AtomicWallet is a multi-currency non-custodial cryptocurrency wallet owned by Konstantin Gladich’s company Atomic Protocol System OU, registered in Estonia. It’s a hot wallet with an integrated swap feature that allows users to exchange currencies virtually instantly. To use it, there’s no need to undergo KYC verification or create an account.
Features of AtomicWallet
AtomicWallet was launched in 2018 and has been downloaded over 5 million times. It has a reasonably broad functionality, allowing for currency purchase, exchange, storage, and withdrawal. The wallet also has its token used for bonus programs and staking. With a desktop client a mobile app, and compatibility with popular platforms, it can be installed on various devices.
The wallet allows for storing over 1,000 tokens from different networks. It also allows paying with cryptocurrency using a bank card. At the same time, the wallet remains accessible and anonymous. However, it should be noted that in June 2023, AtomicWallet was hacked, with an estimated loss exceeding 35 million dollars. The company managed to return some of the funds to the owners and strengthen its security measures.
AtomicWallet Interface and How to Use It
To start using AtomicWallet, download the application from the official website. Registration is not required. After installation, open the program and select “Create a new wallet.” During the creation process, it is important to create a secure PIN code and remember it, accept the terms of use, press “Set,” and confirm the code by clicking “Confirm.” In the mobile application, you can set up a fingerprint or Face ID login or skip this step and return to it later.
It is important to save the generated seed phrase. In AtomicWallet, it appears as a sequence of 12 unique words. This phrase grants access to crypto assets, so it should never be disclosed. It is better to store it on several different devices in secure locations. Losing the seed phrase leads to the impossibility of wallet recovery and loss of funds.
In the Atomic Wallet mobile app interface after installation, you can see five main sections:
- Wallet – the main page overview of all tokens available in the wallet.
- Buy –section for purchasing cryptocurrency with fiat.
- Exchange – exchange platform.
- Staking – section for staking.
- More – additional options and settings.
A button opens the token list in the top left corner. You can choose which ones will be displayed on the main screen. The button in the top right corner opens the transaction history.
How To Stake Crypto on Atomic Wallet – Video
To understand what staking is and how to earn from it in your own Atomic Wallet, watch the video:
Security of Atomic Wallet
After the events of 2023, the security of using Atomic Wallet is often questioned. Owners assure that the problem was minor and promptly resolved. A PIN code and biometric authorization securely protect access to wallets. If the PIN code is lost, the wallet will need to be recreated using the seed phrase.
Overall, AtomicWallet has sufficient protection. In most cases, crypto loss occurs due to owner negligence. It’s necessary to keep access codes secret, protect devices from viruses, and avoid clicking on suspicious links.
Key Technical Characteristics of the Cryptocurrency Wallet
Atomic Wallet offers a wide range of functions besides the basic ones such as receiving cryptocurrency, storage, and sending transfers:
- NFT – the ability to receive non-fungible tokens and store them; the gallery is located in the “More” section.
- Wallet Connect protocol for synchronizing the wallet with decentralized exchanges.
- Cryptocurrency exchange allows tokens exchanged within and across networks.
- Indefinite staking to receive passive income.
- Ability to buy crypto with fiat by paying with a bank card.
Atomic Wallet – Pros and Cons
AtomicWallet is one of the most popular hot cryptocurrency wallets. In addition to its extensive functionality, the following advantages can be noted:
- It is compatible with most operating systems, including popular ones like MacOS, Windows, Android, and iOS, as well as Debian, Ubuntu, and Fedora.
- Support for a large number of currencies.
- Convenient and intuitive interface.
Some users consider specific features of this cryptocurrency wallet as disadvantages:
- A limited selection of currencies can be bought with fiat – only Bitcoin, Ethereum, Litecoin, Ripple’s XRP, and Bitcoin Cash.
- Incompatibility with hardware wallets.
- Lack of Ukrainian language on the menu.
Recommend that you read our article – What Are Investments and How to Start Investing from Scratch?
Conclusion
Despite the hacking issue and subsequent scandals, AtomicWallet remains popular among users. It attracts users with its broad functionality, availability, and opportunities for passive income. Its quick currency exchange and user-friendliness deserve the best reviews.
Answers to Common Questions about Atomic Wallet
No, you cannot. The wallet only allows payments with Visa cards.
Atomic allows the use of currency from any software wallet. To do so, select the “Restore from backup” option and enter the seed phrase from your wallet.
To get help with issues or questions, contact Atomic Wallet support through their website or email.
If the wallet is accessible, you can view the phrase in the “Private keys & backup” section. If there’s a possibility that the phrase has fallen into the wrong hands, it’s better to quickly create a new wallet and transfer your crypto assets to it to protect them from theft.
