Welcome to our Atomic Wallet Review.
Atomic Wallet is a multi-coin, multi-device cryptocurrency wallets that will hold over 500 coins and tokens.
You can exchange between currencies within the wallet, and stake your coins (on ADA for example).
The 1 Minute Summary
The Atomic Wallet was launched in 2017 by Konstantin Gladych. You can load up the Atomic app on Windows, MacOS, Android, and iOS and you can even buy crypto through the app. It’s a powerful Hot Wallet with some neat security features such as the Restore Function. If you lose your phone, you don’t need to worry as long as you have your pass codes hidden away somewhere as you can quickly restore your wallet onto a new device. Your private keys are kept on your device.
- Use Atomic to store over 500 coins
- Private Keys are kept on your device (phone or desktop for example)
- User friendly, although maybe a bit too simple
- Works on multiple operating systems, eg Windows, Mac, Android, iOS and Linux
- You can buy coins from within the app
- Great Restore Wallet functionality
- You can stake some coins from the app (eg Cardano, 5% APR at time of writing)
- Limited range of coins available to purchase
- Hot wallet – generally connected to the Internet, so may not be suitable for large funds
The Deeper Dive
Start off by loading up the app on your device. We started with our Android phone. The app is free in the Play Store or App Store.
Buy Crypto in the App
One of the neat features is that you can buy crypto directly from the app, and you can exchange tokens from within the app. This is down to the fact that the Atomic Wallet is integrated with exchange partners ChangeNow and Changelly.
Atomic Wallet takes 0.5% as a commission for exchanges
You get a similar deal with the Coinbase Wallet (linked to Coinbase of course) and the Trust Wallet (read our Binance review to find out more about that link).
Because of this link to the Atomic Exchange, the app is free to download. Atomic make their money on the transaction fees. It supports over 500 coins.
No wallet is completely secure, but the Atomic Wallet is at the securest end of things.
Your private keys are on your device and you have 12 recovery phrases as a backup just in case your phone or laptop is lost or stolen. Armed with your recovery phrases, you can simply restore your wallet to another device quickly, and that becomes the wallet.
Remember, your coins are on the blockchain whatever wallet you use. The Atomic Wallet just proves that it is you that own them with your Private Keys.
When you first open an account, you will be asked to generate a secure password to access. All data stored on your device and any transaction details are fully encrypted with both AES and TLS encryption to ensure secure transactions.
Data is not stored on servers and you and you and only you have access to your private keys.
You can set up biometrics to secure the app on your device (fingerprint and face ID)
Make sure you enable 2FA everywhere you can, e.g. your Google email account or your AppleID. Once you have 2FA, if someone has managed to crack your password still won’t be able to log in until they get a permission from one of your other devices.
The big risk with Atomic Wallet is losing your phone AND your recovery phrases. Make sure you store the phrases in a safe place, preferably on paper. NEVER share your 12 word mnemonic phrase or your private keys with anyone.
In Atomic Wallet, you can stake crypto assets (where available) without any fees and earn rewards directly from the validators. You choose the validators.
For convenience and security, Atomic is one of the top scorers out there. You control your private keys, it’s easy to restore if you lose your device, you can buy and trade from within the wallet and you can even stake coins such as ADA, ZIL, ATOM, XTZ, ALGO, VET and AWC (Atomic Wallet Token).
Frequently Asked Questions
What Happens if I Lose My Phone?
Your coins aren’t actually held on your Atomic Wallet (or any wallet for that matter). Just your private keys which proves that you own the coins on the blockchain. If you lose your phone, you just need to restore your wallet onto a new device using your 12 recovery phrases. That then becomes your wallet, as you can only have one “live” at any one time. It’s a neat solution
Can I buy Cryptocurrency in the Wallet?
Yes you can, as the wallet is linked to exchange partners ChangeNow and Changelly.
Atomic charge a 0.5% commission.