Exodus is a multi-currency software wallet developed by Daniel Castagnoli and JP Richardson of Exodus Movement Inc. in 2015. The wallet is available on both mobile and desktop platforms and boasts an intuitive user interface and experience.
The creators have placed a premium on the user experience and interface, which is evident. It is one of the most aesthetically beautiful and user-friendly wallets available.
The wallet can be downloaded through the wallet’s official website or the app store. It securely stores your private keys on the device, ensuring an increased level of security. Additionally, it is a lightweight wallet, meaning that it does not download the complete blockchain to your device.
Exodus is compatible with a wide variety of devices and operating systems, including iOS, Android, Linux, Windows, and macOS. One of the best features of Exodus is the ability to connect your mobile and desktop wallets, which gives you additional freedom and control.
Exodus is also compatible with TREZOR wallets, allowing you to experience the minimalistic style and simple interface of Exodus while maintaining the high level of protection provided by a cold wallet.
Exodus: How Does It Work?
As previously said, Exodus features a very elegant yet effective interface comprised of six components.
- Wallet: This is where certain cryptocurrencies and digital assets can be received or sent.
- Portfolio: This area provides a visual representation of all the digital currencies you own, as well as price graphs.
- Exchange: This wallet includes an integrated cryptocurrency exchange that enables you to trade coins directly within the wallet.
- Backup: This is the place where you can recover the seed phrase or password for your wallet.
- Settings: This allows you to customize the wallet’s interface and security settings according to your preferences.
- Help: A knowledge base with frequently asked questions, videos, and customer help by email or Slack instant messaging.
To use the wallet, download it from the official website and verify that the download is valid. After downloading the wallet, follow the on-screen instructions to install it. After installation, simply click on the wallet area in the top left-hand corner of the interface and tap on the digital coin you wish to add to the wallet. Then click “receive” to confirm the transfer.
Exodus Security
Due to the fact that software wallets can be accessed when the device is online, they are intrinsically less secure than their hardware counterparts.
Exodus, on the other hand, includes a range of security mechanisms, including password and 12-word seed phrase protection. Additionally, the wallet includes an automated lock that unlocks after a preset length.
Additionally, you can validate the legitimacy of your Exodus wallet download by following the steps outlined on the official website.
This assures that you are using an official version of the software wallet rather than a counterfeit lookalike that may be used to hack into both your wallet and the device in order to gain access to the coins.
Additionally, you are not required to disclose any personal information, and the company does not retain your private keys, which are stored on your devices.
The one slight shortcoming here is that Exodus is not entirely open-source, with portions of the codebase remaining closed source.
Compatibility with Cryptocurrencies
Exodus supports the full range of over 100 cryptocurrencies, digital assets, and tokens. Ethereum, Bitcoin, Litecoin, Ripple, Binance Coin, Bitcoin Cash, EOS, Tether, Dash, and Stellar are just a few of the most popular cryptocurrencies.
Summary
Exodus Wallet is an excellent choice for folks who are new to cryptocurrency trading. It is moderately safe, supports all popular cryptocurrencies and tokens, and boasts the finest user interface and experience of any software or even hardware wallet.
Additionally, it enables you to trade cryptocurrencies without leaving the wallet and features an attractive dashboard for managing your digital assets.
