Looking for a simple and secure online cryptocurrency wallet? Worry not, we’ve got you covered. Today, we present you with the best online cryptocurrency storage solution – Atomic Wallet.
This wallet receives appreciation from the majority of its users because of its unique yet simple services. It is downloadable on a variety of operating systems like Windows, Mac OS, Android, Ubuntu, and iOS.
You can use this wallet to store and manage over 300 cryptocurrencies. Take a look at our comprehensive guide about Atomic Wallet.
What is an Atomic Wallet?
Atomic wallet is your one-stop solution for storing cryptocurrencies. Along with storing and managing services. Atomic wallet also provides exchange services allowing atomic swaps, which means you can buy and sell cryptocurrencies directly through this wallet.
However, these atomic swaps are possible only for cryptocurrencies like Bitcoin, Litecoin, and QTUM. It was launched in the year 2014 and has been growing and adapting to every change in the crypto market.
This cryptocurrency storage app was created by the same man who founded Changelly – another well-known cryptocurrency exchange. Yes, you guessed it right, Konstantin Gladych created an Atomic wallet. He is a well-known person in the crypto community and has solid experience in blockchain technology and IT.
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What Wallet Type is Atomic Wallet?
Atomic Wallet is a decentralized cryptocurrency wallet that also has a built-in exchange system. You can manage, exchange and stake your crypto assets through this wallet.
This app was built with the idea of security, amenity, and decentralization, which implies that you own your own backup phrase and private key and therefore you have total control over your funds.
Atomic wallet offers its users with storage facility for over 300 types of assets, including well-known coins and all ERC-20 tokens.This wallet is very simple to use even for novice users.
Fee Structure of Atomic Wallet
Atomic wallet can be downloaded free of cost from its official website. Like most software-based wallets in the market Atomic wallet too has no charges at all! Which is a good thing.
However, readers must note that some crypto transactions do incur charges.Below are the transactions which cost you a minimal sum of money:
- Purchasing cryptocurrency via credit card costs you 7% commission + 10$ fee.
- Peer–to–peer transactions through wallet can cost you a fee depending upon the currency and option selected.
- Atomic swaps are possible only between BTC, LTC, and QTUM. The fees charged may vary but is generally very low. Also, trades are conducted at the prevailing market price.
How Do I Open an Atomic Wallet Account?
Now that you’ve made up your mind to select Atomic wallet as your best option, let’s see how to set up an account.
Setting up an account on Atomic Wallet is very easy and simple to learn.
Step 1: Download the wallet according to your OS and install in on your device.
Step 2: Select ‘New Wallet’
Step 3: Create a strong Password (make sure you do not use a password which you frequently use for your other accounts. Create a unique password)
Step 4: After clicking on ‘Set password’ and 12-word long backup phrase will appear on your screen. Memorize it well or keep it somewhere safe.
Step 5: Now, relax because you have successfully created an account on Atomic Wallet.
How Do I Add Cryptocurrencies to My Wallet?
Frankly speaking buying and selling cryptocurrencies is as simple as setting up the account.
Step 1: Login to you Atomic Wallet account.
Step 2: A list of coins appears in front of you with a ‘unique address’ besides the name of each coin.
Step 3: If you wish to transfer your coins from any other wallet or exchange simply copy the public address of your desired coin and paste it on the ‘send’ option of the other platform.
And that’s it. Your coins will be transferred to Atomic Wallet.
How Do I Send Payments on Atomic Wallet?
After discussing the method of adding cryptocurrencies to your account let us now go forward and learn how to make payments through the app
Step 1: Login to you Atomic Wallet account.
Step 2: A list of coin appears. Select the coin you wish to send from the list of cryptocurrencies that appears in front of you.
Step 3: When you click on any crypto coin it will expand and ask you some details about the transaction. Input the address of the destination where you wish to send your coins and the amount.
Step 4: After confirming both the details type your password and click ‘Send’
The cryptocurrency has reached your desired location successfully.
How Do I Receive Payments on Atomic Wallet?
Step 1: Open your wallet
Step 2: Select the coin you wish to add from the list of coins that appears in front of you. You can even use the search bar for quick results.
Step 3: After clicking on the coin you will see detailed info about the coin. Click on the ‘Receive’ option to view your public address and deposit the asset.
Step 4: Click on the address that appears in front of you. You can even scan the QR code.
Step 5: Now return to the place from where you are sending your coin and type in your address in the ‘send’ field.
Step 6: After hitting the ‘send’ option your assets will be safely transferred to Atomic Wallet.
You can track your transaction history by going to your ‘history section’ It might take up to 30 minutes for this transaction to be reflected in your account.
How Safe is Atomic Wallet?
Crypto wallets have always been in constant controversy regarding security breaches. This is why security is giving the most important while developing any crypto wallet. Past attacks on other crypto wallets make us question how secure Atomic wallet really is?
As compared to other crypto wallets, Atomic wallet is more secure. This is because it is a software wallet which means you need to download this program, install it and then create an account here. With a software wallet, the risk of hacking is reduced to the minimum.
That being said there are other factors too that ensure the safety of your wallet which are – your computer needs to be clean from any malware or keylogger. Let us take a look at other security features Atomic wallet offers:
Password – Users can create a strong password while signing up for an account on the wallet.
Private Keys – Atomic Wallet gives full control of the private keys of the account holder to the account holder and does not store it on their server. Instead, the keys generated are stored on the user’s computer.
Anonymous Trading – There is no need to fill up any personal details like name or email ID through KYC or pass any AML tests.
Non-custodial – This means the company does not store the private keys of its users on its servers. Instead, the users will have full control over their private keys.
Encryption – Atomic Wallet uses AES Symmetric encryption technology to protect the user’s account from any unauthorized entry.
Atomic Wallet PROs and CONs
PROs
- Secure, Powerful and User-friendly
- Provides the option of Atomic Swaps
- Supports decentralized trading of other coins
- No user data stored on company servers
- Has a wide range of coins to select from
- 24/7 live customer support
CONs
- The company is not responsible for your wallet’s security.
- You need to keep your password and backup phrase safe or you will not get access to your account.
- There is no clear information about the fee system.
- Option for atomic swap is limited to three cryptocurrencies.
- Not compatible with mobile phones.
FAQs
1. Where can I download Atomic wallet?
You can download Atomic wallet directly from their official website at zero cost. Also please keep in mind that, you don’t need to pay any account opening fees. This wallet is available only for PCs.
2. My Atomic wallet froze. What should I do?
Please check you internet connection and max network coverage. To test it out try switching between mobile data and Wi-Fi.
Check that your system meets all the requirements because having an old operating system may lead to issue in the software.
If none of the above steps work, uninstall your Atomic Wallet app and download the latest version of the app.
3. How do I reset my Atomic Wallet Password?
To reset your password – Login to your account – security – enter the old password twice – Click ‘Change Password’.
4. Where to find my private keys to Atomic Wallet?
Open your Atomic wallet account – Click settings – click on ‘Private keys’ – Type your password carefully and click on ‘show private keys’
You will now see your private key for each coin and your 12-word backup phrase.
5. How does Atomic Swap work on Atomic Wallet?
This is a new technology where exchange of cryptocurrencies take place without the need of any third party. You can explain coins by incurring a small fee without any centralized exchange.
At the moment atomic swaps are available for only 3 coins (BTC, LTC and QTUM).
6. How can I change my wallet’s backup phrase?
The only way to change your 12 word backup phrase is by creating a new account. For each wallet a 12 word backup phrase is generate only once and you cannot change it thereafter.
7. How do I export my Atomic Wallet Account to other PC?
To move your account from one account to other simply install the Atomic Wallet app on that device. Once you get the login screen click on Restore form Backup.
After that you will be asked to input your 12 word Backup phrase. Once you enter the correct phrase you will instantly get access to your account.
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Conclusion
To summarize, Atomic wallet is one of the best software wallets you could get in the market today.
This wallet gets a full star rating from us and we definitely recommend this to you if you’re looking for a brand new software wallet!