Are you looking for a trustworthy and user-friendly crypto wallet? If so, you should definitely check out this Exodus crypto wallet review.
This multi-currency wallet is highly respected within the crypto community and offers a wide range of features that make it perfect for both new and experienced users. Keep reading to learn more about what makes Exodus such a great choice for storing your cryptocurrencies.
Is exodus wallet safe?
Exodus provides a secure cryptocurrency wallet that can be used regularly. An online wallet is not as secure as a digital currency that has been stored in cold storage, such as a paper wallet.
Exodus mobile and desktop wallets lack important security features. This makes exodus less secure than other, more complex ones. It is not advised to store large amounts of crypto on this platform.
About exodus wallet (how does exodus wallet work)
Exodus is a digital wallet that supports more than 100 cryptocurrencies. It is a popular wallet for beginners in crypto investing. The interface is simple and welcoming to all. Exodus is intuitively designed and allows users to store, manage, and trade cryptocurrencies from one interface.
It also has excellent customer support because it is able to afford it. The company earns money by charging fees for trades with the exchange. Exodus has the ability to offer email support which is very helpful for crypto investors and newbies.
These services are however expensive. Exodus developers made compromises with privacy and security features in order to make the site more user-friendly.
Exodus’ main goal is to make it easier for digital coins users to access, manage, and use them.
The three components of a wallet are:
- Exodus wallet – Exodus functions in the same way as any other cryptocurrency wallet. It uses a set of codes to help users manage and link their crypto coins across different blockchains. Instead of storing crypto, it stores 3 codes: primary keys, seed phrase, and public address. The primary keys allow you to access the crypto coin in blockchains. A public key is used to address the wallet. The seed phrase, however, is a recovery code that aids in the regenerating of private keys if they have been lost.
- Portfolio – The Exodus team created a portfolio page that shows all relevant information including the breakdown of crypto coins and their updated value against fiat currencies.
- Exodus and ShapeShift Integration – This integration has created a unique value position. ShapeShift is one of the most popular crypto exchanges. It’s known for its trading, security, and user interface. Exodus users have the ability to trade directly on this crypto exchange from their Exodus wallet, with additional speed and privacy.
In this Exodus wallet review, I will show you how to create your wallet. Exodus is easy to set up and use. I have outlined the steps below.
1. The official website has the wallet. Beware of fake websites and phishing. You can check the green text at the end of the URL to verify the security certificate. It should contain the word “secure” or the company name.
2. After downloading the software, follow the prompts on the screen to install it.
3. Once it’s installed open your wallet, then click on the “wallet tab” at the left-hand corner of the screen.
4. Click on the cryptocurrency that you wish to add to Exodus. Next, click on “receive”.
5. A QR code and an address will be displayed to you. This is your public address. It is what you use to give someone who wants to send you crypto. This can be used to send crypto to your Exodus wallet from another wallet. You can also use this QR code to obtain the address from another device.
How to Create an Exodus Wallet?
You will be able to enjoy the Exodus platform’s groundbreaking features by creating an Exodus software wallet. Follow the steps below:
Exodus Wallet Review – Download the Exodus App & Create your Own Wallet
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- To download the Exodus app for your Android, Windows, Mac, or Linux device, visit Google Play Store or the Exodus website.
- After the download is completed, a prompt for installation will appear on your screen.
- Once the wallet is installed, open it and click on the Wallet tab.
- Click on Wallet and Receive to add different cryptocurrencies into your Exodus wallet. This will create a unique QR code. This code can be used to send crypto tokens to the Exodus wallet from other hardware wallets.
Every asset in your wallet has a private key. Go to the Developer Menu – Assets – View Private Keys to view the private key for a specific asset. For safety reasons, you should copy the keys and not reveal them to anyone.
How do I add custom tokens to my Exodus Wallet wallet?
ERC20 tokens can be stored on your Ethereum address even if they’re not listed on Exodus. All ERC20 tokens and Ether wallets share the same address. Cool, huh?
Exodus can be easily customized with unsupported ERC20 tokens.
- Follow these steps to find your Ethereum address and receive cryptocurrencies.
- Send the token to your Ethereum Exodus address from the wallet where it is stored (usually MyEtherWallet if you’ve created a custom token).
They won’t appear like other coins because they aren’t supported by Exodus. To verify that they have arrived, you will need to enter your Ethereum public address in an Ethereum blockchain Explorer.
It is slightly more difficult to send these tokens back from your Exodus wallet. It’s not difficult, but I’ll walk you through it step-by-step!
1. Navigate to the help menu in the left-hand panel.
2. Scroll to the bottom, and click “show Developer Menu”.
3. You will see more options at the top of your screen.
4. Click on “developer” then “assets”, then click “Ethereum”.
5. Next, click on “export private keys”. The pop-up box that appears will tell you where your private key was exported (usually to your desktop).
6. This file is now open. Highlight the private key and copy it.
7. Click “MyEtherWallet”, and then “send Ether or tokens”.
8. Click “private key” to paste your private key into the box.
9. Then you will be able to see into your wallet.
10. Use MyEtherWallet’s send options to send your custom tokens the same as you would with any other wallet
Is the exodus still a viable option for your wallet?
Exodus wallet is a great choice for anyone who loves cryptocurrency, especially those in the beginning stages of their journey. Exodus wallet isn’t one that can be easily outgrown.
Is the exodus wallet legal and secure?
The Exodus wallet is a cryptocurrency wallet that has been around since 2015. Exodus is free to use and supports many cryptocurrencies.
Exodus Wallet Review: The Pros and Cons
Pros:
- Exodus has a built-in Portfolio and Trading Functions. This makes it easy to trade one cryptocurrency for another and keeps track of your daily profits and losses.
- Multiple Cryptocurrencies Supported – It is possible to store more than 100 coins and other digital currencies in one place. This makes it easier to trade and spend significant cryptocurrencies.
- Exodus has a user-friendly and intuitive interface. It was created for everyone in the crypto community and is now the most popular wallet.
- Automatically Adjustable Fees-This Exodus advantage is designed for those who are not yet confident in fixing the correct transaction fee.
Exodus Wallet Review. Customer Support by Exodus
- Exodus Customer Support – Exodus customer support is responsive and professional.
- ShapeShift Integration: Exodus integrates with ShapeShift to make it anonymous and simple for users to exchange ideas.
Cons:
- Exodus Software wallets are easy to hack. Most users will lose their funds if keyloggers or other malware infect the device.
- It lacks important security support – It doesn’t include the necessary security features such as multi-signature support and two-factor authentication.
- It doesn’t support Crypto-to Fiat Transactions
Exodus Wallet Supported Cryptocurrencies
Exodus supports more than 100 cryptocurrencies including Ethereum, Bitcoin, and Litecoin. These are some of the most important cryptocurrencies that Exodus wallets allow users to store:
- BTC – Bitcoin
- ETH – Ethereum
- XLM – Stellar
- BTG – Bitcoin gold
- USDT – Tether USD
- BCH – Bitcoin Cash
- LTC – Litecoin
- EOS – EOS
- XMR – Monero
- BSV – Bitcoin SV
- DASH – Dash Coin
- BNB – Binance Coin
To see the complete list of supported cryptocurrencies, click here https://www.exodus.com/status/
Conclusion
Exodus is a popular multi-cryptocurrency wallet that allows you to store various coins and tokens in one place. The wallet has a user-friendly interface and allows you to easily send and receive payments. However, it does not have the option of two-factor authentication, which makes it less secure than some other wallets available on the market. Overall, Exodus is a good choice for those who want to hold multiple cryptocurrencies in one place but may be less secure than some of the other options available.