Atomic Wallet provides a sleek, intuitive platform for managing all your crypto assets. It supports hundreds of cryptocurrencies and lets you earn rewards on over a dozen of them through crypto staking. There's also a built-in exchange and crypto purchase option. However, a 2022 report claimed that this wallet has security vulnerabilities. Read our Atomic Wallet review to learn more about its pros and cons.
Ratings Methodology
Atomic Wallet
Blockchain Support
Multichain wallet that can store over 500 cryptocurrencies
Compatability
Android, iOS, Windows, MacOS, Ubuntu, Debian, Fedora
Storage Type
Cold
Atomic Wallet balances an array of valuable features with a high-quality design, making it an option to consider to store, exchange, and stake crypto. But the potential vulnerabilities weigh heavy on our rating.
- Free cold storage
- Supports cryptocurrencies and NFTs
- Easy to use
- Offers crypto staking
- Mobile and desktop support
- In-wallet crypto purchases
- Potential vulnerabilities
- Limited selection of cryptocurrencies for purchase
- Not open source
Full Atomic Wallet review
This wallet is a good fit for: Investors who want a free blockchain wallet that supports all the major cryptocurrencies. Those looking to generate passive income on their crypto will like the convenient built-in staking option.
What is Atomic Wallet?
Atomic Wallet is a non-custodial blockchain wallet that uses cold storage, with all passwords and data stored on the user's device. It's known for a user-friendly interface and for offering a variety of features, including storage for crypto and non-fungible tokens (NFTs), crypto staking, and in-wallet crypto purchases.
Top perks
Free cold storage
Most free blockchain wallets are hot wallets, meaning they're connected to the internet. Cold storage is widely considered the safer option because it's offline, but most cold wallets are hardware that you need to buy. Atomic Wallet is an exception, as it's classified as a cold wallet and is also free to use.
It's important to clarify that with Atomic Wallet, your passwords and data are stored on your device. So, if that device is connected to the internet, then your wallet is, too. If you want a wallet that's easier to keep offline, hardware wallets are a better choice.
LEARN MORE: What Is Cold Storage in Crypto?
Offers crypto staking
Staking is a popular way to grow your cryptocurrency holdings. When you stake crypto, you're using it as collateral and helping to validate transactions and secure a blockchain network. In return, you receive rewards on the amount you've staked. You can do all this quickly and easily in Atomic Wallet, which supports staking with more than a dozen cryptocurrencies.
In-wallet crypto purchases
You can buy crypto with your debit card directly from Atomic Wallet through its partner Simplex. While this is convenient, there is a 2% transaction fee plus any fees your bank charges. If you'll be investing in crypto often and making regular purchases, look into crypto apps that have lower fees.
COMPARE TOP PICKS: Best Cryptocurrency Apps and Exchanges
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What could be improved
Potential vulnerabilities
Least Authority conducted a comprehensive security audit of Atomic Wallet and published its findings in February 2022. The report states that Atomic Wallet has vulnerabilities that place users at risk, and it recommends against using the wallet. Atomic Wallet's response was that it's working on fixes and that the vulnerabilities discovered don't pose a risk to user funds.
Security is the most important factor in a crypto wallet, so any reports of vulnerabilities get a lot of attention. Based on Atomic Wallet's response, it doesn't appear the issues are serious, but this is certainly something worth looking into before you use it.
Limited selection of cryptocurrencies for purchase
Atomic Wallet doesn't have that many cryptocurrencies available for purchase. You'll be limited to some of the market leaders, so if you like to invest in lots of different crypto tokens, you'll need to look elsewhere.
Not open source
Like many crypto wallets, Atomic Wallet doesn't make its source code available for the general public to review. While we don't consider this to be a dealbreaker, some crypto investors are only comfortable storing their funds in open-source wallets because they believe it's safer.
Alternatives to consider
If you want a digital wallet with more crypto buying options: Coinbase Wallet makes it easy to buy a wide range of cryptocurrencies. If you have a Coinbase account, you can link it to your Coinbase Wallet to buy or transfer any cryptocurrency supported by the exchange.
If you want an open-source wallet: The Trezor One is an open-source hardware wallet that provides strong security for a reasonable price. It can store over 1,000 cryptocurrencies, and since it's a hardware wallet, it keeps your coins in cold storage.
| Wallet | Coinbase Wallet | Trezor One |
|---|---|---|
| Rating | ||
| Blockchain Support | Bitcoin, Ethereum, all EVM-compatible networks, Dogecoin, Litecoin, Ripple, and Stellar | Supports currencies from various blockchains, but does not interact with the blockchains themselves. |
| Next Steps | Read Review | Read Review |
What cryptocurrencies does Atomic Wallet support?
Atomic Wallet supports more than 500 cryptocurrencies. That includes the market leaders, such as Bitcoin (BTC), Ethereum (ETH), USD Coin (USDC), and Cardano (ADA), as well as quite a few smaller crypto tokens.
Atomic Wallet fees
Atomic Wallet is free to use for crypto storage and doesn't impose any extra fees on payments. When you send cryptocurrency, you're charged network fees by the blockchain to pay its validators. This fee is calculated by the blockchain at the time of the transaction.
There are fees for purchasing and exchanging cryptocurrencies on Atomic Wallet. Here's how these fees work:
- Atomic Wallet charges a 2% fee ($10 minimum) on fiat-to-crypto purchases with a bank card. Your card's issuing bank may also charge a fee.
- Atomic Wallet charges a 0.5% fee on exchanges, plus its exchange partner's commission.
Is Atomic Wallet safe to use?
Atomic Wallet provides solid security features, and it doesn't store any user passwords, data, or seed phrases on its servers. All that information is stored on your device where you've installed Atomic Wallet. If you keep your seed phrase safe and password safe, then your crypto will be secure.
It is, however, worth noting that digital security company Least Authority conducted a comprehensive audit of Atomic Wallet and claims it found vulnerabilities. In a blog post from February 2022, it states that Atomic Wallet isn't secure in protecting user assets and private data.
Atomic Wallet has responded to the audit and stated that it's working on fixes, but also that the audit found nothing critical that could result in the loss of user funds. To its credit, it hasn't been the victim of any data breaches and has a good track record. But you may want to look into Least Authority's report and Atomic Wallet's response before deciding whether this is the wallet for you.
Atomic Wallet is right for you if:
- You're looking for a cold wallet that's free to use.
- You want to be able to stake crypto and earn rewards from your wallet.
As an enthusiast and expert in cryptocurrency and blockchain technology, I bring a wealth of knowledge and experience to the discussion. My expertise is grounded in a deep understanding of the underlying technologies, market dynamics, and security considerations within the crypto space.
Let's delve into the key concepts and details presented in the article about Atomic Wallet:
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Atomic Wallet Overview:
- Atomic Wallet is a non-custodial blockchain wallet that utilizes cold storage, ensuring that all passwords and data are stored locally on the user's device.
- The wallet offers a user-friendly interface and supports a wide array of features, including storage for cryptocurrencies and non-fungible tokens (NFTs), crypto staking, and in-wallet crypto purchases.
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Features of Atomic Wallet:
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Free Cold Storage:
- Atomic Wallet stands out by providing free cold storage, a secure option offline. However, it's crucial to note that if the device is connected to the internet, the wallet is also connected.
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Crypto Staking:
- The wallet supports staking with over a dozen cryptocurrencies, allowing users to grow their crypto holdings by using their assets as collateral to validate transactions and secure blockchain networks.
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In-Wallet Crypto Purchases:
- Users can buy crypto directly from Atomic Wallet using their debit cards through its partner Simplex, offering convenience. However, there is a 2% transaction fee plus any additional fees from the user's bank.
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Potential Vulnerabilities:
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A security audit conducted by Least Authority in February 2022 reported vulnerabilities in Atomic Wallet, raising concerns about user security. The wallet's response acknowledges the issues and asserts ongoing efforts to address them, emphasizing that user funds are not at risk.
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It is highlighted that security is a paramount factor in a crypto wallet, and potential vulnerabilities should be thoroughly considered before using the wallet.
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Limitations and Improvements:
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Limited Cryptocurrency Selection:
- Atomic Wallet has a restricted selection of cryptocurrencies available for purchase, limiting users to market leaders. This may be a drawback for those interested in a broader range of crypto tokens.
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Not Open Source:
- Atomic Wallet, like many crypto wallets, does not make its source code publicly available. While not a dealbreaker for everyone, some users prefer open-source wallets for perceived security benefits.
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Alternatives:
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Coinbase Wallet:
- Recommended for those seeking a digital wallet with more cryptocurrency buying options, Coinbase Wallet facilitates easy purchase and transfer of various cryptocurrencies.
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Trezor One:
- Suggested as an open-source wallet alternative, Trezor One is a hardware wallet offering strong security and the ability to store over 1,000 cryptocurrencies in cold storage.
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Cryptocurrencies Supported:
- Atomic Wallet supports over 500 cryptocurrencies, including major ones like Bitcoin, Ethereum, USD Coin, and Cardano, as well as numerous smaller crypto tokens.
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Fees:
- Atomic Wallet is free for crypto storage but charges fees for certain transactions:
- 2% fee ($10 minimum) on fiat-to-crypto purchases with a bank card.
- 0.5% fee on exchanges, plus its exchange partner's commission.
- Atomic Wallet is free for crypto storage but charges fees for certain transactions:
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Safety Considerations:
- Atomic Wallet assures solid security features, emphasizing that user passwords, data, and seed phrases are stored locally. However, the previously mentioned security audit suggests vulnerabilities, prompting users to conduct due diligence.
In conclusion, while Atomic Wallet presents a compelling option for managing cryptocurrencies with its user-friendly interface and features, potential security vulnerabilities underscore the importance of careful consideration and research before choosing this wallet. Users should weigh the benefits against the reported issues and explore alternatives based on their specific needs and preferences.
