Atomic Wallet - Do I Really Need Another Wallet?
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Atomic Wallet - Do I Really Need Another Wallet?

By Bragato18 | Bragato18 | 14 Jun 2020


Do I really need another wallet?

My wife and I try and keep the storage of our tokens and coins as simple as possible. We don't really want a multitude of wallets, with all those passwords, 12 word seed phrases to keep secure. So up till now we have mainly used the Exodus wallet for our stash and MyEtherWallet for the few ERC20 tokens that Exodus don't support. Recently we purchased the Ledger Nano Back-up Pack with includes a Nano X and a Nano S for the back-up. Once we have it set-up, we will transfer all the tokens and coins to the Ledger Nano X. But in the mean time we are still using the MyEtherWallet and Exodus wallets.

What To Do With The DAI and LRC?

I initially came to Publish0x because of the BAT tips. Back in February about 95-97% of the tips were BAT and the rest was DAI and HYDRO. About April HYDRO was retired and Publish0x introduced Loopring (LRC) to the tipping pool. Tipping ratio changed to

  • LRC 50%
  • DAI 25%
  • BAT 25%.

And the total value of the tips dropped roughly 40%. 

Currently the tipping ratio is

  • DAI 47%
  • BAT 27%
  • LRC 27%

as confirmed by 

Brave

So suddenly we weren't getting as much BAT and accumulating a lot more DAI and LRC.

Now Exodus supports DAI, so until I decided what to do with them it was just as easy to send them to the Exodus wallet for the time being. 

But what to do with the LRC? Was undecided, so we just left them to build up on Publish0x.

DAI Writing Contest #AtomicWalletTutorial

Brave

Now the Atomic Wallet supports Loopring (LRC). 

  • I could send the LRC to Atomic Wallet.
  • exchange the LRC for some more Tezos. 
  • stake the Tezos on the Atomic Wallet.
  • use the Tezos address to claim 0.01 XTZ each week from the Tez Faucet using my wife's mobile number.

The problem of what to do with the LRC seemed to be solved. Plus I could write about the process and kill two birds with one stone.

Tezos Faucet

Step #1

open the Tezos wallet and select Receive. Then copy the Tezos address.

Brave

Step #2

enter the Tezos wallet address and my wife's mobile number on the Tezos Foundation's Faucet. We get the Success message.

Brave

Step #3

a few seconds later the 0.01 XTZ turned up in the Atomic Wallet.

Brave

Now we had a change of heart regarding the LRC. We made a managerial decision and ended up sending it to the Binance Exchange. Thats another story for another day.

While Binance don't support DAI, we can still send the  DAI to the Atomic Wallet and exchange for some Tezos. Also we have some EOS sitting on Coinbase, leftover from watching the educational videos and referral earnings, which also can be exchanged on the Atomic Wallet. Now we have a plan.

Transfer the DAI to the Atomic Wallet

Step #1

open the DAI wallet and select Receive. Then copy the DAI address

Brave

Step #2

open the DAI wallet in Exodus and select Send. Enter the DAI wallet address and select Send. There was a 0.001951125 ETH gas fee which was $0.67 AUD, but this comes out of the Exodus ETH wallet.

Step #3

as if by magic, a few seconds later the DAI is in the Atomic Wallet

Brave

Exchange the DAI for Tezos (XTZ)

Step #1

Selecting Exchange  from the side menu, takes you to the Instant Exchange. Now when I first tried to exchange the DAI for XTZ, it came up with a message that I did not have sufficient ETH to cover the gas fees. It gave me an option to claim 0.002898593 ETH and when I selected Claim , it opened the following email window - Claim ETH for DAI Exchange. Sent that off.

Brave

Their prompt reply was:

Brave

Now with 0.0029 ETH in my wallet, I select EXCHANGE.

Brave

Now it takes you to a screen advising that the funds have been sent to an Exchange. Atomic Wallet's Exchange Partners are Changelly and ChangeNow. Estimated time is 5-20 minutes. The amount you get is an estimate only, due to market fluctuations. Also Atomic Wallet takes a 0.5% commission for exchanges, that piece of information I found in the FAQ section under Support.  All good so far.

Brave

And we actually gained a little on the exchange due to market fluctuations. Picked up an extra 0.0474 XTZ. Can't complain about that.

Brave

Lets do Some Staking

Step #1

Select Staking from the side menu. This gives you the selection of tokens available for staking. Select Tezos XTZ

Brave

Step #2

We need to CHOOSE BAKER.

Brave

Step #3

I will cheat and use our Exodus baker Everstake who is paying 5.78% and just happens to be at the top of the list. Select STAKE.

Brave

Step #4

Ready to Stake 20.576087 XTZ to Everstake. Just need to enter the password and CONFIRM.

Brave

All done. 

Don't Already Have the Atomic Wallet?

Then you can use my referral link and we both get $5 of AWC. 

Download Atomic Wallet Now and Get $5 AWC Token

What is the AWC?

AWC is the token issued by the cryptocurrency wallet AtomicWallet.io.  AWC Tokens serve as an internal currency for Atomic Wallet users. AWC token holders receive benefits such as staking, discounts on exchange services, extra features for trading desks, affiliate and bounty rewards.

The End

That proved to be a relatively simple and easy process. I even gained 0.0474 XTZ on the quoted estimate. Thats a bonus.

To answer my question. Do I need another Wallet? Yes, the Atomic Wallet has an advantage over using the Exodus to exchange the DAI, as it takes the ETH gas fee from the DAI, as there is no ETH in the Atomic Wallet. Where with the Exodus Wallet, the gas fees are taken directly from the ETH wallet.

I hope if you are intending to use the Exchange and/or Staking features of the Atomic Wallet that you find this tutorial useful and informative.

If you liked then give us a thumbs up.

Stay Safe

 

 

Support Your Local Blogger

tip, like, follow and use the referral links below

Brave Browser

If you are not already enjoying the benefits of using the Brave Browser on your laptop or mobile devices. 

Click on the Brave link to download and install the Brave Browser and start earning BAT (or just experience the speed and security of an ad free browser).

https://brave.com/kay661

Free Tezos

Claim XTZ every 24 hours from the Global Hive Tezos Fountain. 

https://globalhive.io/auth/register?ref=2113

Claim 0.01 Tezos every 7 days from the Tezos Foundation Faucet. 

https://faucet.tezos.com/

Free ZEN

Claim ZEN tokens every 20 hours from the Horizen Faucet

https://getzen.cash/auth/register?ref=258534

Atomic Wallet

Download the Atomic Wallet now for free

  • instant exchange
  • secure staking
  • multi-currency
  • buy crypto
  • 15 AWC welcome bonus

  https://atomicwallet.io?kid=19QC79

 

 

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Bragato18
Bragato18 Verified Member

I am a sun sea and sand person, makes chocolate, grows organic vegetables, rides a Vespa and collects crypto. https://twitter.com/Bragato18CCS


Bragato18
Bragato18

Bought our 1st pieces of BTC, July 2017. The process was daunting and confusing. Could easily given up & put it in the too hard basket or have fallen victim to one of the many scams or pitfalls. Grateful to a friend of my son's, who had been in this space for awhile, giving me some good advice & steering me in the right direction. That experience has helped shape my desire to share what I learn. Also always had a morbid fascination with Snake Oil Salesman & their sales pitch; Bitconnect, USI Tech..

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