Exodus Wallet in Review – Cryptocurrency Storage Made Simple
Exodus Wallet Key Features & Benefits
- The Exodus cryptocurrency wallet is a multi-coin blockchain wallet app available on Windows, Mac, and Linux
- Exodus wallet supported coins include all top market cap cryptocurrencies, hundreds of altcoins, and all ETH ERC20 tokens
- The Exodus wallet app is designed to be easy to use, even for newcomers to the cryptocurrency market
Exodus is one of the world’s most popular cryptocurrency wallet applications.
For New Zealanders especially, it can be challenging learning how to store digital currency 100% safely. Many popular exchange and app wallets, effectively put coin private keys in the hands of overseas corporations like Coinbase. Thankfully, the Exodus wallet application changes this.
What is Exodus?
As a blockchain wallet app, the Exodus wallet works as a lite client with 11 top cryptocurrency blockchains. This means that Exodus connects live to Bitcoin and other coin networks, facilitating near instant transactions and always up to date coin price data. However, the Exodus wallet is also widely regarded as the world’s easiest to get to grips with, especially for cryptocurrency market newcomers.
Ease of use
The Exodus wallet application makes it easy to store coins and track coin values, via an intuitive portfolio page. Several easy to read charts and graphs also allow users to monitor the performance of different digital assets. Most importantly of all, cryptocurrency users can store several different forms of cryptocurrency, without having to set up different wallets for each.
Exodus Wallet Supported Coins
By default, Exodus supports all top market cap coins like Bitcoin, Litecoin, Digibyte, and Ethereum. As well as these, Exodus also supports hundreds of altcoins and ETH ERC20 tokens, with support for new coins added on a near weekly basis.
Secure Backup & Coin Private Key Access
With any cryptocurrency wallet, it is imperative to backup wallets in case of storage devices are lost or become corrupted. Exodus makes this process easy by allowing users to generate a 12-word recovery passphrase.
- Exodus users are recommended to back up their wallet using a recovery passphrase immediately after installation
- In the event of an emergency, a passphrase can be entered into new Exodus wallet installations
- When the correct passphrase is used, coin balances are instantly restored, regardless of how many different coins users had secured in their previous wallet
As well as using recovery passphrases, Exodus wallet users can also backup coin private keys individually. By clicking on the ‘Developer’ tab, followed by ‘Assets,’ users can view and export private keys easily. However, it should be noted that users must secure these safely after export.
In-Built Cryptocurrency Trading
By default, Exodus wallet installations link like to instant cryptocurrency exchange Shapeshift.io. Thanks to this feature, wallet users can buy and sell coins from inside Exodus itself.
Exodus Wallet Shortcomings
Exodus is by far the easiest cryptocurrency wallet to set up, use, and restore in the event of an emergency. However, Exodus also has several shortcomings.
- Exodus cannot be run securely on malware or virus infected PC’s
- The Exodus wallet is only available as a desktop wallet
Being a desktop client wallet only means that Exodus cannot be run as a mobile app or used for on-the-go cryptocurrency payments. It should also be noted that several apps purporting to be official releases of Exodus do exist on Android and IOS app stores. However, in every case, these should be avoided.
Send directly to your Exodus wallet
Once you’ve installed Exodus on your computer, you can send coins straight to your Exodus address in less than 2 minutes.
I’ll use Bitcoin in this example.
Click on Receive:
Click the copy button to copy the address:
Paste the address into our order form:
And it’s as easy as that! 🙂
To learn more about crypto wallets, click here.