Atomic Wallet

What is Atomic?

There are lots of blockchain-based wallets in existence today, but only a few of them are non-custodial. Crypto wallets like the Arculus Wallet require you to purchase a Metal Key Card before setting up to use its cold wallet services. However, Atomic Wallet’s case is a different one.

Atomic Wallet is a blockchain-based non-custodial crypto cold wallet. The wallet was launched in 2017 by Konstantin Gladych. Gladych is the CEO and co-founder of the popular crypto exchange, Changelly. Atomic Wallet was initially launched as Atomic Swap until the name was changed to what it is now. 

Atomic Wallet is not just a crypto wallet. It has a lot of functionalities. One of the many functionalities is that users can make money from using the wallet by staking their crypto. It also has a built-in exchange that helps the purchase and sale of crypto assets swiftly.

The wallet supports the purchase/swap of over 500 cryptocurrencies. It is a secure and intuitive platform. Furthermore, the wallet has a very user-friendly interface. This makes the platform not only suitable for experienced crypto traders/investors but also for crypto newbies.

Getting Started with Atomic Wallet

Setting up Atomic Wallet is quite an easy task. The process is a very straightforward one. It follows the usual pattern of installing any other wallets out there-Download, install, write down phrases, and password setup. The wallet is available both on mobile and desktop. Below are the steps in setting up Atomic Wallet both on Mobile and Desktop;

Setting Up Atomic Wallet on Desktop 

To set up Atomic Wallet on a desktop, follow the easy steps below;

1. Download the Software: To download the Atomic software, visit its official website and click on the download button at the top right corner of the site. At the time this review was written, the latest version of the software is version 2.69.2.

2. Select Your Operating System: Downloading the software also requires you to choose from the list of operating systems, the one that is compatible with your desktop. The operating system that Atomic Wallet support includes Windows, Ubuntu, MacOS, and Fedora. Click on any of the operating systems that is compatible with your device and proceed to download. After this process, the software will start downloading automatically.

3. Install the Software: When the download is complete, check the lower left corner of your desktop and “double click” on the downloaded software to install.

4. Open the Wallet: Double-click on the software to open once the software has been successfully installed.

5. Click on Create Wallet: You must click on the create wallet button on your screen after opening the software. Next, continue to set up your strong desirable password. You must enter your desired password twice before the process concludes. After entering the passwords twice, click “create password” and allow the wallet to load.

6. Write Down Your Backup Phrase: At the end of the create password process, a 12-word backup phrase will appear. Write them down in a place that is accessed only by you. This is very important because if anyone else has access to your backup phrase, the whole crypto assets you might have in it could be stolen. You can click the “open wallet” button when the phrases are written down. Next, the option for you to “enable Atomic Wallet to collect logs” will be presented. This will help you to identify errors whenever they occur. 

Setting Up Atomic Wallet on Mobile

Setting up Atomic Wallet on a mobile device is a simple process. It could be done with just a few steps. Follow the steps below to set up Atomic Wallet on a mobile device;

1. Download the Application: This is the first process in setting up the wallet on mobile. The application is available on Google Play and Apple Store. Go to the Play or Apple Store and search for “Atomic Wallet” Download the application and open it. 

2. Create Wallet: You will have two options after opening the app. The first is to “create a new wallet,” while the second is to “restore a backup” from a previous Atomic Wallet. If you previously have an account with Atomic Wallet, you can restore your previous wallet to the new device. But if you don’t, go ahead to create a new wallet.

3. Enter Your New Password: You must set up a password when creating a new wallet. Set up a password that is not simple to guess in case anybody can access your device. Next, wait for the app to process all the crypto wallets it supports to proceed.

4. Write Down Your Backup Phrases: If you are creating a new wallet, a 12-word backup phrase will appear after clicking the “create new wallet .” Write down the backup phrase securely. Again, you should only have access to your backup phrase.

Important: It is very important to write down your backup phrase in a very private place. This is so important because whoever has access to them, has uncontrolled access to your crypto assets and you stand the chance of losing all of the assets.

Cryptocurrencies & Assets Supported by Atomic Wallet

Atomic Wallet supports more than 500 crypto assets. The supported crypto assets include Bitcoin, Ethereum, Solana, Ripple, and others. All the supported crypto assets can be bought/swapped on the application. The supported assets can also be sent, received, and exchanged in-app.

Atomic Wallet Keys and Security

Your Private keys or backup phrases are crucial when it comes to the security of your wallet. This is true because if not kept securely, it could lead to the loss of your crypto assets. To locate your private keys on your mobile device, follow the steps below;

Step 1: Open the Atomic Wallet

Step 2: Enter your correct password to login

Step 3: Click on “more” at the lower right corner of your screen

Step 4: Under the “wallet and security” section, tap on “security”

Step 5: Tap on “private keys and Backup”

Step 6: Enter your password again and click on “show private keys”

Step 7: Agree to the warning by checking the box at the lower-left corner of your screen

Step 8: Tap on “12-word backup phrase”

Step 9: Tap on “show my backup phrase”

To view your Atomic Wallet Private keys from a desktop, follow the steps below;

Step 1: Open Atomic Wallet

Step 2: Enter your correct password

Step 3: Click on “settings”

Step 4: Click on “private keys” at the upper right corner of your screen 

Step 5: Enter your correct password and click on “show private keys”

After the last step above, your Atomic Wallet backup phrase will be shown with the private and public keys of the supported major cryptocurrencies.

Other Atomic Wallet Features

Apart from being just a crypto wallet, Atomic Wallet has other functionalities that users can enjoy from using the application. Some of the other features of the wallet include the following;

• Staking: Atomic Wallet users can earn extra income by staking their crypto assets on the platform. Staking primarily supports the blockchain. Stakers earn money when validators create new blocks on the blockchain. However, only some of the over 500 crypto assets supported by Atomic Wallet are accepted for staking. Stakers using Atomic Wallet can earn as high as 20% of their investments annually.

• Exchange: There is a dedicated and straightforward exchange section in Atomic Wallet. This exchange feature enables users to conveniently buy, sell, and swap their digital assets all within the platform. The section offers a seamless trading experience, as it supports a wide range of cryptocurrencies, making it seamless for users to access and manage their investments.

• In-App Crypto Purchase: With Atomic Wallet, you can easily buy crypto using your debit or credit card. The purchase supports only MasterCard and Visa cards. Crypto purchase is made possible by integrating the popular crypto payment processor, Simplex. Simplex is a crypto/traditional finance payment processor launched in 2014. It has been instrumental to a lot of crypto merchants in the industry.

• Send/Receive: With Atomic Wallet, you can easily send or receive crypto assets to and from other wallets without paying extra apart from the network fees.
• 24/7 Live Support: Users who need clarification about anything on Atomic Wallet can use their 24-hour live support.

• Multiple Languages: The wallet support up to eight (8) international languages. The supported languages include English, Deutch, French, Turkish, etc. This feature helps users who are not proficient in English Language.

• Anonymity: Setting up your Atomic Wallet does not require entering your government name or submitting any document. It is an entirely anonymous process. This helps to hide the identities of its users.

Atomic Wallet Usability and Support

The ease of use and user-friendly interface of the Atomic Wallet are some of its most notable features. Whether you leverage the desktop or mobile version, setting up your wallet is a breeze and can be completed within two (2) minutes. This makes it accessible to users of all technical expertise levels, even those new to the world of cryptocurrency.

Also, 24/7 live chat support is available on the wallet website’s homepage. This feature ensures that users can get help with questions or concerns any time of the day or night. The support team is knowledgeable and responds almost instantly, providing quick and practical solutions to any issues that may arise.

The user interface of the Atomic Wallet is designed to be intuitive and swift to navigate. All the features and functions are clearly labeled and organized, making it easy for users to find what they need quickly. Whether you check your Bitcoin balance, send or receive Bitcoin, or use the exchange feature, everything is just a few clicks away.

Atomic Wallet Reputation and Popularity

Atomic Wallet has maintained a fairly good reputation since its launch in 2014. Many crypto enthusiasts have embraced its usage. The wallet has been growing geometrically, getting the crypto community’s attention. The success could be attributed to the wallet’s easy use and anonymous nature.

However, during a security audit in 2022, Least Authority, a security firm, discovered some vulnerabilities in the Atomic Wallet app. The vulnerabilities were made public by the security firm in a lengthy blog post calling for the attention of the Atomic Wallet team. The Atomic Wallet team responded by stating that the vulnerabilities discovered have been considered and corrective steps, taken.

Conclusion

From our study, Atomic is one of the recommendable wallets out there. It is in a class of its own. It is a blockchain-based non-custodial crypto cold wallet that offers users more than just a crypto wallet. It strikes a balance between usability, convenience, security, and flexibility. It has an intuitive user interface and, offers features such as staking, built-in exchange, and supports over 500 cryptocurrencies. Setting up the wallet is relatively easy; users can do so on mobile and desktop devices. Atomic Wallet has great potential and is an excellent option for experienced traders, investors, and newbies in the crypto space.

Atomic Wallet Pros and Cons

Atomic Wallet also has its strength and weaknesses, just as any other software. However, below are some of the pros and cons;