Atomic Review: Is it legit, safe and trustworthy for UAE citizens and residents?
Atomic Wallet, a platform that enables the immediate exchange of
cryptocurrencies, currently holds more than 500 different digital assets. It is
a decentralized exchange that offers robust safety precautions and a user
interface that is tailored to the needs of cryptocurrency aficionados. Atomic is
a company that provides services, one of which is the simple trading of more
than 60 different cryptocurrencies, Proof-of-Stake (PoS) assets, and fiat
currencies sourced from 18 of the most significant worldwide markets. You'll
discover in our review of the Atomic Wallet that it also provides rewards when
exchanging currencies. The production of a strong and multi-faceted environment
that is capable of accelerating the widespread appropriation of bitcoin is the
primary goal of Atomic. The desktop wallet does not enforce any Know Your
Customer (KYC) rules since the developers consider privacy to be a critically
vital feature in the process of constructing a trusted network of users. The
hardware wallet platform creates 23 percent more earnings for staking compared
to the previous year (YoY). Traders that use Atomic are given the ability to
stake their native assets, such as Cosmos, Tezos, and a wide variety of other
currencies and tokens. Visit Atomic Website.
Within the area of cryptocurrency, the Atomic wallet has become more prominent. The Atomic Swaps product, which is a DeFi exchange, is the foundation of its most important capabilities. Konstantin Gladych, the CEO of Changelly and a leading figure in the financial technology industry, was the brains behind the creation of the Atomic swap exchange in 2017.
Tweets by AtomicWallet
The Ethereum (ETH), Bitcoin (BTC), and Litecoin (LTC) cryptocurrency tokens may be purchased with fiat currency using bank cards, which are supported by the Atomic wallet (LTC). The hardware wallet allows for uncomplicated access to a variety of operating systems, including but not limited to macOS, Android, Windows, and iOS.
Users are able to fortify their bitcoin holdings by using private keys, which is made possible by the functioning of top cryptocurrency wallets. This provides consumers with full access to their assets, as well as autonomy from Atomic, as the company does not have any access to the crypto wallets itself.
In order to ensure the integrity of each transaction, the funds belonging to the users are pooled together and stored in the blockchain. The cryptocurrency wallet offered by Atomic quickly integrates with the blockchain nodes selected by the user. In addition, the user's whole trading history, including the transactions that have taken place in their bitcoin wallets, may be traced.
With the support of Atomic colleagues, the execution of blockchain transactions may be carried out alongside a wide variety of other crypto trading endeavors, such as the acquisition of large cryptocurrency exchanges.
The following is a list of the amazing features that come with the Atomic Wallet:
The fact that there is no cost associated with using the Atomic Wallet makes it the platform that is in most demand among novice users who are just starting out in the world of cryptocurrency trading. It makes it possible for new investors to buy cryptocurrencies even if they don't have any assets in their possession at the moment. The Atomic Wallet Exchange is beneficial to novice users and allows practically all currencies and tokens to be traded through it. In addition, interoperability with a wide range of operating systems is supported by this wallet. This intriguing trademark may be accessed via the Atomic Swap exchange with the integration of the hardware wallet.
Users demand faith, and the exchange platform must be conceived of using private keys in order to provide users with the certainty that there is no unrestrained risk. The user-generated passwords and the acceptance of a specific transaction are used to authenticate atomic swaps that take place across several chains. The fact that the password is a phrase consisting of 12 words gives it a special quality that makes it useful in the event that the digital device used by the investor is misplaced. If you want to ensure that your wallet is secure, then you should keep your 12-word backup secure.
Atomic Wallet's Positives and Negatives:
Atomic Wallet is uncomplicated and has a user interface that is intuitive and easy to manage.
The Atomic wallet cryptocurrency platform does not yet offer support for hardware wallets.
Atomic Swap allows for a maximum of 500 coins and tokens to be traded on the platform where they are conducted.
To facilitate purchases of bitcoin, the wallet only makes available a subset of the currencies that are supported.
The encrypted private keys for the user's transactions are stored locally on their digital device and provided by the Atomic Wallet.
The standard support functions were carried out.
The Atomic wallet is a decentralized exchange that supports more than 500 tokens and encompasses all blockchain networks. This wallet may be used to trade many major currencies. When it comes to the establishment of cross-chain Atomic swaps, the wallet is an outstanding industry leader. Using the cutting-edge smart-contract technology that Atomic swap provides, users are able to trade a single cryptocurrency for another decentralized cryptocurrency without the need for a centralized exchange.
Using the Atomic wallet, investors are able to carry out activities like as staking, controlling their coin exchanges, and purchasing a cryptocurrency specifically for the purpose of investing. The features can be accessible on the user's device by way of an application, or the user can download the software from the website onto their own device.
Tweets by CoinDesk
Downloading the application of the wallet exchange platform from the Google Play store or using the facilities available on their website is the first step in managing an exchange using the Atomic wallet. You can accomplish any of these things by going to their website. There is a step for the user to do in order to download the Atomic wallet software onto their device if they go through the online way.
Create Wallet and Restore from Backup are the two choices that will be shown to the user when they have successfully gained access to the application. When using the wallet, first-time investors are required to select the "Create Wallet" option from the drop-down menu. After that, authority is granted, and the user is obligated to create a password for himself.
In addition to that, a secondary password consisting of 12 words has to be given and safely preserved for any potential risks in the future. After entering their password, users are able to begin their cryptocurrency trading endeavors. The procedure of creating a backup will let you to regain access to your Atomic Wallet at any time and from any location.
Nuclear Exchanges Purchasing cryptocurrencies through an exchange is handled through the wallet's associate service, which is referred to as Simplex. According to what we know, each user is allowed 500 coins and tokens when using the Atomic Swap platform. There are two components that go into determining the costs that the wallet Atomic charges for acquiring cryptocurrency using fiat money. The first scenario is one in which the built-in exchange wallet will charge costs of 2 percent for a trade order of $10 for each transaction, respectively. The second component is when the cryptocurrency wallet service charges a purchase cost to the user's bank card. The amount of this fee is determined by the respective size of the user's fiat currency account policies.
Due to the fact that the purchase of cryptocurrency requires high-risk performance security for particular coins, the fees for this component provided by the Atomic Wallet are differentiated by the imposition of an additional cost equal to 5 percent.
During the course of our evaluation of many other wallets, we discovered that the Atomic Wallet is the only wallet in which all of the fees rely on the amount of the cost that is handled within the Atomic wallet. The all-in total of the fees that were assessed is included in the expenditure payment estimate that was sent to you.
The fantastic token for your wallet. AWC (Atomic Work Credits) is a prominent cryptocurrency asset that is distributed by the decentralized exchange Atomic. The integrated currency of the investors is supported by the companies that issue the tokens. It is anticipated that the number of available AWC coins will increase in tandem with the accelerated development of the best wallet.
The total amount of AWC tokens is 100.000.000, and providers have a supply of 10.000.000 available for circulation at any one time. Certain tokens with a value of 90.000.000 are kept in one's possession. The number of people who have cryptocurrencies in the form of AWC-supported coins exceeds 40,000.
The cryptocurrency is made available on the IDEX platform as well as the Binance DEX exchange. Atomic's affiliate scheme, known as Bounty Campaigns, and the Airdrop amenity both give users the opportunity to get AWC coins as a reward for doing certain tasks.
The token provides holders of digital currencies with benefits, including, but not limited to, features for the trading desk, prizes for associate and bounty campaign participation, and aid with specialized wallets, to mention just a few features.
The Atomic Wallet platform can accommodate more than 500 different cryptocurrencies and tokens. Binance Coin, Brave Attention Token, Bitcoin, Bitcoin SV, Bitcoin Cash, Chainlink, Cardano, Cosmos, Dash, EOS, Ethereum, Litecoin, Monero, NEO, OmiseGo, Ripple, Stellar, Tron, Tether USD, Tezos, and VeChain are some of the prominent cryptocurrencies that may be stored in an Atomic wallet.
Atomic swaps are supported on any device that runs an operating system such as Microsoft Windows, Apple macOS, or Linux. In point of fact, Atomic Wallet is compatible with a variety of Linux distributions. These distributions include Ubuntu, Debian, and Fedora. Atomic Wallet is downloadable on mobile devices through both the Google Play Store and the App Store, which are dedicated to Android and iOS, respectively, operating systems.
It is necessary for the user to access their wallet within the Atomic wallet software or platform before they can make any purchases of cryptocurrencies or Bitcoin tokens. It is necessary to click the 'Buy Crypto' button, which is located on the navigation option on the left side of the wallet. After that, the landing page to select a certain cryptocurrency coin will open up, and more information, including the required quantity of coins as well as other particulars, will need to be typed into it.
In the details area, $50 is the least significant digit that can be entered as a value. The anticipated sum, which will be delivered in crypto coins, will be based on an interchangeable value. This assessment takes into account all of the fees collectively.
Clicking the Continue button should be done after the information has been verified in many places. The associate of the wallet Simplex will offer a form to fill out with further information, which may include billing information, person identity information, bank card information, and other similar details. Following the completion of the required field, the next step requires clicking the "Pay Now" button in order to move on to the following step.
The following step is to simply authenticate yourself by mobile devices or by using an email address. The digital currency is then sent to the Atomic wallet once the verification process conducted by Simplex has been completed and all of the information has been supplied.
Is the Atomic Wallet a Secure Option? The reality of the situation is that the platform for digital trade is very securely safeguarded. It is a safe front end that provides access to blockchain networks and cryptocurrency money.
However, the user is responsible for maintaining vigilance when trading and conducting their own independent research. The platform is open-source, and it prudently decreases the risks that are associated with fintech as well as the concealed hackers that want to gain the password credentials for the device wallet.
Using the hardware Atomic wallet that the platform makes available to investors, crypto trading risks may be properly managed and mitigated. The encrypted private keys for the user's Atomic wallet are stored on the user's digital device and are provided by the Atomic wallet.
When they lose access, the subsidized backup phrase password that was supplied to the Atomic wallet platform at the beginning stage needs to be kept secure. This subsidized backup phrase password is an entrance that allows the user to obtain access to the currencies that are stored in their Atomic wallet. A hard duplicate need to be kept in one's possession in order to safeguard the backup term, and this copy ought to be protected within the safe deposit facilities of the fiat accounts.
Users who need assistance with crypto trades may get it by going to the landing page of the Atomic wallet, which can be found at atomicwallet.io/support. Customer assistance, in the form of mobile support, support for staking, support for debugging problematic transactions, support for assets, and queries to be addressed while buying cryptocurrency, all contribute to improve the transactional experience of using a cryptocurrency exchange.
For instance, throughout the course of an exchange, customer help is provided in the event that support is necessary about the transfer of cryptocurrency or the order history. At this point, the investor is tasked with opening their Atomic wallet and clicking the option labeled "Contact Atomic Support About This Exchange." When you are on the receiving end of this procedure, you will be sent to their email for Atomic wallet exchanges, and a response will be slated to arrive within an hour.
When it comes to the Atomic wallet platform, the benefits far exceed any potential drawbacks. The conclusion, in a nutshell, is that the native tokens and wallet exchange platform is a frontrunner when it comes to the predominant blockchain network exchanges that are stored in the cryptocurrency market. This is the ultimate judgement.
On the platform that was designed for desktop wallets, there are more than 500 currencies, and a combination of ERC-20 crypto assets is also accessible. Atomic swap updates, which allow users to participate in the network for a small number of coins, are a very lucrative proposition for many blockchain networks. It has rebranded itself as new software that offers exchanges for digital currency, and it plans to make further upgrades as there is opportunity for improvement and acceleration of the process.
Tweets by CoinMarketCap
The functionality of an atomic wallet is a sort of cold wallet in which all of the user's information and passwords are stored on the user's own digital equipment. Because Atomic does not exercise any administration over the digital assets, the exchange platform is comparable to a bank safe deposit box in terms of the level of risk involved in terms of the potential for losing cash.
An unrestricted address is required of the user in order for money to be credited from the Atomic Wallet. After that has been made available, the currency may be chosen from the available coins in the Atomic wallet, and an investigation into the specific coin's history can then be carried out. After the evaluation of the coin, the click button must be activated, the public address must be entered, and the cryptocurrency assets must be deposited.
Through the encrypted interface of the Atomic Wallet's trading platform, users may have access to blockchain networks and cryptocurrency funds. On the user's own device, a robust encryption system makes it possible to access both private keys and a subsidized password in the event of an emergency.
Reviewed by Arpita Singh
Arpita Singh is the main writer at ForexBroker.ae. As a senior investment professional with 10+ years of experience working at top-tier Private Equity and Sovereign Wealth Fund; she is also responsible for fact-checking concepts, reviews, and related details about brokers and exchanges listed on this website. Full Bio.