If you’ve followed my blog for some time now you’ll know I’m always willing to take on a risk or two in the cryptocurrency space and I’m always on the search for yield and my journey has lead me to Atomic Wallet staking. I first downloaded Atomic Wallet on my mobile because I wanted to enter a free Zilliqa giveaway on Twitter and then started to dive deeper into the features of the wallet.
What is Atomic Wallet
Atomic Wallet is a mobile and desktop hot wallet that allow you to store, stake, exchange and even buy cryptocurrency directly in the app. It’s one of the easiest wallets I’ve used thus far. It is also a non-custodial wallet, which allows you to own the private keys and restore your wallet on any device as long as you have your keys which is a bonus for me.
I always prefer non-custodial services in crypto and want to have ownership of my tokens as far as possible. Hot wallets are by no means full proof your device can still be hacked but they are far better than custodial wallets.
Atomic Wallet staking
The atomic wallet has its own staking option within the wallet that allows you to move your tokens into a staking node without moving it from your wallet, which makes it so easy to stake. It’s by far the easiest staking tool I’ve used thus far, all you do is select staking, select the token you want to stake and how much you want to stake and click stake.
The wallet will give you details on how much your return will be and when your payments are due, it also has a history panel to help you keep track of all transactions, which to me is super helpful.
The atomic wallet allows you to stake several coins, I’m personally tasking Tezos with the app, but that’s a story for another post. What caught my eye when staking was the HUGE premium they are giving on staking up to 23% APR on its token. Their token currently trades at a price of $0.32 according to @coingecko down from its all-time high of $0.363884 which was 4 months ago.
How to get AWC
Atomic Wallet Coin or AWC is the native token for the wallet and is an ERC-20 token. AWC is hard to get and is only available on 3 exchanges at the moment, namely:
Exchange — Trading Pair - Volume
Binance DEX — AWC986/BNB — 98.63%
Idex — AWC/ETH — 20.04%
Hoo.com — AWC/USDT — 1.94%
Pros of investing in AWC
You don’t only have to buy AWC you can also earn it:
- You can earn 5 tokens for every referral you bring in
- You can earn 10 coins for signing up
- You can earn 1% of any trade you make in the app back in AWC
AWC Staking in the wallet
The HUGE interest on AWC currently stands at:
- 10–999 — Gets 17% return
- 1000–9999 — Gets 20% return
- Over 10 000 — Gets a 23% return
Rewards are paid out weekly so you also compound your stake over time. You will need to stake a minimum of 10 tokens to get started, which you would get for depositing $10 in any crypto so you don’t really lose even at the minimum.
Cons of investing in AWC
The first thing that annoyed me is that you cannot buy AWC in their app or even swap other cryptos in their app for their native coin, perhaps it’s coming but for now it’s annoying.
The liquidity is extremely low, there isn’t much volume going on on the 3 exchanges so getting in might see some slippage and if you ever want to get out, expect to have a tough time of it. We don’t know the market cap f the coin yet and the supply is unknown as yet.
The current staking can only be done via the Binance chain with the minimum amount for staking set ot 100 AWC on the Binance chain (BEP-2).
You can purchase it on Binance DEX exchange. Also, users can receive AWC tokens by participating in airdrop, affiliate and bounty campaigns. In case, you have ERC-20 AWC as I did, you can do a swap them for BEP-2 AWC using a tool provided by ChangeNOW. You can only swap 50 AWC or more or you will lose ALL your tokens so beware.
Did that bother me? Yes, did I still want to take the risk, hell yes!
How I got AWC
- I had to send ETH to Metamask
- Then create an IDEX account
- I traded ETH for AWC
- Then sent the AWC to my wallet
It might sound easy but it was a mission that % return was all that helped push me through the process
How Atomic Wallet makes money
Like any wallet atomic wallet earns on transactions inside the wallet, if you’re trading different alts inside the wallet, they are taking a fee, they also earn when you buy directly through their app and since they also have a node for staking I assume they also getting a slice there.
The fact that they have these streams of income also gives me confidence that they can back up their native currency with cash flow from fiat and other cryptos flowing in and out of their ecosystem.
How to get started with Atomic Wallet
You can get 10 FREE AWC + 5 more when you use this referral link and deposit at least $10 into the wallet of any of the supported cryptocurrencies.
Atomic Wallet has a solid product which is why I have a bit of confidence in my investment here. I assume this still a well-kept secret in the crypto space and as the supply gets gobbled up the interest rates will come down over time, so I’ll get in now while it’s good and hard to get and see how it goes.
About the Author
Che Kohler is the co-founder of nichemarket, a South African Business Directory and digital marketing agency. He is an avid blogger who specialises in writing about marketing tech and cryptocurrency.
Originally posted on HIVE