The Atomic Wallet, a decentralized cryptocurrency wallet and trade program, supports more than 500 different coins and tokens. The main part of the wallet is the decentralized exchange called Atomic Swap, after which it is named. The co-founder and CEO of Changelly, Konstantin Gladych, created the Atomic Wallet in 2017, and it is compatible with all of the main operating systems, including Windows, MacOS, Android, and iOS.
What Is Atomic Wallet
In the crypto world, the Atomic wallet has become more well-known. The Atomic Swaps offering, a DeFi exchange, is the foundation of its key features. The CEO of Changelly and a fintech genius, Konstantin Gladych, introduced the Atomic swap exchange in 2017.
The Atomic wallet allows users to purchase crypto tokens like Ethereum (ETH), Bitcoin (BTC), and Bitcoin Cash (BCH) using their fiat currency bank cards. Operating systems like macOS, Android, Windows, and iOS can be accessed quickly using the hardware wallet.
Pros & Cons Of Atomic Wallet
Pros
- Supports more than 300 cryptocurrencies
- Easy to use
- Compatile with nearly every device including Windows, Mac, Android, Linux and iOS
- Ability to purchase cryptocurrency in wallet
Cons
- Not as secure as a hardware wallet
- No hardware wallet support
- Support is mediocre
The Process Of Atomic Wallet
To make it simpler for traders and businesses to handle their Bitcoin, Ethereum, Litecoin, XRP, and other coins and tokens, Atomic Wallet, a web-based cryptocurrency wallet, was developed. Along with the USD, EUR, and other major currencies, the platform also takes local currencies from numerous other countries throughout the world.
Atomic Wallet offers payouts for staking ATOM, Tezos, TRON, BAND, and other coins with a 5-23% APR. Through the app, users may manage their finances and safeguard the privacy of their private keys. Additionally, it gives traders access to their price charts and portfolio from a single site.
Users can fortify their cryptocurrency assets through private keys thanks to the functionality of the best cryptocurrency wallets. Due to Atomic’s lack of access to the cryptocurrency wallets, this grants them full control over their assets and gives them independence.
In order to complete a secure transaction, the users’ funds are combined into the blockchain network. The user’s preferred blockchain nodes are immediately integrated with the Atomic cryptocurrency wallet. Additionally, all trading activities, including transaction history in users’ cryptocurrency wallets, can be monitored.
Atomic Wallet Security
Since we’re talking about cryptocurrency storage here, it stands to reason that one of the concerns people are most interested in finding answers to while reading reviews of Atomic wallets is, “Is Atomic wallet safe?”
Given the countless scandals and controversies that have engulfed many crypto wallets, it makes sense that security is being emphasised so heavily these days. Security has always been an important factor to take into account when choosing the best cryptocurrency wallet because it is the only thing that actually matters.
The user-generated password serves as Atomic Wallet’s first line of defense. This password is necessary for checking the status of transactions, viewing private keys, and opening the wallet. A randomly generated 12-word backup phrase that can be used to regain access to the wallet in the event that your device is lost or stolen backs up the user-created password.
The entire amount of data sent during a transaction or stored on the user’s device is encrypted. Atomic Wallet uses both AES and TLS encryption to make sure that transactions are secure. Your private keys are not stored on servers and Atomic Wallet does not have access to or store them, so your security is in your own hands.
How Is The Atomic Wallet Set Up?
Step 1: Run the installation process after downloading the wallet.
Step 2: Press “New Wallet”.
Step 3: Create a strong password – make sure to not reuse any passwords that you’d use to log in to other sites!
Step 4: The 12-word backup phrase must be written down and kept in a secure location because it will be your only chance of recovering your wallet if you lose it.
That concludes the setup process; congratulations!
Atomic Wallet User Protection & Compensation
Specific banking institutions often manage centralized bitcoin exchanges. For instance, the European operations of eToro are governed by the Cyprus Securities & Exchange Commission (CySEC). This suggests that they follow particular regulatory guidelines that offer their clients security and sometimes even payment for their investing services.
If you wish to purchase and sell financial assets on a completely regulated platform, we advise using eToro’s services.
Is Atomic Wallet legitimate if Atomic Wallet is unregulated because it is not a centralized platform? The answer is a categorical “yes.” The Uniswap decentralized exchange (DEX), Atomic Wallet, is a locked cryptocurrency wallet with a value of over $7 billion. Anyone from anywhere can create a wallet using Atomic because it is permissionless and frequently doesn’t require KYC.
Conclusion
Atomic Wallet gives you an extra level of control over your cryptocurrency assets. The eToro platform, which contains an own cryptocurrency wallet dubbed the eToro Money crypto wallet, is difficult to dismiss as the finest cryptocurrency wallet overall.
If you buy Bitcoin Cash or other cryptocurrencies on the eToro site, you can immediately deposit the coins into your eToro Money wallet. This crypto wallet features private keys for handling your money and public keys for sending and receiving cryptocurrency, just as other crypto wallets.