How to store Cosmos (ATOM) coins

To ensure the secure storage of Cosmos (ATOM) coins, various options are available, including popular hardware wallets like Ledger Nano X, Trezor Model T, and software wallets like Cosmos Station, Keplr, and Coinomi.

Dec 09, 2024 at 09:20 am

How to Store Cosmos (ATOM) Coins

Understanding Storage Options for ATOM

Cosmos (ATOM) is the native cryptocurrency of the Cosmos ecosystem, a network designed for interconnecting blockchain networks. As with any cryptocurrency, secure storage is crucial for ATOM holders, and various options are available to cater to different needs and preferences. This article provides a comprehensive guide to storing ATOM coins, comparing popular wallet types and outlining the steps involved in each storage method.

Top Hardware Wallets for ATOM

1. Ledger Nano X

Features:

• Supports ATOM and over 1,800 other cryptocurrencies
• Bluetooth connectivity for mobile app control
• Built-in screen for secure transaction confirmation
• Secure Element (SE) chip for enhanced security
• Customizable interface for ease of use

2. Trezor Model T

Features:

• Stores ATOM and other crypto assets
• Touchscreen interface for convenient navigation
• microSD expansion slot for additional storage
• Shamir Backup for robust data recovery
• Password manager for added protection

3. SafePal S1

Features:

• Supports ATOM and various other cryptocurrencies
• High-resolution color screen for clear visibility
• Fingerprint scanner for biometric security
• IP68 waterproof and dustproof rating for durability
• Offline storage for enhanced security

Software Wallets for ATOM

1. Cosmos Station

Features:

• Official wallet developed by the Cosmos team
• Supports ATOM staking and governance
• Compatible with desktop, mobile, and web platforms
• User-friendly interface for easy navigation
• Secure storage with mnemonic phrase backup

2. Keplr

Features:

• Non-custodial browser extension wallet
• Supports ATOM staking and Interchain Accounts
• Integrates with various Cosmos DeFi applications
• Advanced staking options for experienced users

3. Coinomi

Features:

• Supports ATOM and over 1,250 other cryptocurrencies
• Crypto exchange and dApp integration
• Fiat currency on-ramp and purchase options
• Multi-factor authentication for enhanced security

4. MyEtherWallet (MEW)`

Features:

• Well-established Ethereum wallet
• Supports ATOM through integration with the Cosmos chain
• Secure storage with mnemonic phrase backup
• User-friendly interface for beginners and advanced users alike

5. Atomic Wallet

Features:

• Multi-currency wallet for ATOM and over 500 other cryptocurrencies
• Built-in exchange for easy cryptocurrency swaps
• Staking and rewards for ATOM holders
• Dedicated customer support for assistance

Steps for Storing ATOM on Hardware Wallets:

1. Acquire a hardware wallet: Purchase a reputable hardware wallet, such as a Ledger Nano X or Trezor Model T.
2. Set up your wallet: Follow the manufacturer's instructions to set up your hardware wallet, create a PIN code, and initialize it.
3. Install Cosmos app: Connect your hardware wallet to a computer and install the Cosmos app from the official website.
4. Create an ATOM account: Open the Cosmos app on your hardware wallet and create a new ATOM account.
5. Receive ATOM: Provide the ATOM address generated by your hardware wallet to send ATOM from an exchange or another wallet.
6. Store securely: Keep your hardware wallet in a safe location, and regularly back up your recovery phrase or seed words.

Steps for Storing ATOM on Software Wallets:

1. Download the wallet application: Visit the official website of your chosen software wallet and download the application for your preferred platform (desktop, mobile, or web).
2. Create a new wallet: Follow the on-screen instructions to create a new wallet and generate a mnemonic phrase.
3. Add Cosmos (ATOM): In your wallet, navigate to the "Add Coin" or "Assets" section and search for Cosmos (ATOM). Enable ATOM support and create an ATOM account.
4. Receive ATOM: Provide the ATOM address generated by your software wallet to send ATOM from an exchange or another wallet.
5. Store securely: Write down and store your mnemonic phrase in a secure location. Enable additional security measures like two-factor authentication or password protection.