As of June 2020, there are over 5,500 cryptocurrencies in the world. If you’ve chosen to invest in one (or a few), no matter which crypto is your choice, you need a secure way to store your currency. Thankfully, there are many 3rd-party wallets out there that can help you securely store and manage your cryptocurrency. However, with so many out there, it may be difficult to try and figure out which one’s best for you. To help you out, here’s a complete Atomic Wallet Review. That way, you can determine whether or not this wallet suits your needs.
What Is the Atomic Wallet?
As we’ve mentioned above, the Atomic Wallet is a 3rd-party wallet that lets you manage all your cryptocurrency. In fact, it has the capability to store and manage over 300 types of crypto. And more are being added continuously!
The Atomic Wallet isn’t just a cryptocurrency wallet though. As the name suggests, it enables you to do atomic swaps. This is essentially like a currency exchange, but instead of fiat money, it’s crypto.
Benefits of Using the Atomic Wallet
As you already know, this wallet already allows you to store and manage over 300 types of cryptocurrency. This includes almost all of the ERC-20 compatible tokens (over 500). This means that even if you use a very obscure crypto, chances are, you’ll be able to store it in the Atomic Wallet.
But what other benefits can you enjoy from using it? Read on to find out.
You Can Use It on a Variety of Devices
There is both a desktop and mobile version of the Atomic Wallet.
On a desktop computer, you can use Windows, MacOS, Fedora, Debian, and Ubuntu operating systems. And for the mobile wallet, you can use both the iOS and Android operating systems.
No matter how experienced you are with cryptocurrencies and devices, you won’t struggle with the Atomic Wallet. This rings true for both its desktop and mobile wallets. Navigation is very simple and easy.
In addition, there are numerous customizations available. This can make it even easier to move your cryptocurrency around.
Because the Atomic Wallet uses atomic swaps, this eliminates the need for dealing with exchanges. As a result, the fees are much lower with this wallet, which means you get to pay less whenever you make any transactions.
Wide Variety of Coins
Hundreds of coins are available for use with Atomic Wallet. ‘Nuff said.
It’s Fully Integrated With Shapeshift and Changelly
Let’s say your preferred crypto doesn’t support atomic swaps. Not to worry, as you won’t be stuck with it.
Because the Atomic Wallet is fully integrated with Shapeshift and Changelly, you’ll be able to still exchange one crypto for another (over 100). Both of these are instant crypto exchanges.
You Can Buy Crypto With Your Bank Card
Buying cryptocurrency can be quite a hassle. But with the Atomic Wallet, it’s a very simple process.
You can buy a wide variety of cryptocurrencies straight from within the wallet, such as Bitcoin and Ethereum. Currencies accepted are the US dollar and Euro.
If you’d like to use other fiat currencies, you can also purchase crypto with Shapeshift and Changelly’s credit card gateway.
It’s Safe and Secure
Because you’re dealing with currency, it’s more important than ever that whatever exchange and/or wallet you use, it’s safe and secure.
The Atomic Wallet’s code is open-source, which means anyone can examine it. The fact that this company is so transparent with their coding speaks volumes about its security.
For any data that’s sensitive, this is all stored on your personal device instead of the wallet’s database. So the onus is on you to keep your devices free of malware; this includes your smartphones and tablets. You can do this by installing robust antivirus software, having good digital hygiene, and/or by pairing a hardware wallet.
Drawbacks of Using the Atomic Wallet
Now you’ve seen all the benefits you can get from using the Atomic Wallet. However, what are the possible drawbacks? Keep reading to see what these are.
Limited Support for Atomic Swaps
Although atomic swaps are its main selling point, the Atomic Wallet only supports a few cryptocurrencies for this. They are Bitcoin, Litecoin, and Qtum.
The good news is, this company plans on adding more cryptos for atomic swaps.
No Support for Hardware Wallet Pairing
If you do choose to pair the Atomic Wallet with a hardware wallet, be prepared to do it on your own. Currently, there isn’t support set up for this yet. However, there probably will be in the near future.
You’re Responsible for Security
One of the biggest disadvantages of using the Atomic Wallet is you’re completely responsible for security. Not only do you need to have excellent online practices, but you must also store your backup phrase securely, on your own. And if you want to get additional security, you need to pair the wallet with a physical on your own too.
However, this drawback is seen with all crypto wallets. So no matter which one you choose, you’ll ultimately still be completely responsible for your digital security.
Atomic Wallet Review: We Think It’s Great
After reading this Atomic Wallet review, you now know all the pros and cons that come with using this crypto wallet.
As you can see, the advantages far outweigh the disadvantages. This means it can be well worth your time and effort to give the Atomic Wallet a try, especially if you want to store and manage a wide variety of cryptocurrency across several devices.
The only way to know for sure is to experience the Atomic Wallet for yourself. So what are you waiting for? Give it a download and see what it has to offer you.
Are you interested in reading about other crypto wallets? Then take a look at this article about the one from Samsung Galaxy S10.