Tezos is a blockchain platform with a token called “Tez” that stands out from other cryptocurrencies due to its proof-of-stake mechanism, where users are directly involved in the development process.
If you are looking to invest in Tezos, you will need a crypto wallet to hold and manage your Tez. With a wide range of wallets supporting Tezos, making a choice can be challenging. One of the most popular wallets that supports the Tezos network is the Atomic Wallet. Below, we’ll introduce you to Atomic, how it works and the advantages and disadvantages you can encounter when using this wallet. We’ll also take a closer look at the features it offers, focusing on its safety, user-friendliness, accessibility and trading functionalities.
What is Atomic?
Atomic was born in 2017, founded by Konstantin Gladych, seeking to provide its users privacy, security and convenience through their cryptocurrency wallet. Atomic Wallet is non-custodial and decentralized, which means that its users are in full control of their funds and private keys and your personal 12-word backup phrase. Unlike most of the other wallets in the category, Atomic is not an open-source wallet, but it does use some open-source components.
Atomic also provides its users with trading and crypto purchasing functionalities directly on the wallet.
Atomic Wallet Features
With the Atomic wallet, you will be able to:
- Access your wallet from your Windows, MacOS, Devian, Ubuntu, or Fedora desktop.
- Access your wallet and complete transactions on the go from the iOS and Android application.
- Store and manage over 500 different crypto assets.
- Keep your private keys on a non-custodial wallet, where your private keys are encrypted and stored directly on your device.
- Trade crypto within the wallet using a built-in exchange and swap 60+ crypto pairs.
- Buy cryptocurrency and tokens directly from the wallet through an integration with Simplex using a bank card.
- Receive a cash back for your crypto exchanges
- Stake your crypto (without any fees) and receive rewards.
Why Should You Choose The Atomic Wallet For Tezos?
The Atomic Wallet is one of the best options for beginner and intermediate users looking to invest in Tezos. It has a simple, intuitive interface that is clearly labeled and easy to navigate, even for newcomers. Additionally, Atomic users have access to 24/7 live support, in case they need assistance or run into any issue down the road.
Since the wallet can be installed on desktops and mobile devices, it is also very easy to access, allowing you to keep track of your funds, complete swaps or purchase crypto anywhere, anytime.
Other than its high-accessibility and user-friendliness, its multi-currency support also gives Tezos investors the possibility to start investing in other currencies and tokens if they so choose. Users can also buy crypto using their bank card, complete coin swaps with zero-fees and even stake a wide range of coins with zero fees directly from the wallet.
All together, these features make Atomic a great choice for those that prioritize functionality, accessibility and convenience.
Cons Of Using The Atomic Wallet For Tezos?
While Atomic offers many great features, it also comes with a few drawbacks. One factor to consider is that, unlike other software wallets, Atomic doesn’t offer any integration with hardware wallets. This means that in order to use Atomic’s user-friendly interface you’ll need to keep your private keys on your desktop and mobile devices, without the possibility of storing them safely offline. However, Atomic has stated that this is a feature they are looking to develop in the future.
Another disadvantage of this wallet is that it doesn’t allow you to exchange your crypto to fiat currency, only supporting crypto to crypto trading.
Atomic: The Verdict
The Atomic wallet is a strong contender for investors looking for a Tezos wallet that is convenient, accessible and easy to use from the start. It is easy, even for total beginners, to get a hang of all features included with the Atomic wallet due to its simple interface and extensive knowledge base. Built for desktop and mobile devices, this is a great choice for those looking to store, exchange and purchase over 500 crypto assets, including Tezos. However, more experienced investors looking for the highest level of security that prefer to safeguard private keys offline will find a better solution elsewhere, since Atomic doesn’t currently support hardware devices.