Exodus Wallet Review

Setup & Configuration

To kickstart your Exodus journey, download and install the latest version of the software by clicking on this link choosing the version that corresponds to your operating system (Windows/Linux/Mac).

No need to set up an account with Exodus—just install the software. To begin, deposit a minimal amount of crypto like Bitcoin into the wallet. Only after your initial deposit will the 12-word recovery seed be shown.

Receive Digital Assets

For receiving digital currency (e.g., BTC) into the Exodus wallet, follow these steps:

1. Launch the Exodus software on your desktop.
2. Select 'Wallet' from the menu on the screen's left side.
3. Choose your desired coin or token (e.g., BTC), then click 'Receive.'
4. You'll now see your receiving address. You can either copy it or share the QR code with your sender. Once the transaction is initiated, you will receive the funds.

Well done! You’ve successfully acquired your first digital asset on Exodus Wallet. A minor fee will be deducted for this transaction.

Initial Configuration

After your initial deposit, here’s how to configure your account:

1. Launch the Exodus software on your desktop.
2. Select 'Backup' on the menu on the left side of your screen.
3. You'll be prompted to set a password. Enter a secure, minimum 8-digit password, inclusive of numerals or special characters, then hit 'Next.'
4. Re-enter the password and click 'Next.'
5. Your 12-word recovery phrase appears. Note them down on paper or print if a printer is available. (Avoid saving the seed electronically; it can be hacked easily.)
6. After a thorough note-taking, click 'Next.'
7. Key in your email on the designated box and hit 'Finish' to receive a backup link for account recovery should you lose your password. A 'Backup Complete' message will confirm your setup is finished.

Congratulations! Your Exodus account is now set up, complete with a password and recovery seed.

Send Digital Assets

To transfer digital assets from Exodus to another wallet, follow these:

1. Launch the Exodus software on your desktop.
2. Click 'Wallet' on the left of your screen.
3. Choose the coin/token you wish to transfer (e.g., Ethereum) and select 'Send.'
4. Input the recipient's address and the amount to send (e.g., ETH). Confirm by clicking 'Send.' (You can also scan a QR code instead of manually entering the address.)
5. Verify the details in the confirmation window, ensuring the address is accurate before clicking 'Send.'

Well done! You've successfully sent your first digital asset from the Exodus wallet. A small transaction fee is applied.

Exchanging Digital Assets

Aside from asset storage, Exodus allows currency swaps like exchanging BTC for ETH. It facilitates over 50 trading pairs.

Steps for asset swapping: assuming a BTC to ETH trade with existing BTC in Exodus.

1. Open the Exodus software.
2. Locate the 'Exchange' tab on your screen's left side.
3. Select the asset to exchange (BTC) from the dropdown menu on the left.
4. Choose the asset to receive (ETH) from the right dropdown menu.
5. Input the amount to exchange or select ALL / HALF / MIN options.
6. The active exchange rate will display. If satisfactory, click 'Exchange' to proceed, noting the 3-second buffer to cancel if needed.

Bravo! Your initial exchange order is in motion, and you should receive your assets in about 30 minutes.

Security

With Exodus granting you total charge over your funds, it’s critical to create robust passwords and safeguard your recovery seed.

Exodus isn't immune to cyber threats, mirroring the security of your computer. Any malware, virus, or harmful software attack compromises your wallet's safety.

Thus, hardware wallets are recommended for extensive digital asset storage. Ledger or Trezor Exodus offers a guide for safeguarding funds. To ensure security, it’s recommended to:

Visit the detailed FAQ section

• and read the question ‘How do I keep my money safe?’
• Select the Backup/Restore section
• Exodus Wallet Overview (2021 Insight) - Manage Your Crypto with Ease while Discovering Cryptimi

Exodus offers a software-based solution for storing and trading your cryptocurrencies. Explore this thorough analysis to determine its security standards!

Recovery Options

Exodus Wallet functions as a software-based application, enabling users to both store and trade decentralized blockchain assets thanks to its integrated exchange. Since its debut in 2016, it has quickly carved out a niche in the crypto realm.

• Using recovery phrase
• Using Email Recovery link

Recovery phrase

It's rapidly gaining traction among investors thanks to its user-friendly and adaptable interface, offering live charts for tracking assets in real-time. Users can also tailor the look of their portfolio with customizable themes, ensuring the experience matches their individual taste.

1. Supporting over 80 different digital assets, Exodus qualifies as a true multi-asset cryptocurrency wallet. It's designed for ease, allowing even beginners to navigate it effortlessly. However, users can only exchange digital currencies within the app, as it doesn't facilitate buying with fiat money.
2. While Exodus is convenient for transactions and exchange, it’s advised to store significant sums on hardware wallets due to its comparative lack of security robustness.
3. For managing large digital wealth, opt for hardware solutions.
4. Security is primarily user-driven with Exodus, offering a recovery password and phrase but lacking in advanced protective measures. Since Exodus bypasses storing any user data on their servers, safeguarding your funds is your personal obligation.

Though not the most secure, Exodus makes up for it with incredible ease of use, but how does it hold up against other wallet options out there?

Email Recovery Link

eToro X Limited, based in Gibraltar and identified by number 116348, offers both Wallet and Exchange services. It’s a DLT provider approved and licensed by the Gibraltar Financial Services Commission under the Investments and Financial Fiduciary Services Act, holding the license FSC1333B.

1. Tiered Plan Monthly Pricing Structure
2. Exodus Wallet accommodates over 102 different coins and tokens, including:
3. Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Ethereum Classic, Civic, Basic Attention Token, Dash, Litecoin, Decred, Digibyte, Edgeless, EOS Mainnet, Genesis Vision, Gnosis, Golem, Litecoin, Loopring, Neo, OmiseGo, Qtum, Ripple, Salt, Storj, Tron, TrueUSD, Zcash, Tether USD, WeTrust, Aragon, EOS, and more.

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