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Exodus wallets are non-custodial wallets designed to support all major cryptocurrencies, launched in 2016, it has created buzz in the crypto market.
It is a free-to-use, easily accessible cryptocurrency wallet that provides safe storage for crypto tokens, coins from exchanges, and NFTs from marketplaces. It is a hot wallet that is connected to the internet.
Detailed Understanding of Exodus Wallet
It is a desktop-based digital asset management system that enables users to store, manage, and exchange cryptocurrencies. It can be downloaded for free on Windows, MacOS, and Linux systems.
J.P. Richardson and Daniel Castagnoli and entrepreneurs created the Exodus wallet in mid-2015 and officially launched it in 2016. It is considered one of the most popular, user-friendly digital asset management platforms, supported by its easy interface and simple design.
It currently supports over 200 cryptocurrencies and is available for desktop and mobile devices. All beginners and experienced traders can comfortably use this application.
This wallet is nicely designed, and its pleasant features are helping to attract more users. Its numerous features allow users to stake assets directly within the wallet to earn passive income. Users are allowed to exchange cryptos within the wallet. It currently supports thousands of assets, allowing instant exchange through the integration feature. It supports the swapping of over 100 digital currencies.
The features suggest that the coins never have to leave the safety and security of users’ wallets.
Characteristics of Exodus Wallet
- It currently provides support for more than 225 different kinds of cryptocurrency assets.
- It fully integrates with the FTX crypto exchange, allowing users to trade directly through their wallet.
- It has a mobile app allows users to manage their assets at their fingertips.
- It can buy cryptocurrencies for three major fiat currencies: the U.S. dollar, the euro, and the British pound.
- It enables customer support 24 hours a day.
The most dignified feature of Exodus Wallet is its customer support. To provide continuous support, the company makes use of:
Chatbot
A user can access the chatbot with the help of the chatbot icon on the homepage. It is available for easy navigation. A user can search for it through help documents or speak to a representative.
This image has a chatbot icon on the right, which can be used to ask questions
Discord
It is Exodus’ official channel, with more than 11,000 members with whom users can connect and resolve their queries.
It is an active community where users or members can post their technical issues and get them resolved. It also features requests and crypto-related content.
It also made available an exclusive collection of all the support documents under the “support” tab, accessible through the homepage menu. It provides general education on blockchain topics in Spanish and English.
Steps to get started with Exodus wallet
A user needs to get familiar with the assets supported by the Exodus wallet before getting started. This article will guide users through the basics of desktop installation, and the installation method is similar to that of iOS and Android applications.
Step 1: The first step is to download the Exodus wallet from the official website, the icon shown in the above image, which is available for Windows, Mac, and Linux.
Step 2: The user must choose the appropriate file for installation on the operating system. It does not require users to fill in their full name, email address, and country of residence. That is, it does not require a Know-your-customer (KYC) process.
Step 3: On the successful completion of installation, the Exodus wallet app will pop up on their desktop, as shown in the picture below
Step 4: They need to secure their wallet, which is not part of the installation process. To complete the security step, they must click on the settings icon to set up the settings.
Step 5: To create a password, the user must click either the security or backup tab. A user is required to choose a strong password to protect their account.
Point to Remember: Users are advised not to lose or forget this password because Exodus wallet can only be accessed through this password in the future.
Step 6: The Exodus wallet can automatically generate custom recovery phrases chronologically from one to twelve. The user will need to hover their mouse to unveil each phrase.
Point to Remember: These phrases are important because they will be required to access their Exodus wallet if they lose access or reinstall the program on their computer or another device.
Step 7: It stores users’ recovery phrases or private keys in a safe place because they cannot be recovered if forgotten or lost.
Step 8: A user needs to verify their recovery phrase. Exodus can randomly ask users which word comes from a specific number to confirm it.
Step 9: Once a user correctly enters the numbers, click on the confirm words.
After completing all these steps, the Exodus wallet can be accessed and used to store, send, and receive cryptocurrencies.
Conclusion: Reviews for Exodus Wallet
It is suitable for beginners and experienced users who have small and moderate amounts of cryptocurrencies to store. It has become a favorite choice among crypto enthusiasts because of its beautiful design and ease of use.
Its additional built-in exchange makes it a more suitable and versatile wallet for its users, as it facilitates quick trades and manages their cryptocurrency portfolio. Moreover, it does not charge excessive transactional fees or require sending funds to a centralized exchange.
It is a software wallet and a hot wallet for users whose devices are connected to the internet 24*7. It reduces its security compared to that of a hardware wallet, so users are advised to follow reasonable security procedures for their PC and online life, then there are no concerns.
FAQs
Is Exodus a trustworthy wallet?
Yes, it is a trustworthy wallet, as it is a well-established, reputable, and secure crypto wallet.
What are the charges applicable to the Exodus wallet?
The downloading, sending, and receiving of crypto is entirely free for its users.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
