Opinions on Atomic Wallet?

TreasureHunter

TreasureHunter

Well-Known Member
Hi,

I came across this video about Atomic Wallet - claims to be a password protected "secured" wallet for multiple cryptos.

Good or bad? Scam or real? What are your opinions, has anyone ever used it?

Would you move your coins into one of these wallets?

 
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I don’t know about this particular software wallet, but it’s likely to be legit. You would be better at purchasing an actual hardware wallet if you were holding your crypto long term, it’s much more secure.
 
AussieHODLer said:
I don’t know about this particular software wallet, but it’s likely to be legit. You would be better at purchasing an actual hardware wallet if you were holding your crypto long term, it’s much more secure.
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I think hardware can also break (just like USB pen drives and external hard drives).

Atomic Wallet looks nice and they claim it's free and without KYC, but I'm not sure if it breaks down or, if it keeps stealing crypto (sending them to the developers :)))))
 
TreasureHunter said:
I think hardware can also break (just like USB pen drives and external hard drives).

Atomic Wallet looks nice and they claim it's free and without KYC, but I'm not sure if it breaks down or, if it keeps stealing crypto (sending them to the developers :)))))
Click to expand...

You can just buy another hardware wallet if you lose it or it fails as long as you have the paraphase words that you got when you setup the hardware device you will be able to access your crypto again.

Best to buy two and keep one as a spare just in case.
 
TreasureHunter said:
I think hardware can also break (just like USB pen drives and external hard drives).

Atomic Wallet looks nice and they claim it's free and without KYC, but I'm not sure if it breaks down or, if it keeps stealing crypto (sending them to the developers :)))))[/QUOTE
Click to expand...
Hardware wallets just hold a set of ‘keys’ to enable you to access your crypto on its blockchain. The seed phrase/paraphrase is the most important piece, as this is essentially the ‘master key’. It allows you to access your crypto again if a device was ever to break down, or to access your crypto on a different device. You can never share this paraphrase with anyone, even if they seem legitimate. A lot of scammers will try to get you to give them this info.
Hope this helps. Try googling private keys, public keys and seed phrase, if you need a better explanation than I’m able to give.
I would also highly recommend a hardware wallet for storing your crypto.
 
OZZIE_STACKER said:
You can just buy another hardware wallet if you lose it or it fails as long as you have the paraphase words that you got when you setup the hardware device you will be able to access your crypto again.

Best to buy two and keep one as a spare just in case.
Click to expand...

But the wallet.dat file could still be kept on another source as well, from what I understand. (I am still new, learning about how these things work).

So, which are the best hardware wallets that you would recommend (I have seen hundreds on eBay, but who can tell...).
 
TreasureHunter said:
But the wallet.dat file could still be kept on another source as well, from what I understand. (I am still new, learning about how these things work).

So, which are the best hardware wallets that you would recommend (I have seen hundreds on eBay, but who can tell...).
Click to expand...

I have been using Ledger nano for the last few years. Only buy direct from the official website, lots of scammers on ebay etc.

https://shop.ledger.com/pages/ledger-nano-x

https://shop.ledger.com/products/ledger-nano-s
 
Questions: if someone moves their (desktop) Core wallet-held crypto to a Ledger Nano hardware wallet, then:
- does that mean that the hardware wallet is a totally new wallet (new address), separate from the desktop wallets? (meaning that after you move your crypto to a hardware wallet, then
even if your desktop wallet gets stolen, the cryptos will be completely safe/separate on the hardware wallet)?
- is the Ledger hardware wallet still based on the "good-old" wallet.dat file that you "move around"? :D I mean, does the Ledger hardware wallet also use a file like this or, does it have a different system
for storing coins?
- how do you make sure you don't lose the contents of your hardware wallet? (buy multiple hardware wallets or create duplicate backups... where?)

Just a few naive questions from someone still learning about how things work out there :D

thanks in advance for responding
 
Yes. No. Keep your backup phrase safe.

wallet.dat is the old way of crypto wallets where a new key pair is generated and stored in a file. You need to keep the file safe.

Then came HD wallets where all the key pairs are generated from the 12 or 24 word phrase. This can be backed up on a piece of paper, stamped into a piece of silver, kept in a safe, or memorised by heart. Make as many copies as you like, but remember, if someone gets this phrase, they have your crypto.

Hardware wallets are an iteration on HD wallets. If your wallet gets stolen/lost/broke, you can just buy a new one and restore from your backup phrase. You can also restore to certain software wallets (so you are still safe in case the original wallet manufacturer goes bust).
 
atomic wallet is fine, it uses encrypted private keys on your device and has good reviews.
 
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