meeting will review the market’s current regulatory landscape and develop strategies to attract investments, improve market efficiency, and protect investors.

The team will, equally, examine reports from technical committees, market infrastructures, and industry observers to guide discussions on emerging market trends and regulatory reforms.

Business Post reports that expected at the CMC meeting are capital market operators, trade groups, investment advisers, fund and portfolio managers, and custodians.

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