Atomic Wallet Review 2022


type of wallet Software wallet with mobile and desktop versions
Price Free
Fee Network fees for sending, staking and converting crypto. Buy crypto fees through a third-party Simplex partner. Rates can be customized.
Number of cryptocurrencies supported 500+
Are Bitcoin and Ethereum compatible? Yes
Earn (bets/rewards) Yes
Customer service 24/7 customer support via help page, live chat, email, and ticket system.
Features in the app Buy, bet, exchange, exchange, convert
hardware compatibility Do not
SVP or full node Senior Vice President
Mobile app Yes, Android, iOS


Pros and cons explained

advantages

  • Device Compatibility: Atomic Wallet is compatible with all major devices including Windows, MacOS, Android, iOS, Debian, Ubuntu, and Fedora.
  • Has a ‘buy cryptocurrency’ feature: The wallet allows users to directly buy cryptocurrencies such as Bitcoin, Ethereum and some others using bank cards. Atomic Wallet accepts USD, EUR and other local currencies around the world.
  • Supports a variety of crypto assets: Atomic Wallet can be used to store, exchange and exchange over 500 crypto assets anonymously.
  • Simple user interface: This wallet is easy to use, making it a suitable choice for both new and experienced cryptocurrency investors.
  • encrypted private keysNote: To keep Atomic Wallet secure, private keys are encrypted and stored on users’ devices.

Cons

  • There are a limited number of crypto assets available for purchase: Although cryptocurrencies can be purchased in the wallet with bank cards, the number is limited. Only Bitcoin, Ethereum, Litecoin, Ripple’s XRP and Bitcoin Cash can be purchased in the wallet.
  • Hardware not supportedNote: Atomic Wallet is not hardware compatible like other software wallets.


Characteristic

Atomic Wallet is a decentralized wallet that supports multiple cryptocurrencies and has desktop and mobile versions. Its user-friendly interface makes it a great option for crypto investors to manage their portfolios securely and anonymously.

In addition to presenting an opportunity for users to trade, exchange or convert crypto assets, Atomic Wallet also allows users to earn rewards through various means such as staking and cashback programs. The platform has 24/7 customer support.

Atomic Wallet supports various crypto assets including:

  • Bitcoin
  • Ethereal
  • Ripple-XRP
  • bitcoin cash
  • litecoin


Security

As a non-custodial wallet, Atomic Wallet users have full control over their private keys, which are usually encrypted and stored on their devices, giving them full custody of their funds. In terms of security, the wallet has earned a reputation in the cryptocurrency industry as there have been no reports of security breaches. To authorize any transaction, Atomic Wallet requires users to enter their passwords.

Users can recover their accounts with a 12-word backup seed phrase that is randomly generated when users first set up their Atomic wallets. Although the wallet programming code is not available for peer review (i.e. not open source), the platform presents users with resources on how to secure their wallets. One such resource highlights the importance of accessing the wallet with a virtual private network (VPN). A VPN is a network that gives you privacy and anonymity by creating a private network from a public network.


privacy and anonymity

Atomic Wallet is at the forefront when it comes to privacy and anonymity. Verification and KYC standards are unnecessary to access the funds stored in the wallet.

Although the wallet does not generate a new address for each transaction and is not match coins-enabled, transactions are absolutely anonymous. For a wallet to allow coinjoin transactions, it must support transaction anonymization methods.


Setting

Setting up Atomic Wallet on various interfaces (either desktop or mobile) is relatively easy. Like other software wallets, setup follows three main patterns: download and installation, backup of the 12-word seed phrase, and setup of the wallet password.

Desk

To download and install Atomic Wallet, visit the website and click “Download” in the upper right corner of the screen. Be sure to download software that is compatible with any of these devices: Windows, MacOS, Debian, Ubuntu, or Fedora.

Once the wallet has been downloaded, double-click the file to install it. Next, open the wallet on your device and click “Create Wallet”. Proceed to set a strong and secure password, repeat the password, click “set password” and allow the wallet to load.

A 12-word backup phrase is generated. Write it down and click “open wallet”. You will then be presented with the option to “enable Atomic Wallet to collect logs”. This is an anonymous process that helps you recognize errors when needed instead of doing it manually.

To keep your wallet secure, it is important to use a password that you have never used before. This is because you may have signed up on other platforms with the same password in the past, or someone else may have seen it before. This exposes you to the risk of a security breach. It is also important to keep your Atomic Wallet password safe because once it is lost or forgotten it cannot be replaced, thus a permanent loss of funds. Remember to keep your 12-word backup seed phrase safe. And because Atomic Wallet does not retain user passwords or seed phrases, keeping those credentials secure is the only guarantee for accessing your funds.

Mobile

To download the mobile version of Atomic Wallet, visit the Google Play Store for Android devices or the Apple App Store for iOS. Search for the Atomic Wallet app and download it. Once you open the app, you will be presented with two options: create a new wallet or restore from a backup.

Click create a new wallet, set an original password, confirm the password and let the wallet load. You will then be presented with your backup seed phrase, which must be written and stored in at least two different places. Remember, it is the key to your funds.

If you want to have the same wallet on two different interfaces i.e. desktop and mobile, your 12-word backup seed phrase will come in handy. In this case, click “restore wallet” instead of creating a new wallet.


usability

Desk

Atomic Wallet is a cross-platform wallet and as such, users can access their crypto assets on their computers through the desktop version of the wallet. The wallet is not hardware compatible and does not support connectivity such as Bluetooth and other wired devices. However, it has a user-friendly interface.

Mobile

By downloading Atomic Wallet for mobile devices on Android and iOS platforms, users can have direct access to their funds through their smartphones. On the Google Play Store, the wallet has a 4.8 star rating with over 64,000 reviews. Many of the reviews are positive and complement the friendly user interface and transaction fees. However, others seem to complain about too many bugs, high fees, and “wanting” the option to sell crypto directly to the wallet.


Customer service

Atomic Wallet provides users with 24/7 customer support, with the option to use the website’s help page, email, ticket system, or live chat.


Cost and fees

Atomic Wallet download for desktop or mobile interface is completely free. However, users must pay transaction fees (network fees) to complete transactions. These fees will crypto miners – those in charge of verifying the block of transactions and adding them to the block chain.

Network fees depend on the type of transaction being facilitated. For example, the network fees for Ethereum depend on the Ethereum gas rates measured in Gwei. When the Ethereum network is congested, gas fees are relatively higher.

Network fees may also vary based on the number of entries a transaction may have. For example, since there is not a single $75 bill, it can be divided into three: $50, $20, and $5. The same applies to BTC, LTC and DGB transactions. If you plan to send 0.2 BTC to a wallet, the transaction will likely be split into two parts: 0.1 BTC and 0.1 BTC, an indication that you will pay a higher network fee compared to a transaction with a single entry.

Similarly, network rates can be customized by clicking “set rate” and adjusting the slider on the shipping screen. It is important to understand that the customization of network fees determines the speed of transactions. For example, if both A and B plan to send 0.1 BTC each and customize their network fees to $10 and $0.99, respectively, it is “natural” for miners to rush to verify A’s transaction first.

Finally, the purchase of cryptocurrencies in the wallet with a bank card is facilitated by an external partner – Simplex. Such transactions attract a flat fee of 2% and a maximum of $10 per transaction. Bank charges may also apply depending on underlying policies.


final verdict

Atomic Wallet supports multiple crypto assets, allowing users to buy, trade and convert cryptocurrencies, making it an equal competitor among its peers.

With a user-friendly interface, this wallet is suitable for new and existing crypto investors who want speed, security, privacy, and anonymity while managing their portfolio and making transactions.


Methodology

One of the most important things to consider before trading and storing cryptocurrencies is that you have a suitable crypto wallet. To help determine the wallet that works best for you, we conduct a comprehensive review process of the top cryptocurrency software wallets.

Our review process is based on a quantitative ratings model that weighs key factors such as security, cost, privacy, ease of use, customer support, and features based on their importance. Our team of researchers gathered over 40 data points and conducted extensive research for each of the 19 companies we reviewed. Our team of writers, who are experts in this field, then tested each wallet to provide their qualitative point of view.

Our model gave preference to companies with the strongest reputation and security measures. Companies with rich features, such as supporting a large number of crypto assets, giving users the ability to sync with hardware wallets, and enabling fee customization, also scored highly.