Contents
With the Trezor device, all authentications and signing are done on the Trezor device and not on your computer or mobile. The Exodus wallet is a multicurrency cryptocurrency wallet that has generated a great deal of buzz since its launch back in 2016. You’re able to surveil assets, their price over time and also have an overall statistic to check on your investment. You can see not only the current price, but also a history of charts to follow up the parameters’ rate. When I first downloaded Exodus, I was delighted how the process of using a crypto wallet is simplified and orientated not only to experts in the sphere, but also to the newbies on board.
If you’re a newcomer to storing your own crypto, Exodus has a solid library of educational content about crypto security and digital assets in general. If you’re a more advanced user looking to track your investments, Exodus’ desktop and mobile apps have tools for tracking your portfolio. Created in 2015, Exodus gives customers reflection probes unity a way to depart the legacy system and join the crypto and decentralized web revolution. Need to send or receive Bitcoin, or simply store digital collectibles? Send and receive any of the 230+ supported blockchain assets or your favorite digital collectibles with the touch of a button using text addresses or QR codes.
In this Exodus wallet review, I will give you everything that you need to know about the wallet by digging into their security, reputation, and some of the features available in the wallet. I will also give you some top tips when using Exodus and storing your crypto. The team believes that the mobile version is inevitable, but still prefer to stand back behind the desktop one, because the majority of exchange volume happens through a desktop interface. Therefore, users don’t need to enter any personal information to download, install, or use the wallet.
With the ability to log in with a 12-word recovery phase and a password, users are always in control of their crypto funds. Users can also access various decentralized applications and non-fungible token collections on Exodus through its recently launched web browser extension. The wallet supports Ethereum, Solana, BSC, Algorand, and other blockchains. While the wallet’s security completely depends upon the device it is installed on, it fully supports Trezor to add another security layer for security-minded users.
Exodus may be an attractive choice for users who are migrating crypto portfolios off major exchanges but still want relatively easy access to their assets. NerdWallet’s ratings are determined by our editorial team. Lacks security options offered by competitors; some other wallets support more cryptocurrencies. Exodus was built with beginning cryptocurrency users in mind, but is also ideal for most mainstream cryptocurrency enthusiasts who are looking for a secure, easy to use, beautiful wallet.
What this means is that the platform doesn’t download the entire blockchains; instead, it uses multiple servers to trace wallet balances. Before we dive into the security details, let’s see how the Exodus wallet works. The wallet undergoes regular security updates and audits to ensure it remains as secure as possible. It is important to understand that as a non-custodial wallet, much of the responsibility with security is in the hands of the user. Cryptocurrency wallets are only as secure as the devices that they are installed on.
Unlike some other wallets, Exodus does not have open-source software that would allow third parties to check it for shortcomings. It doesn’t support multisignature transaction approvals, and it doesn’t offer two-factor authentication. Exodus helps individuals control their wealth independent of old banking models and free from institutional control. Now, Exodus & Trezor make advanced security easy – allowing anyone to safely manage digital assets. If you’re interested in finding out more about other cryptocurrency wallets, feel free to check out our guide how to choose the best cryptocurrency wallet.
Features
Exodus, on the other hand, is a desktop-based online wallet. It cannot be considered the most secure storage option on the market because of the lack of crucial security features like two-factor authentication. However, it is great to keep smaller sums of multiple coins at a single place while retaining all your private keys. Exodus is free to use while the Ledger Nano S is available on the market for under $100.
You can create a new wallet, or if you already have an Exodus, Phantom, or MetaMask wallet, you can restore it with its 12-word secret recovery phrase. The FTX Exchange app allows users to directly exchange supported crypto assets at market rates directly from within the wallet. The funds from the completed exchange are deposited directly into the user’s Exodus wallet. It certainly beats online wallets, and many desktop wallets as well. Exodus users keep full control of their private keys, which are generated and stored locally on the user’s device. If the device that holds a cryptocurrency wallet has a virus, malware, or is compromised, the security of the wallet is at risk.
Exodus Cryptocurrency Wallet Review
You can use your private keys to manage these unlisted assets. If any of these assets are formally supported by the wallet in the future, they will avira phantom vpn review show up on the list automatically. One of Jaxx’s founder is also the co-founder of Ethereum, which gives a significant edge to the wallet.
Supporting multiple assets might be a difficult task if the interface isn’t friendly enough to match your knowledge. That’s why, I would like to point Exodus’s design as the main reason for being such an attractive software for the users. Exodus is well known for its customer support, as it offers an extensive knowledge base of hundreds of articles and videos that explain usage, features, fees, and other aspects of the wallet. It even features a searchable FAQ section for common queries. If users can’t find suitable answers or have any trouble with their wallets, they can always reach out to the support team through email or social media channels. Support personnel on Exodus are also readily available 24/7, and replies are often quick.
Note that Exodus doesn’t offer not only a mobile version, but also no telephone support. Let’s resume the Exodus socials to check everything you’re interested in anywhere, anytime. On the one hand, you might exchange your coins to Bitcoin/Ethereum or another and send it to Coinbase for sale.
Full details about Exodus’ ratings
The most important thing you can do is back up your wallet by writing down your 12-word secret recovery phrase. If you have your 12-word phrase, you will always have access to your funds. Yes, Exodus is a self-custody wallet, also known as a non-custodial wallet. This means that you, and only you, have full access to and control over your 12-word secret recovery phrase and private keys.
- Now, Exodus & Trezor make advanced security easy – allowing anyone to safely manage digital assets.
- These spreads may vary due to the fact that markets have different levels of liquidity.
- Currently, selling crypto with Moonpay is supported on Exodus Web3 Wallet and Exodus Mobile.
- The use of smart contracts ensure that user funds remain protected, and the payout earnings are guaranteed and deposited automatically into the user’s wallet.
The shares were open for purchase by the public and were quickly sold out to investors who wanted to get involved and believe in the growth of Exodus as a company. Staying true to the Cryptocurrency ecosystem, Exodus released their shares to investors as “Exit” Tokens on the Algorand Blockchain. The Exit token acts as a digital representation of Exodus shares which users are able to hold directly within the Exodus wallet as they would with other crypto assets.
For maximum security, we recommend a multi-signature wallet like Copay or buying a hardware wallet like the Ledger. The security level isn’t the best when speaking of a higher amount of coins, because of the Internet’s vulnerabilities. There are no privacy or security features, such as multi-signature or additional layer for protection – two-factor authentication . If you’re still not a 100% sure that this is your wallet, I strongly recommend checking Jaxx. It is the most preferred wallet for 2019 and offers similar and additional features such as a mobile version. First of all, what makes Exodus one of the preferred cryptocurrency wallets on the market is its ease of use.
Public keys and transactions made with the wallet are fully visible on the blockchain and there are no features for hiding your transactional trail. While they do support privacy coins such asMonero andZcash , they are unable to perform fully shielded transactions for Zcash. If transaction privacy is a chief concern of yours then you may want to consider using the core wallets of ZCash, or transact in privacy coins such asMonero . Ever since the Exodus wallet was launched in 2015, it has become an exclusive alternative to the Bitcoin Core wallet. JP Richardson, who initially worked for the Bitcoin Core team as a developer, wanted to create another Bitcoin wallet easier to work with and also implement later more assets.
How do I download and install Exodus?
Even if you’re just starting out with Bitcoin or cryptocurrencies you would still be able to use this wallet effortlessly. Exodus is the kind of product you “fall in love with” the first time you use it, and that’s quite rare in the cryptocurrency world. Beginners in cryptocurrency might not be confident with setting the correct network fees for transactions. The Exodus wallet is a relatively new software wallet. It was created by JP Richardson and Daniel Castagnoli. Richardson has written the code for many cryptocurrency products previously, and Castagnoli has worked as a designer for huge companies like Apple, BMW, and Nike.
Where Exodus falls short
Once your wallet is not empty anymore, go to the backup tab. Bear in mind, that it is clickable only if you have something in Exodus . Now, once in the backup menu, you will be asked to create a strong password.
Monitor market movements on the go
I love Exodus wallet’s customer support options and the fact that the wallet lets you use multiple cryptocurrencies. The built-in access to the Shapeshift exchange is also great for those who want to try trading, but don’t want to risk leaving funds on Bittrex, Kraken, or a similar centralized service. Exodus can’t access your 12-word secret recovery phrase or your private keys.
If any problem occurs, there are community and help desks, which can help you. The troubleshooting section lists the most common issues user ever experienced, which is very useful especially for newbies. Don’t forget you can always ask the community in trade bitcoin on gdax their direct chat channel. All I want to ask you to keep in mind is to choose the right package from the download official page, depending on your operating system. Let me take care for everything else – read the configuration and follow each step.