Introduction:
One of the most frequently asked questions to me by my friends is this " Hi bro, Where can I store my crypto assets?"
I am sure that all of us has faced that question at some point
If you are a beginner, you might think that it is a simple question but if you are an expert you are definitely aware that it is one of most difficult and complicated dilemmas in crypto world.
Why?
This mainly because of the wide spread of poorly made or scam wallets which will either tire you with low quality service or even steal your money.
In Blockchain there is no judicial authority that can be accessed ..."The law does not protect the dupes"...This is the most likely answer you would hear if you got hacked, stolen or deceived.
I know that there is a big number of crypto wallets out there but trust me, if you are seeking reliability, security and privacy, you will find this number is much much smaller than you think.
For me, I have a very short list of trusted wallets that I use and recommend to my friends.
In this article I will introduce you to one of these few high-quality wallets which is Atomic wallet. In fact, it's not just a wallet, it's almost an all-in-one option for any crypto enthusiast.
I will cover all the positive and negative points alike, so you can then decide whether to use it or not.
Without any further ado, let's dive
What is Atomic Wallet?
Atomic Wallet, is a non-custodial multi-asset wallet that supports over 40 blockchains with 300+ custom tokens.It offers an option to buy crypto with a bank card in 18 local fiat currencies, instant exchange of 60+ assets, supported by Changelly and ChangeNOW, and staking for 10 PoS cryptocurrencies (and counting) all in one simple user-friendly interface protected by mnemonic seed. Atomic's on-device intelligence allows storing all private keys at a user’s computer or/and smartphone, which guarantees only they have full access and control over the funds.
Atomic Wallet doesn’t take any fees for sending/receiving operations. All the network fees within the wallet are set in such a way to ensure your transaction to be included fastly and safely on the blockchain.
It works for Windows, Linux, IOS, and Android like a charm.
Is Atomic wallet reliable?
Atomic wallet has a high reputation and standing in crypto space.It is secured,and anonymous. It is one of the most famous wallets between newbies and experts alike
If you can't believe me then you can believe some crypto giants (e.g CZ Binance , Charlie Shrem and John Mcafee ..etc) who praise Atomic wallet.
It is also decentralized, which will ensure that no central entity disturbs you or imposes its mood rules on you.
Even Better, Atomic Wallet will give you the full ability to reach the private keys of your ALL coins. Something you will NOT find in many other wallets (Uphold,Trust wallet..etc )
Remeber, the ONLY way to own your wallet is to own its private key.
How can I set up my account on Atomic wallet ?
One of the obvious features with Atomic wallet is how intuitive the app is. You don't have to think while navigating the user interface. It is nicely self-explanatory.
If you have ever made an account anywhere then you can use Atomic wallet with ease
Setup operation is straightforward to the extent that I could consolidate all steps in a single image...and these are the simple steps:
- Download the app from here and open it
- select "create wallet" choice
- Set you password
- Save your 12 word backup seed (I prefer to save these words on a paper in a safe place)
- THAT IS IT
I ensure that once you open the wallet you will get the hung of it...
Buy crypto from fiat...
I think many people will love this feature. If you want to buy BTC or ETH with fiat, you don't have to go to Coinbase you can do it right in your wallet. Also, you will get impressed how many types of fiat it supports. You will find USD, EUR, GBP, CAD, JPY ...and the list goes on. You can select whatever you like and simply use your credit card to buy and that's it.
Well, I must say that there is a negative aspect with this grate feature which is that you have to pay 5% fees. I think it is a high fee compared to to Coinbase or Binance.
Exchange you coins...
This is another good advantage of Atomic Wallet that just simplified my life. Before using Atomic Wallet I had to go to CoinBase if I wanted to buy BTC or ETH then, I had to use an exchange to buy any altcoin, After that, I had to transfer my coins to an external wallet.
Atomic Wallet has shut down all this boring stuff as I can buy, exchange, and hold your cryptos right at one place...
Staking option...
For me, this is one of the greatest features...
I love the idea that my money is increasing by itself (and who doesn't)
Normally, if I wanted to stake my cryptocurrencies I would have to run around the internet in search of different services and would have to juggle with some platforms which I really wanted to avoid. It was a COMPLETELY tiring process.
On the contrast now, I hardly believe how easy and intuitive it is with Atomic Wallet
All you have to do is to go to the "Staking" option on the left side of the interface then you'll see multiple of coins available with a certain profit rate for each one of them(as you can see in the image). You can select whatever you like and then enjoy watching your money working for you while you are not working for it ;)
Native wallet token (AWC):
Speaking of staking, Atomic Wallet has its own native coin which is (AWC). Atomic Wallet has launched a membership program for AWC. The whole idea is about holding AWC . It offers cashback for every exchange you make for holding AWC in the wallet. All you to do join to this program:
- Buy and hold your AWC in Atomic Wallet (Minimum is 1000 AWC)
- Exchange any asset
- Receive Cash Back
Points need to be improved:
If you know me (from my previous posts), then you know that I'm NOT that kind of people who just jump on the praising bandwagon for a product and blindly ignore its flaws. And, as I promised you in the introduction of this post, I will point out all the positive&negative aspects of Atomic Wallet so you can decide whether you want to use it or not:
Steep Purchase Rates:
If you want to buy crypto from fiat, you have pay 5% commission fee. I think it is really high compared to Coinbase or Binance .
Although, I understand that Atomic Wallet is offering a far better service than Coinbase as you can buy, exchange and store your assets on one plateform yet it is still a high commission fee for many people. I heard from some of my friends who use Atomic Waller that they prefer to buy BTC or ETH from Coinbase and then transfer their Purchases to Atomicwallet.
I think Atomicwallet has to reconsider its rates and try to make them more competitiveWhere is "Sell cypto for fiat" option ?! :
You can buy crypto from fiat but if you want to sell cypto for fiat you unfortunately can NOT.
I fell disappointed when I searched for this option but I didn't find. That means that I have to back to Coinbase if I want to sell my crypto
As known, We (in 2020)can't buy our stuff or pay our bills with cryptos so, we need fiat.
It could be said that the most prominent purpose of buying and holding cryptos is to fill our portfolio with fiat.
If Atomic Wallet touts itself to be the all-in-one product, then it has to include this feature into its app
Comclusion:
Well, there is NOTHING perfect in this world. However, I must say there are few cons compared to many pros with Atomic Wallet.
In the recent months Atomic Wallet managed to grab more attention for itself and this due to its hard effort of developing and respecting user's privacy.
It wouldn't be an exaggeration if I said Atomic Wallet would be a game changer in crypto space
If I had to give a scale of 5 I would give it 4.5/5
What do thing about Atomic Wallet ?
Do you believe in this product?
It's crucial for me to learn your opinion....
THANK YOU for stopping by :)
Right there is the issue most of us face when we embark on our crypto-journey! Security and privacy are two massive pluses that I take from your careful review. In the modern world these two extremly important tenets of online time are disappearing rapidly and anywhere I can experience greater security and privacy is a big win for me.
The other part that jumped out and impressed me is the staking option and the idea of seeing your money increase passively.
The two points you raised towards the end with regard to the cons are important and must be addressed but if they are I think this is a very solid contender for mass use when the mass influx of the general population to Crypto begins... And it will!
Nice job. It was simple enough for me to understand with my limited knowledge too which was a bonus. Take great care, keep the HOPE my friend 🙂
It is great to have a friend like you on Hive platform... I'm glad to follow your accountThank you for reading @stevenwood
I am waiting for this moment impatiently ;)
Take great care
A really nice review and love your honesty about the cons features.
THANK you for stopping by...
In the beginning i had faced the same problem about where to store my crypto.
I started my journey with coinbase wallet as i have had heard that it is one of the best crypto wallets.
Later i figured there are more secured wallet (hardware wallet)
Seems like i gotta try this atomic wallet right now the features you mentioned above seems just lit.. Thank you for posting mate @qsyal
Thank you for reading :)I wish you a pleasant experience @rishabh99946