Atomic Wallet : Security

kolo92042 (25)in #atomic • 5 years ago

What is Cryptocurrency Wallet?
Cryptocurrency wallet is an application that stores private keys and public addresses and used to manage (store, send or receive) cryptocurrency. In some cases, a cryptocurrency wallet handles only one coin, but it becomes inconvenient when you need to manage many coins and tokens (you will have to install a several applications, store several passwords and keys on your device). That’s why having mono-currency wallets is not the best option.

Several cryptocurrency wallets provide the ability to manage different assets in one place. In most cases, such wallets encrypt your private keys on a device, whether it’s a cold USB-wallet (like Trezor) or a light and at the same time secure wallet like Atomic. Atomic Wallet stores a user’s private keys on a device. Only you have access to your private keys at anytime. They always stored only on your side. It demands from you to keep your back-up phrase in a secure phrase and never send it to anybody.

How does Atomic Wallet generate Mnemonic Seed?
HD wallets uses 12-word seed phrase to generate an entire tree of key pairs. It’s almost impossible to hack it. Mnemonic is the “root” of the tree as it can be algorithmically converted into the all private keys used in the wallet.

That single key does not replace other private keys but is rather used to generate them. All your addresses still have different private keys, but they can be all restored by the one seed phrase.

Private password
The first stage of Atomic security is password. User create it by himself, the password is required to confirm transactions, to view the list of your private keys and it serves as the primary protection against unauthorized use of the wallet by another person.

But what if you’ve lost your password? Well, here comes the second security stage in the Atomic Wallet Security system — the 12-word Backup Phrase.

Randomly generated 12-word Backup Phrase will help you to restore access to your Atomic Wallet at any time. It is vital not to lose this phrase, store it in a secure and inaccessible to other people place. You can even write it down or print it on a sheet of paper.
This 12-word phrase is a cypher that contains information about private keys and addresses. Seed decipher all symbols for each coin. So with 1 seed you can gain access to all your funds.

Randomly generated 12-word Backup Phrase will help you to restore access to your Atomic Wallet at any time. It is vital not to lose this phrase, store it in a secure and inaccessible to other people place. You can even write it down or print it on a sheet of paper.

Exchange
Click on the "Exchange" tab in the left menu, there will be two tabs from above. Select "Exchange immediately", click on the Stock code of the coin and select the trading pair

Then click on the "Select service" tab to set up the shapeshift service. Set the amount (pay attention to the minimum cost and amount) and click the "Exchange" button ⇩

So in a word,

Atomic powers Swap Wallet trades, swaps, and connects you with network friends. More importantly, it allows you to trade without a third party, or to give up control of your card.

Atomic Wallet - Atomic Wallet will definitely create a new, radiant and exciting era for the financial and technology industry