Crypto asset owners and users generally need a place in the form of a wallet to store their digital assets with high security. One of the favorite choices of users is Exodus Wallet.
Exodus Wallet is a user-friendly, multi-purpose crypto wallet, accessible via desktop, mobile devices, and browsers.
This wallet is designed to meet the needs of users of various levels of experience, both beginners and those already experienced in the crypto world.
So, to understand what Exodus is, its founders, benefits, advantages and disadvantages, and how to use it on PCs and applications, see the full review below!
What is Exodus?
Quoting cruxpool.com, Exodus is a multi-coin wallet created in 2015 by JP Richardson and Daniel Castagnoli. This wallet supports more than one hundred (100) cryptocurrencies, such as Bitcoin, Ethereum, Ethereum Classic, Ravencoin, Zcash, and Monero.
Users can store, send, and receive their crypto with this wallet with one account.
Exodus Wallet has a PC version as well as a smartphone app. This wallet is also available for three major operating systems: Windows, macOS, and Linux. The Exodus wallet application can be downloaded on the App Store and Google Play.
Exodus Founder
Quoting exodus.com, Exodus was founded in 2015 by JP Richardson and Daniel Castagnoli. JP Richardson brings behind-the-scenes technical wizardry to Exodus.
JP Richardson has published over 200 open-source libraries and has written the code used by most Bitcoin and crypto software on the web today.
On the creative side, from subtle sounds to smooth animation, Daniel Castagnoli oversees every detail of Exodus’ creative process.
Daniel Castagnoli is an emotional design expert and has designed experiences for Apple, BMW, Disney, Louis Vuitton, and Nike.
Benefits of Exodus Wallet
Quoting coinbureau.com/review/exodus-wallet, below are some of the complete features of Exodus Wallet that you need to know, including:
1. Privacy
Exodus Wallet can be used anonymously, as no personal information is required to download, install, or use the wallet.
Exodus does not collect personal information; private keys also remain completely under the user’s control. That said, Exodus isn’t focused on anonymity.
Public keys and transactions made with the wallet are fully visible on the blockchain, and there are no features to hide traces of user transactions.
Although they support privacy coins like Monero (XMR) dan Zcash (ZEC), they cannot perform fully protected transactions for Zcash.
If transaction privacy is a user’s primary concern, the user may want to consider using the ZCash core wallet or transacting with a privacy coin such as Monero (XMR).
2. Ideal User
The Exodus crypto wallet is designed with an easy-to-use interface, perfect for new users but sturdy and secure enough for crypto veterans.
This wallet can be said to be ideal for most mainstream crypto fans who are looking for a wallet that is safe and easy to use. Because it offers various functions and features.
Exodus Wallet is also a great choice for those who own a wide variety of popular coins, as it supports over 250 cryptocurrencies, with more being added over time.
3. Exchanging Assets
While the Exodus Wallet itself is not an exchange, it allows users to exchange supported cryptocurrencies for each other directly within the app through the use of a full, unsupervised API provider.
Third parties can allow users to exchange their favorite assets without requiring KYC identification verification.
If a user has coins in their wallet and wants to exchange them, they only need to click on the “exchange tab.” There, users can choose the coins they want to exchange.
Pros and Cons of Exodus Wallet
Quoting id.bitdegree.org, Exodus Wallet is known to have some pros and cons. The following are the pros and cons that you need to know, including:
1. Pros of Exodus Wallet
- Easy to use: Exodus Wallet is one of the most user-friendly crypto wallets.
- Multi-currency support: Storing all assets in one place simplifies trading and spending.
- Integrated trading and portfolio functions: The ability to exchange currencies and monitor financial developments is easily possible within the Exodus wallet.
- Automatic fee adjustments: For those new to crypto who may be unsure about setting network fees for transactions, Exodus handles this automatically.
- Good customer support: Something rare in crypto products, Exodus provides quality customer service.
- Software wallets: More secure than web wallets, making Exodus ideal for small transactions and everyday spending.
2. Cons of Exodus Wallet
- Vulnerable to hacking: As a software wallet, Exodus poses security risks if the device is infected with malware or keyloggers.
- Limited security features: Without two-factor authentication or multi-signature support, it’s best to avoid storing large amounts of money in this Exodus wallet.
How to Use Exodus Wallet on PC
Quoting cruxpool.com, the following is a complete tutorial on how to use Exodus Wallet on a PC that you need to know:
After downloading the Exodus software, open the app. Now you are on the Exodus homepage. You will find 4 important pages:
- Portfolio
- Wallet
- Exchange
- Backup
“Portfolio” allows you to follow your crypto prices and transaction history. “Wallet” is the place where you can access all your accounts, while “Exchange” will allow you to exchange one cryptocurrency for another.
Secure Wallet
- Take a look at the “Backup” page. This will allow you to secure your access to Exodus.
- Create a password. Use a complex password that you can remember. Try to make it unique so that it is not similar to other passwords.
- Then, after selecting and confirming your password a second time, Exodus will offer a backup phrase. This phrase is very important and will allow you to return the wallet to the beginning, if you forget the created password.
- Write down the words well, preferably on paper, and don’t lose them.
- After all these steps, your Exodus account is now safe.
Choose Crypto
- Exodus covers many cryptocurrencies. However, you can add or remove coins as you wish.
- You need to go to “Settings” then “Assets” for this. And you will see a long list of cryptocurrencies available on Exodus.
- Click in the circle to the left of the coin logo to add it to your wallet.
Accept Crypto Transactions
- To receive your crypto, go to “Wallet” and select the coin you are interested in. Once inside, click “Receive”. A new page will appear.
- You will find your wallet address written and also in QR Code format. By clicking the “View on Blockchain” button, you will be directed to Etherscan.
Send Crypto
- To send crypto, go to “Wallet” and select the coin you are interested in. Once inside, click “Send”. A new page will appear.
- To complete the transaction, you must enter the recipient’s wallet address. You can also add personal notes. Click “Send” to complete the transaction.
How to Use Exodus Wallet in App
Quoting cruxpool.com, below is a complete tutorial on how to use Exodus Wallet on a PC that you need to know:
After downloading the Exodus software, open the app. Now you are on the Exodus homepage. You will find 3 important pages:
- Wallet
- Exchange
- Profile
“Wallet” is where you will find all your accounts, while “Exchange” will allow you to exchange one of your cryptocurrencies for another.
Secure Wallet
- Look at the “Profile” page and, more precisely, the “Security” section. This will allow you to secure access to Exodus.
- Create a password. Use a complex password that you can remember. Try to make it unique so that it is not similar to other passwords.
- Then, after selecting and confirming your password a second time, Exodus will offer a backup phrase. This phrase is very important and will allow you to return the wallet to the beginning, if you forget the created password.
- Write down the words well, preferably on paper, and don’t lose them.
- You can protect your account access by using a 6-digit code, but also by using your fingerprint.
Choose Crypto
- Exodus covers many cryptocurrencies. However, you can add or remove coins as you wish.
- For this, you need to go to “Profile”. You will see a long list of cryptocurrencies available on Exodus.
- Press to the right of the coin to add it to your wallet.
Accept Crypto Transactions
- To receive your crypto, go to “Wallet” and select the coin you are interested in.
- While in it, click the right arrow. A new page will appear.
- You will find your wallet address written and also in QR Code format.
Send Crypto
- To send your crypto, go to “Wallet” and select the coin you are interested in. Once inside, click the left arrow. A new page will appear.
- To complete the transaction, you must enter the recipient’s wallet address. Press “Next” to complete the transaction.
Exodus Wallet Privacy
Quoting coinbureau.com/review/exodus-wallet, Exodus Wallet can be used completely without revealing identity because it does not require personal information to download, install, or use the wallet.
Exodus does not collect personal data, and private keys remain completely under the user’s control. However, Exodus does not emphasize the anonymity aspect.
Public keys and transactions made with the wallet are fully visible on the blockchain, and there is no feature to hide a user’s transaction history. Although Exodus supports privacy coins such as Monero (XMR) and Zcash (ZEC), they cannot carry out fully protected transactions for Zcash.
If transaction privacy security is a user’s top priority, then it is recommended to consider using the ZCash core wallet or making transactions with a privacy coin such as Monero (XMR).
How Many Crypto Assets Does Exodus Support?
Quoting coinbureau.com, Exodus only supported a small number of crypto assets when it was first released. Still, as it has grown, it has continued adding support for new coins regularly, currently supporting over 260 cryptos, with more continually added. Multi-currency support is one of Exodus’ superior features.
Indeed, you can store any ERC-20 tokens on Exodus, even if they are not listed as supported. The downside is that you cannot see the balance of these unsupported ERC-20 tokens in the Exodus wallet.
Instead, you will need to view the balance using the Ethereum blockchain explorer and may need to import your private key into a wallet that supports that asset to be able to transact with it.
You can see the full list of supported coins on their “Status Page,” it is recommended to check here first to ensure that your assets are supported before sending funds to the Exodus wallet.
This “Status Page” is also a good place to check for updates regarding network or asset issues before making a crypto transaction.
Crypto Assets Staking on Exodus
Quoting coinbureau.com/review/exodus-wallet, Exodus offers a way for users to stake a number of assets directly in a wallet.
With the introduction of assets that use a Proof of Stake (PoS) consensus model, users can place and earn passive income for many of their favorite assets, such as Cardano, Algorand, Cosmos, Solana, and others directly from within the Exodus wallet.
Staking works differently among the various assets a user chooses to stake. Some assets require a lock period, and the reward claim function works differently for some assets.
Therefore, check out the Exodus knowledge base to understand more about the assets you want to place. So you know what to expect.
Conclusion
In conclusion, Exodus Wallet offers crypto users some significant advantages and benefits. With a user-friendly interface, support for various assets, and staking capabilities, this wallet is an attractive choice.
Security is the main focus of Exodus Wallet, with features such as encryption and full control of private keys.
On the other hand, users need to understand and implement good security practices when using Exodus Wallet. That includes creating strong passwords, storing backup phrases securely, and carefully understanding the asset deployment process.
By following these security guidelines, users are expected to maximize the benefits Exodus Wallet offers while maintaining the security of their crypto assets.
Invest in Crypto on INDODAX with Staking (EARN) Feature
So, now you understand what Exodus is, its founders, benefits, advantages and disadvantages, and how to use it on PCs and applications.
Next, if you are interested in investing in crypto assets, it is a good idea for you to choose a safe and trusted crypto exchange on INDODAX.
On INDODAX, currently, there is a feature called crypto staking or crypto earn. The crypto staking feature allows you to secure your crypto assets in a way similar to storing funds in a savings account. Later, the crypto assets you lock with the INDODAX Earn feature will provide rewards similar to the interest earned from conventional savings.
Also, remember that the INDODAX Earn crypto staking feature can be accessed easily, anytime and anywhere, via the Mobile and desktop applications on the INDODAX website.
Let’s start investing in crypto assets with the crypto staking feature on INDODAX!
