Dipo Olowookere
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.
