can atomic wallet verify crypto

Atomic Wallet partners with Coinfirm to verify select crypto assets, enhancing security, compliance, and trust through their rigorous authentication process.

Oct 31, 2024 at 10:47 pm

Can Atomic Wallet Verify Crypto?

Yes, Atomic Wallet offers cryptocurrency verification for certain assets. Here's how it works:

1. Supported Assets: Atomic Wallet supports verification for several cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Binance Coin (BNB), Ripple (XRP), and other ERC-20 and BEP-20 tokens.

2. Verification Process: To verify your crypto assets, follow these steps:

   • Open the Atomic Wallet app and navigate to the "Assets" tab.
   • Find the asset you want to verify and click on it.
   • Scroll down and select "Verify."
   • Enter the amount you want to verify and click "Continue."
3. Third-Party Verification: Atomic Wallet partners with Coinfirm, a blockchain analytics and compliance provider, to perform the verification process. Coinfirm vets the authenticity and legitimacy of your crypto assets.
4. Verification Results: Once the verification process is complete, the results will be displayed in the Atomic Wallet app within 72 hours. Verified assets will have a green "Verified" badge next to them.

Benefits of Crypto Verification:

• Enhanced Security: Verified crypto assets are more secure as they have been checked for potential fraud, theft, or other malicious activities.
• Compliance and Regulations: Some cryptocurrency exchanges and institutions require users to verify their assets before making transactions.
• Increased Trust: Verifying your crypto assets can increase the trust and credibility of your transactions with others.

Limitations:

• Not all assets supported by Atomic Wallet can be verified.
• The verification process can take up to 72 hours or more, depending on the asset and volume of transactions.
• Atomic Wallet charges a small fee for cryptocurrency verification.

Conclusion:

Atomic Wallet offers cryptocurrency verification for select assets, providing increased security, compliance, and trust for its users. By utilizing a third-party verification partner, Atomic Wallet ensures the authenticity and legitimacy of your crypto holdings.