Atomic Wallet exchange and security

Good day ladies and gentlemen, Today I want to look at some of the major features of the atomic wallet (Exchange) Atomic Wallet features

ShapeShift

Changelly

Atomic swaps

Like I said in my earlier post that with Atomic swap you don't have to transfer you coins to external exchanges every single trade is done right within atomic wallet, Trades are performed between cryptos from the same wallet or peer-to-peer, trading can also lead to varying fees which are determined by the selected options. There are three methods through which users can effectuate a trade, but their availability depends on the coins selected for the trading process:

– ShapeShift

The wallet enables users to access the ShapeShift exchange order book so that they can directly trade at normal rates. Fees that are incurred by ShapeShift use will vary depending on the coin.

– Changelly

In addition to the features and fees offered by ShapeShift, the Changelly exchange has a wider selection of coins.

– Atomic swaps

The only atomic swaps which can be carried out by Atomic Wallet are between BTC, LTC, and QTUM. Atomic swap fees vary, but they are kept low, the coins being traded at the market’s main rates. CoinMarketCap data is used by the wallet to generate its rates.

Atomic Wallet security

Atomic Wallet has its code open sourced, which greatly lowers the risk of having bugs or hidden weaknesses sneaking into the software.

However, there is a risk during the installation process of the wallet, if for example, it is installed on an infected computer or one that has an unsecure Wi-Fi connection. Internet connections can always become a risk as they are the main route through which malware spreads to your devices.

By pairing your Atomic Wallet with a hardware wallet you can effectively reduce the risk of such malware attack. But for the time being, hardware wallet support has not yet been released, but it’s currently in development.

It is also of utmost importance that you safely store your back-up phrase. This string of words is generated when you create your wallet account and it has the role of serving as a secondary password. As they also grant access to your Atomic Wallet funds, you must keep them private just like your keys.

Verdict

Atomic Wallet is a very versatile wallet with a plethora of useful features, including atomic swaps, in-wallet, and peer-to-peer trading which are of great use to traders of all levels of experience.

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