AtomicDEX Wallet - Non-custodial Wallet, Crypto Bridge, and DEX

AtomicDEX is a virtual currency wallet and decentralized exchange (DEX) rolled into an app accessible on smartphones, desktops, and the web. It permits users to receive, transact, and trade several crypto coins like Ethereum (ETH), Bitcoin (BTC), ERC-20, BNB, and BEP-20 tokens. The wallet users don't have to download the entire blockchain. One of the best features of this AtomicDEX Wallet is the use of a 24-word secret recovery phrase that users must keep secure, as they can't recover their funds in the case of a forgotten password. 

AtomicDEX is an important ecosystem product created with an open-source framework Komodo AtomicDEX API compatible with all the leading digital currencies. GleecDEX and DogeDEX are other examples of products that utilize Komodo AtomicDEX API.

Features of AtomicDEX Wallet 

AtomicDEX Wallet has many distinctive features that differentiate it from other DEX (decentralized exchange). This section aggregates some of the cool features. 

Multi-Asset Wallet 

The Wallet allows users to store assets from various blockchains in ETH, BTC, AtomicDEX, all BEP-20 tokens, all ERC-20 tokens, BSC, and more. 

Liquidity Pool Multiplier

The Liquidity Pool Multiplier feature lets users personalize their trading experience depending on their cryptocurrency portfolio goals. The feature allows users to use one asset to initiate limit orders against the desired number of trading pairs at the desired cost levels.  

Atomic Swap 

Unlike many DEXs which work on AMMs (automated market makers), AtomicDEX gets support from atomic swaps. This solution provides the safest and best peer-to-peer method to trade virtual assets.  

InstaList Feature 

The InstaList option lets users list the ERC-20 tokens as a custom crypto asset by providing the smart contract address. The exact feature is accessible for QRC-20 tokens and BEP-20 tokens.  

Unlimited Markets 

Users have finished over 300,000 atomic exchanges. AtomicDEX has over 10,000 counting and trading pairs. To trade P2P, users don't need the base currencies. 

Non-custodial 

AtomicDEX Wallet is a non-custodial virtual wallet that believes in financial freedom and self-sovereignty. Only users have full access to their Wallet's secret recovery phrase and private keys.

How to Set Up AtomicDEX Wallet 

Setting up a new wallet is quite simple. In this section, we have covered the necessary steps to generate a wallet correctly. 

First: Hit the Create Wallet button 

• After downloading the AtomicDEX Wallet app, you should launch it and tap on the Create Wallet tab on the home screen.  

• Next, give a name to your Wallet and hit the Let's get set up button. 

Second: Secure Recovery Phrase 

• Then, a 24-word secret seed phrase will appear on your screen, which you must store securely. Remember the phrase is necessary to restore the Wallet if you forget the login password. 

Third: Verify the Seed Phrase 

• To ensure you have secured the seed phrase correctly, you must provide the words randomly and hit the Next tab. 

Fourth: Generate a Password

• After verifying the phrase, develop a strong password for your Wallet. The password should contain 12 characters, special characters, lowercase, and uppercase.   

Fifth: Accept the Terms and Conditions 

• After securing the password, you must accept the conditions and tick the box at the bottom. 

• Then, press the Next button. 

Sixth: Generate a PIN 

• Next, you should generate a pin code, which is important for future actions. The pin should consist of six digits. 

• To access the Wallet, you must specify the PIN for safety reasons. 

• That's all; your Wallet is now ready to use.

How to Use the AtomicDEX Wallet? 

Using AtomicDEX Wallet is easy and developed for both professionals and beginners. 

• The foremost step before making any change is to perform a transaction. After funding your Wallet, move to DEX. 

• Then, tap on Select Coin to pick the desired asset. You should provide the desired amount on the right-hand side or hit the MAX tab to swap all the assets. 

• Next, pick the currency for which you wish to make the exchange. If it allows you to change to Bitcoin, ensure to activate the crypto asset you wish to swap in the portfolio. 

• If the currency you need to buy has the message tap to generate an order, there is zero active sale order, but you can initiate a purchase order and expect others to sell that asset. 

• After this, hit the Trade tab to begin the procedure.

AtomicDEX Wallet Fees 

Trading fees are essential, and something you cannot stress is that you should ascertain the crypto trading costs of the Wallet or platform you wish to use. Each trade occurs between parties: the maker, whose order is available on the order book to trade, and the taker, who puts an order that takes the maker's order. By matching the makers' orders with their own, the Makers generate liquidity in the market, and takers eliminate this liquidity. 

The international industry average taker cost is about 0.25 percent of the value of the order. Several new exchanges now take 0.15 percent or 0.10 percent instead. 

AtomicDEX Wallet doesn't charge trading fees for market makers. However, it levies a 0.13 percent fee for takers. Takers who utilize KMD (Komodo)should pay a trading cost of 0.117 percent. 

DEX platforms don't take withdrawal fees, although each takes the network cost, which the company pays to a related blockchain validator. AtomicDEX users must pay blockchain network costs while trading as with a DEX.

Conclusion

AtomicDEX is an atomic swap DEX and non-custodial multi-asset Wallet. Users can keep their assets in their wallets and initiate cross-chain swaps while managing private or BTC private keys for other virtual currencies. If you wish to know more, go through the above comprehensive guide.