Among the investing community, Atomic Wallet is regarded as one of the best options for storing cryptocurrencies owing to its decentralized nature. The wallet has attracted millions of users across a wide range of platforms, including Windows, macOS, Android, iOS, and numerous Linux-based operating systems.
The gap between good and bad crypto wallets is widening as the market introduces a vast number of new features in 2021. According to our review of Trust Wallet, wallet developers are eager to capitalize on DeFi features, integrate dApps, and add NFT support to attract more users.
Beyond storing crypto assets in a secure and anonymous manner, blockchain wallets now need to compete by targeting long-lasting trends and niches. What is Atomic Wallet’s performance in this regard? Here is an in-depth review of Atomic Wallet to provide you with a comprehensive understanding of its capabilities and features.
The Atomic Wallet #
A decentralized non-custodial wallet, Atomic Wallet. Essentially, this means that users retain full control and ownership of their assets since the private keys are stored locally and encrypted within the device. Private keys and any other sensitive information cannot be accessed by the team or platform.
Atomic Wallet’s developers have cast a wide net while building the product. First, we were able to experience the product’s wide range of support for different devices and operating systems. This wallet is currently compatible with the following devices and operating systems:
- Windows
- macOS
- Ubuntu
- Debian
- Fedora
- Android
- iOS
When examining the wallet’s list of supported cryptocurrencies, we find another feat of incredible versatility. Besides Bitcoin, Ethereum, and all ERC-20 tokens, we also find support for assets on other blockchain networks such as Solana, Ripple, Cardano, Dogecoin, Tezos, Binance Coin, Monero, and so on. There are more than 300 cryptocurrencies currently supported by Atomic Wallet.
We also find stakeable cryptocurrencies on this list. Decentralized staking is offered by Atomic Wallet to users who want to stake their assets without paying any fees, all while receiving rewards from the validators.
Wallets allow you to select which validator to delegate your funds to. Additionally, there are also benefits of being able to unstake your assets at any time and to get in touch with 24/7 live support if you run into any problems.
At the time of writing, users can stake via Atomic Wallet on 17 Proof of Stake networks, including Zilliqa, Cardano, Solana, Tezos, Cosmos, Tron, Band Protocol, Komodo, Vechain, Polkadot, etc. While different networks offer different returns, users can expect an average yearly return of 10%.
What are Atomic Swaps #
The name Atomic Wallet originates from atomic swaps, a process that enables crypto holders to exchange funds trustlessly through the use of smart contracts. An atomic swap allows users to access liquidity pools created by other holders and bypass centralized exchanges. In spite of the fact that the term ‘atomic swap’ is no longer used, most of today’s decentralized trading is called token swapping.
Atomic Wallet lets you swap cryptocurrencies directly from the wallet when exchanging assets. This can, however, only be done with select cryptocurrencies. Other than that, the platform uses two peer-to-peer trading platforms: Changelly and ShapeShift. Konstantin Gladych, the wallet’s creator, is also the founder of Changelly.
By using this method, you can exchange cryptocurrencies without having to migrate them between centralized exchanges. It is generally more expensive than CEX, however. Atomic Wallet is also supported by most decentralized exchanges (DEXs). If you are looking to exchange tokens on Uniswap, Sushi, or PancakeSwap, you will be pleasantly surprised to find out that you can connect your wallet right away.
There is Customer Support #
There is nothing more anxiety-inducing than being your own custodian. Even though being the only person to manage your portfolio is heaven-sent, there are times in every investor’s life when issues arise – times that contribute to increased stress levels. Atomic Wallet’s team has found a way to make investors’ lives easier and less anxious by offering 24/7 live customer support.
As our products and services are particularly complex, great customer support is essential to any crypto business. Users can usually rely on DIY guides when errors occur on their end, but when the platform itself experiences bugs, you will have to rely only on the team. When it comes to wallets, customer support should be held to the highest standards.
Imagine waiting days or even weeks to hear back from a platform that allows you to utilize thousands of dollars. Just four hours can seem like a long time. Therefore, instant support is vital. If this is the case, you may contact the support team via email or live chat.
Security #
Wallets are decentralized and non-custodial, as mentioned previously. Private keys are encrypted and stored on the device so that all assets in this wallet are protected. Without your permission, neither the platform nor anyone else can access your wallet.
Hardware wallets will always be more secure than software wallets. Nevertheless, the only way you can lose crypto to a malicious user is if you download malware or install a keylogger on your device. A hacker cannot steal your money if they have never interacted with you before.
Keeping a backup of 12 random words in your wallet is a good idea. When the wallet is created, these words are created and can be used to gain access to or regain control of the wallet at any time. You should not share your backup keys anywhere, and store them in a secure location.
Conclusion #
Atomic Wallet is a one-stop shop. It offers great technical support, extensive crypto support, security, anonymity, and even features not often found in wallets, such as staking. Moreover, Atomic’s developers have publicly stated that they intend to integrate DeFi features throughout 2021, which means that this already great wallet is about to get even better.
However, we cannot ignore the fact that Atomic Wallet is currently lacking features, including those targeted at dApps and DeFi services like yield farming and crypto loans. Even though these are not commonplace in the world of blockchain wallets, it is still strange that one of the top 5 crypto wallets has not yet taken the next step. Despite this, Atomic Wallet is an outstanding wallet without them. Atomic is the best way to store cryptocurrencies. It is portable and secure.
References
A. (2021, December 23). Atomic Wallet. Atomic Wallet. https://atomicwallet.io/
Atomic Wallet. (2021, October 10). YouTube. https://www.youtube.com/channel/UCLMnUt6BBtA67eic1vRGF3g
