Atomic Wallet Review 2022 - Is It Safe?
- Atomic Wallet Security Overview
- Atomic Wallet Feature Overview
- Atomic Wallet Fees
- Atomic Wallet and User Reviews
- Is Atomic Wallet a Scam?
Atomic Wallet has been released with a focus on security and atomic swaps. As of Fall 2020, Atomic Wallet has become a full-fledged part of the cryptocurrency industry.
You can store more than 300 coins, while the amount of allowed currency is constantly increasing, and in addition, ERC-20 tokens. All keys are stored exclusively on the user's device, therefore there is no danger of losing money. It is also possible to restore access by a key phrase.
If we talk in more detail about Atomic Wallet, the review for Russian-speaking users must take into account the absence of the Russian language. At the moment, there is only an English interface, which may cause certain inconveniences for users.
According to the official website, the company currently has 24 employees. Among them is Charlie Schrem, who is a strategic advisor. He differs in that he was the vice-chairman of the Bitcoin Foundation, but he was also in prison from 2014 to 2016 and was accused of embezzling 5,000 bitcoins.
The advisor is Simon Dixon, a professional investor who invested in companies like Kraken or BitPay on time.
Finally, it should be noted Konstantin Gladich, who became one of the founders of Changelly, an extremely popular cryptocurrency exchange service.
At the moment, there is an installation distribution for Windows OS, macOS and some versions of Linux. It is guaranteed that Atomic Wallet will work on Debian and Ubuntu, however, the user can independently check the possibility of installing Atomic Wallet on his version of Linux.
There is also a convenient mobile version of Atomic Wallet.
Atomic Wallet Security Overview
If we talk about the technical component of the Atomic Wallet, a wallet review should begin with a technical analysis of the security of the software product. AES cipher is used to increase the reliability of data storage. The reliability of the tool is confirmed by the fact that it is used for military and government purposes.
Atomic Wallet does not collect any additional data, the decryption keys are located exclusively on the user's local device.
The user is required to:
- Regularly scan the local device for malware. If found, delete immediately.
- Refuse to store the password and mnemonic phrase in electronic form. Otherwise, attackers can try to steal data.
If you intend to stop using some altcoins, you can disable them. You just need to remove unused coins at the top right and then click Apply.
With Atomic Wallet, you can either buy ICO tokens or simply transfer funds to another user. However, Atomic Wallet fees are relatively unpredictable. On the one hand, there are no additional payments for the withdrawal, and for the transfer, you only need to pay standard amounts to keep the network operational.
On the other hand, you have to pay for the purchase of currency inside Atomic Wallet, and users themselves note the unpredictability of commissions. They can change very quickly, even though there are half a million downloads by fall 2020.
Atomic Wallet Feature Overview
There is no Dapp browser here. Despite the fact that the blockchain works, access to the decentralized Internet is not provided, which may create certain inconveniences for some categories of users.
It would be unfair to say on this basis that Atomic Wallet is a scam, however, there are inconveniences, and they cannot be ignored. Staking is present. At the same time, the number of coins is regularly increasing. Among them are ATOM, TRX, KMD, ALGO and many others.
To create a contract you need:
- Open the Stalking tab, then select the desired currency.
- Click Stake and specify the required amount. Some currencies guarantee higher levels of profitability.
- Click on Stake All.
It is also possible to back up the wallet. This is not surprising, because the technique can break down, and the operation can sometimes fail. It would be especially offensive if the user had previously bought a solid amount of XRP to store in the wallet, and he was out of order.
Therefore, you should save the seed phrase in advance to restore access. If necessary, it will be possible to restore the wallet even on new hardware.
The main thing is to correctly indicate the phrase from all words with spaces.
To transfer funds from another wallet to Atomic Wallet, you need to launch the program, specify a password for authorization, after which you can carry out any operations.
Clicking on RECEIVE opens an additional control tab. You can copy the address in a classic way or scan the QR code. It is recommended to choose the second option if funds are sent via an application on a smartphone. In any case, security on Atomic Wallet is on the high level, the user is guaranteed to send their funds.
If there is a need to withdraw funds from the wallet, you must select the required currency, and then click Send. The user will see the details of the future transaction. You just need to specify the address of the new wallet and the amount and then click Send.
Atomic Wallet Fees
Formally, the commission depends on the type of operation being carried out and the type of cryptocurrency. The purchase of a new cryptocurrency is impossible without paying a commission of 5%, but at least $ 10.
Withdrawal fees are user-adjustable, but users note that the practice is very different from theory. First of all, users complain that the commission level is constantly changing. This can be neglected by users who use the wallet primarily for storage. But those users for whom frequent payments have become the norm cannot be neglected.
The worst is for those who are engaged in professional cryptocurrency trading. Despite the fact that Atomic Wallet has the simplest verification and is almost completely absent, it does not add convenience to traders. We have to come to terms with the fact that it is not really known what the commission for the operation will be.
However, there is also the opposite opinion. Some users point out that Atomic Wallet has been more consistent with the stability requirements lately. Perhaps the difficulties in accurately indicating the commission for making transfers were kind of growth difficulties and not an inevitable companion of the wallet.
Atomic Wallet and User Reviews
Traders generally rate the wallet positively. Among the advantages:
- Many currencies supported. Long gone are the days when different types of tokens had to be stored in separate wallets.
- Atomic swaps. A number of experts believe that this is a full-fledged replacement of platforms for trading currencies, moreover, it is completely safe.
Among the real reviews you can find the following:
"Easy to use, works well, no problems."
However, there are also opposite opinions:
"There is no one to ask for help or advice."
The company actually does not react in any way to users' requests. However, this is not surprising when you consider that the company employs only a couple of dozen people.
Most consider the wallet to be well suited for experienced users and cryptocurrency trading experts. Beginners are better off trying to find an alternative.
Is Atomic Wallet a Scam? Is it safe to use Atomic Wallet?
Despite the fact that one of the direct managers of the company distinguished himself with suspicion of stealing 5,000 bitcoins and spent two years in prison, the likelihood of a scam should be considered insignificant.
There are a number of reasons for confirmation:
- Too high-quality wallet production. It really meets high-quality standards, which is not typical for a scam. Half a million downloads confirm this. Of course, it is possible to steal such a large amount of currency, but still, the company is more likely focused on normal market work.
- Availability of additional functions. The possibility of staking, additional protection, careful attention to the privacy and anonymity of users - all this distinguishes a wallet from a scam.
But is Atomic Wallet really safe to use?
There is no clear evidence that the wallet does not have the required level of security. For example, Atomic Wallet belongs to non-custodial types of wallets. This means that it does not use servers, does not require additional registration of its users. This in itself speaks of safety.
The presence of encryption, storage of keys on the user's local device, a unique mnemonic recovery phrase - all this speaks in favor of Atomic Wallet.
The only problem is that the development of the device is absolutely not regulated by anyone. If a user is looking for a wallet that is guaranteed not to be a scam, Atomic is unlikely to be recommended. Yes, now it is reliable and safe, but this does not mean that it will be so tomorrow.
There are no multi-signatures, no two-factor authentication, and weird fees. Atomic swaps, which Atomic Wallet is proud of, are implemented for only three (!) Pairs.
But most importantly, it's a closed source. Yes, Atomic Wallet works, and so far it works properly, but there is no guarantee that this will continue tomorrow.
Closed source code for such important software as a cryptocurrency wallet is a serious disadvantage. For maximum safety, it is best to use an alternative.
This wallet got hacked on the 3rd of June 2023, you can verify that for yourself as there was plenty of news about it. The team have refused to communicate with victims , update or to date even refund their losses, they have instead deleted their own earlier tweets, censored users on Twitter, Reddit and Telegram while trying to play down this hack / expolit, no company with integrity acts this way. They at the date of this comment claim they are working with authorities and cyber firms but we have seen no reports and its nearly 2 months onward. Peoples lives have been destroyed and they are acting like this is some small hack when its been reported 5000 of the biggest wallets were drained, 115 million taken. There were warnings a year earlier by cyber firms that their code was poor yet did not let users know or as far as we know, act on those reports. BE WARNED , do not trust this wallet.
Withdrawal issues and cases of missing funds are currently being resolved by TheVaultechTeam. Search the name on Google, I have just retrieved my coins but I had to use another wallet entirely. I can't deal with Atomic Wallet anymore.
Ist es üblich bei Wallet das man Geld zum voraus zahlen muss bevor man Geld bekommt.
Ich müsste 10800 Euro voraus bezahlen damit ich 400800 Euro überwiesen werden. Ist das normal
Not secure enough. Fees are unpredictable. Customer support poor.
Estou usando, testando até agora tem me impressionado muito
