EOS wallet
EOS wallet is an app or a device, which purpose is to safely store users’ EOS private and public keys.
Private keys are required to sign transactions (send crypto assets from one wallet to another), while public keys represent your wallet on the blockchain. In other words, an EOS public key is your EOS address.
So, in essence, an EOS wallet is a device or an app that allows you to send, receive, store, and manage EOS, by giving you access to private keys and public keys.
But before diving into the world of EOS wallets, let us first take a closer look at what EOS and EOSio blockchain are and see what it’s all about.
What is EOS network?
EOSIO blockchain platform is a blockchain platform created to become a blockchain with commercial capabilities. What it means is that this network is capable of deploying decentralized applications (dApps), and is highly scalable. The core developer of EOS is Daniel Larimer.
EOS uses the DPoS consensus mechanism, which elects 21 super nodes through community voting to maintain the EOS network, and provides CPU power, bandwidth, and storage support for the EOS network.
Eos tokens
EOS coin is a native token of this blockchain. Businesses and individuals can use it to develop smart contracts, create dApps and make transactions without any third-party involvement thanks to all the tools that the platform provides, making creating dApps as easy as creating other web apps.
To put it very short, EOS is a network that utilizes blockchain technology to develop decentralized applications (dApps), which is very similar to Ethereum. For more detailed information about the EOS, network check out our guide.
EOS blockchain features
Scalability
Scalability is one of the core features of the EOS blockchain. Scalability has been the main hurdle for many other crypto assets, Bitcoin for example. Scalability basically refers to how much data can a network process at any given time.
As the number of transactions grows, the transaction speed decreases and the network fees are going up. An important metric to keep in mind with regard to scalability is TPS – transactions per second. EOS has managed to achieve a TPS count of 4000, while Bitcoin has around 7, and Ethereum (pre-merge) – has about 25.
No transaction fees
There are no transaction fees for sending and receiving EOS. It doesn’t mean the transactions are free, of course. The way it works is that EOS token holders share the fees, as the newly minted tokens dilute the existing market. Such a fee-free network makes EOS a great choice for a wide variety of users.
Besides, as a blockchain platform focusing on dApps, EOS benefits from making them free for end-users. Transaction fees could deter users from using a dApp if it gets too costly.
A Constitution
A set of laws that everyone agrees on. Those laws are applied to every consequent mined block so that the user can easily read the chain.
EOS Account
An EOS account consists of two separate entities, the active key, and the owner key.
Active key is used to manage resources, vote for block miners, buy ram, etc. The owner’s key indicates the account’s ownership and is required to create any adjustments to the account’s property.
Types of EOS wallets
We’ve already touched on how you’ll need to hold EOS tokens to participate in the network, but the question that remains is how do you store your virtual coins safely.
The answer lies in a secure EOS wallet, which should ideally offer viable levels of encryption while taking steps to safeguard your private keys. However, there are also several different types of EOS wallet, so we’ve explored each of these in a little more detail below:
Online (or Web) Wallet
Online wallet is the most accessible and easiest-to-use option for EOS holders, as they can be accessed through a web browser on any gadget that’s connected to the Internet. Since you only need a web browser to access it, you can use it on your PC or a phone, or a tablet. Your private keys are typically stored on servers which creates significant security concerns, as your funds and data may be at risk in the event of a cyber breach.
Software Wallet
Next up is software (or hot) EOS wallet, which is similar to online alternatives and also tends to be easily accessible. They’re also completely free, with the primary difference being that you’ll need to download a third-party mobile or desktop app to your chosen device. Most of the time, such wallet will have options for Windows, Mac, Linux, and so on. Once again, you’ll usually require an active Internet connection to access a software EOS wallet, while the same issues regarding security and private key storage remain. Unless, of course, you choose a non-custodial wallet (like Atomic Wallet) where your data is stored on your end.
Hardware Wallet
Hardware EOS wallet, also known as a cold wallet and is widely considered to be the most secure option on the market. With these, your private keys are stored securely offline, creating an additional layer of physical protection in the event of a hack. The gadget itself is usually also protected by a pin code. To this end, hardware wallets tend to resemble standalone USB devices with additional side buttons, and they’ll typically set you back between $70 and $150 to purchase outright.
Paper Wallets
We close with the least popular type of EOS wallet, with paper wallets significantly different from the other options listed here. As the name suggests, you’ll be compelled to write down your private and public keys on a piece of paper, before storing this information in a secure, physical location. While it’s completely free and non-technical, it lacks convenience and can cause huge issues if the paper is subsequently lost or stolen.
Atomic EOS Wallet
Now that you’ve learned a little bit about EOS and what an EOS wallet is, we’d like to present to you a secure EOS wallet, with a user-friendly interface and a variety of features.
Decentralized exchange
Atomic EOS Wallet is a decentralized multi-currency EOS wallet. It’s a software wallet that supports more than 300 cryptocurrencies and has an integrated cryptocurrency swap, which allows you to swap ing hundreds of available trading pairs.
You also get access to 24/7 live customer support, lack of operational costs, and security. The latter is ensured by the fact that it’s a cold wallet, so your crypto is entirely under your control, as your private key is stored only on your computer or a phone. This ensures that only you have full control over your assets.
The primary purpose of Atomic Wallet is not just to keep cryptocurrency but to create a healthy multifunctional ecosystem that, in many ways, resembles a decentralized exchange. Atomic Wallet has an internal token – AWC (short for Atomic Wallet Coin), which has many use cases in the ecosystem, such as dividends for holders and the cashback program. Furthermore, it also serves as a marketing tool for bounty and airdrop campaigns.
A secure EOS wallet
A significant advantage of a decentralized wallet, in general, is the ability to manage cryptocurrency from any device. Still, you need to pay attention to how you store the backup phrase. In HD Wallets (Atomic being one of them), the keys are generated from one master seed phrase, so that phrase is the primary access to your funds. With Atomic, your EOS wallet is protected as long as you keep your seed, or private key, in a safe and secure place. This data is kept in your local storage and protected using advanced encryption.
Atomic Wallet is also anonymous. We do not collect any of your data, not your mobile phone number, not email, nothing, not even your IP address.
Setting up Atomic EOS Wallet
Download and install
First, you need to go through a simple process of creating a wallet. Download the installation file for your operating system from the official website and install the app. If you’re setting up a mobile wallet, the process is even simpler, since you’ll be installing via a marketplace automatically (Google Play for Android and AppStore for iOS). Atomic is available for Windows, Mac, Linux, Android, iOS, and other operating systems.
If you need more specific instructions regarding a certain OS, check out our guide!
After that’s done, run Atomic Wallet, click ‘Create Wallet,’ set up a strong password, and click Set Password. Make sure it is a unique and secure password that you don’t use for anything else.
You will now see a 12-word seed phrase that can be used to restore access to the wallet. Be sure to keep it in a safe and secret place! Then click ‘Open Wallet.’
You can find a step-by-step guide on creating a wallet in Atomic here and if you encounter any difficulties with any of the steps, feel free to contact our customer support by filling out this form.
EOS account activation
When you create a new Atomic Wallet, the EOS account is not created automatically. You need to go through the process of EOS account creation. In simple words, you will need to create an account and deposit 0.8 EOS as a fee for account initiation. Partly this fee will be used to pay for the activation, partly to buy EOS resources, and partly will appear on your balance. If you want to know more about EOS account activation, check out our guide.
You can now use the Atomic EOS wallet. Find your EOS address and you can deposit the funds right away.
Getting EOS into your wallet
There are several ways of getting funds into your Atomic EOS wallet.
Depositing EOS
The first method is to simply send EOS to Atomic Wallet from an external wallet. The process is fairly simple even for a first-timer. All you need to do is to find your EOS address in Atomic, copy it, and paste it into the sending window of the app that you’re trying to send your funds from.
Swapping EOS
The swap allows you to buy EOS by paying for it with another asset. Let’s say you have some DOT (or any other digital currency) in your wallet, but you decide to try out EOS. The swap feature has got you covered. With more than 1000 coins to choose from, you can freely swap tokens without having to verify your identity or follow time-consuming ‘Know Your Customer (KYC) protocols.
The swap also provides real-time prices for assets and cryptocurrency pairs, so you can capitalize on any EOS price swing in the future. A step-by-step guide on swapping assets is available here.
Get EOS wallet today
If you are interested in becoming one of the EOS users, the best way to manage crypto in a secure and decentralized way is an EOS wallet. Having your crypto on a decentralized swapswapswap ent for day trading, but if you are interested in a long-term investment and considering staking your crypto, a wallet will be the best solution.
Choosing the Atomic EOS Wallet to hold your EOS coins in, allows you to easily create a wallet, hold EOS and swap it swap e, swap with a user-friendly interface.
Get the app on Google Play or AppStore for your mobile phone, or download it from our website for your desktop and join millions of EOS users right away!
