Note:
The amount field will be pre-filled with your maximum balance amount, so change it if needed. You can also change “Receive Amount” as desired.
Learn This Fact Before Downloading Exodus Wallet
Updated: May 01, 2024
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When you add money to your crypto wallet, it probably hits you at least once if your hard-earned money is fully secured. At the same time, you don’t want to deal with unnecessary jargon and complicated blockchain tech just to do a little crypto investing.
Exodus might be an answer to both your problems Out of many online wallet software, Exodus is a multi-currency wallet that is an entry-level wallet with an easy walk through, especially for beginners who have just started investing their funds into the crypto market.
Now even though easy of access is taken care of, security is the big one you are more concerned about.
Obviously, When you use Exodus to store and trade coins, you are essentially entrusting your assets to the company. So, it's essential that you know how this wallet performs when it comes to safety and ease of use.
In this review guide of the Exodus wallet, we'll walk you through the entirety of if this is a reliable wallet for long-term storage. We will help answer questions like: Is it safe? How easy is it to use? What's the overall user experience?
Ergo, you must determine some facts before you scrutinize with Exodus Wallet review(s) and that shall be crucial for you before you head to this simple yet popular cryptocurrency wallet. Also, we will be giving our honest reviews on how Exodus shields your crypto assets without leaving you in a hornet's nest.
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Learn This Fact Before Downloading Exodus Wallet
Check the Exodus wallet reviews considering the variable facts and features of Exodus wallet.
Safety |
85% |
Usability |
100% |
Best for |
Multi-currency operations |
Exodus Crypto Wallet Profile
Name |
Exodus Wallet |
Website |
|
Supported Crypto Assets |
As mentioned earlier, Exodus is a multi-currency wallet. That means that it supports many cryptocurrencies. It currently supports about 70 cryptocurrencies and 33 ERC20 tokens (On desktop). Mobile client supports 35 cryptocurrency and no ERC20 tokens. The list of supported coins is long and includes: |
Web 3 Support (dApps, NFTs) |
Yes |
Ethereum token support |
Yes |
Web Wallet |
Yes |
Mobile App |
Yes |
Cold Storage |
Yes |
Private Key Storage |
Exodus can not be explained without its super safety software that accomplishes your trust with this online crypto assets wallet. With the use of private keys, your Exodus Crypto Wallet becomes the safest. It is the thing to keep in mind to keep your private keys private to control your currency control in your hands. |
Linked Exchanges |
Hot Wallet |
Fees |
It is completely free to use, you do not have to pay for transactions at all. However, you will have to pay the network fees. |
Customer Support Channels |
Exodus Offers 254/7 support. You shall contact them directly on the below given details: |
What is an Exodus Wallet?
Exodus is one of the world’s first multi-cryptocurrency desktop wallets. It is a free to use, open-source cryptocurrency wallet which allows you to not only store but also exchange and buy various cryptocurrencies without having to rely on any third party services.
The Exodus wallet was founded by JP Richardson and Daniel Castagnoli in July 2016. Their vision was to create an easy-to-use platform for cryptocurrency investors. It’s not just a simple wallet; it’s the new identity for users on the blockchain. Exodus will allow you to secure all your blockchain assets with a password while also backing up your account so you don’t lose your money.
Supported Cryptocurrency On Exodus:
The Exodus wallet is available on Windows, Mac and Linux operating systems. As well as desktop, there is also an Android version available for mobile users. It supports more than 100+ cryptocurrencies, including popular ones like Bitcoin, Ethereum, Litecoin and Monero and this makes Exodus a good wallet.
Advantages And Disadvantages Of Exodus Wallet:
However it is the most popular wallet these days among several cryptocurrency users yet, there are some pros and cons of this wallet.
| Advantages of Exodus Wallet | Disadvantages of Exodus Wallet |
|---|---|
Multicurrency Wallet: You can easily manage your crypto assets with live charts inside the wallet. |
A risk of hacking: Because it is an online wallet, it is possible that hackers could gain access to your account if they were able to break into the security system of the website where your wallet is stored. |
In-app Exchange: The wallet has an inbuilt exchange that allows users to exchange supported coins at the best market rate without leaving the app. |
It only supports a few cryptocurrencies. Exodus Wallet is also not open source and its code is not available to the public for review. |
Security: The Exodus wallet is not an open source meaning its code has not been audited by any third party security experts which increases the risk for users. |
|
Easy to Use: Exodus wallet is a desktop wallet that has been designed for use by the average cryptocurrency user. It aims to offer a simple solution for anyone who wants to manage their crypto portfolio. |
Is Exodus Wallet Safe?
After researching on the web and listening to the community, we found that most people are actually happy with Exodus wallet because it's beautiful design and easy to use interface. It is one of the first wallets to integrate ShapeShift to perform direct exchanges between different cryptocurrencies. It has an inbuilt portfolio that helps you keep a track of your investments and also shows the real-time value of your holdings.
The other great features of Exodus cryptocurrency wallet are that it has high-level security for your currency control. The tool itself can not check for your passwords, or any sensitive data hence, there are less chances of an account stealing. Therefore, this cryptocurrency wallet has the most secure system for your digital currency.
Exodus Private Key Storage:
The "private key" is what unlocks an Exodus address. The owner of any Exodus address can spend the funds that have been sent to it by using its private key, which acts like a password.
There are no restrictions on where your private key comes from: you could make it up, use a true random number generator, or steal it from someone else. However, if you make it up, your bitcoins will be lost forever; if you use a true random number generator there's a chance that your private key will be too weak and some hacker can guess it; and if you steal someone else's private key they can take all the money out of that address. This means that you need to ensure that your private key is as secure as possible.
Importing your private key is no different than exporting it. Your private keys are created with a 12 word phrase that turns into seed in the algorithm of cryptocurrencies and works like the head-key and from the head key there you generate numerous keys to secure your account.
Now, for the metadata system no keys are sorted on any storage or servers of Exodus wallet. Exodus has a non-custodial wallet as it has no risk of your private and sensitive data loss. All your data is secure with private keys.
Does Exodus Support Cold Storage
Yes, Exodus supports cold storage. Exodus supports cold storage, meaning that your crypto currencies are stored offline. This offers extra protection against theft or loss because your funds aren't accessible from the internet.
Cold storage is a method of storing your cryptocurrency offline. Exodus supports both cold and hot storage. Cold Storage is a term used to describe a wallet that is completely offline and never touches the internet. For example, a piece of paper with your private key written on it is considered cold storage because it can't be hacked online.
Exodus supports cold storage by allowing you to keep your 12 word passphrase hidden from prying eyes (your eyes are the only ones that should ever see them). In order to get your 12 word passphrase, Exodus needs to ask you for your password as a way to protect these words from being seen by anyone else. However, once you have entered in your password, Exodus never transmits or stores this information anywhere, not even in an encrypted format, so no one can find out what it is.
Does Exodus Have Security Compromise
The cryptocurrency community has been buzzing about a recent security incident involving the popular multi-currency Exodus desktop wallet. The company has confirmed that it has suffered a DNS attack, which led to users being redirected to phishing sites when trying to use the wallet.
There’s no evidence that any users lost funds as a result of this attack, but it’s important for cryptocurrency users to be aware of the risks involved in using third party software wallets and to take steps to reduce their exposure.
But In April, the company published an article detailing a new feature they had developed which was designed to speed up the process of converting between currencies by pre-filling values taken from ShapeShift’s API, thus saving time and reducing user error.
This new feature became compromised when attackers managed to gain control of ShapeShift’s DNS server, which resulted in Exodus being directed towards rogue servers when attempting lookups. As such, malicious code was executed on user devices when they attempted transactions using the built-in exchange function of Exodus.
Exodus Features Review
There are many things that make Exodus stand out from other blockchain wallets. Let’s take a closer look at each of the features below.
1
Exodus is a light wallet which means that you never have to download or sync the entire blockchain to your computer. This makes Exodus lightning fast to set up and use.
2
Exodus offers an easy-to-use, intuitive user interface that is great for beginners. This means that even if you don’t understand how blockchain technology works, you can easily buy and store your cryptocurrency using Exodus’ simple dashboard.
3
Exodus is available on Windows, Mac, and Linux desktops, as well as in mobile applications for Android and iOS devices. The mobile version of Exodus currently supports Bitcoin, Ethereum, Litecoin, Dash, Golem, and Augur.
4
Backup & Security Features:
- When you first install the Exodus wallet, you’ll be asked to create a secure password. If you forget your password, backing up your wallet with a 12-word phrase will let you regain access to your money.
- It’s also important to note that Exodus doesn’t store any of its users’ private keys on its servers — they are all stored locally on your computer.
5
The software was designed from the ground up to support multiple cryptocurrencies right out of the box, which means there's no need for users to install extra add-ons or plug-ins. This ease of use means that even less experienced users can get started with Exodus right away.
How to Download and Setup Exodus Wallet?
Setting Up Exodus Wallet is easy. All you have to do is visit the official website, download the wallet and install it on your computer or laptop. Every platform, whether Windows, Mac OS, Linux or Android has different installation files available for download.
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Navigate to the Exodus website and click on “Download”.
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Go to your downloads folder and open up the installer file you just downloaded. The installation wizard will be opened up. Follow the instructions in the wizard to install Exodus on your computer.
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After installing Exodus, open up the app and look for the currency adding option.
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You can add the multiple cryptocurrencies you want, by going to your wallet and receiving.
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It will give you a QR code to scan and by using it you can ask for a crypto token from other hardware wallets to your Exodus wallet.
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Now to create your private key, head to the private keys option there.
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Set your 12-word phrase private key.
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Take note of the 12-word phrase (seed phrase) and keep it somewhere safe. This phrase can be used to recover your account or access your wallet from other devices in case something happens to your current device.
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Now, follow the onscreen instructions afterward.
How To Use Exodus
Exodus also offers a lot of captivating features such as a built-in exchange that allows you to trade between assets from within the wallet, and an attractive user interface that uses interactive graphics to provide information.
You can use Exodus to secure, manage, and exchange your favorite cryptocurrencies like Bitcoin, Ethereum, Ripple, and more from a minimalistic, easy-to-use wallet that puts you in control of your wealth. Manage your wealth in a blockchain wallet that combines solid engineering and beautiful design in the form of live charts that update in real-time. Buy and sell one digital asset for another without having to go through centralized exchanges.
How Do I Send Crypto Out of Exodus
To send an Exodus transaction, please follow the steps below:
1
Open your Exodus wallet.
2
Click on the Wallet menu item.
3
Select the crypto asset from the drop-down menu you'd like to send out of Exodus, then click Send.
4
In the Address field, paste in the wallet address you'd like to send to, or type it manually.
5
Enter the amount you'd like to send and click Continue.
6
If prompted, enter your password and/or 2-Factor Authentication code and click Continue or Submit.
How Do I Exchange Crypto in Exodus
If you are using a desktop wallet, please make sure that you have the latest version of Exodus installed.
You can exchange crypto in Exodus by following the steps below:
1
Click on the “Wallet” icon at the top left corner of your screen.
Wallet Icon
2
Select the asset to exchange from the drop-down menu (eg. BTC, ETH, LTC).
3
The assets you have stored in Exodus will appear under the “Assets” section. Click on the “Exchange” button next to the asset you want to exchange.
4
A list of assets that you can exchange for will appear. Select the asset you want to receive in return for your original asset (eg. ETH for BTC).
A list of assets
5
Enter the amount of original asset that you want to exchange on the “Amount” field and click on the “Exchange” button.
6
A pop-up window will appear with a summary of your transaction. Click on the “Confirm Exchange” button.
Exodus Platforms
Exodus currently supports the following platforms:
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Apple iOS 10.0 or later on devices running the A7 chip or newer (all iPhone 6s and newer, all iPad Air 2 and iPad Pro models, etc.)
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Android 5.0 (Lollipop) or later.
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Microsoft Windows 7 SP1 64-bit or later.
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MacOS 10.11 El Capitan or newer.
Where Can I Trade Crypto?
Coinbase is widely considered to be the most beginner-friendly brokerage for buying and selling cryptocurrencies. With a wide variety of payment methods, low fees and an easy-to-use interface, it’s no wonder that Coinbase is a popular choice among those looking to get into cryptocurrency trading.
The platform is also a well-respected brokerage and wallet service that appeals to both beginner and experienced cryptocurrency traders.This trading platform offers customers the ability to trade Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin and other cryptocurrencies.
Coinbase fees are between 1.49% and 3.99% depending on your payment method, location and whether you are buying or selling digital currencies. However, The platform does not charge fees for transferring cryptocurrencies from one wallet to another within the network, but it does charge for converting digital currency between different wallets.
In May 2016 Coinbase introduced instant purchases of Bitcoin when paying with a debit card. This feature dramatically reduced the time it takes to buy digital currencies on Coinbase.
Later in 2017 Coinbase introduced its Vault feature which provides users an added level of security by requiring multiple approvals before funds can be withdrawn from the account.
FAQs
How Much Does It Cost?
Exodus is free to download and use. All you need to do is download the application on your desktop from the official website and install it.
Why Should I Choose Exodus?
There are many reasons why you should choose Exodus. We've listed some of the top features of our wallet below for you to consider.
- Security - Exodus uses a simplified backup process that makes it easy to keep your funds safe. If you lose your computer or are worried about security, you can always recover your funds by importing the private keys into a different wallet.
- Recovery - The recovery process simplifies the process of restoring your wallet onto a new device. As an example, if your phone is lost, broken or stolen, you can easily restore your balance onto a new device.
- No Registration Or Sign-Up - A great feature about Exodus is that no personal information is required for you to download and use the wallet! Unlike many other wallets currently in the market which require some sort of registration or sign-in.
What if I lose my 12 word secret phrase? How do I recover it?
Don’t worry! The secret phrase is used to encrypt a file with all of your wallet data. You can recover your 12 word secret phrase by going to the Wallet screen, tapping "Settings" in the top right, and then tapping "Recover Wallet". From there, you will be prompted to enter your email address associated with your Blockchain wallet. You will then receive an email with a link you must click to complete the recovery process.
What are the main features of Exodus?
Exodus' main features include a built-in exchange that enables users to instantly trade between assets, an intuitive interface that adjusts based on the size of your screen, one-click email recovery and backup seed keys, support for Trezor hardware wallets, and ShapeShift integration for rapid exchanges between supported assets.
Glossary for novice traders
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1
Cryptocurrency
Cryptocurrency is a type of digital or virtual currency that relies on cryptography for security. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies operate on decentralized networks, typically based on blockchain technology.
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2
Broker
A broker is a legal entity or individual that performs as an intermediary when making trades in the financial markets. Private investors cannot trade without a broker, since only brokers can execute trades on the exchanges.
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3
Bitcoin
Bitcoin is a decentralized digital cryptocurrency that was created in 2009 by an anonymous individual or group using the pseudonym Satoshi Nakamoto. It operates on a technology called blockchain, which is a distributed ledger that records all transactions across a network of computers.
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4
Ethereum
Ethereum is a decentralized blockchain platform and cryptocurrency that was proposed by Vitalik Buterin in late 2013 and development began in early 2014. It was designed as a versatile platform for creating decentralized applications (DApps) and smart contracts.
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5
Trading
Trading involves the act of buying and selling financial assets like stocks, currencies, or commodities with the intention of profiting from market price fluctuations. Traders employ various strategies, analysis techniques, and risk management practices to make informed decisions and optimize their chances of success in the financial markets.
Team that worked on the article
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Contributor
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Dr. BJ Johnson
Developmental English Editor
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito
Cryptocurrency and stock expert
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).