Atomic Wallet | A Beginner’s Guide on the Non-Custodial Wallet

The goal of Atomic Wallet is to remove centralized intermediaries like regulated exchanges and give crypto owners total control of their finances.  Users are not required to make an account, go through a verification process, or go through KYC regulations. Funds also cannot be blocked by a third party.

Instead, Atomic Wallet offers a single, secure interface for users to manage, exchange, stake, and buy crypto assets across blockchains without any intervention.

The following Atomic Wallet guide explores how crypto wallets work, how to set up your Atomic Wallet, its pros, cons, the AWC token, and the founding team.

What Are Crypto Wallets?

A cryptocurrency wallet is software used to store public and private keys. It interacts with blockchains to let users send and receive digital currency, and monitor their balance and stake tokens.

Unlike a traditional wallet, digital wallets don’t actually store your currency. Instead, they keep a record of transactions and your currency is stored on the blockchain.

For a crypto wallet to “hold” cryptocurrency, the private key in your wallet needs to match the public address to which the cryptocurrency is assigned. When the keys match, this will show as a balance in your wallet.

If you want to send cryptocurrency, you sign off ownership of the coins and they will then match the wallet address you sent them to. Technically, there’s no exchange of actual coins but a transaction record on the blockchain that changes your balance.

What Are The Types Of Cryptocurrency Wallets?

To best understand how Atomic Wallet works, let’s glance over how several different types of crypto wallets function:

• Paper wallets are simply keys written on a physical piece of paper- make sure you store it in a safe place! They offer a higher level of security compared to online wallets as your crypto is held offline, although it’s harder to actually use your crypto for trading, staking and other online activities.
• Online wallets are best known as the easiest way to get started in crypto. They provide good security through two-step verification, easy access to apps and software, and simple transaction methods. Sending crypto with an online wallet is as simple as transferring money through your online bank account. Great online wallets include Binance, Coinbase and Kraken.
• Hardware wallets provide the ideal balance between security and convenience. Designed as a thumb-drive device, they provide the security benefits of paper wallets (being offline) and the usability of online wallets as they can be used to transfer crypto to others on the internet. The most popular hardware wallets are Trezor and Ledger.
• Software wallets are generally software applications that allow for the non-custodial storage of assets, meaning you maintain control over your cryptocurrency at all times.