Atomic Wallet is a decentralized cold wallet that lets only its users manage their funds and cryptocurrencies. With the most popular cryptocurrencies and more available on the crypto wallet, it’s fitting to ask, is Atomic Wallet safe?
This review goes over how Atomic provides the tools and features necessary to keep the wallet safe.
Is Atomic Wallet Safe? Our Verdict
If your goal is to have full control of your cryptocurrencies in a safe and secure interface, one option is Atomic Wallet. The platform is built to encrypt your recovery phrase and private keys in your device. Not even the Atomic Wallet company has access to that information.
Your funds remain on the blockchain so that if there is a malfunction and the Atomic Wallet cannot continue its services, you can still access your funds via your saved private keys. Additionally, the platform uses the well-established Simplex fintech solution for its fiat-to-crypto payments, and 24/7 live chat support is available to all wallet holders.
Whether you use the desktop platform or their mobile apps, the security features remain the same.
| Features | Atomic Wallet |
| Licensed Operating Locations | Global |
| Cryptocurrencies Available | 500+ |
| Encrypted Private Keys | Yes |
| Encrypted 12-Word Key Phrase | Yes |
| Two-Factor Authentication | N/A |
| Payment Methods | Bank Cards (VISA & MasterCard) via Simplex |
Atomic Wallet Regulation & Licenses
The best crypto wallets give you the tools to easily access and perform crypto-related activities while keeping your funds safe and secure. Atomic provides all the tools necessary to keep the wallet safe, so the wallet’s security lies fully with the user. Because of this, the Atomic’s terms of service call for proper crypto research and responsibility on the user’s part.
Moreover, Atomic Wallet has the same terms of service and policies in all parts of the world. Therefore, their terms of service apply in the same way to every one of the platform’s users, independent of their country of residence.
Before using the crypto wallet, Atomic Wallet calls for its users to know and understand the terms of their product. So let’s discuss below some of the important points for security in the Atomic Wallet terms of service.
Private Keys
Atomic Wallet urges its users to note their private keys and 12-word backup phrase at least two times, stored offline in separate places. Unfortunately, atomic does not store this data on their servers, so if you lose this private information, you cannot recover your wallet.
Virtual Currency In The Blockchains
When you hold and transfer cryptocurrencies in your Atomic Wallet, the transactions are stored in the cryptocurrency’s respective blockchain. However, in no way does Atomic have control over the actual blockchains of the cryptocurrencies it offers. Hence, it’s important to understand the security of each chain that you plan on using. This also means that you’ll need to acknowledge the gas fees for the chains you wish to operate on.
Atomic Wallet User Protection & Compensation
Centralized crypto exchanges normally operate under certain financial institutions. If Atomic Wallet is not regulated since it’s not a centralized platform, is Atomic legit? The answer is a stern yes. Atomic Wallet is the Uniswap decentralized exchange (DEX), which holds over $7 billion worth of cryptocurrencies locked. Atomic is permissionless and doesn’t require KYC in most cases, so anyone from anywhere can create a wallet.
Compensation In AWC
After inquiring with Atomic Wallet’s customer services, we found out that some compensation in Atomic Wallet Coin (AWC) may be given for certain inconveniences the platform might cause to its users. In the statement, they mentioned:
“We understand that sometimes there might be some technical issues with the wallet. And though they will never affect the safety of your coins, and our developer team usually responds and fixes them as soon as possible, they still can prove to be a little inconvenient. So in these rare cases, we would gladly send compensation in AWC for the troubles caused.”
Based on Atomic Wallet’s cap on liability in their terms of service, compensation of up to $50 could be received.
How Atomic Wallet Protects Your Account
As we touched on earlier, your private keys and 12-word recovery phrase in Atomic are encrypted in your device and are not stored in their databases. This gives you the responsibility of securing the codes yourself in an offline setting.
Since Atomic Wallet gives you full control of your wallet via your private keys, you can use them to manage your funds without their services still. The platform also has a log collection feature that automatically collects bugs and errors in the application. Data is kept fully anonymous and is used to improve the user’s experience, which can be secured or interface-related.
Are Payments Secure On Atomic Wallet?
Atomic Wallet payments are powered by Simplex, a third-party crypto fintech solution. Simplex is EU-licensed and backs its services with no security incidents and high conversions. In addition, they have supported purchases of over 130 cryptocurrencies and over 115 fiat currencies among their many partners.
Even if the Atomic Wallet requires fast and efficient payment processing for crypto, it makes sure that security and reliability are not sacrificed. Simplex makes all of this work and even guarantees the money back if a transaction fails on their end.
Is Atomic Wallet A Listed Company?
A listed company like Meta Platforms, formerly known as Facebook, has public shares that anyone can purchase. Being a listed company shows that you are a trusted brand looking to grow sustainably in the future.
Atomic Wallet was launched in 2017 and is a startup that has seen exponential growth in terms of overall app downloads. The company garnered around 50 thousand downloads in the third quarter of 2018, which has ballooned to over 3 million today.
They’ve also been adding key features that have given their application a lot of value through the years. They quickly adopted staking services in 2019 and added a portfolio plus price charts for quality of life. Over 500 cryptocurrencies are available on the platform, ranging from the most popular cryptos to the top altcoins.
The Atomic Wallet Coin is already listed in many major centralized exchanges, and if the wallet platform continues this trajectory of growth, an IPO might already be on the horizon. Either way, Atomic Wallet has already established itself as a trustworthy non-custodial wallet service.
How Many People Use Atomic Wallet?
According to the official site, over 3 million users trust Atomic Wallet worldwide. Furthermore, the application is a strong favorite, with an overall rating of 4.6 out of 5. Additionally, Atomic is backed by many positive reviews on Trustpilot and has been featured in over 15 crypto and investing media sites since 2020.
Atomic Wallet Customer Service & Contact
Upon using the Atomic Wallet’s customer service for this review, we were met with prompt and substantial responses that were helpful and educational. We want to highlight that the live chat and email responses link to relevant help articles, and the articles themselves were easy to understand.
The Atomic Wallet company’s head office can be found in Tallinn, the capital of Estonia. The contacts details for their divisions are listed below:
- Support Team – [email protected]
- Partnership – [email protected]
- Marketing – [email protected]
How To Keep Safe When Trading With Atomic Wallet
Let’s look at ways to ensure that your funds and wallet are always secure in the Atomic Wallet platform.
Store 12-word Backup Phrase Offline
The Atomic Wallet documentation cannot stress just how necessary it is to have your 12-word backup phrase stored safely offline. Ensure that you have at least two offline copies and avoid keeping any of them digital like in your device’s notes app since an unwanted party can easily access them.
You cannot replace your 12-word mnemonic phrase, so you can really lose your account if you forget the security phrase or misplace it.
Save Your Private Keys
Even if millions use and can vouch for Atomic Wallet’s reliability and security, it’s always a good idea to have a backup plan if they cannot operate anymore. Just like storing non-digital copies of your 12-word security phrase, Atomic recommends writing down your wallet’s private keys in two separate places.
If Atomic Wallet shuts down, you can still tap into the blockchains that hold your funds.
Clean Your Device Of Viruses And All Malicious Software
One of the largest and harshest barriers for people to get into cryptocurrencies is the fear of getting their accounts and wallet hacked. The crypto sphere is no stranger to scams and phishing schemes, but if you practice responsible internet use, there shouldn’t be anything to fear.
Ensure that the device where you want to install the Atomic Wallet application has been cleaned of viruses and all other malicious software. You can use your operating system’s native antivirus program for this, but if you think that there’s still a chance that your system is infected, you might want to try more premium antivirus software for this.
Is Atomic The Best Crypto Wallet?
Atomic Wallet brings an extra level of control over your invested cryptocurrencies. But, as a crypto wallet that’s best overall, it’s hard to dismiss the Best Wallet. It is a cutting-edge, non-custodial mobile app offering multi-chain support, exclusive market insights, and high-security measures.
The wallet removes the need for multiple wallets by providing a single platform to manage your tokens across Ethereum, Polygon, and Binance Smart Chain (BSC). Plans to integrate the Bitcoin blockchain are also in the pipeline, increasing its utility further.
Moreover, it has an integrated decentralized exchange, Best DEX, allowing users to swap tokens across blockchains without needing a separate app.
The best part? No registration or Know Your Customer (KYC) procedures are required. You can just connect your wallet, and you’re ready to trade.
The $BEST token is a utility and governance token within the ecosystem. Staking these tokens offers users various perks such as feeless swaps, crypto presales, and NFT drops. Also, weekly tasks and active usage can make you eligible for exclusive $BEST token airdrops.
A unique feature of Best Wallet is its “Market Insights,” offering users real-time industry news, token analytics, and event updates. This tool aims to remove the need for external crypto analysis apps, as all the information you need is integrated into the app.
Based on its roadmap, Best Wallet aims to roll out new user-focused features in the coming months. Users can look forward to additional features, including multi-wallet support, in-app swaps, biometric security, and a dedicated crypto news feed in upcoming phases.
Moreover, the wallet prioritizes high security. Beyond the basic four-digit password, it uses advanced cryptographic techniques, two-factor authentication, and optional biometric measures like fingerprint or face ID for better security.
To stay updated on all the latest developments, users can join the Best Wallet Telegram channel or follow them on other social media platforms like X (Twitter). These platforms provide the latest information on new features and airdrop announcements.
Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk
Bottom Line
As a decentralized wallet, everything boils down to the question: is Atomic Wallet legit? As a 4-year-old company going on its fifth with over 3 million users and 500 supported assets, Atomic is a safe and established platform for storing cryptocurrencies.
However, some users might be looking for a beyond safe and legit platform. The Best Wallet gives you high security and full control of your crypto assets. On top of this, you get to easily use the in-built DEX to trade cryptos at low costs. Create an account to start storing and trading crypto-assets, click on the link below, and start your crypto investing journey with Best Wallet!
Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk