does atomic wallet charge fees

Atomic Wallet operates with no fees for fundamental transactions, but network, exchange, withdrawal, and fiat on/off ramp fees may apply in specific situations.

Oct 31, 2024 at 08:49 am

Does Atomic Wallet Charge Fees?

Atomic Wallet is a non-custodial, decentralized cryptocurrency wallet that allows users to store, manage, and exchange various cryptocurrencies. The wallet operates on a decentralized network and does not hold user funds on its servers. Instead, users have complete control over their private keys and are responsible for securing their own funds.

When it comes to fees, Atomic Wallet generally does not charge any fees for basic wallet operations such as sending, receiving, or storing cryptocurrencies. However, certain fees may apply in specific circumstances:

1. Network Fees

Atomic Wallet does not charge network fees directly, but network fees are still incurred when sending or receiving transactions on the blockchain. These fees are not charged by Atomic Wallet but rather by the underlying cryptocurrency network. Network fees vary depending on the cryptocurrency and network congestion.

2. Exchange Fees

Atomic Wallet offers an integrated exchange feature that allows users to exchange different cryptocurrencies within the wallet. When using the exchange feature, a small exchange fee is charged to cover the cost of facilitating the trade. The exchange fee varies depending on the traded pair and market conditions.

3. Withdrawal Fees

Atomic Wallet charges withdrawal fees for certain cryptocurrencies when users transfer funds out of the wallet to external addresses. The withdrawal fee is generally a small flat fee set by Atomic Wallet to cover administrative costs.

4. Fiat On/Off Ramp Fees

Atomic Wallet has partnered with third-party fiat on-ramp and off-ramp services that allow users to buy and sell cryptocurrencies using fiat currencies. These services charge their own fees for these transactions, which are typically not covered by Atomic Wallet.

It's important to note that Atomic Wallet's fee structure is subject to change, and it is recommended to check the wallet's official website or documentation for the most up-to-date information on fees.