Exodus is a free multicurrency wallet that is great for both new and moderate crypto investors. It supports a wide variety of cryptocurrencies and offers an intuitive interface for new and experienced cryptocurrency users. In this Exodus wallet review we will introduce you to the software, the various cryptocurrencies you can store, security features, their advantages and disadvantages.
Pros and Cons
|✔️ Beginner friendly wallet
|❌ Not open source software
|✔️ Supports all operating systems
|✔️ It’s completely free
Exodus is an easy-to-use multi-currency software wallet for mobile devices and desktops. For desktop users it works equally well for both PC, Mac and Linux and for all the mobile users there is a native iOS and Android app available for download.
The design of Exodus is simply beautiful and makes it very easy to take control over your assets, and exchange them if needed. That’s right, not only can you store all of your crypto using Exodus, you can trade peer-to-peer within the wallet. One thing to note is that the fees for trading on Exodus is much higher than our list of best crypto exchanges as its primary focus is being a cryptocurrency wallet.
It is also compatible with Trezor hardware wallets, enabling you to enjoy the elegant Exodus interface and the robust security of hardware wallets.
Setting Up Exodus Wallet
The average person can expect a simple and pain-free experience when he sets up an Exodus wallet. Despite there being a couple of safety steps such as backing up one’s wallet, it is important for newcomers to learn how to store their purchased cryptocurrencies in a secure way. The process is as following:
- Download Exodus wallet on desired device.
- Install Exodus and run the application.
- Press “Get Started” and read the informative tips.
You are done! Now keep in mind, if anything were to happen with your electronic device, your cryptocurrency will be all gone. So, we recommend the first thing you do is head to the “Security” page and backup your secret 12 word recovery phrase. These 12 secret words are the only way to recover a lost wallet. Some additional security steps would be to add a password to your wallet. If you are using a mobile device you can also secure the wallet with fingerprints.
Exodus currently supports over 125 cryptocurrencies, which is a lot for a completely free crypto wallet. This list includes includes:
- Bitcoin (BTC)
- Ethereum (ETH)
- Cardano (ADA)
- Binance Coin (BNB)
- Monero (XMR)
- Litecoin (LTC)
- Brave Attention Token (BAT)
It is important to note that this multi-currency wallet is a light wallet. This means they do not download the entire blockchain and use multiple servers to track the wallet balance. This makes Exodus an extremely light-weight wallet for any of your devices.
Security & Customer Support
Many hackers have faked exodus to steal user funds, so make sure you triple check all links to protect your assets from harm. Exodus Wallet download and operation is entirely client-side, meaning that you never need to share your private keys.
As previously mentioned, always backup your 12 word security phrase in a safe location and never share it with anyone. We recommend storing it off-line so by using pen and paper or a dedicated crypto wallet backup phrase system.
If you were to run into any problems then Exodus will be there to help. Not only does Exodus have an extensive knowledge base with the most common questions and answers. They also have a dedicated customer support team that can be reached by email.
To complete the Exodus wallet review, it is justifiable that it is one of the leading and best cryptocurrency wallets for beginners. The attractive design and intuitive interface that allows users to own, receive, send, sell, and exchange cryptocurrency for small amounts without a long process makes it a perfect choice for beginners. In addition to it being a good wallet, it is completely free which gets two thumbs up from us.