Exodus Wallet: How to Use, Fees, Is the Exodus Wallet Safe?

Exodus Wallet is a crypto wallet and was created by Daniel Castagnoli and JP Richardson. JP Richardson has written the code for a lot of cryptocurrency products.

While Daniel Castagnoli worked as a designer for big companies just like Nike, BMW, and Apple.

Exodus Wallet

Exodus Wallet has been created to be a user-friendly, multi-cryptocurrency wallet. You can also make use of so many different crypto assets with it.

Why was Exodus Wallet Created?

There are so many software wallets available already. And some of the competitors include Green Address, Jaxx, and Bread Wallet. After all these wallets, why exactly did the Exodus team decide to make another one?

Those who designed the Exodus wallet wanted to design a user-friendly wallet that could do basically everything a crypto user would want it to.

They hoped this would make the crypto experience very easy for people that are not used to making use of the technology.

Pros and Cons of the Exodus Wallet

Below are some of the advantages and disadvantages of the crypto wallet:

Pros:

  • Exodus Wallet has a customer support
  • It is very easy to use and access.
  • Built-in exchanges
  • It is a software-based wallet
  • Multiple cryptocurrency choices

Cons:

  • The fees of the crypto wallet can reportedly be quite high.
  • It is prone to security issues.

Exodus Wallet Fees

To process payments at all, exodus charges you for transaction fees. And what happens to these transaction fees? They send them to miners on the various blockchains and they alter based on the network though.

You can not set these fees manually. Since the company gives preference to speed, you can actually predict your transaction to be processed so fast anyway.

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Exodus also gets a part of the spreads on the main digital exchanges as revenue.

How to Create and Use an Exodus Wallet.

Creating and using an Exodus wallet is very easy and I have listed the steps to follow to guide you through:

  • To create an Exodus Wallet, the very first thing to do is to download the Exodus Wallet from the Google Play Store for Android users and the Apple App Store for iOS users.
  • Also, try checking the security certificate of the site you visit. To do that, look at the green text close to the website address. It will say “Secure” or the company’s name.
  • Now that you have downloaded the software, follow the rest onscreen instructions to install it.
  • Once you install it, open your wallet and click on the “wallet” tab on the left-hand side of the screen.
  • Then click on the cryptocurrency that you want to include in Exodus. Click “receive”.
  • You will be displayed with an address and a QR code too. Take note that this is your public wallet address. And this is what you share with anyone that wants to send you some crypto.
  • You can as well use it to send crypto from another wallet to your Exodus wallet.
  • Also, if you are sending crypto from another device that has got a QR code scanner, you can also make use of the QR code scanner to get the address.

How to send Crypto Using Exodus

To make use of your Exodus Wallet to send cryptocurrency, kindly follow the steps below:

  • Once you install the app, click on “wallet” at the left hand side.
  • Next is to choose the cryptocurrency you wish to send.
  • Now click “Send” in the center of the window.
  • Here, you will granted the option to scan a QR code by making use of the camera of your device or to input an address.
  • Next is to scan the QR or enter the address of the receiver in the section marked “send to…address”.
  • Now input the amount you wish to send.
  • Lastly, click “send” to send crypto.
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Is Exodus Wallet Secure?

Well, we cant really say if the crypto wallet is 100% secure. But all we can say is that the Exodus Wallet should be as safe as any software wallet can get. And the two major security features that the crypto wallet provides include:

  • Automatic wallet lock after a chosen period of time.
  • It offers password protection for your wallet.

Exodus also made it clear that it is vital to verify that you are downloading the Exodus Wallet from a legit source like their website. You can as well verify that your download is very authentic.

In all, make sure you download from a trusted site.

In addition to that, the crypto wallet does not need any registration, and also the company doesn’t have access to your personal information or key.