Atomic Wallet (atomicwallet.io) is a bombshell crypto wallet with serious security issues. The platform has been seen by most as a high-security risk platform. There are hundreds of issues when it comes to service delivery. Getting immediate help from support is something you should forget. Another area the platform needs to improve on is its account security. Members can see their balance disappear and reappear. Here’s our full ATOMIC WALLET REVIEW.
On the about us page, the platform does engage users on what the wallet is all about. Atomic Wallet is also a Crypto exchange platform. So it doubles up as a Crypto exchange and wallet service provider.
There are over 500 crypto assets available with an anonymous exchange. Furthermore, you can exchange more than 60 crypto assets with cashback rewards. In addition, there are over ten POS assets, with investors getting a promise of weekly, monthly, and yearly profits.
When it comes to FIAT currencies, the platform avails over eighteen of them. These include leading currencies such as EURO, GBR, and the USD. In addition, you can buy any crypto asset with your bank card on the platform.
From what the platform claims, there are over 24 employees. And this means that half of them are on the support team. We will get back to this later, as it’s one of the biggest hurdles you will face as a member.
If you are looking to profit from Crypto investments, we suggest you go for innovative platforms. Go for platforms that guarantee security for your funds. We recommend using creative avenues such as Coin staking, DeFi, and Masternoding.
When it comes to the numbers, the platform promises 23 percent in yearly returns. These are returns from staking their AWC Tokens. From the market, their AWC token is not doing well and has seen some major losses.
There are 13 staking assets, with the platform claiming to own over 13 nodes. The platform also claims there are over 200,000 AWC holders. From what we can see, the number is less than that, way less than the 200,000.
Atomic Wallet is exposing your Mnemonic key to anyone with access to their platform. Despite attempts to change this, the platform still fails to have ample authentication procedures. Yes, your wallet is at risk from hackers and online scam artists.
Hundreds of investors have lost their funds on the platform due to this flaw. The platform does nothing to ensure the safety of investors. And we believe this is the base of operations for most scam artists.
You will receive a call from these scam artists requiring you to open an account with Atomic Wallet. During the account opening procedure, the scam artists will insist on recording the process. And this is how the Mnemonic key is exposed.
Instead of the platform offering email and phone authentication steps, there’s none. And this is the reason why it’s a breeding ground for scam artists. There are several issues we found with this wallet provider that we must share.
If your coins start to rise, the platform without warning adjusts your fees. In most cases, it’s over 20 percent for each act. And this makes it nearly impossible to invest or withdraw funds from the platform.
Despite claiming that the platform adjusts to current market prices, it’s not the case. We even tried staking and the platform would adjust prices after the coins rose sharply. We believe the platform doesn’t want investors to profit from staking on the platform.
Your funds are not safe with the wallet. With the platform being free of charge, it has attracted some scary parties. And it seems Atomic Wallet is a party to these fraudulent schemes. We have reason to believe the platform fails to protect investors.
It’s their obligation to ensure transactions run securely. But, unfortunately, one of its biggest flaws is its Mnemonic key structure. Did you know that the platform doesn’t hide your Mnemonic key? It’s a huge issue that leads to most members losing funds.
One crypto investor lost over 20,000USDT after his wallet’s Mnemonic key was exposed. The investor tried to contact support for help which is another issue. You have to have an invitation to talk to an agent.
It seems hackers and scammers are creating several wallets on this platform to defraud investors. Atomicwallet.io sends funds to these wallets after the platform receives the Mnemonic key from these individuals. As a result, there’s a complete breach of security when it comes to safety.
Once you lose your fund, the platform ought to block the receiver's account. There should be a client resolution process. Instead, the victim won’t even receive any feedback from the platform. Several investors have lost funds due to this security flaw.
From the about us page, we can see the platform claims to have started in 2017. In 2018, the platform released its desktop app and BTC-LTC Atomic Swap. It seems that this is the year the platform decided to get going.
Within the same period, the platform claims to have had over 50,000 downloads. Additionally, it’s the same year that the platform created its Android app and had its platform listed on IDEX Listings. By 2019, the platform claims to have over 150,000 downloads.
It’s during the 2019 period that the cashback program started and staking of over 8 assets. The very same year, the platform was listed on Binance DEX Listing. By 2020, the platform claims to have over half a million downloads.
Members would now get crypto loans and an all-access trading desk. In 2021, the platform launched a new staking dashboard with offline push notifications. There were plans to relaunch the platform in 2021.
If it happens that your coins pump, the platform automatically blocks access to these coins. What the platform actually does is use your coins to profit from the pump. You won’t have access to the pumped coins for at least two days.
That way, the platform makes a profit from your coins without your knowledge. And this means you won’t profit from the same. It’s disgusting what the platform does to members. There’s no excuse for it.
What you get from support is that there was an issue with DOT balances and sending. Hundreds of clients have faced this issue for the past few months. A genuine platform would have fixed the issue and ensured the problem doesn’t reoccur.
And this is another flaw we have seen with the platform. Your actual Crypto balance or quantity is sometimes at risk. You can sign in and get your crypto balance not the same as you left it. And this poses a huge challenge to members.
At times, the platform claims it’s a bug issue, which it seems is hard to fix for them. For the past few months, the same bug issue has been persisting for months. Imagine having your balance at zero and yet, Blockchain proves you have crypto assets in that account.
Incorrect balance and staking is another reason you should stay away from Atomic Wallet. Ana Azizkhani claims she saw her crypto balance changing in front of her eyes. The platform won’t allow her to unstake and even claim rewards.
On the homepage, the platform lists three people as the owners. And yes, the people listed do actually own the platform. But, unfortunately, when it comes to actually running it, the three are doing a terrible job. Hundreds of complaints have been listed, with no one coming to rescue them.
Konstantin Gladych, Charlie Shrem, and Simon Dixon own a part of the platform. It seems after creating the platform, they all went their separate ways. You would expect the platform’s owners to do better when it comes to improving the platform.
Another huge problem with the platform is the lack of hardware wallet support. Members should have the option of having hardware wallets. With hardware wallets providing better security measures, it makes sense to have one.
You cannot exchange certain crypto assets with the platform. And this also means storing these available cryptos is a problem. The wallet will lose your funds and claim it’s a technical hitch. So it’s best to look for alternatives.
Atomic Wallet is notorious for failing to help investors with any support structure. When you land on TrustPilot, you get to see the various errors the platform has. The reason members turn to TrustPilot is the lack of direct support access.
You can’t talk to support directly. Instead, what looks like a chat tab directs you to a message form. You also have to be a member to contact support. So when it comes to Telegram, the platform has actually to invite you.
There are no phone numbers listed on the platform. And this makes it a high-security risk platform. The platform seems to control the communication process. Atomicwallet.io will only contact you when they feel comfortable doing so.
It won’t come as much of a surprise that the platform will not show your Cosmos transactions. Several users have been complaining of this problem. The platform DOESN’T SEEM BOTHERED to help investors.
Once you send funds, it’s validated on the Blockchain network. However, the amount won’t show up in their wallet. And we believe the platform is openly deleting these transactions on their servers and wallets.
When you ask for support for help, you get the same reply, THERE HAS BEEN A BUG ISSUE. The bug issue is the statement a platform uses when they know there’s a glitch in their network. There’s no compensation and the platform will act as nothing happened.
We have also seen claims from investors who openly insist the costs are high. The platform even makes it hard to send Crypto to external wallets. It seems the only possible way of sending funds is via the platform only.
It’s a monopoly that we can’t and shouldn’t be tolerated. The platform ought to be more transparent and avail fast transactions. These are some of the reasons that make investors shun the wallet provider.
Atomic Wallet provides four membership status accounts. Each of the accounts comes with a different set of conditions. The four accounts include Blue, Silver, Gold, and Platinum. On the membership page, the platform changes tune and claims there are 40,000 AWC token holders.
For the Blue membership holder, you must have 100 AWC tokens and expect 0.25 percent cashback as a reward. Silver membership holders must have 300 AWC and expect a 0.5 percent cashback reward.
Gold account holders must have 600 AWC tokens and expect 0.75 percent in cashback rewards. The platinum membership is the most exclusive of the four. You must have over 1,000 Tokens to receive a 1 percent cashback incentive.
Although the platform claims there’s guaranteed yearly staking earnings of 23 percent, it’s not the case. Members have been having issues with the platform due to the staking process. It’s hard actually to stake coins with the platform.
According to one user, staking with the platform is expensive. You can’t see the total amount of your funds in USD or USDT. It makes no sense to put your trust in a platform that disregards your safety.
After checking out the complaints from several members, it’s best to stay away from the platform. Your funds are far from safe with the wallet.
Here are the main cons why you should stay away from Atomic Wallet
Now you know the risks that come with Atomic Wallet.
For those looking for credible and safer ways to invest in Crypto, look no further. Join proven entities such as coin staking and Masternoding strategies. It’s the best way to invest in Crypto.
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