Atomic Wallet Review

Atomic Wallet is a non-custodial crypto storage solution that provides various additional features related to the cryptocurrency space. However, its high fees for swaps and fiat-to-crypto purchases hamper its performance.
Jay Leonard
Posted by: Jay LeonardUpdated Jul 19th, 2023

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Selecting a crypto wallet is one of the most critical decisions for an investor to make. While many options are available, Atomic Wallet is consistently considered a contender for the top spot. But how does it perform in the real world? Throughout this Atomic Wallet review, we'll be explaining the wallet's features, fees, security, accessibility, and overall performance to help our readers decide whether it's right for them.

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Our Take

HedgewithCryptoScoreOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
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Bottom line:

Atomic Wallet is a cryptocurrency software wallet designed for ease of use and security. The wallet has an intuitive interface with excellent support documentation to help beginners store their crypto investments without any complication. Unfortunately, it doesn't offer native hardware wallet integration like its competitors, which could be an issue for the more security-conscious and high-net-worth individuals. In short, it's a good crypto wallet for most crypto investors to store their assets.

  • Non-custodial wallet
  • Good range of supported assets
  • Straightforward to use
  • High fees for swaps and purchases
  • No hardware wallet integration

Pros Explained

  • Non-custodial wallet. Atomic Wallet gives its customers true ownership of their crypto assets, making it an excellent option for security-conscious investors.
  • Good range of supported assets. With support for over 500 assets across more than 20 blockchain networks, Atomic Wallet is a strong choice for those looking to store a diverse selection of investments.
  • Straightforward to use. Despite Atomic Wallet providing several features outside of crypto storage, it remains easy to use and therefore is worthy of consideration for beginners and more experienced crypto enthusiasts.

Cons Explained

  • High fees for swaps and purchases. Buying crypto or swapping tokens using Atomic Wallet is extremely expensive and should only be used as a last resort. There are cheaper places to convert crypto-to-crypto.
  • No integration for hardware wallets. Although Atomic Wallet offers great security, its lack of native hardware wallet support will likely turn away those looking to add additional protection to their crypto wallets.

Atomic Wallet At a Glance

Atomic Wallet is a non-custodial wallet launched in 2017 and trusted by millions of users worldwide. Headquartered in Estonia, Atomic Wallet provides several features related to decentralized finance (DeFi), making it popular with many crypto enthusiasts despite technically being unregulated.

Wallet NameAtomic Wallet
FeaturesCrypto Swaps, Non-Custodial, Native Token, Fiat-to-Crypto Gateway, Staking, NFT Support
Accepted Fiat CurrenciesUSD, EUR, GBP, AUD, CAD, +83 Others
Deposit MethodsCrypto, Credit/Debit Card, Bank Transfer
Supported Cryptocurrencies1,398
PricingFree (Fees Apply for Swaps and Purchases)
Customer SupportHelp Center, Email
Security MeasuresNon-Custodial, AES-256 Encryption, 12-Word Recovery Phrase
Mobile AppYes (Android and IOS)

Review of the Top Atomic Wallet Features

Non-Custodial Storage

One of the best features of the Atomic Wallet software is its non-custodial nature. In a non-custodial crypto wallet, like Atomic Wallet, the user has ownership of their private keys and therefore has far greater control over their funds and doesn't have to worry about losing their investment if the company in control of the wallet goes under or gets compromised.

On the other hand, custodial wallets, like those offered by centralized crypto exchanges, own a wallet's private keys, meaning the user doesn't have true ownership of their crypto coins. Therefore, the Atomic Wallet offers a premium level of security for assets compared to custodial wallets and exchanges.

Instant Exchange

A feature we found helpful while performing testing for our Atomic Wallet review is the dedicated instant exchange. Functioning more akin to a crypto swaps platform than a typical exchange, customers can swap one of the hundreds of supported coins for another in seconds by inputting the asset and amount to swap before pressing the exchange button.

While the built-in exchange is highly convenient, and the Atomic Swaps offer a fast way to exchange tokens, it comes with high fees that significantly impact real-world usability. On a $100 transaction, the user will pay close to 5% in fees plus a nearly $10 network fee, meaning the actual cost of swapping on Atomic Wallet can be around 15% of the transaction value.

Atomic wallet instant exchangeAtomic wallet instant exchange

Atomic Wallet Coin (AWC)

As with many exchanges and services within the crypto space, Atomic Wallet has created its own cryptocurrency, aptly named the Atomic Wallet Coin (AWC). The asset has two versions: Ethereum's ERC-20 architecture and Binance's BEP-20 model. The tokens have a combined fixed total supply of 100 million tokens, of which around 10 million are in circulation at the time of writing.

The primary uses of the Atomic Wallet Token include staking and an intriguing membership program enabling users to earn cashback rewards. Based on the membership level determined by AWC holdings, customers can receive a portion of their fees back when using the built-in Atomic Swap exchange.

That said, even the highest membership, which provides 1% cashback, will only return about $10 worth of AWC on a $1000 transaction, while the customer will pay approximately $30 in fees, bringing the transaction fees to around 2%, which is extremely high for basic swaps or purchases.

Membership LevelAWC HoldingsCashback RewardsMax Monthly Cashback

Fiat-to-Crypto Gateway

Although Atomic Wallet is designed primarily for existing crypto holders aiming to beef up their security through the use of a non-custodial storage provider, it's also possible to buy cryptocurrencies directly within the wallet with fiat.

Buying crypto on Atomic walletBuying crypto on Atomic wallet

Unfortunately, the fiat-to-crypto service offered by Atomic Wallet is provided by its partner Simplex. As such, users wishing to purchase cryptocurrency this way are subject to very high fees, ranging from $10 to 5%, whichever is higher.

Nevertheless, Atomic Wallet's cash-to-crypto service provides a convenient way for crypto investors to make their first foray into the market using a Mastercard/Visa bank card or a bank transfer through Nuvei via SEPA or Swift.

Crypto Staking

While researching for our Atomic Wallet review, we were impressed by the crypto-staking capabilities offered by the decentralized wallet. Without registering or linking an Atomic Wallet account to another platform, customers can stake 21 crypto assets to earn annual yields ranging from 1.63% on VeChain (VET) to 22% on Cosmos (ATOM).

Atomic Wallet is surprisingly competitive across yield and supported coins compared to other crypto-staking platforms. For example, although Binance offers a similar yield for ATOM (21.9%), customers can only earn 2.7% from staking ETH, almost half the amount (5%) provided to Atomic Wallet customers.

Atomic Wallet stakingAtomic Wallet staking

NFT Support

The Non-Fungible Token (NFT) market is one of the world's fastest-growing asset classes and has constantly unveiled new use cases. As such, it's great to see that Atomic Wallet enables users to store NFTs created on six networks, including Ethereum, Solana, Matic, the Binance Smart Chain, Avalanche, and Fantom.

Setting up Atomic Wallet

Creating and setting up an Atomic Wallet account is straightforward and takes only seconds to complete. Because Atomic Wallet is unregulated, there are no Know-Your-Customer (KYC) requirements to worry about. Instead, users must create a password and note down their 12-word recovery phrase. After doing so, the wallet will be ready for use.

Supported Fiat Currencies and Deposit Methods

Customers wishing to purchase cryptocurrency using fiat can do so on Atomic Wallet through its partner Simplex. To ensure its services are accessible, Atomic Wallet supports credit/debit card and bank transfer payments in 88 fiat currencies, including USD, EUR, GBP, and AUD. Additionally, crypto can be sent to and withdrawn from Atomic Wallet without restrictions.

Supported Cryptocurrencies

Atomic Wallet is a multi-network cryptocurrency wallet. As such, it supports a massive variety of assets. In total, users can store 1,398 cryptocurrencies across 46 blockchains, making Atomic Wallet highly versatile and one of the best platforms for storing a well-diversified crypto portfolio.

Atomic Wallet Supported AssetsAtomic Wallet Supported Assets

Atomic Wallet Compared and Alternatives

While Atomic Wallet is a leading crypto storage solution, other options are also available. Below, we've included a table comparing Atomic Wallet to other well-known wallets we've reviewed for storing cryptocurrencies such as Trust Wallet, Metamask, and Exodus Wallet.

WalletSupported CryptosPricingMobile AppBuilt-In Exchange
Atomic Wallet1,398FreeYesYes
Trust Wallet4.5+ MIllionFreeYesYes

Atomic Wallet Pricing and Fees

Atomic Wallet is a 100% free wallet to download and use. There are no fees charged for depositing or withdrawing crypto to and from the wallet. Although, using its other features will incur fees. These include the instant exchange which incurs a charge between 3% to 5%, plus an extra network fee of as high as $15.

Other costs involved are a 5% or $10 (whichever is higher) on top of Atomic Wallet's 0.5% fee for buying crypto through the wallet. So while the wallet is free to use, the other products offered are very expensive to use (and should be avoided).

Atomic Wallet Ease of Use

As a crypto wallet is used daily, considering ease of use is vital when selecting which option to choose. Thankfully, Atomic Wallet is free from a complex setup or a needlessly convoluted interface. Instead, the wallet has opted for a no-frills approach even a beginner could utilize without issue.

After setting up an Atomic Wallet account, the customer is shown a simple user interface that is navigable via the concisely labeled sidebar. Each feature is easily accessible and offers enough information for a user to determine how it works.

Atomic Wallet PortfolioAtomic Wallet Portfolio

Sending and receiving cryptocurrency is straightforward, with any fees and an estimated completion time displayed transparently. To send a transaction, users have only to input an address and amount, making the process as simple as possible. Additional features, like the instant exchange or staking, boast a simple interface and are equally accessible.

Atomic Wallet is simple enough that even a total novice could use it without additional instruction. Furthermore, with Atomic Wallet valuing transparency and clearly stating any fees, it's an excellent choice for anyone looking for a secure and highly accessible crypto wallet.

Atomic Wallet sending bitcoinAtomic Wallet sending bitcoin

Atomic Wallet Mobile App

On top of its support for desktop computers, Atomic Wallet has created an app available for Android and iOS devices. The Atomic Wallet app is well-designed, simple to use, and boasts the same great features the desktop version offers. Overall, the app has a 4.3/5 star rating on the App Store which is an excellent reflection of its ease of use.

Users can set up Atomic Wallet on mobile devices by providing a password and noting their recovery phrase. After doing so, all features will be accessible to the user. However, it's worth remembering that the password will be needed every time a user opens their wallet, so it's crucial to use something memorable.

Atomic wallet app screenshotAtomic wallet app screenshot

The option to send and receive crypto is present after tapping on an asset, and due to the simple interface, it's accessible to everyone. Other features, like staking or the instant exchange, are accessible via the bottom navigation bar and work as intended.

The Atomic Wallet app is well-designed and boasts the same feature set as the desktop platform. However, while the app operates correctly, there is a known glitch where the wallet can display the wrong assets, confusing users. Thankfully this issue can be resolved with a quick restart, but it's something to be aware of before using the app.

Customer Support

While creating our Atomic Wallet review, we were disappointed by its lackluster support despite the platform's prevalence in the industry. While customers can contact the support team via email, response times vary significantly, ranging from hours to days. Furthermore, there is no live chat or phone support option, hindering accessibility.

On the other hand, the Atomic Wallet team has built a comprehensive help center containing over 100 articles ranging from troubleshooting to managing assets on the platform. Additionally, each user is given a unique and anonymous Atomic ID that can be referred to get tailored support without hassle.

Security Measures

With crypto wallets storing customers' investments, security is paramount. As Atomic Wallet is decentralized, the company has no way to access user funds helping to keep its customers safe. Furthermore, any client data stored on Atomic Wallet is obscured using AES encryption to prevent information from being leaked due to a client having a compromised computer.

Unfortunately, Atomic Wallet doesn't presently offer native hardware wallet integration. While this is unlikely to cause issues for most users, it negatively impacts the overall safety of Atomic Wallet.

Furthermore, Atomic Wallet uses a 12-word recovery phrase rather than the more modern 24-word variant, meaning that, in theory, a private key could be cracked in half the time as a 24-word wallet. That said, Atomic Wallet is very secure and has never been hacked. So long as users employ proper precautions, the software should be perfectly safe.

Frequently Asked Questions

Atomic Wallet is one of the most secure software wallets available. Although it doesn't offer the same protection as a leading hardware wallet like a Ledger or Ellipal Titan, Atomic Wallet provides safe storage for crypto assets.

TRC-20 is the architecture used by assets created using the Tron smart contract, similar to ERC-20 coins and Ethereum. Atomic Wallet offers full support for storing Tron and any TRC-20-based assets.

No, while Atomic Wallet is non-custodial (meaning it doesn't take custody of a wallet's private keys), it is considered a software wallet rather than a cold wallet and offers no hardware-based protection.

Final Verdict and Scores

For those new to the crypto space and experienced investors alike, Atomic Wallet is an excellent crypto storage option always worthy of consideration, particularly for storing Ethereum in a secure wallet.

While Atomic Wallet offers an excellent interface and robust user protection, its fees for crypto swaps and purchases are excessively high, rendering the services almost unusable. Furthermore, the lack of native support for hardware wallet integration is surprising considering the wallet's popularity and should be considered before downloading Atomic.

However, due to Atomic Wallet's accessibility, range of supported assets, and selection of additional features, it could be the best hot wallet for the average investor. That said, investors looking to maximize their security should consider opting for a hardware wallet like a Ledger or a Trezor.

Atomic Wallet CriteriaHedgewithCrypto Rating
Features4.25 / 5
Supported Fiat Currencies and Deposit Methods4 / 5
Supported Cryptocurrencies and Trading Pairs4.5 / 5
Fees3 / 5
Ease of Use4.25 / 5
Customer Support4 / 5
Security Measures4.2 / 5
Mobile App4.6 / 5
Jay LeonardJay LeonardJay Leonard

Jay has been providing commentary on the cryptocurrency market and offering readers guidance for over three years. While primarily focused on fundamental analysis and what institutional adoption means for the industry, Jay also has experience with technical analysis, actively trading and investing in a wide range of assets.

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