UPDATE 8 July 2021: There was a hacking job performed by someone working for ATOMARS in July 2021. The platform itself announced the following information:
Dear Atomars community.
We would like to inform you about the current situation - at the moment, an investigation is underway in several countries and is at the final stage. We ask all victims to write to the legal team to email [email protected] with providing documents, indicating the amount and ways of contacting you.
Thank you for your solidarity and patience.
We will keep you updated with new information.
We have decided to mark this exchange as "dead" and move it into our Exchange Graveyard, at least for as long as the situation remains unsolved.
To find a reliable exchange where you can start an account, just use our Exchange Filters and we'll help you find the right platform for you.
ATOMARS is a cryptocurrency exchange registered in the Seychelles. It launched in 2019.
As primary advantages with the platform, it lists its global presence, its high security standards and its 24/7 high quality support. We are unsure of whether global presence is such an important factor, seeing as the majority of all crypto exchanges are in fact global, but high security standards and excellent support are of course important factors to any prospective user of the platform.
On the date of first writing this review (17 February 2021), the platform's 24 hour trading volume according to Coinmarketcap was USD 50.5 million.
On the date of last updating this review (12 September 2021), we could no longer find the 24 hour trading volume anywhere. Coinmarketcap is no longer tracking the trading volume. On the other hand CoinGecko has flagged this exchange citing an "inside job hack" and put the trading volume at USD 6,352.
ATOMARS Mobile Support
Most crypto traders feel that desktop give the best conditions for their trading. The computer has a bigger screen, and on bigger screens, more of the crucial information that most traders base their trading decisions on can be viewed at the same time. The trading chart will also be easier to display. However, not all crypto investors require desktops for their trading. Some prefer to do their crypto trading via their mobile phone. If you are one of those traders, you’ll be happy to learn that ATOMARS’ trading platform is also available as an app. You can download it for Android phones but apparently not for iPhones yet.
ATOMARS Trading View
Every trading platform has a trading view. The trading view is the part of the exchange’s website where you can see the price chart of a certain cryptocurrency and what its current price is. There are normally also buy and sell boxes, where you can place orders concerning the relevant crypto, and, at most platforms, you will also be able to see the order history (i.e., previous transactions involving the relevant crypto). Everything in the same view on your desktop. There are of course also variations to what we have now described. This is the trading view at ATOMARS:
It is up to you – and only you – to decide if the above trading view is suitable for you. Finally, there are usually many different ways in which you can change the settings to tailor the trading view after your very own preferences.
ATOMARS Trading fees
Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. Many exchanges divide between takers and makers. Takers are the one who “take” an existing order from the order book.
ATOMARS charges what we call flat fees, meaning that both the takers and the makers pay the same fee. In this case, that fee is 0.20%. These flat fees are quite in line with, or slightly above, the global industry averages for centralized exchanges. In the largest and most recent empirical study performed on industry average crypto trading fees, we found that the industry average spot trading taker fee was 0.217% and the corresponding spot trading maker fee was 0.164%. Here, as you recall, they are both set at 0.20%.
Consequently, ATOMARS's trading fees are slightly below average for the takers and a bit higher than average for the makers.
ATOMARS Withdrawal fees
ATOMARS charges a withdrawal fee of 0.0005 BTC per BTC-withdrawal. The current global industry average is 0.000643 BTC per BTC-withdrawal according to this report, which is the latest such report prepared on the subject to our knowledge. Accordingly, the withdrawal fees charged by this platform are competitive.
Deposit Methods and US-investors
In order to trade here, you must have cryptocurrency to begin with. The only asset class you can deposit to ATOMARS is cryptocurrency. However, if you really like ATOMARS but you don’t have any crypto yet, you can easily start an account with an exchange that has “fiat on-ramps” (an exchange where you can deposit regular cash), buy crypto there, and then transfer it from such exchange to this exchange. Use our Exchange Filters to easily see which platforms that allow wire transfer or credit card deposits.
Why do so many exchanges not allow US citizens to open accounts with them? The answer has only three letters. S, E and C (the Securities Exchange Commission). The reason the SEC is so scary is because the US does not allow foreign companies to solicit US investors, unless those foreign companies are also registered in the US (with the SEC). If foreign companies solicit US investors anyway, the SEC can sue them. There are many examples of when the SEC has sued crypto exchanges, one of which being when they sued EtherDelta for operating an unregistered exchange. Another example was when they sued Bitfinex and claimed that the stablecoin Tether (USDT) was misleading investors. It is very likely that more cases will follow.
According to information we have received, US-investors are not permitted to trade at ATOMARS. If you're from the US and want to find an exchange where you can trade, just use our Exchange Filters and we'll help you.