Economy
Atomic Wallet App Review 2023 Presented By Traders Union Experts
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.
By Dipo Olowookere
A 0.17 per cent growth was recorded by the Nigerian Exchange (NGX) Limited on Friday, extending the stay of the local bourse in the positive territory.
This uptrend was maintained despite profit-taking in the banking sector, which left its index down by 0.23 per cent at the close of trading activities.
Business Post reports that the insurance industry expanded by 4.04 per cent during the session, the energy counter improved by 1.05 per cent, and the consumer goods space gained 0.58 per cent, while the industrial goods sector closed flat.
Consequently, the All-Share Index (ASI) went up by 170.62 points to 102,353.68 points from 102,183.06 points and the market capitalisation grew by N541 billion to N62.851 trillion from N62.310 trillion.
There were 34 price gainers and 22 price losers yesterday, indicating a positive market breadth index and strong investor sentiment.
The trio of Caverton, Livestock Feeds and Sovereign Trust Insurance appreciated by 10.00 per cent each during the session to quote at N2.20, N5.94, and N1.10, respectively, as Neimeth jumped by 994 per cent to N3.43, and Royal Exchange increased by 9.88 per cent to 89 Kobo.
On its part, Academy Press lost 9.74 per cent to close at N3.15, PZ Cussons declined by 9.09 per cent to N25.00, DAAR Communications weakened by 8.64 per cent to 74 Kobo, Transcorp Power shed 5.91 per cent to settle at N46.95, and Dangote Sugar fell by 4.94 per cent to N38.50.
A total of 327.8 million shares valued at N11.8 billion were traded in 11,905 deals on Friday versus the 472.2 million shares worth N16.7 billion transacted in 12,336 deals on Thursday, representing a decline in the trading volume, value, and number of deals by 30.58 per cent, 29.34 per cent and 3.49 per cent apiece.
Access Holdings recorded the highest sales with 49.1 million stocks sold for N1.2 billion, Fidelity Bank exchanged 20.4 million shares valued at N359.0 million, UBA traded 20.1 million equities worth N681.0 million, Oando transacted 14.8 million shares for N998.1 million, and Universal Insurance traded 13.8 million stocks worth N8.7 million.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange extended its upward movement with a 0.26 per cent gain on Friday, January 17 amid renewed interest in unlisted stocks.
This raised the market capitalisation of the trading platform by N2.79 billion at the close of business to N1.075 trillion from the N1.072 trillion it closed in the preceding session.
In the same vein, the NASD Unlisted Security Index (NSI) went up by 8.08 points at the close of transactions to 3,111.91 points from the 3,103.83 points recorded at the previous session.
Yesterday, the volume of securities traded by investors went down by 606 per cent to 486,215 units from 1.2 million units, the value of shares shrank by 84.7 per cent to N2.8 million from N18.0 million, and the number of deals decreased by 65 per cent to 14 deals from the 33 deals carried out a day earlier.
In the final trading day of the week, there were three price gainers and one price loser, Geo-Fluids Plc, which lost 9 Kobo to finish at N4.70 per unit versus the preceding session’s price of N4.79 per unit.
On the flip side, Okitipupa Plc gained N3.60 to settle at N39.59 per share compared with the previous day’s N35.99 per share, Industrial and General Insurance (IGI) Plc added 3 Kobo to wrap at 36 Kobo per unit compared with the preceding session’s 33 Kobo per share, as FrieslandCampina Wamco Nigeria Plc improved its value by 49 Kobo to N39.65 per unit from N39.16 per unit.
At the close of business, FrieslandCampina Wamco Nigeria Plc remained the most active stock by value (year-to-date) with 3.4 million units worth N134.9 million, trailed by Geo-Fluids Plc with 8.9 million units valued at N43.0 million, and Afriland Properties Plc with 690,825 sold for N11.1 million.
The most active stock by volume (year-to-date) remained IGI Plc with 23.5 million units worth N5.3 million, followed by Geo-Fluids Plc with 8.9 million units valued at N43.0 million, and FrieslandCampina Wamco Nigeria Plc with 3.4 million units sold for N134.9 million.
By Adedapo Adesanya
The Naira extended its appreciation against the US Dollar by 0.06 per cent or N89 Kobo on the US Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, January 17, trading at N1,547.58/$1 compared with the previous day’s value of N1,548.47/$1.
Market analysts expect that the Naira will appreciate in the first quarter of the year, backed by continued policy support by the Central Bank of Nigeria (CBN).
Vestance Nigeria, an agribusiness advisory firm, projects that the exchange rate will trade between N1,650/$1 and N1,750/$1 this year in its Resilience and Recovery for Agribusiness in 2025 outlook report.
“The Central Bank of Nigeria (CBN) will continue implementing reforms to enhance exchange rate market transparency while maintaining higher interest rates to curb inflationary pressures and attract foreign portfolio management,” it said.
Also, the Nigerian currency improved its value against the Pound Sterling by N20.84 to wrap the session at N1,883.59/£1 versus the preceding day’s N1,904.43/£1 and against the Euro, the Nigerian currency gained N10.45 to settle at N1,590.34/€1, in contrast to Thursday’s closing price of N1,600.79/€1.
In the parallel market, the domestic currency appreciated against the greenback by N5 yesterday to sell for N1,675/$1 compared with the N1,675/$1 it was traded a day earlier.
As for the cryptocurrency market, there was profit-taking amid excitement for a new era of crypto-friendly US government mounts ahead of Donald Trump’s inauguration next week.
Crypto investors expect a change from Mr Trump who promised on the campaign trail to position the US as a leader in the crypto space including creating a national stockpile of Bitcoin, in stark contrast to past years’ regulatory crackdowns and enforcements.
Litecoin (LTC) fell by 9.9 per cent to trade at $124.56, Ripple (XRP) slumped by 6.2 per cent to $3.10, Cardano (ADA) dipped by 4.9 per cent to $1.06, Ethereum (ETH) dropped 3.1 per cent to finish at $3,270.61, Binance Coin (BNB) went down by 2.3 per cent to $698.57 and Dogecoin (DOGE) depreciated by 2.2 per cent to $0.3927.
However, Solana (SOL) rose by 8.8 per cent to end at $235.12, Bitcoin (BTC) expanded by 0.8 per cent to $102,494.03, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) sold flat at $1.00 each.
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