Exodus Movement INC. was founded in 2015 by JP Richardson and Daniel Castagnoli to store digital currency securely.
The multi-currency wallet supports more than 100 cryptocurrencies. It was once only accessible as a desktop version, but the Exodus mobile app is now available for Android and iOS devices.
The wallet accepts a wide range of cryptocurrencies, including Bitcoin. Without requiring any registration, one can use the wallet to swap bitcoin.
However, it is important to remember that Exodus uses Simplified Payment Verification as a light wallet.
This means it does not download whole blockchains but instead uses many servers to track wallet balances.
More information on the Exodus wallet and how to swap cryptocurrency is available. So, let’s begin with a thorough Exodus wallet review!
|Trading Platform||Exodus Wallet Review – Is It Safe?|
|Trading Platforms||Web and mobile|
Type Of Wallet
Exodus is a non-custodial wallet that provides excellent service and broad control over crypto assets.
It does not directly handle or take custody of your wallet, but it does give you complete control over it.
One can use it with a wide range of crypto assets. Exodus supports TREZOR wallets, which offer a slick UI and strong security for a hardware wallet.
Exodus is also a lightweight wallet, which means it does not download complete blockchains to the device, allowing for a far speedier setup.
Exodus Wallet is also responsive and convenient as a result of this. Furthermore, mobile wallet and desktop wallet versions are available, allowing the platform to be utilized on any device, including Windows, Mac OS, Linux, Android, and iOS.
The crypto trading assets tool in the Exodus wallet works exceptionally well and is straightforward to use for both novices and expert users.
- It is very safe and fast.
- It is reliable.
- It is easy to use and understand.
The Exodus security level is adequate but not exceptional. The first security stage entails a user-generated password that is necessary to access the wallet.
The second phase asks you to create a 12-word seed phrase that will allow you to retrieve your wallet if the device fails or is stolen.
It is critical to saving this phrase somewhere other than your smartphone or computer.
However, Exodus security also has significant limitations since no one wants to lose their crypto assets from their wallets. Exodus Wallet does not provide any high-level security against hackers.
Because the site lacks two-factor authentication, it is extremely easy to hack using keyloggers and steal your logins, gaining access to your money.
Additionally, Exodus lacks a multi-signature functionality. The multi-signature address adds another degree of protection to the wallet by requiring you to sign the transaction before being broadcast onto a crypto network.
Moreover, in most cases, A multi-signature wallet on a laptop and a phone are widespread. However, Exodus does not provide a multi-signature wallet.
Receiving And Sending Cryptocurrency
An empty Exodus wallet does not lock by default. However, after you’ve put a deposit in the wallet, the process of protecting it begins immediately.
Go to the Wallet page and then choose the coin you wish to receive to receive cryptocurrencies.
If you’re interested, you may also check a price chart for the selected cryptocurrency on this page; otherwise, simply click and copy the receiving address for your wallet.
You may also email this address and snap a screenshot of the QR code, which the recipient can then scan with their smartphone.
Exodus will prompt you to password secure your wallet when you receive your first deposit.
The software recommends utilizing a password manager app for this reason in its description and tutorials, which we feel is sound advice.
Exodus will also offer a 12-word phrase to assist you in recovering your password.
Again, the creators recommend writing this phrase down on paper for offline storage rather than storing it on your computer.
The method of sending cryptocurrency from your Exodus wallet is likewise relatively simple.
Simply click the send button and input the public wallet address to which you wish to send the cryptocurrency.
Alternatively, you may hover over the QR code option to scan the QR code of the receiver from either the camera or your screen.
What differentiates it from others?
Some points differentiate it from all others.
- It has an easy-to-use interface.
- It will give support to over 150 cryptocurrencies.
- It will give you links to exchanges.
Our experience with the product
I have been using it as a cryptocurrency wallet, and I have to say that it is one of the easiest options.
I do not have to go through any complicated processes. It has also helped me a lot to maintain my wallet and to get profits for keeping my cryptocurrency.
Even if I am dealing with more than one cryptocurrency, I can store it in my Exodus wallet.
Exodus Wallet Comparison
Let’s compare it with other companies.
Exodus Wallet Review vs. Coinbase Wallet
If you are into selling and buying cryptocurrency, you should go for coin base wallet.
This is because it is one of the most popular buying and selling cryptocurrencies.
You can also go for Exodus Wallet, as it is a multi-asset wallet that can be used on many devices.
Exodus Wallet Review vs. MyEtherWallet
MyEtherWallet is one of the open-source options available as a client-side tool. You can use it to get in contact with blockchain directly.
Exodus Wallet is a free platform for cryptocurrency where you can also earn profits for holding up to your cryptocurrency.
Exodus Wallet Review vs. Trust Wallet
Trust Wallet Is the safest and most reliable Ethereum mobile wallet. It is also a Dapp Browser which is very easy to use and operate.
On the other hand, Exodus Wallet is also very convenient to use, and it is considered the best because of its features.
It will also make it very easy for you to integrate with Deli platforms.
Exodus will provide the required information in both types of transactions to ensure maximum transparency.
For example, while transferring and receiving cryptocurrency, the wallet will display the transfer costs at the bottom of the screen.
Similarly, when you exchange two cryptocurrencies, it will indicate the value of crypto that gets deducted from your wallet as well as the amount of crypto that gets added.
Every time you use Exodus to convert cryptocurrency, Exodus earns a fee. You can find more information regarding the costs in Exodus’ detailed help section.
The area has many articles under appropriate topics such as Getting Started, Buying Crypto, Exchange, etc.
There is also a search box to assist you in rapidly finding information. If no one answers your question you can also submit a message to the support team.
It’s vital to remember that Exodus does not offer phone help; therefore, if you see a phone number given online, it is most likely supplied by a fraudster.
To summarize the Exodus Wallet review, it is appropriate to say that it’s wallet is one of the top hot wallets, particularly for novices.
Because of its ease of use has been the user’s first and best option compared to alternative wallets.
The appealing design of the straightforward interface enables users to transmit, sell, and purchase cryptocurrencies in tiny quantities.
One can do it without requiring a lengthy procedure, making it the finest cryptocurrency wallet.
It offers little benefit to expert cryptocurrency users because bespoke fees are presently limited to Bitcoin and, more crucially, because the platform focuses on the user crypto experience rather than security.
This makes the wallet less safe for people who wish to store large sums of money in their software wallets.
Overall, while Exodus does not aim to delight users of all skill levels, it is specifically created for newbies who want to acquire Bitcoin and other coins without any bother from their wallets.
What kind of safety does Exodus Wallet offer?
It provides a somewhat safe bitcoin wallet for everyday usage. On the other hand, an online wallet is never as secure as digital cash held in cold storage, such as a paper wallet. Exodus desktop and mobile wallets also lack numerous essential security measures, making them less safe than other, more complex wallets. As a result, storing substantial sums of cryptocurrency on this platform is not advised.
Does Exodus charges commission with transactions?
Exodus levies transaction fees for each payment activity compared to other crypto wallets. They pay fee to the blockchain network (Ethereum, Bitcoin, Litecoin, etc.). As a result, you are not paying any transaction fees to Exodus. The platform prioritizes dependability and speed over low pricing. One can see the network costs at the bottom of the Wallet app before you transmit. You can adjust the network fees in response to changes in the blockchain network.