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Lyle Daly is a personal finance writer who specializes in credit cards, travel rewards programs, and banking. He writes for The Ascent and The Motley Fool, and his work has appeared in USA Today and Yahoo! Finance. He was born in California but currently lives as a digital nomad with a home base in Colombia.
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.
Atomic Wallet
Blockchain Support
Multichain wallet that can store over 500 cryptocurrencies
Compatability
Android, iOS, Windows, MacOS, Ubuntu, Debian, Fedora
Storage Type
Cold
Price
Free
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.
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Robinhood
Limitations Apply |
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| Rating |
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
| Commissions |
Variable fees (Coinbase), 0%-0.60% (Coinbase Advanced Trade), $29.99 monthly (Coinbase One)
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$0 for stocks, ETFs, options, and cryptocurrencies
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| Next Steps |
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.
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.
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?
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.
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.
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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.
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.
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.
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 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 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.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
Robinhood disclosure
This advertisement contains information and materials provided by Robinhood Financial LLC and its affiliates (“Robinhood”) and Publisher, a third party not affiliated with Robinhood. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Securities offered through Robinhood Financial LLC and Robinhood Securities LLC, which are members of FINRA and SIPC. Publisher is not a member of FINRA or SIPC.
Robinhood Crypto disclosure
This advertisement contains information and materials provided by Robinhood Financial LLC, Robinhood Securities LLC and its affiliates (“Robinhood”) and Publisher, a third party not affiliated with Robinhood. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Securities offered through Robinhood Financial LLC, a member of FINRA and SIPC and a wholly-owned subsidiary of Robinhood Markets, Inc. Cryptocurrency trading offered through Robinhood Crypto LLC. Robinhood Crypto and Publisher are not a members of FINRA or SIPC and cryptocurrencies are not stocks and your cryptocurrency investments are not protected by either FDIC or SIPC insurance.
