What is an Atomic wallet?
Atomic wallet is a decentralized multi-currency non-custodial wallet that supports more than 300 tokens including all the top Blockchains. It is the first wallet that supported cross-chain technology i.e Atomic Swaps.
An atomic swap is a smart contract technology which allows the users to exchange one cryptocurrency with another without using any exchange or centralized intermediaries.
This platform provides a single secure interface to users to Manage, Exchange, Stake, and Buy their crypto assets.
Currently, BTC, BCH, ETH, LTC, XRP, XLM, BNB, TRX, ATOM, DAI, PAX, BUSD, NANO, USDT, DASH tokens are available for buying.
For purchasing: USD, EUR, AUD, RUB, KRW, CHF, CZK, DKK, NOK, NZD, PLN, SEK, TRY, ZAR, HUF, ILS currencies are available.
Simplex, an Atomic wallet’s partner and a licensed financial institution supports all cryptocurrencies purchases to ensure online fraud-free payment processing solutions.
They also provide the facility to the users to buy Bitcoin, Ethereum, or any other top cryptocurrency with a credit card. They accept USD, EUR, and local currency worldwide.
Founded and Growth
Atomic Wallet was founded by Konstantin Gladych, in early 2018. Konstantin is also the co-founder and CEO of Changelly.com, a cryptocurrency exchange with a $0.5Bn monthly turnover supporting more than 2 million active customers monthly.
Within six months, the Atomic wallet has achieved a user base of over 150,000 active wallet users.
Fee
Cryptocurrencies buying involves 2 sets of fee:
- Atomic Wallet takes a 2% fee and a minimum of 10$ per operation.
- Credit/debit card bank processing fee. Since it involves high-risk operations hence this fee can be quite high (around ~ 5%).
Important: Users will also pay the network fee to include your transaction on the blockchain. This network fee is paid to miners like any other crypto transaction.
Find more details related to the transaction fee here.
Staking
The atomic wallet allows the users to stake their cryptos with zero staking fess. Users who participate in staking can directly receive rewards from the validators.
Find more details here.
Supported OS
Features
- Private and Secured
- Anonymous-No need for KYC and AML verification checks
- 24/7 live support
- Supports both mobile and desktop platforms.
- Inbuild atomic swap functionality.No need of third party exchange for cross-chain transactions.
- Supports more than 300+ tokens and collectibles.
- Token staking facility.
- Based on AES Symmetric encryption technology.
- Non-custodial wallet-Users will have full custody and control over their private keys
Team
Partners
Achievements So far
Let us look into the achievement of the company since its inception.
2018 Achievements
- Support for top 25 blockchains and over 300 tokens including all top tokens which can be managed securely in the Atomic desktop application.
- Add and manage custom ERC20 tokens.
- The atomic community grew to 100K users.
- 5M AWC gets distributed until the end of 2018. Listed in IDEX to trade AWC.
- Integrated with Simplex to support Visa / Mastercard transactions in buying XRP, Bitcoin, Litecoin, Bitcoin Cash, and Ethereum within the wallet application.
- Integration with built-in exchange Changelly SHAPESHIFT and ChangeNOW to support crypto exchange instantly.
- Released mobile wallet application in alpha.
Work was done in 2019
- The mobile app released for Android and iOS.
- The desktop version upgraded. Supports features like Auto-update for Windows, Instant balance and history updates, Instant transaction notifications, Adjustable window width.
- 200K users downloaded the application(desktop and mobile) all over the world.
- AMA sessions hosted in Telegram every month with different projects like Looprings, Matic, Verge, etc.
- Staking support for PoS assets like ATOM, XTZ, TRX, ONT, NEO, ALGO, KMD, VET, BTT, WINk, etc in the wallet.
- 20 new assets(Cosmos, Nano, Algorand, Ontology Gas, Nem, Zilliqa, Komodo, Raven, Ark, Aeternity, and others) added
- Enhanced support service with quick response time.
- Membership reward program organized to attract users.
The company is working hard to embed the latest features in their product and as a result, they are continuously working on version update almost every month. Below are the main features that they have achieved in the year 2020 so far:
- Buy DASH and stable coins: DAI, PAX, BUSD, Nano with a bank card in 18 fiat currencies.
- JUST (JST) token added. Airdrop supported for the TRX holders.
- New asset: Hedera Hashgraph (HBAR).
- Provide the facility to buy crypto with AUD, CAD, GBP, RUB, JPN, and 13 more fiat currencies.
- Dash and stable coins: DAI, PAX, BUSD can be purchased with a bank card.
- Non-Custodial Staking for Tezos, Cosmos, Tron, Komodo & other assets
- In April the support team reacted to 4,497 issues in almost 21 minutes on average.
- Soon ICX token will be available in Atomic wallet for exchange and staking.
However, the company has planned to achieve the following features until the end of the year 2020.
- Portfolio discovery and price charts
- Localization for most popular languages
- 10-20 new assets with own blockchains: Hedera (HBAR)
- Staking support for 5-10 new assets
- Lightning payments implementation
- Hardware wallets integration (Trezor, Ledger)
- New fiat gateways (buy crypto with better rates)
- New instant exchange partners
- Most popular DeFi services integration
- Borrow and crypto lending services
- Affiliate program launch based on AWC token
- Instant assets updates for mobile
- Push notifications and price alerts on mobile
- Trading desk for major exchanges
- Wallet design update
Comparison between Trust wallet, Enjin Wallet and Atomic Wallet
Drawback
- Not listed in the big crypto exchange.
- Circulating supply is quite less (less than 10%) than that of the total supply. So when the remaining supply will be made available then there is a chance of price drop.
- Hardware wallet support is not present.
- High fees for credit card purchases.
Connectivity
Website
Youtube
Medium
Telegram
Conclusion
Atomic Wallet is a multi-crypto wallet that provides features of atomic swap function, credit card purchases, and trading options to its users. But, If we look into their product development growth chart they are constantly trying to cater users with the latest version so that it can meet end-users expectations keeping their asset and data safety and security as a primary component. A highly skilled and dedicated team along with the erupting technology like the atomic swap can give tough competition to other existing wallets.
Read My earlier post regarding my experience in installing an Atomic wallet here.
References: Atomic Wallet website
Read More: Understanding SegWit
