Exodus Crypto Wallet Review

Rating: 5/5

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Rating: 5/5

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What Is Exodus wallet?

Exodus Wallet is a relatively new software wallet that has already gained popularity. Its creators were J.P. Richardson and Daniel Castagnoli. Richardson has previously written code for numerous cryptocurrency projects, while Castagnoli has worked as a designer for major companies such as Apple, BMW and Nike.

Review Summary

Feature

Total Rating

Ease of Use

5 ⭐⭐⭐⭐⭐

User Interface

5 ⭐⭐⭐⭐⭐

Features

5 ⭐⭐⭐⭐⭐

Security

5 ⭐⭐⭐⭐⭐

Support

5 ⭐⭐⭐⭐⭐

Advantages and disadvantages

Advantages

Disadvantages

  • Easy to use
  • Has customer support
  • Great choice of cryptocurrencies
  • Software wallet
  • Built-in exchange function
  • Vulnerable to security problems
  • Commission can be quite high

About the wallet

About the wallet

Exodus wallet has the following features, which distinguish it from other cryptocurrency storages:

  • No registration. You just need to download the installation file of the program from the official website exodus.io and run the installation.
  • No verification.
  • Private keys are available for downloading.
  • Exodus refers to the "thin" wallets and does not upload to the disk blockchain network, but synchronizes online with the server.
  • Support is available 24 hours a day.
  • Open financial system of decentralized applications 
  • Multicurrency. There are 100+ of the most promising cryptocurrencies in the listing.
  • Intuitively very simple and easy to use.
  • Ability to make a backup using a sid-phrase.
  • Dynamic commission, which is set automatically and goes to the miners for the inclusion of the transaction in the nearest block. It cannot be changed. Exodus does not charge its commission on withdrawals or deposits.
  • Recovery with seed (12 words in English).
  • Private keys and other confidential data are securely encrypted and stored locally on your computer. Third parties, including Exodus employees, do not have access to them or store them on their servers.
Supported Cryptocurrency Assets

Installing Exodus


To download, you need to go to the official Exodus website in the "Downloads" section. On this page there will be the date of the latest and next release, update history, user agreement, links to download the application for different operating systems.

Installing Exodus

Exodus Wallet installation instructions:

  • Launch the installation file
Exodus Wallet installation instructions:
  • Wait while the installation lasts (1-2 minutes)
  • An icon named "Exodus" will be created on the desktop. By clicking on it, you can enter the wallet.

Main sections of the Exodus interface

Interaction with Exodus is done through the menu items presented in the form of horizontal panel on top of the application window. There are 4 sections with the main functions of the wallet, as well as tabs History, Support, Settings.

Viewing assets in Exodus Wallet

The data on the cryptocurrencies owned by the user is displayed in the Portfolio menu item as a pie chart, as well as a detailed list of coins with their names, prices, quantity, value and percentage distribution.There you can also view the history of changes in the total value of assets in the user's portfolio as a graph by selecting one of the available time intervals.

Transfer and acceptance of cryptocurrencies using Exodus Wallet

Operations on receiving and sending coins displayed in "Portfolio" are made through the menu item "Wallet".To send funds, you need to select the desired crypto-asset in the list and click "Send" button. In the window that opens, specify the address of the recipient's wallet and the number of coins to be sent.
If you are sending own blockchain coins (BTC, ETH, XRP, etc.), you must have enough money on your balance to pay the transfer fee. If you are sending ERC20 tokens, you must have enough ether in your account for that purpose. In both cases, the estimated fee is indicated at the bottom of the sending transaction formation window.
To accept assets using Exodus, you need to copy the wallet address from the window that appears when you click "Receive" and pass it to the sender.

Crypto-assets exchange in Exodus wallet

Internal cryptocurrency exchange is a distinctive feature of Exodus and is available in the Exchange menu. This functionality is based on the ShapeShift exchanger and is only available for assets supported by the wallet.
The exchange process is very simple: you select the source coin and its amount on the left, and the currency you want to get on the right. The final amount of coins at the output is calculated automatically (minus the commission) and depends on the exchange rate on ShapeShift.

Backup and recovery features of Exodus Wallet

Backup and recovery features of Exodus Wallet

To ensure reliable protection of crypto-assets, the user should use the "Backup" menu item (Backup), which is located in the Settings section. The first thing to do is to specify a password, which will need to be entered every time the Exodus application is launched.
Next, the user will be prompted to write down a 12-word phrase that will ensure that access to the wallet is restored after the application has been reinstalled due to a change of device or OS.
The user must then confirm that he has saved the secret phrase by selecting one of the 4 words offered, which is part of it.
After completing these steps, the "Backup" tab will display a notification that the backup is complete. There you will also see buttons to reset the password and view the seed phrase.
To restore an existing user account after installing the Exodus app, you need to select the "Restore from Backup" tool from the "Portfolio" menu and enter the 12 previously saved secret words.

Conclusion

Exodus is a reliable and convenient multicurrency wallet that boasts a large set of features.

Moreover, Exodus' three-year history without hacking incidents proves its high level of security. And this is the main quality that most users need, as they choose a reliable option for storing cryptocurrency assets and are ready to pay slightly higher commissions for their fast transfer.

There are almost no negative reviews about the wallet. Basically, problems arise from those users who poorly understand the work of cryptocurrencies and blockchain, write off all misunderstandings to Exodus Wallet, leaving negative reviews.

Jack Evans


I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments.
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