There is a vast array of different cryptocurrency wallets for investors to choose from. Some are physical wallets, while others exist in the form of applications that we load onto our PC’s or mobile devices. The subject of this review falls into the latter group.
ATOMIC wallet is no newcomer, having been launched in 2017, by an entrepreneurial duo that is Konstantin Gladych and Charlie Shrem. With Shrem being a known business success and Gladych being a co-founder of the Changlly app, ATOMIC wallet seems to be in no shortage of talent and industry experience.
This may have had a role to play in the hype that has built up around this offering. However, a greater portion of ATOMIC wallet’s popularity may be derived from the many features that it comes laden with. Its features range from storage, to staking, swapping and Peer-to-Peer trading. Not to mention a commitment to one of the crypto-comunity’s foundation values, privacy and anonymity.
So let’s take a closer look at the ATOMIC wallet. How to set it up and what it has to offer the user, the good and the bad.
Getting Started With ATOMIC Wallet
ATOMIC wallet users have the choice of a desktop app that is compatible with MacOS, Linux, Windows, Fedora, Ubuntu and Debian operating systems. Alternatively, for on the go use, ATOMIC wallet is available for download to Android and IOS mobile devices.
The setup process is fairly easy and somewhat of a standard these days.
Step 1: Is to download the app from Google play or App store if you wish to use ATOMIC wallet on mobile. Desktop users can download the app directly from the website.
Step 2: Create your ATOMIC wallet by selecting the “Open Wallet” option.
Step 3: This part is standard procedure for all things cryptocurrency related. Creating, memorising and safe keeping a strong password.
Step 4: At this point, the app will generate a recovery phrase made up of twelve words. It is very important to take down and safeguard this phrase as it will be the only way to access your stored funds in the event of forgetting your password, or replacing your device.
Step 5: Simply click on “Next” to finalise the setup and open your ATOMIC wallet dashboard.
ATOMIC Wallet’s Key Features
For long-standing cryptocurrency enthusiasts and first time investors alike, one key feature stands out first. That feature is the number of cryptocurrencies supported on one platform. ATOMIC wallet has support for more that 300 different digital assets, including every single ERC20 token and most major cryptocurrencies
ATOMIC wallet offers a platform for more than just storing your cryptocurrency. Users are able to Stake supported assets like Tezos, VeChain and Pundi to gain rewards.
ATOMIC wallet has an integrated exchange feature that facilitates Peer-to-Peer trading and Atomic swapping (from which its name is derived).
This tool allows users to track their investment in real-time on the same interface.
Support For Card Purchases
ATOMIC wallet also supports debit card and credit card purchases through their partnership with Simplex.
Wide Geographic Support
ATOMIC wallet does not in any way limit potential users. It has no limitations to virtual networks or restrictive membership criteria. Ensuring that even those who live in regions that are not open to digital assets are not locked out.
ATOMIC Wallet Security Features
ATOMIC Wallet’s first notable security feature is that it is non-custodial by nature. This means that the user is in full control of his/her own private keys and the responsibility of their safety falls on the user.
AES Symmetric Encryption
All data regarding your ATOMIC wallet is secured using AES Symmetric Encryption technology.
Being Able To Trade Anonymously
This app was specifically designed for the privacy conscious. It will not require any kind of KYC or AML verification. In fact, ATOMIC wallet won’t even ask you for your name or email address.
The Good & The Bad Summed Up
ATOMIC wallet stands out with features anonymous trading and the fact that it supports a wide and ever growing number of digital assets. To add to this, the support for credit/debit card purchases is a great feature for streamlining the buying process, especially for beginners.
On the flip side, some may find ATOMIC wallet flawed for not supporting biometrics and Two-Factor Authentication in this day and age. ATOMIC Wallet’s swapping feature supports too few pairs and their code not being open sourced may also be a sore point for some.