Exodus is a software crypto wallet developed and maintained by the Exodus Movement, publicly traded company in the US. It is arguably one of the most popular software wallets, and in our Exodus wallet review we will explain why. The name implies, Exodus is a non-custodial application for managing one’s crypto funds and keys. Crypto wallets do not store the cryptocurrencies but rather the public and private keys with which transactions are signed. While this is what defines cryptocurrency wallets, Exodus and other apps are successful because they offer features to the users .
Exodus is a multi-currency wallet, which means it can generate keys and addresses for hundreds of supported coins and tokens. To do so, though, it uses its own single seed phrase, because it is a hierarchical-deterministic wallet. Loss of this seed phrase would mean losing all portfolio, so store it securely and never share it with anyone.
Exodus Wallet is available on desktop computers (MacOS, Windows, Linux) and smartphones (iOS, Android) .
Exodus is a desktop based wallet account. Therefore, users must first download the application on their systems and then create an account. Here are the steps to creating your own Exodus wallet.
1. Visit the official website of Exodus wallet. Double check if you are not using a phishing website.
2. On the top right corner of the website, you will find the ‘Download’ button. Click on it.
3. On the next page, choose your operating system. Exodus is available for Windows, Mac, and Linux.
4. Run the downloaded file and install the wallet.
5. Your wallet is now ready to use. No sign up necessary.
It is full of features useful for newbies and pros alike. Let’s view what this wallet has under the hood!
For example, the most striking feature of Exodus, both on mobile and desktop, is portfolio tracker. When you open the app, you can see the information about your asset performance conveniently on the home tab. It also updates balances and displays them as a currency of your choice in real time.
Another life-saving feature for a multicurrency wallet is the in-app exchange. With it, you won’t have to go to an exchange to buy one cryptocurrency with another. Since this feature is provided by ChangeHero, we’ll definitely give a walkthrough to it later in this Exodus wallet.
Mobile Wallet – Navigation on the Exodus mobile wallet is simple with just three categories: Portfolio, Exchange, and Wallet.
Desktop Wallet– The desktop app comes with a few additional tabs: Settings, Backup, App Explorer, and Help
Trezor Hardware Wallets – Exodus can be paired with the Trezor Model T or Trezor One hardware wallets for more enhanced security functions.
Exodus Crypto Apps – The application explorer has a featured app segment that offers easy navigation and cryptocurrency apps within the platform. The app is used to earn interest in cryptocurrencies.
Exodus wallet is as safe and secure as a software wallet can be, keeping in mind, as with any desktop or mobile cryptocurrency wallet, Exodus wallet is only as secure as the device it is installed on. If the device that holds a cryptocurrency wallet has a virus, malware, or is compromised, the security of the wallet is at risk. Exodus have written an extensive in-depth article on all the best practices to follow to keep your crypto safe which is worth reading for any crypto user.
The Exodus wallet creates, encrypts and stores all of the user’s information on their local device, adding the support of traditional two-factor authenticator methods was not a plausible addition to the wallet’s security.
To exchange cryptocurrencies in Exodus Wallet, go to the “Exchange” tab, choose a pair, provide amounts, double-check and click “Exchange”.
The wallet serves as an interface to interact with blockchains. It does not hold any currencies but only helps you sign transactions with the private key.
WHAT COINS DOES EXODUS WALLET SUPPORT?
There are 132 supported coins in total. About 90 of them have full support of sending, receiving and exchanging.
HOW DO I FUND MY EXODUS WALLET?
Go to the “Wallet” tab, choose a cryptocurrency you need, click “Receive”. You will see your address of the currency of your choice. Provide it as a withdrawal address to the exchange or service where you are buying crypto.
We hope that you found our review helpful. You can check out more content in our blog and social media: Twitter, Facebook, Reddit and Telegram. Overall, Exodus wallet is a good product. It is not one of the best in the market in terms of security but provides a highly intuitive way to manage multiple crypto assets.