The Exodus wallet is a cryptocurrencies wallet which generated a lot of hype since its launched in 2016. Its well-designed wallet is attractive and packed with many features like the option to place funds directly into the wallet for passive earnings, and users can exchange cryptocurrency within the wallet.
Exodus wallet supports over 140 assets currently in development and supports additional assets in the pipeline. It also offers users the option to swap over 100 digital currency options.
Exchanging Assets Within Exodus Wallet
Although Exodus Wallet itself is not an exchange the wallet allows for transferring supported cryptocurrency between different app accounts through non-credit card providers, API exchanges that are used to exchange favorite assets without any KYC or other fees.
When you have coins in your bank account, you can simply go into the “exchange tab”.
Meaning Of Exodus
JP Richardson and Daniel Castagnoli started Exodus Movement INC. in 2015 to help protect digital currencies. Multicurrency wallets can support more than 200 cryptocurrencies. Originally available as an iPad app, Exodus mobile apps are now also available in Android and iOS.
This wallet supports an extensive number and varied altcoins. The wallet is able to exchange Bitcoins without registering. Exodus employs simplified payment verification as a lightweight wallet however this can easily be avoided.
What Kind Of A wallet Is Exodus?
The Exodus is a non-custodial wallet offering excellent help and greater control over the crypto currency. This wallet isn’t directly managing your money, but allows you total control over them.
The user is allowed to use various crypto assets on their website. Exodus supports TREZOR wallets, providing stylish interfaces with strong security as a hardware wallet.
Exodus also has a lite wallet meaning the blockchains can no longer be downloaded onto the system, making setup much quicker. It makes Exodus Wallet responsive and easy to use.
Ideal Exodus Wallet User
Exodus has been designed to be easily accessible for new users, yet robust and reliable for crypto enthusiasts, which makes it perfect for most mainstream crypto enthusiasts that are looking for an easy-to-use and beautiful wallet that provides numerous features.
It is even a good choice for anyone whose money is used by a variety of popular currencies as it offers support on almost 143 different crypto currencies and many more will be added soon. The Exodus desktop wallet currently has desktop versions for Windows, Linux OSX and Mac OS X.
Exodus Wallets’ Privacy
The Exodus wallet is completely anonymous because no data are required to use the wallet to download, install and use.
Exodus collects nothing from its customers and the keys of its customers remain entirely at their discretion. However, Exodus has no aims for anonymity.
All the data relating to the private keys of a wallet is fully hidden by the blockchain with no hidden transaction trails. Unlike other cryptocurrency companies, they do not support a secure transaction mechanism for Zcash.
Exodus Supported Coins
The Exodus supported limited cryptocurrencies in its original form but by 2021 it started supporting more than 45 cryptocurrencies and more are coming every day. Support for several currencies has always been an important feature on Exodus.
Exodus Shows extensive cryptocurrency support on their website Status Pages. It is actually possible to keep ERC-20 tokens in Exodus, even if they don’t appear. The problem is that no amount will appear on this unsupported ERC-20 coin on the Exodus account.
Creating A Wallet Backup
After installation of the wallet, users receive a 12-word re-coverage seed phrase which they can use to recover unless they lose or stolen the device they installed on.
The seed phrases must also be recorded so the user can save it. If you want to re-create a former Exodus wallet user can use the Restore-Wallet option on the device.
Exodus was a service that offered backup assistance via email, but that option can still work when creating an account before Exodus 19.2.1.
Is Exodus Safe?
It is impossible to review a new Exodus wallet without analyzing security and performance. Exodus provides a secure cryptocurrency wallet.
As with a wallet online, there is nothing as secure a wallet as transferring money to cold storage like a paper wallet.
This wallet is lacking features that makes it more vulnerable to hackers. Let us start out by discussing what Exodus’s security features do not.
Exodus Review Summary
Exodus is a simple to use multi-currency wallet which can be installed on both smartphones and tablets. This wallet is praised for simplicity of design and excellent service.
Unlike the original Ethereum network fees, Exodus has no unique network fee, which does not make the project open-source. I’ll explain this wallet to you.
Conclusion
Exodus wallet can be used by newcomers to crypto markets. This wallet is the easiest to use I have found, is easy to configure and does not require complicated features.
It has many functions which can be easily used without making a mistake — and it has also been echoed by users of Exodus.
Exodus wallet has a good support service and allows for use with a wide range of cryptocurrencies. It is also a useful feature in Shapeshift that is good for trying trading without risk to use Bittrex, Kraken, or any other centralized trading platform.