Atomic Wallet is a distinguished decentralized cryptocurrency wallet that established widespread acceptance among the investing community, often being regarded as one of the best options for storing cryptocurrencies. With a clear focus on security, decentralization, and anonymity, the wallet succeeded in attracting millions of users from all kinds of platforms, including Windows, macOS, Android, iOS, and numerous Linux-based operating systems.
As the market introduces a vast number of new features in 2021, the gap between good and bad crypto wallets is becoming wider. While reviewing Trust Wallet, we have discovered that wallet developers are keen on capitalizing on DeFi features, integrating dApps, and adding NFT support to attract more customers.
It is now apparent that apart from providing secure and anonymous crypto asset storage, blockchain wallets now also have to compete by targeting long-lasting trends and niches. The question is, how does Atomic Wallet fare in this regard? To provide you with a concise grasp of the platform's capabilities and features, we have decided to write an in-depth review of Atomic Wallet.
What Is Atomic Wallet?
Atomic Wallet is a non-custodial decentralized wallet. In essence, this means that users retain full ownership and control over their assets, as the private keys are backed locally and encrypted within a data file on the respective device. Neither the team nor the platform itself is capable of accessing these private keys or any other kind of sensitive information.
The developers behind Atomic Wallet have cast a wide net while building their product. The first example of versatility that we had the chance to encounter is the product's wide range of support for different devices and operating systems. At the time of writing, Atomic Wallet is available on:
We find the next feat of incredible versatility while assessing the wallet's list of supported cryptocurrencies. Apart from Bitcoin, Ethereum, and all ERC-20 tokens, we also find support for assets from many other blockchain networks like Solana, Ripple, Cardano, Dogecoin, Tezos, Binance Coin, Monero, and so on. As a matter of fact, Atomic Wallet currently supports more than 300 cryptocurrencies in total.
Among this list, we also find cryptocurrencies that can be staked. Atomic Wallet offers decentralized staking to users looking to stake their assets without any fees, all while receiving rewards directly from the validators.
The wallet allows you to choose which validator to delegate your funds to. Moreover, there is also the benefit of being able to unstake your assets at any time and to get in touch with 24/7 live support in the case that you face 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. Different networks offer different returns, but on average, users can expect a yearly ROI of 10%.
Atomic Wallet derives its name from atomic swaps, a process that enables crypto holders to exchange funds trustlessly through the use of smart contracts. By executing an atomic swap, users access liquidity pools created by other holders and effectively bypass centralized exchanges. Although the word 'atomic swap' disappeared from the face of the earth, most of today's decentralized trading is referred to as token swapping.
But let's get back to the topic at hand. In the context of exchanging assets, Atomic Wallet allows you to swap cryptocurrencies directly from the wallet. However, this type of exchange can only be conducted for select cryptocurrencies. For everything else, the platform utilizes two peer-to-peer trading platforms: Changelly and ShapeShift. On a side note, the wallet's creator Konstantin Gladych is also the founder of Changelly.
Exchanging cryptocurrencies this way, rather than migrating them back and forth between centralized exchanges, is incredibly fast and easy. However, the fees are generally higher than what you would encounter on a CEX. Another benefit is that most decentralized exchanges (DEXs) support Atomic Wallet. So if you are looking to swap tokens on Uniswap, Sushi, or PancakeSwap you will be pleasantly surprised after finding out that it's possible to connect your wallet right away.
There is nothing more panic-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 emerge - times that max out your stress levels. Thankfully enough, the team behind Atomic Wallet has found a way to make the lives of investors easier and less anxious by offering 24/7 live customer support.
Great customer support is essential in any crypto business as the products and services that we use are especially complicated. Most of the time, users can rely on DIY guides when errors spawn from the user's end, but when the platform itself experiences bugs, you have absolutely no one to rely on other than the team. Truth be told, customer support should be held to the highest standards, especially when it comes to wallets.
Imagine having to wait anywhere from a few days to an entire week to hear back from a platform that assists you with utilizing thousands of dollars. Even mere hours turn out to be long enough to induce suffering. That is why support, especially the instant kind, is critical. In this case, the support team can be contacted either through email or live chat.
Is Atomic Wallet Safe?
Is Atomic Wallet safe? As mentioned previously, the wallet is decentralized and non-custodial. All assets stored on this wallet are protected by encrypted private keys that are stored locally on the device. Neither the platform nor anyone else can obtain access to your wallet without your admission.
Software wallets will never be as secure as hardware wallets. Nevertheless, the only event in which you can lose crypto to a malicious user is if you download malware or have a keylogger hidden on your device. Otherwise, stealing your funds is impossible for a hacker without any previous interaction.
Do keep in mind that your wallet contains a string of 12 random words that act as your personal backup. These words are created upon creating the wallet and can be used at any time to regain access or gain access to the wallet from a different device. Again, it is wise not to share your backup keys anywhere and to store them in a secure location.
Atomic Wallet has it all. Users benefit from great technical support, extensive crypto support, security, anonymity, and even features not commonly found among wallets like staking. The developers behind Atomic have also publicly announced that they have plans for integrating DeFi features throughout 2021, which means that this great wallet is about to get even better.
However, one aspect that we cannot simply look away from is Atomic Wallet's current lack of features, primarily those targeting dApps and DeFi services like yield farming and crypto loans. Although these are not commonplace in the world of blockchain wallets it is still strange to see that one of the top 5 wallets in crypto has still not upped the ante. Nevertheless, Atomic Wallet is excellent even without those features. For anyone looking for a portable and secure way to store cryptocurrencies, you cannot possibly go wrong by using Atomic.
About The Author:
Marko is a crypto enthusiast who has been involved in the blockchain industry since 2018. When not charting, tweeting on CT, or researching Solana NFTs, he likes to read about psychology, InfoSec, and geopolitics.