Review on Atomic Swap Wallet by francis fernandez
Atomic Exchange Portfolio
Currently, there is a large number of wallets in the crypto industry. The Atomic Wallet has the advantage over other virtual wallets, that the technology of its smart contracts can carry out exchanges without the need for intermediaries, that is, autonomously. Hence its fame as a third-generation portfolio platform; Although for now it is only possible to carry out exchanges with three cryptocurrencies (Bitcoin, Litcoin and Qtum). This platform also has a wide capacity to manage different cryptocurrencies, around 300 currently; it also allows adding and customizing ERC20 tokens.
Users who wish to download Atomic Wallet must do so directly through the official website to obtain the installation links; and thus avoid the risks of fraudulent applications.
This virtual wallet works in a simple way. The first thing is to download and open the application, then create or import a portfolio; assign a password that will only be used to enter the application. This password automatically generates the backup seed. Finally, to start using the wallet, we must select Star Using Atomic.
The other functions of the Atomic Wallet include managing the other cryptocurrencies, sending and receiving funds, and conducting atomic exchanges.
The process of sending funds requires: name, amount (in cryptocurrency and in FIAT), public address and pressing the send arrow. To receive we need to copy the public address and enter: amount, address and password.
The procedure for atomic exchanges is based on the premise of peer to peer (person to person) exchange; which is carried out using decentralized markets where exchange orders are intertwined without the intervention of intermediaries.
Pros
- It is considered a multiplatform wallet, because it has applications in the most relevant operating systems, such as: Linux, Macos, Windows, Android and IOS.
- Its infrastructure is managed under the concept of open source; which makes it a fully auditable platform.
- Allows you to restore or recover wallets through the procedure of a recovery seed or Restore from backup.
Cons
- Its ability to carry out exchanges is subject to only three crypto assets: Bitcoin, Litcoin and Qtum.
- The backup seed that is generated automatically when creating the password only includes 12 English words. This represents a limitation in case they suffer fraudulent attacks. It is recommended not to save the seed on a device or computer
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Comments (1)
August 30, 2020
Atomic wallet and smart contracts? What is a virtual wallet? How is Atomic a portfolio platform? Atomic uses a third party Exchange service that can exchange over 20 coins. Atomic does not require a name to send funds.
