AtomicDEX is a non-custodial crypto wallet that operates as a decentralized digital currency trading portal. The application, AtomicDEX, is boosted by Komodo AtomicDEX API and asserts to provide the broadest cross-protocol trading support. In this article, we will have a look at the AtomicDEX review and how it operates.
What Is AtomicDEX?
It is a digital currency wallet and decentralized crypto exchange that is rolled into a single application available on mobile, desktop, and web. It enables the users to receive, send, and also trade various coins like BTC, ETH, and BNB, and many more. With AtomicDEX, there is no requirement to download the complete blockchain in the process.
One of the primary features of the AtomicDEX wallet is that it uses a 24-word seed phrase that is required to be kept safe or to be memorized by the user, as it is needed to recover funds during the time of forgotten password.
This decentralized exchange uses P2P order books that are powered by the atomic swap that allows the transfer of digital currency from one party to the other, without using any third party intermediary.
It is among the ecosystem products constructed with Komodo AtomicDEX API which is an open source structure that is easy with 99% of the digital currencies. DogeDEX and GleeceDEX are two added instances of products that use the Komodo AtomicDEX API.
Upcoming Features: Roadmap
The AtomicDEX app is still in the development phase and is ready to release new features. It is creating the latest functionalities which will enable users to purchase cryptos directly from the AtomicDEX wallet using a credit or debit card. This roadmap includes a native version of the AtomicDEX hardware wallet support, Lightning Network Integration, HD wallet support, and many more.
AtomicDEX Review: Supported Coins
Since this application is designed on the open source structure of Komodo AtomicDEX API, it is compatible with nearly 99% of the digital currencies. Some of the listed tokens and coins include Ethereum, Bitcoin, Litecoin, Dogecoin, Bitcoin Cash, Ravencoins, and Komodo. The most famous ERC-20 token and BEP-20 token are also supported by this application.
Even though this network is compatible with wrapped tokens, its native wallet helps in cross chain swaps and discards the requirement to trade via wrapped tokens. This application also enables the addition of the latest custom assets that are created on the Qtum protocol (QRC-20), Binance Token standard (BEP-20), and Ethereum protocol (ERC-20).
AtomicDEX Trading Fees
In this AtomicDEX review, let us now talk about the trading fees. TRading fees are generally very crucial and the one thing that we cannot stress much is that you must always determine the trading fees of any network you are interested in. Every trade happens between two parties: the taker, who places the order, and the maker whose order exists on the order book before the trade that matches with that of the taker. Makers create the liquidity in a market and the job of the taker is to eliminate the liquidity by matching the order of the maker with their own.
The industry average globally taker fee has for a long time been 0.25% of the order’s value. Presently, we see a shift towards an even lower industry average. Many latest exchanges now charge 0.15% or 0.10% instead.
As far as this platform is concerned, no trading fees are levied for market makers. However, it is charged a 0.13% fee for takers. For takers who avail of Komodo (KMD), the trading fee is only 0.117%.
The AtmicDEX platform is free to download and this is supported throughout numerous platforms like iOS, AtomicDEX Android version, Linux, macOS, along with CLI (Command Line Interface). The AtomicDEX download can take place from the Google PlayStore, AtomicDEX GitHub, and App Store.
AtomicDEX Review: Ease Of Use
The ease of use is among the important dimensions when selecting any digital currency related services. What is easy for beginners may not appeal to the experts in the crypto space. On the contrary, a complicated tool with analytics and charts designed for experts may not be convenient for the beginners.
We think the AtomicDEX app is fairly easy to use. Customers can navigate through varied modules seamlessly. Based on the data we received, the application can soon see the latest feature releases which would enable it to be much more convenient for anyone to use.
How Secure Is The AtomicDEX Platform?
Security of the assets is crucial when selecting a digital currency wallet, and this AtomicDEX review would fall short if we do not talk about how safe this wallet is for users. A prime factor that plays an important role in wallet security is the level of control a user has over his private keys. An application that offers full control to the users over their private keys is thought highly secure. Alternately, you will come across wallets on which the keys are kept by a third party. Some of these applications prevent unauthorized access by using encrypted passwords, which we think are moderately secure.
The Closing Lines
To draw a conclusion to the AtomicDEX review, this crypto wallet is among the best software wallet on the present digital currency storage platform market. The crypto wallet in question provides 24/7 live customer support, holds over 300 varied digital coins, it is easy to use, offers integrated crypto exchanges, and is quite safe. While the ‘atomic swap’ option is only available with a few chosen coins, most users of the wallet are not going to see this as a big problem. All things taken into account, Atomic is surely worth checking out, particularly if you are in the market for a brand new hot wallet.