Exodus

One of the best digital wallet in the world!

Exodus is a software crypto wallet developed and maintained by Exodus Movement, a publicly traded company in the United States. It's arguably one of the most popular software wallets out there, and in our Exodus wallet review, we'll explain why.

Despite what its name suggests, Exodus is a non-custodial application for managing its funds and cryptographic keys. Crypto wallets do not store cryptocurrencies but rather the public and private keys with which transactions are signed. While this is what defines cryptocurrency wallets, Exodus and other apps are successful because they provide functionality to users.

Exodus is a multi-currency wallet, which means it can generate keys and addresses for hundreds of supported coins and tokens. To do this, however, it uses its own unique seed phrase, as it is a hierarchical deterministic wallet. Losing this seed phrase would mean losing the entire wallet, so store it safely and never share it with anyone.

Exodus Wallet is available on desktops (MacOS, Windows, Linux) and smartphones (iOS, Android).

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Features of the Exodus crypto wallet

As we have already said in this Exodus wallet review, it is packed with useful features for beginners and professionals alike. Let's review what this wallet has under the hood!

Portfolio monitoring

For example, the most striking feature of Exodus, both on mobile and desktop, is portfolio tracking. When you open the app, you can easily see the performance information of your assets in the home tab. It also updates balances and displays them in the currency of your choice in real time.

In-App Redemption

Another life-saving feature for a multi-currency wallet is the in-app exchange. With it, you won't have to go to an exchange to buy one cryptocurrency with another. Since this feature is provided by ChangeHero, we will certainly detail it for you later in this Exodus wallet review.

DeFi Features: Staking and Compounding

Exodus allows holders of Cardano, Solana, Tezos, Cosmos, VeChain and other PoS currencies to easily delegate participation. And they even have a YouTube tutorial with an explanation of how to do it.

For more sophisticated crypto holders and yield farmers, Exodus has integrated Compound Finance, a DeFi protocol focused on lending and providing liquidity.

Exod Actions

For US customers, they offer Exodus actions, which are self-describing. Exodus Movement Inc. has gone public and registered with the SEC. Now, users can even purchase their shares from the wallet, which is a unique offering in the market.

Note that this feature is region locked and requires providing personal information for authorization as a shareholder.

Advantages and disadvantages of the Exodus Wallet

Benefits

User-friendly: The interface is fairly easy to navigate, and customer service and resources are available right within the app.

Usefulness: The wallet supports 132 coins and the list is growing with every bi-weekly update.

Accessibility: Desktop and mobile versions of Exodus can be synced for maximum convenience.

The inconvenients

Our Exodus Wallet review wouldn't be complete without mentioning the downsides because, after all, no app is perfect.

No Change in Fees: Users note that sending altcoins can be expensive as the wallet will automatically set the fee for the fastest send.

Not fully open source: Not all Exodus code is open source, but the software undergoes regular security audits.

Hot wallet: Exodus can be connected to Trezor wallets, so users can have secure storage and excess

Frequently Asked Questions

What is the Exodus Wallet?

The Exodus Crypto Wallet is a non-custodial software application where users can send, receive and exchange over a hundred cryptocurrencies.

How to trade cryptos in Exodus Wallet?

To trade cryptocurrencies in Exodus Wallet, go to the “Exchange” tab, choose a pair, provide amounts, double check and click “Exchange”.

How does the Exodus Wallet work?

The wallet serves as an interface for interacting with thes blockchains. It does not contain any currency but only helps you sign transactions with the private key.

What coins does Exodus Wallet support?

There are 132 supported coins in total. About 90 of them have full support for sending, receiving and exchanging.

How do I fund my Exodus wallet?

Go to the "Wallet" tab, choose a cryptocurrency you need, click "Receive". You will see your address in the currency of your choice. Provide this as the withdrawal address to the exchange or service where you buy the crypto.