If you are planning on investing on Ethereum, you will need a secure and functional wallet to manage your assets. Among the many software wallets that support the Ethereum network, we find Atomic, a non-custodial hot wallet that is becoming a favorite among beginner and experienced investors.
In this guide, you’ll learn everything you need to know about the Atomic wallet, taking a look at its features, strengths and shortcomings.
Konstantin Gladych created Atomic in 2017 in order to provide investors with a wallet that met their privacy, convenience and security needs. Like other hot wallets, Atomic is non-custodial, meaning that its users retain full ownership and control over their private keys. However, you should keep in mind that the Atomic wallet is not open-source, so its code isn’t available for all, which can raise some security concerns.
Besides helping you store your assets’ private keys, Atomic also allows its users to buy and trade crypto directly from their wallet. All of these features are available on an intuitive and user-friendly interface. As of today, Atomic has 3 million users around the globe.
Atomic Wallet Features
Atomic Wallet runs on desktop devices and supports a wide variety of operating systems. It is available for Windows, MacOS, Debian, Ubuntu, or Fedora devices. You can also use the Atomic wallet on iOS and Android devices and complete transactions anywhere, anytime via its mobile app.
Atomic Wallet establishes a direct connection with the blockchain nodes and displays information about your balances, transaction history, and whatever else you view when using the wallet.
Atomic wallet currently supports over 500 different cryptocurrencies including Ethereum (ETH), making it one of the best options for those with a diverse crypto investment portfolio. Among the most relevant supported cryptocurrencies, we find:
- Bitcoin Cash
- Tether USD
- Binance Coin
While not fully open-source, Atomic does deliver a good suite of security features to its users. As a non-custodial wallet, Atomic doesn’t have access to your private keys. Instead, these are stored and encrypted directly on your device. Your wallet is further protected by your password and recovery seed, guaranteeing you are the only one that can access your funds. While these security measures are great, you should keep in mind that software wallets, unlike hardware wallets, are always vulnerable to hackers and cyber attacks.
In terms of privacy, Atomic fares really well as it doesn’t require its users to verify their identity or complete KYC documentation as with centralized exchanges.
Buying Ethereum and other cryptocurrencies like Bitcoin, Litecoin and Ripple is as easy as can be. All you need to buy cryptocurrency is your wallet and a bank card. This is a major advantage for beginners who can safely start buying crypto using their local currency. These purchases are processed by Atomic’s partner Simplex.
However, you should keep in mind that Atomic doesn’t offer crypto-to-fiat exchanges, so casing out your balance directly to fiat using the wallet is not possible.
You can trade cryptocurrencies directly from the wallet’s interface using the built-in exchange features available for more than 60 crypto pairs. Users pay network fees on transactions, plus an additional 0.5% exchange fee and a commission to exchange partners.
To complete a trade, all you have to do is go to the Exchange tab on the wallet, select a crypto pair and set the amount you want to trade.
Atomic gives users several options to earn on their crypto. One of the supported features that allow you to generate a passive income is staking. While there’s no staking for Ethereum, you can stake other crypto such as Solana, Cardana, Zilliqa , Tezos and its own token Atomic Wallet Token to obtain rewards. You can stake any amount. Plus, Atomic gives you the option to unstake your crypto at any time.
If you are looking for more earning opportunities, the wallet also offers cash back for crypto exchanges, allowing you to make the most out of your trades.
Atomic offers 24/7 live chat and email support, as well as having an extensive knowledge base their users can refer to.
- Supports a wide range of cryptocurrencies (500+ assets)
- On-wallet crypto trading and staking.
- Supports purchasing crypto using fiat (using a bank card).
- Beginner-friendly features and intuitive user interface.
- Not fully open-source.
- No integrations available for hardware wallet.
Is Atomic Wallet a right fit for you?
Atomic wallet is a great choice for those looking for a non-custodial software wallet for Ethereum, especially if investing in other cryptocurrencies at the same time. It is also great for beginners due to its easy-to-navigate interface, compatibility with multiple devices and operating systems and fiat crypto purchases. However, users looking for stronger security measures might be discouraged by the fact that Atomic isn’t fully open-source and the lack of hardware wallet integrations.