Atomic Wallet does not provide any virtual asset services or any financial services, nor does provide any advisory, mediation, brokerage or agent services. Virtual asset services are provided to Atomic Wallet’ customers by third party service providers, which activities and services are beyond Atomic’ control. We urge all Atomic Wallet’ customers to familiarize themselves with the terms and conditions of third-party virtual asset service providers before engagement into a business relationship.
We also note that Atomic Wallet is not the creator of and does not have any control over any of the virtual currencies that the Atomic Desktop and Mobile Wallet Applications allow Atomic Wallet’ customers to use. Atomic Wallet’ customers balance and actual transaction history are supported by each cryptocurrency blockchain explorer. Atomic Wallet does not collect or store any private keys, backup phrases or passwords. Further, Atomic Wallet does not hold, collect, or transfer any assets from or to its customers wallets in any form.
Does Atomic Wallet automatically deduct taxes? No, as of 2024, Atomic Wallet does not automatically deduct taxes from crypto trades. However, Atomic Wallet might still report your crypto transactions to your country's tax authority, like the IRS or HMRC.
Is Atomic Wallet safe to use? Atomic Wallet provides solid security features, and it doesn't store any user passwords, data, or seed phrases on its servers. All that information is stored on your device where you've installed Atomic Wallet.
Atomic Wallet is a cold wallet type, all passwords and data are stored on the user's device and it is not kept at any server, so there is no custody risks or the possibility of losing funds through centralized services. The main risk in Atomic Wallet is if you lose your backup phrase or send it to another person.
Atomic wallet is a non-custodial software wallet. This means that your private keys are generated and never leave your local device. Your funds are safe on the blockchain, and as a software development company, Atomic has no access to your funds.
On June 2, 2023, Atomic Wallet, a popular multi-currency wallet, fell victim to a sophisticated cyberattack. The hackers managed to exploit a vulnerability within the wallet's infrastructure, gaining unauthorized access to private keys and siphoning off user funds.
If you want to withdraw money from this wallet to a fiat currency, like US dollars, Euros, or Pounds, you'll have to first transfer your crypto to Zengo (or another wallet or exchange that supports a fiat offramp gateway). You can then withdraw directly from Zengo to your bank account in fiat currency.
Since Atomic Wallet is just an intermediary between you and the blockchain, your coins aren't stored by us. You're free to export your private keys anytime, and your funds wouldn't be put at any risk if our company was to close down.
Withdrawing directly to a bank involves converting your cryptocurrency into fiat currency. While Atomic Wallet does not support direct fiat withdrawals, you can transfer your crypto to an external exchange that offers this service.
Make sure you're using the latest version of our app. We're constantly working on improving the app's performance, so it's important to keep your Atomic Wallet up to date. Check your system's version. Are there any updates available for your operating system you might have previously put off?
So where are your funds stored? It is important to understand how Atomic Wallet and blockchain work. It may look like your funds are stored in Atomic Wallet itself, while, in fact, they are not. To be accurate, your funds are stored on the blockchain.
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