Exodus Crypto wallet is an Android and iOS mobile application which has 150+ coins supported, including Bitcoin and Ethereum Yes! Customers may stake assets and receive interest on their cryptocurrency holdings. Consumer Assistance ‘Exodus’ provides email, online chat, and 24/7 customer service in addition to a support website. Inside the Exodus App Features, users may buy, sell, exchange, and convert assets. Device Compatibility? Yes, A Full Node or SPV Exodus makes use of streamlined payment verification (SVP).
Pros
Simple user interface: The Exodus user interface is simple to use and comprehend, thus it should seem simple to most people.
Exodus cold wallet presently allows for the exchange of more than 150 cryptocurrencies, and this number is steadily rising.
Linkages between exchanges and Defi are seamless thanks to Exodus, which makes integrating with Defi systems simple.
Cons Explanation
Lack of custom network costs for altcoins: At the moment, only Bitcoin and Ethereum transactions may use custom fees.
Features Of The Exodus Wallet
More than 150 different currencies are supported by Exodus over seven different blockchains. On the internal exchange of Exodus, users may trade currencies as well as purchase and sell them. Additionally, users may access the exchange directly from the Exodus app, making it easier to move assets between the two, thanks to Exodus 7 cooperation with FTX.
Exodus just included the Lightning Network as a payment method, which users will also discover. The Lightning Network, in a nutshell, is a payment mechanism that handles transactions apart from the Bitcoin network. Exodus customers who utilize this functionality will therefore experience quicker and more affordable Bitcoin (BTC) transactions.
The ability to purchase, sell, transmit, and receive Non Fungible Tokens (NFT) inside the Exodus NFT Marketplace is another new addition. Through its collaboration with Magic Eden, this function is accessible on both the app’s desktop and mobile editions. Exodus allows NFT transactions on the Solana network, which users should be aware of. As a result, to execute an NFT transaction successfully, a minimum reserve of 0.01 SOL will be needed.
Holders of wallets have the option to stake assets and earn interest on their holdings in terms of producing money. By doing this, users may add assets to the app, assign assets they want to stake, and earn passive income as a consequence.
This feature is available for ALGO, ADA, ATOM, ONT/ONG, SOL, XTZ, and VET/VTHO assets, each of which has unique stake-related parameters. Exodus Crypto Wallet also keeps a fairly regular cadence for software updates, releasing one every two weeks.
The top 5 exodus wallet supported coins are: Bitcoin, Ethereum, Tether, Binace Coin, and Terra
Tether Binace Coin Terra’s Security
The fact that Exodus Cold wallet does not now have access to your assets or private keys is a crucial security point to be made clear. All storage and encryption for the wallet take place on the user’s hard drive, not the Exodus platform, thanks to its non-custodial architecture. Users provide a password to access their account after the platform has been downloaded.
Exodus and Trezor have teamed together to make it possible for customers to control their assets via the Trezor hardware wallet if they choose to secure their holdings offline. Users may transmit, swap, and receive assets while keeping their private keys and assets offline using the hardware wallet linked to Exodus. It’s important to know that Trezor supports a large number of assets.
Discretion and anonymity
Exodus crypto wallet actively supports its customers’ right to privacy and non-custodial rights. Users are not needed to register or provide personal information since it lacks Know Your Customer (KYC) regulations. On the platform, all transactions are anonymous, and Exodus creates a new wallet for each Bitcoin transaction. The advantage of this is that no personal information has to be disclosed to use the Exodus wallet.
Exodus neither collects personal information nor has access to your wallet. Each BTC transaction requires the construction of a new wallet, which increases security and makes it more difficult for hackers to follow your BTC transactions. However, you still have access to see every wallet address as a user.
Setup
The user must just download the platform to their desktop to begin the setup procedure, which is rather simple. The user doesn’t need to create an account to utilize the program, which runs locally on their computer. Similar steps are followed while using the mobile app, and scanning a QR code may sync both the desktop and mobile platforms.
The user is then requested to back up their account and given a secret 12-word recovery phrase, which they are advised to write down and keep safe. The recovery phrase may still be accessed/viewed by users by going to Settings, Backup, and selecting View Secret Phrase. When the user does this, they are shown a warning and asked to affirm that they understand the dangers of disclosing their secret word.
Exodus desktop wallet
The Exodus user interface is simple to use and easy to comprehend, so most people should find it easy to use. A clear representation of the portfolio balances is provided, and all supported assets have access to the most recent market data. The 24-hour change, portfolio age, maximum balance, and greatest and worst percentage changes are also available to users on an asset-by-asset basis for a specified period.
Additionally, the desktop version contains a function that enables users to estimate prospective earnings based on the value of the asset, the length of the stake, and the average payout rate (through sliding scales).
Exodus wallet Mobile Application
The procedure of downloading and utilizing the mobile app isn’t very simple. Following setup, consumers have the extremely practical option of syncing it to their desktop or even creating a new wallet. While Exodus has a great market share due to its simple mobile interface.
Consumer Assistance
Exodus provides live chat, email, and customer service options around-the-clock. The fact that there is no telephone option for contacting the business raises some concerns, but it is important to note that this is a pretty standard practice in the sector. Even yet, Exodus performs well when measured against rivals.
Exodus wallet Fees
The majority of bitcoin software businesses have a lot in common when it comes to price. For instance, it is accepted practice in the business for software wallets to be accessible and free to download, and for users to receive assets without paying a fee. However, all users of cryptocurrency wallets will have to pay a network fee when transferring assets. Exodus wallet maintains minimal costs by adhering to this common fee schedule.
Exodus does offer fee customization, which is also a standard practice in the business, although this function is presently only available on the Bitcoin and Ethereum networks. Users may activate this feature by going to the “Advanced Options” section of Exodus’ “Asset Menu” and selecting “Enable Custom Fees.” Users may access Exodus’ unique pricing interface by clicking the gear icon in the top left corner when they are ready to deliver an asset.
Exodus will provide a suggested charge, but users may select a unique fee using a sliding scale. Users should be aware that the suggested charge may fluctuate according to network traffic and/or congestion. Exodus will also remember a certain cost that users have specified. If users want to keep the transaction cost constant, there is no need to specify one.
How Can I Get This Exodus App That Supports Many Cryptocurrencies?
Multi-crypto wallets and single-crypto wallets are the two different kinds of cryptocurrency wallets. Exodus is a well-liked multi-cryptocurrency wallet, while Electrum is a well-liked Bitcoin-only wallet.
You just need to download a multi-crypto wallet if you want to learn how to construct a Bitcoin wallet that supports numerous cryptocurrencies. The Exodus multi-cryptocurrency wallet software for PC may be set up as follows:
How to download & install Exodus crypto Wallet
Step1 :
The Exodus crypto wallet is available for free download. Exodus offers a ton of amazing features while being free:
24/7 Client assistance Exchange between different cryptocurrencies Support for Trezor hardware wallet 100+ different coins are supported Earn prizes for staking on ADA and 5 other assets.
Install the Wallet in Step 2
It’s time to install the wallet after you’ve downloaded it. Making a password for your Bitcoin wallet is the first step. A password is crucial because it provides an extra degree of protection. For instance, if someone is using your computer and doesn’t know the password, they cannot access your Exodus wallet.
Write down the seed phrase in Step 3
Make duplicates by hand after writing the seed phrase down on paper.
Step 4: Access your wallet
The Exodus wallet will open after you’ve recorded the seed phrase and verified it.
Make sure you don’t forget your password since you’ll need to input it every time you access the Exodus wallet.
Install Exodus on your phone in step five.
You may download the Exodus crypto wallet on your smartphone as well. Android and the iPhone both support Exodus. You may sync wallet balances between your PC and mobile wallet after installing the Exodus wallet on your phone.
Conclusion
For both new and experienced cryptocurrency investors, Exodus crypto wallet is more than a feasible alternative. Both categories will undoubtedly be drawn to the diverse assortment of digital assets, simplicity of use, and self-custody. While more experienced traders will welcome the ability to stake assets and interface with Defi platforms, novice users will feel more secure knowing that there haven’t been any security breaches in the previous five years.
The visually pleasant user interface should provide new users some confidence while handling their digital assets. The platform’s instructional aspect, although there is one negative since it doesn’t take center stage. However, Exodus Support is a feature that offers a variety of articles and solutions to commonly asked concerns. Additionally, Exodus offers live customer service through email and online chat platforms around the clock.
Exodus is on track to keep expanding its library of supported files and applications at the rate at which it is updating its software. Exodus wallet is a great option for any cryptocurrency enthusiast, especially those who are just starting on their cryptocurrency adventure. Exodus is not, however, a wallet that will be soon outgrown as users gain more information.
FAQ
Is Exodus wallet hacked?
Since Exodus Wallet does not store any keys or asset information, the company has never been hacked. It is the blockchain that stores your assets, not Exodus.
is exodus a good wallet ?
Wallets such as Exodus make excellent choices for cryptocurrency enthusiasts of all levels, especially those beginning their crypto journeys in the early stages. While users gain a deeper understanding of Exodus, it won’t quickly outgrow itself.
is exodus wallet safe?
It is important to note that Exodus does not store any sensitive information about your wallet as a company. The information in your wallet is stored locally on your device, which means that the information in your wallet cannot be accessed, viewed, or controlled by us in any way.
