The Ultimate Exodus Review | CoinStats Blog

Introduction

There are many wallets in the cryptocurrency market, all claiming to be the best. From desktop wallets to mobile wallets to paper wallets, there’s a variety of options out there. It depends on the type of wallet you’re looking for.

Do you want to safely store small amounts of coins online?

Are you looking to take control of your wallet address and private keys?

Do you just want to have a safe wallet that is always accessible and easy to access?

If you have answered “yes” to any of these questions, then you are ready to set up your Exodus wallet account.

Continue reading to find out all about Exodus, its key features, as well as pros and cons.

Let’s jump right in!

Exodus: What is it?

Exodus has a simple, intuitive interface that is easy to use, more than 150 assets and many other features. While investors of all skill levels can benefit from the wallet, it’s ideal for beginner crypto enthusiasts looking for ease of use. Exodus’ support team is professional and responsive to customers.

JP Richardson and Daniel Castagnoli crafted Exodus – one of the most straightforward and best-designed crypto wallets – with love, as stated on its homepage.

Exodus allows you to store a large number of coins including popular ones like Bitcoin and Ethereum. However, one of Exodus’ cool features is that you can also store cryptocurrencies that are currently unsupported or based on the ERC-20 blockchain. All platforms can use the funds.

Exodus wallet can support 150+ cryptocurrency, including:

Source: Coin Bureau

• Bitcoin (BTC).
• Ethereum (ETH).
• Litecoin, (LTC).
• Tron (TRX)
• Bitcoin Cash (BCHABC).
• Dash (DASH)
• Binance Coin (BNB).
• Ethereum (ETC).
• EOS (EOS)
• Zcash (ZEC).
• Bitcoin SV (BSV).
• Bitcoin Gold (BTG).
• Ripple (XRP).
• The list goes on.

Exodus: What Was It?

Exodus was launched in 2015 by JP Richardson, Daniel Castagnoli and is multi-currency wallet.  The “two guys with a passion for blockchain assets,” as described on the Exodus homepage, aimed to provide an easy-to-use cryptocurrency wallet that was great for newbies. Exodus can be downloaded for free on Windows, Linux and MacOS, as well on Android and iOS mobile devices.

JP Richardson published more than 200 open-source library files and wrote code that is used by the majority of Bitcoin and cryptocurrency software today.

Daniel Castagnoli, a master at emotional design, has created experiences for many brands including Apple, BMW and Disney.

The Exodus team wanted to make cryptocurrency trading easy for all Exodus users, and their main priority was the product’s design. You don’t have to be an expert in crypto coins to use the Exodus wallet.

Exodus: How does it work?

Exodus is designed to facilitate the management and access of digital assets.

Exodus is a local software you can use to manage your crypto portfolio. You don’t need to sign up for an account. Exodus has a hot, secure wallet. It stores all your data and encrypts it. Each wallet is different and each one has strengths and weaknesses. Your investment goals and preferences will determine which wallet you choose.

Let’s break down some features of software wallets you need to know:

Wallet

Exodus operates through a set of codes which allow users to link and manage crypto coins across different blockchains. It can store 3 codes.

• Private keys
• The recovery code Peedphrase
• Address to the public.

Private keys allow users to access crypto in Blockchains. The public key, on the other hand, acts as an address and wallet. To regenerate private keys, the user can use the seed word to retrieve them if they are lost.

Portfolio

Exodus created a portfolio page that displays relevant information. This includes the breakdown and updated values of owned cryptos against fiat currency. Exodus customers have the option to use portfolio for tracking their holdings as well as performance.

Exodus can be used as a mobile or desktop app to track your crypto portfolio.

Source: Crypto Newsz

ShapeShift Integration

The Exodus’ integration with ShapeShift, one of the best crypto exchanges around, has led to a unique value position. ShapeShift’s trading platform, security features, user interface and privacy features are all highly regarded. So, the integration enables Exodus’ users to trade on this exchange directly from the Exodus wallet with extra speed and privacy.

Exodus Wallet Features

Exodus wallet offers many great features. 

• Exodus Wallet can be downloaded for free by users. There is no need to register or provide any personal information.
• It’s one of the most accessible wallets, supporting multiple currencies. 
• It’s easy to make transactions; as long as you have automatic fee adjustment set up, all transactions will be priced at a fair market rate (which beginners might not feel confident doing themselves).

• The company boasts of a 24*7 customers support team with quick responses, an advantage that is rare among cryptocurrency products these days! 
• Exodus has a simple-to-use, one-click layout and private keys. It also supports hardware wallets.

Exodus Wallet Security

Exodus wallets are as safe as any desktop or mobile wallet. Exodus software wallets may be easily compromised and users can lose money if they are infected by keyloggers.

If you’re concerned about your Exodus wallet security, the following points could be deal-breakers:

• Your wallet’s security is in jeopardy if the Exodus wallet device is infected with malware or viruses.
• Mobile apps do not have the ability to support security features such as multi-signature and two-factor authentication.

While Exodus stores your cryptocurrency online, it’s noncustodial, giving you complete control of your private keys.

Exodus has two options for restoring your wallet. These are the ways to restore Exodus Bitcoin wallets if they get lost or damaged.

1. 12-words Recovery phrase: This 12-word phrase is provided to all new users upon creating an account. You can access your cryptocurrency wallets by using this phrase if your device crashes.
2. Email restoration: Your wallet can be restored by sending an email to the account linked.

To sum up, it’s vital to keep your Exodus wallet safe. Exodus customer care can help users in cases of security breach.

Exodus Wallet: Which Type?

Exodus allows you to have complete control over all your crypto assets. It doesn’t manage or take custody of any assets on your behalf but instead offers users more options and freedom for their coins.

Exodus is also compatible with the TREZOR Hardware wallet. It offers a stylish interface and strong security to individuals who want to be protected from hackers.

Exodus is also designed as a lite wallet so that it does not download the entire blockchains to the device and instead uses a series of servers to track wallet balances — making the setup significantly faster. Exodus wallet is fast to set up, making it easy for any platform including Windows, Mac OS Linux and Android.

The Exodus wallet’s exchanging assets feature works exceptionally well, offering crypto beginners an easy way to trade without getting lost amongst all the available choices!

Exodus Products

Exodus is your crypto manager. With a single touch, you can send or receive cryptocurrency like Bitcoin or Ethereum.

Let’s look into the Exodus wallet products:

Mobile Wallet

Exodus is an easy-to-use mobile wallet with an intuitive design.

Three interfaces are available for Exodus Bitcoin wallet transactions

1. Portfolio
2. Exchange
3. Wallet.

Desktop Wallet

Exodus, originally a desktop-only crypto wallet, is renowned for its speedy transactions and easy use.

Trezor Hardware Wallet

Exodus can be used to manage, trade, and exchange blockchain assets. By integrating with Trezor Model T, Trezor One and other hardware wallets, it provides secure storage of cryptocurrencies. You can also exchange one cryptocurrency for another using the same wallet interface that you have on your computer.

How to Make an Exodus Wallet

First, you’ll need to sign up for a free Exodus wallet at Exodus.io. After verifying your email, you’ll be given access to your new wallet.

The Exodus Wallet Application is available for download

• Next, you’ll need to install the Exodus software wallet. Exodus can be downloaded from Google Play Store and Windows Store.

You can create a brand new wallet

• Once you’ve installed the Exodus wallet, it is time to create a new wallet. You can do this by going to “Exodus” in your main menu and selecting “Create New Wallet.”
• The next step is to create a password. Keep this password in mind, it will be your password to unlock your wallet.

Private keys are required for every asset that you keep in your wallet. To check the private key of an individual asset, go to the Developer Menu → Assets → View Private Keys. Copy and save these keys somewhere safe for safety reasons, and don’t disclose them to anybody.

Sending Cryptocurrency Using Exodus Wallet

Exodus can be used to send, receive, or exchange your cryptocurrency. For each transaction, follow our steps-by-step instructions below.

Exodus Wallet: Receive Coins

For coins to be received in your Exodus pocket wallet

1. Open your wallet and click the “Wallet” tab.
2. Click the button to get the desired coin
3. Click “Receive,” then click “Copy.”
4. This address should be pasted into the address box that Easy Crypto will ask for when you place a purchase order.

Sending Coins on Exodus Wallet

Send coins to:

1. Click on the “Wallet” icon at the top of your Exodus wallet.
2. Click on the crypto you want to send, then click the “Send” button.
3. Copy the address where you would like your crypto sent. Click the QR button to scan the code from either your webcam, or your desktop.
4. You can enter the amount that you wish to send. Exodus makes it easy to send the Blockchain Unit. You can also enter fiat currencies, which Exodus then converts into crypto.
5. Exodus then will verify that all details are correct. If all looks good, click the “Send” button.

Exodus Coin Exchange

You can easily exchange currencies within the app using the ShapeShift currency exchange.

Here’s how to exchange coins:

1. Open your Exodus wallet on your mobile device and tap on the “Exchange” tab at the bottom.
2. You can choose the asset that you wish to exchange on the top or the one you would like to receive at the bottom.
3. Click View Rates to see the current rate, and then type in how much crypto currency you wish to exchange.
4. You will see the transaction fee in your asset that you’re exchanging. Hold the button down to convert it into fiat.
5. Once you are happy with the amount of crypto, you will send and receive in your exchange, just tap the “Exchange Now” button at the bottom.

Most Frequently Asked Questions

Exodus – Is it a hot Wallet or a cold Wallet

Exodus is a hot wallet, which means your assets are stored online, but it’s noncustodial, meaning that only you have access to your private key.

Exodus: How does it make money?

Exodus makes revenue from partnerships with API providers, exchanges, and other API providers. Exodus receives only a fraction of third-party API provider exchange fees. This can fluctuate greatly depending upon market conditions. Before you can make a transaction, you’ll always be able to see how much cryptocurrency you have exchanged and the amount you’ll receive.

Exodus wallet charges fees

You don’t have to pay transaction fees when you withdraw Bitcoin (BTC), Ethereum (ETH), or any other cryptocurrency. It is only necessary to ensure that network fees are not charged when you send transactions. Exodus doesn’t charge you for receiving cryptocurrency in your wallet. The custom network fees are not your responsibility.

Is Exodus Wallet Trustworthy

Exodus keeps all your cryptocurrency directly on your device. They are yours to manage at all times. Exodus maintains a backup of these assets and does not store any information regarding the passwords or keys on its servers. This makes it even more secure.

So to answer the question – Yes, the Exodus wallet is as trustworthy as a digital wallet can be.

Exodus Review: Conclusion

To sum up the Exodus Wallet review, Exodus is an excellent hot wallet for beginners, and its ease of use has made it a user’s first choice compared to other user-friendly wallets.

This interface is attractive and allows you to sell, buy, or send cryptocurrency quickly. It’s a top cryptocurrency wallet.

Exodus is not able to charge custom fees for Bitcoin. The wallet is also restricted in that it focuses more on crypto user experience than security. This makes Exodus less useful for users who have large amounts of funds.

More information on Jaxx and Exodus can be found in the CoinStats section.