The blockchain technology and cryptocurrency are making noise louder every day. There are more than 5000 cryptocurrencies available and many more are coming in near future. Due to the same wallet like, Coinbase is not sufficient if you are interested in multiple cryptocurrenies as they offer limited coin wallets while there are few multi cryptocurrencies wallet which offer a lot of features including exchange, buy, sell, atomic swap, 2FA and many more.
Once you decided to have a multicurrency wallet to store and manage your funds in a single wallet, the next question comes in the mind is which wallet should you use. There are many multi crypto wallets available in the market, for example, Atomic wallet and Trust wallet both are secure and trusted but there are few pros and cons associated with them. Let’s discuss about prominent features and comparison between these two wallets.
Founded in 2017, the Atomic wallet is the brainchild of Konstantin Gladych the CEO of Changelly. It is a mobile, desktop wallet and supports all the major operating systems like Windows, Fedora, Ubuntu, Debian, Mac, etc. and iOS and Android. You can download the wallet easily in your computer and all major keys and data are kept in encrypted form and nothing is shared in the server.
AWC (Atomic Wallet Coin) is the official coin of the wallet and supports all the major functions including atomic swaps.
What is Atomic Swap?
One of the prime features of this wallet is “atomic swap”, a reason why it has become immensely popular among the crypto users. An atomic swap is a complicated process through which you can swap and exchange cryptocurrencies. However, the atomic wallet has made the process simple and the feature is now accessible to all users.
If you want to avail of the service, you simply have to put a notice on the bulletin board. You can do that anonymously without disclosing your identity. The atomic swap feature picks up the notice and finds suitable currency pairs and swaps between them. The process is fully automated. The wallet allows you to write the notice and also choose suitable pairs for swapping.
Peer-to-Peer Trading in Atomic Wallet?
The Atomic wallet supports peer-to-peer (P2P) trading. First, you have to log in to your account through a password. Now the wallet will generate an address. The addresses are different for each crypto coin. You simply have to copy the address and send your crypto coins to that address. All crypto funds are stored securely in the cold storage of the wallet.
For payments, you have to choose the cryptocurrency and the amount you want to send. Then you have to add your destination address and password and click “Send” to complete the transaction.
Atomic Wallet Features:
* Simple interface with accessible features.
* Available for desktop as well as mobile platform.
* Users own complete control on their pvt keys.
* Allows users to buy cryptocurrencies with their bank cards.
* Atomic wallet supports staking for proof of stack coins.
* It is a multi-currency wallet and supports more than 300 cryptocurrencies including ERC20 tokens.
* All P2P transactions are done through a decentralized global orderbook.
* No registration is required. The wallet does not store your personal information.
* The wallet does not ask you to provide your private keys nor does it store them in its server. All private information is encrypted in the device or personal computer. The wallet is further secured by a 12-word seed phrase.
* The wallet supports credit cards. You can buy crypto coins by using credit cards. However, the transaction will be chargeable. Minimum charges of $10 or a commission of 7% will be levied.
* Atomic wallet is the first decentralized wallet offered the Membership program based on AWC (native token). All customers who are holding AWC-BEP2, will be rewarded for using a built-in exchange.
Security of funds in Atomic Wallet
It is an open-source wallet which is completely secure and all your passwords and private data is encrypted in the device. However, before installing, users are advised to check their devices for malware to prevent loss of funds.
Furthermore, the makers of the wallet are thinking of integrating the Atomic wallet with other hardware wallets to make it more secure.
Trust wallet is another popular multi crypto wallet which is also backed by Binance. It is a mobile wallet that supports both iOS and Android mobile phones. This simple open-source wallet is easy to use with a friendly interface. Like Atomic wallet, it is a safe wallet which supports multiple coins and token along with staking option for PoS coins. Trust wallet is also equipped with built-in exchange so that users can switch between cryptos with in the wallet itself.
Trade in Trust Wallet
To receive coins in your wallet, you need to log in to the wallet and click the “Receive” button. Scan the QR code and copy the address of the coin to be received. Your funds will get transferred to your wallet.
To make payments, you have to click on the “Send” button. Now copy and paste the address of the recipient and scan the QR code. Now select the amount you want to send and complete the transaction. You can click on to the “Transaction” button to view transaction history.
Trust Wallet Features
* The wallet supports multiple currencies including ETH, ERC20, ERC223, ERC-721 tokens, BEP2 Tokens.
* Simple interface.
* You can swap currencies through Binance DEX and Kyber Network protocol.
* Trust wallet app also has a Web3 browser so that user can interact with decentralized applications (DApps)
* Users can add a biometric authentication to the wallet, including PIN and fingerprint scanning.
* Trust wallet supports staking for proof of stack coins.
Security of funds in Trust Wallet
Trust wallet is completely safe and all your private keys are stored in your device. The wallet does not ask for your personal details and never stores your private data on the server.
The wallet has been recently reviewed by Stateful, one of the leading security experts which authenticate its security. While launching the wallet, you can also keep a backup of your wallet. This will help you to restore the wallet whenever you want.
Conclusion: Atomic Wallet Vs Trust Wallet – Who is the Winner
Trust wallet and Atomic wallet both are trusted and safe wallet to store your cryptocurrency as both are open source and let user control their private keys. In my opinion Atomic wallet is the winner, though Trust wallet is backed by Binance and also equipped with Web3 dapp bworser, Below are the significant area where Atomic wallet gains a plus:
1. Atomic wallet is available for Desktop and Mobile both platform while Trust wallet is a mobile only wallet.
2. Atomic Wallet allows user to buy cryptocurrency through their bank cards within the wallet itself.
3. Atomic wallet built-in exchange uses Atomic swap mechanism.
4. Support more coins and token.
5. It offers complete control of your wallet pvt key, users can get access to pvt key for each coin wallet.
6. Atomic Wallet token (AWC) is listed on Binance Dex and IDEX exchange.
I hope you enjoyed this article. What is your opinion on this and which wallet so you prefer. Feel free to share your thought with us in the comment section below.