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 Adedapo Adesanya
The Naira weakened against the US Dollar by N3.43 or 0.25 per cent in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Tuesday, July 14, to close at N1,383.08/$1 compared with the previous day’s N1,379.65/$1.
Equally, the domestic currency depreciated against the Pound Sterling in the official market during the session by N6.80 to settle at N1,848.18/£1 versus Monday’s closing price of N1,854.98/£1, and lost N7.37 on the Euro to sell at N1,583.76/€1, in contrast to the preceding session’s N1,576.39/€1.
At the parallel market, the Nigerian Naira slumped against the Dollar yesterday by N5 to quote at N1,405/$1 compared with the previous day’s value of N1,400/$1, and at the GTBank FX desk, it traded flat at N1,388/$1.
The squeeze at the market came as demand rose. Total dollar volume hovered around $1 billion with NFEM interbank FX turnover surging to $243.095 million, up 182 per cent from $86.136 million the previous day.
The interbank deals among financial institutions or market makers also increased to 140 from 85 previously reported at the official window on Monday. This indicates a heightened rush of large-scale currency trading in the wholesale forex market.
Shifts in FX supply and demand triggered fluctuations in the NFEM window. Still, FX analysts maintained a positive outlook on the naira as gross external reserves continue to approach $52 billion.
Strong foreign reserves have supported market confidence, as foreign portfolio investors continue to flock to the fixed-income market.
There are also indications of pressure to come as after Dangote Petroleum Refinery scrapped its Naira-denominated pricing model for petrol, diesel and aviation fuel, replacing it with a Dollar-based framework that ties domestic fuel prices directly to exchange rate movements.
Meanwhile, in the crypto market, Bitcoin (BTC) jumped about 3.5 per cent to $64,723.42, while Ethereum (ETH) gained 0.5 per cent to trade at $1,873.15, after US inflation cooled more than expected, sharply reducing market odds of a near-term Federal Reserve rate hike.
June headline inflation slowed to 3.5 per cent and core inflation eased to 2.6 per cent, lifting cryptocurrencies.
Solana (SOL) rose by 3.8 per cent to $77.90, Ripple (XRP) appreciated by 3.6 per cent to $1.10, Cardano (ADA) expanded by 3.4 per cent to $0.1640, Dogecoin (DOGE) soared by 3.0 per cent to $0.0744, Binance Coin (BNB) added 1.9 per cent to sell for $579.51, and TRON (TRX) improved by 0.7 per cent to $0.3270, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited rebounded by 0.46 per cent on Tuesday despite continued weak investor sentiment due to low confidence in the market.
The gains recorded yesterday were largely impacted by significant trades in First Holdco by a major shareholder of the financial institution.
In terms of price gainers and losers, the bears won the race, as 28 equities closed in the red and 24 equities ended in the green, indicating a negative market breadth index.
Learn Africa grew by 10.00 per cent to N9.90, First Holdco expanded by 9.98 per cent to N72.15, Thomas Wyatt rose by 9.80 per cent to N2.69, RT Briscoe improved by 8.68 per cent to N13.15, and Transcorp Hotels increased by 8.37 per cent to N242.00.
Conversely, International Energy Insurance lost 9.86 per cent to close at N4.66, Legend Internet slipped by 9.18 per cent to N4.45, Fortis Global Insurance decreased by 7.67 per cent to N2.77, FTN Cocoa tumbled by 7.55 per cent to N8.21, and International Breweries dropped 4.79 per cent to trade at N13.90.
Business Post reports that First Holdco led the activity chart with a turnover of 326.9 million units worth N22.3 billion. GTCO traded 22.5 million units valued at N2.8 billion, Access Holdings transacted 18.5 million units for N461.6 million, FCMB sold 16.1 million units worth N166.8 million, and Zenith Bank exchanged 15.9 million units valued at N1.7 billion.
At the close of business, a total of 634.8 million stocks valued at N53.3 billion exchanged hands in 42,494 deals versus the 523.5 million stocks sold for N22.3 billion in 59,945 deals on Monday, indicating a shortfall in the number of deals by 29.11 per cent, and a surge in the trading volume and value by 21.26 per cent and 139.01 per cent, respectively.
The All-Share Index (ASI) was up during the trading day by 1,121.33 points to 242,870.44 points from 241,749.11 points, and the market capitalisation gained N719 billion to settle at N155.849 trillion compared with the previous day’s N155.130 trillion.
Market participants will be looking forward to the release of inflation data for June 2026 by the National Bureau of Statistics (NBS) today, Wednesday, July 15.
By Adedapo Adesanya
Oil prices climbed about 2 per cent to a one-month high on Tuesday after the US reportedly reimposed a naval blockade on Iran, which will reduce oil flows from the region through the Strait of Hormuz.
Brent futures rose by $1.43 or 1.7 per cent to settle at $84.73 per barrel, while the US West Texas Intermediate (WTI) crude increased by $1.20 or 1.5 per cent to $79.34 a barrel.
Brent closed at its highest since June 12, and WTI at its highest since June 15. The closing price increase kept Brent in technically overbought territory for a second day in a row for the first time since March.
Before the Iran war, about 20 per cent of global oil supplies flowed through the strait.
US President Donald Trump stepped back from a proposal to charge a 20 per cent fee to guard the Strait of Hormuz as part of the conflict with Iran, saying he would instead seek investment deals with Gulf states.
US forces had carried out waves of attacks for the third night after Iran said it had closed the strait. President Trump on Monday reinstated a blockade of Iranian shipping and proposed the fee, but hours before the fee was to take effect, the American President said the strait was open to all shipping traffic except that of Iran.
The renewed attacks have fed doubts that a memorandum of understanding signed last month will lead to a permanent halt in the war that has disrupted global energy supplies and stoked inflation fears.
Data showed that US consumer inflation slowed more than expected in June as energy prices retreated, but financial markets still expect an interest rate hike from the Federal Reserve.
The Federal Reserve Chairman Kevin Warsh on Tuesday vowed to “do my job” if challenged by President Trump, who has said he wants the US central bank to cut interest rates and boost economic growth.
The American Petroleum Institute (API) estimated that crude oil inventories in the US fell by 564,000 barrels in the week ending July 10. In the week prior, US crude oil inventories fell by 399,000 barrels.
Although commercial crude oil inventories excluding the SPR have been falling rapidly for three months now, shedding just over 60 million barrels over the last twelve weeks, US crude inventories are only down 9.2 million barrels so far this year. The US Energy Information Administration (EIA) will release its report later on Wednesday.
