The Industry-Leading Atomic Wallet Strategically Partners With Band Protocol (2024)

FAQs

Who controls Atomic Wallet? ›

Atomic Wallet is a non-custodial decentralized wallet. It means that you own your backup phrase and private keys, thus, you fully control your funds. We have no access to your wallet and your sensitive information.

Because Atomic Wallet is non-custodial, users are expected to ensure the safety of their own 12-word backup phrase and private keys. These are stored locally on their device, where they are strongly encrypted. Atomic won't ask for any personal information, so you can stay relatively anonymous while using the wallet.

Atomic Wallet, the noncustodial cryptocurrency wallet, suffered a massive $100-million exploit in mid-June 2023. The breach affected at least 5,500 crypto accounts on the platform.

Atomic Wallet is a cryptocurrency wallet that was founded in 2017 and headquartered in Tallinn, Estonia.

Your assets are stored on the blockchain.

Since Atomic Wallet is just an intermediary between you and the blockchain, your coins aren't stored by us. You're free to export your private keys anytime, and your funds wouldn't be put at any risk if our company was to close down.

The hackers managed to exploit a vulnerability within the wallet's infrastructure, gaining unauthorized access to private keys and siphoning off user funds. The exact extent of the hack is still being determined, but preliminary reports suggest that millions of dollars' worth of cryptocurrencies were stolen.

The main risk in Atomic Wallet is if you lose your backup phrase or send it to another person.

Konstantin Gladych is the CEO at Atomic Wallet . Additionally, Konstantin Gladych has had 1 past job as the CEO & Co-Founder at Changelly .

Atomic Wallet offers more staking options, and the ability to swap between any supported tokens. Exodus offers a browser plug-in (which Atomic does not) and has a slicker interface. So the choice mostly comes down to personal preference, and if the app supports the blockchain and fiat options you need.

If you want to withdraw money from this wallet to a fiat currency, like US dollars, Euros, or Pounds, you'll have to first transfer your crypto to Zengo (or another wallet or exchange that supports a fiat offramp gateway). You can then withdraw directly from Zengo to your bank account in fiat currency.

Is Atomic Wallet better than Coinbase? ›

If you want to get a brief understanding of Coinbase vs Atomic comparison results, take a glance at the short table below. By comparing Coinbase vs Atomic overall scores, we clearly see that Coinbase has the higher overall score of 9.1. Atomic, on the other hand, has scored 6.1 final points.

"Atomic Wallet boasts a user base of over 5 million individuals worldwide. The platform, which places the responsibility of asset storage on its users, is now facing intense scrutiny due to stolen tokens, erased transaction histories, and even entire crypto portfolios being pilfered," the note read.

The Atomic Wallet has its own integrated quick purchasing service. It is one of the forms of cryptocurrency quick-buy platforms. This one is among the quickest ways and it suits all the US regulations at the same time. It's totally secure and legal to buy crypto in it.

Atomic Wallet charges no fees to download cryptos, and supports a portfolio dashboard, and staking options. However, this wallet does lack top-notch security features such as cold storage. It could be a top option for those valuing compatibility with multiple device types, and access to your private keys.

When the network is overloaded and lots of transactions are queued to get completed, some people will be willing to offer higher fees to make their transactions more appealing to miners and thus speed up the confirmation process.

Both international and local regulations require Atomic Wallet to implement effective internal procedures and mechanisms to prevent money laundering, terrorist financing, drug and human trafficking, proliferation of weapons of mass destruction, corruption and bribery and to take action in case of any form of suspicious ...

Does Atomic Wallet automatically deduct taxes? No, as of 2024, Atomic Wallet does not automatically deduct taxes from crypto trades. However, Atomic Wallet might still report your crypto transactions to your country's tax authority, like the IRS or HMRC.