Atomic Wallet Exchange Fees | Complete Review From Experts

By
June 28, 2023

Understanding digital asset management is crucial in today’s financial landscape. Traders Union recently performed an exhaustive review of one such platform – Atomic Wallet. It is a decentralized, secure, and user-friendly cryptocurrency wallet supporting over 300 different coins and tokens.

Specifically, TU delved into the details of Atomic Wallet exchange fees, a critical component for users to consider. The review aims to provide valuable insights to traders, helping them optimize their cryptocurrency investments.

What is Atomic Wallet?

TU experts appreciate Atomic Wallet’s design as a non-custodial, cross-platform solution for cryptocurrency management. Key insights include:

  • Cross-platform: Atomic Wallet offers both desktop and mobile applications, maximizing accessibility for users across different devices.
  • Independence: It is an autonomous wallet, unaffiliated with any specific cryptocurrency startup, providing a universal platform for diverse digital assets.
  • Origin: Established in 2018 by an Estonian team, Atomic Wallet is a product of expert European blockchain development.
  • Proprietary technology: Built on a proprietary blockchain and Atomic Swap protocol, it enables ultra-fast transactions, enhancing user experience.

How Atomic Wallet works

Traders Union acknowledges the versatile utility of Atomic Wallet, a hybrid wallet model. It combines the strengths of both cold wallets, typically used for long-term investing, and hot wallets, ideal for short-term speculative trading.

Here’s how Atomic Wallet functions:

  • Long-term investing: Atomic Wallet operates like a cold wallet when used for long-term investing. It allows users to purchase and securely hold various cryptocurrencies for prolonged periods. The wallet is autonomous from the internet and installed on the user’s local device, ensuring enhanced security.
  • Short-term trading: For speculative trading, Atomic Wallet acts akin to a cryptocurrency exchange. It enables swift buying and selling of digital assets with minimal fees, offering a wide array of trading options.
  • Hybrid nature: Unlike pure cold or hot wallets, Atomic Wallet mitigates their respective drawbacks such as high fees, low transaction speed, or risks of account blocking and hacking.
  • Profit from staking: An additional feature includes staking, enabling users to earn profits of up to 20% annually on long-term investments.

Are Atomic fees really free?

TU analysts clarify the fee structure of Atomic Wallet to help users understand whether it’s essentially a free platform or not:

  • Transaction fees: Atomic Wallet applies fees depending on the transaction type. For purchasing cryptocurrency, a 2% fee or a minimum of $10 is charged.
  • Dynamic fee structure: The fee may vary and is displayed in the wallet during the transaction. For instance, the buying fee for BTC may reach up to 5%.
  • Blockchain fees: Internal conversions involve blockchain fees. These are distributed among blockchain participants, namely miners.
  • Third-party involvement: Since Atomic Wallet works with third parties, users are encouraged to report if the actual fee exceeds the specified amount by 2.5%.

Top 5 alternatives to Atomic Wallet

Traders Union recognizes that users might seek alternatives to Atomic Wallet for diverse trading needs.

  • Exodus Wallet: A user-friendly, multi-currency wallet with desktop and mobile versions. Offers built-in exchange and portfolio tracking features.
  • Trust Wallet: Binance’s official crypto wallet supporting a vast array of tokens. Includes features like staking, decentralized exchange access, and NFT support.
  • Ledger Wallet: A hardware wallet that prioritizes security, Ledger supports a wide range of cryptocurrencies and offers integrations with various software wallets..
  • Coinbase Wallet: Independent from the Coinbase exchange, this wallet supports numerous cryptocurrencies, and NFTs, and provides access to decentralized applications (dApps).
  • MyEtherWallet: An open-source, client-side tool for securely storing Ethereum and ERC-20 tokens, that allows interaction with smart contracts.

It’s also important to note that MetaMask is another noteworthy alternative. One of the significant advantages of MetaMask is its seamless integration with Ethereum-based protocols, offering users a versatile platform for trading, investing, and exploring the decentralized finance (DeFi) space.

Conclusion

Traders Union’s comprehensive review and comparison of Atomic Wallet and its alternatives provide valuable insights for cryptocurrency enthusiasts. These platforms, each with its unique advantages, offer a range of options to suit diverse trading and investment needs. To stay informed and make the most of your digital asset management, remember to visit the Traders Union website for more detailed reviews and updates.