Designed with beginners in mind, Exodus is an easy-to-use crypto wallet that prioritizes customer service.
Cryptocurrency wallet Exodus offers users the option to store their coins from exchanges or NFTs (non-fungible tokens) from marketplaces. An internet-connected wallet is referred to as a hot wallet because of its connection to the internet.
What is the Exodus wallet and its key features?
Users can store, manage, and exchange cryptocurrencies with the Exodus wallet, a desktop-based digital asset management system. You can download the software for Windows, macOS, and Linux for free.
Founded in mid-2015 by entrepreneurs and software developers J.P. Exodus was launched on July 1, 2016, by J.P. and Daniel Castagnoli. The simple design and clean interface make this wallet a great option for users who want a simple digital asset management platform.
In addition to the following features, Exodus offers several others that users find appealing:
- Cryptocurrency assets are supported in more than 225 different ways.
- The FTX crypto exchange is fully integrated with the wallet, allowing users to trade directly from the wallet
- Managing assets on the go are made possible by a mobile app.
- Putting a maximum amount on gas fees that can be customized.
- The ability to purchase cryptocurrencies with U.S. dollars, euros, or British pounds.
- 24/7 customer support.
Among its most notable features is its 24/7 support, which can be found through a variety of channels:
- Chatbot – The chatbot can be accessed from the homepage by clicking the icon.
- Discord – Over 11,000 people are members of this channel. The official Exodus Discord channel can be accessed here.
- Reddit – A community where members discuss crypto-related issues, and feature requests, and post technical information.
The “support” tab also provides access to a library of support documents, which include general information on blockchain topics as well as Spanish-language information.
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How to get started
The assets Exodus supports can be found here, so you should familiarize yourself with them before you begin. Since the desktop installation is similar to the iOS and Android ones, we will show you how to do it for demonstration purposes.
- Wallets for Windows, Mac, and Linux can be downloaded from the Exodus website.
- Select the appropriate installation file for your operating system by dragging the drop-down arrow. As part of the “know-your-customer” (KYC) process, Exodus won’t ask for your full name, email address, or country of residence.
- You will see the Exodus Wallet app on your desktop after completing the installation:
- In order to secure your wallet, you must follow the steps in the installation process. You can access settings by clicking on the gear icon (third from the top right).
- You can create your password by clicking the security or backup tabs. To protect your account, you should choose a strong password. Remember: Never lose or forget this password, because it will be required to access your Exodus wallet in the future.
- The recovery phrases are automatically generated chronologically from one to twelve by Exodus. Each phrase must hover over with your mouse. It is essential that you memorize these phrases in case you lose access to your Exodus wallet or reinstall the application.
- In case of loss or forgetfulness, keep your recovery phrases or private key in a safe place. There is no copy of the recovery phrase stored in Exodus.
- Your recovery phrase will have to be verified. For confirmation, Exodus will randomly select a number from which the word comes.
- To confirm that you have entered the words correctly, click the “confirm” button.
A desktop Exodus wallet has now been successfully created. In addition to storing and sending cryptocurrencies, you can now receive them as well.
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How to receive crypto in your wallet
After the installation, there are a few steps to complete to get your assets into Exodus.
- First, click on “Assets.”
- The next step is to select the asset or assets you would like to receive. Dogecoin (DOGE) will be used as an example in this case. For it to be enabled, you must click the checkmark.
- By clicking on “Dogecoin,” you will be taken directly to the wallet where you can receive Dogecoin.
- Using the QR code or copying the address is your choice for transferring dogecoins.
Things to consider to decide if Exodus wallet is right for you
To make an informed decision about a crypto wallet, you need to know and weigh the following factors:
- You should keep your private keys or recovery phrases safe when using Exodus since it is a hot wallet that is directly connected to the internet and non-custodial.
- For those seeking an easy-to-access crypto wallet, Exodus is a solid choice.
- Besides being user-friendly, it provides high levels of security for your coins. It’s worth considering a cold wallet instead if you intend to store your cryptocurrency for an extended period of time.
- Exodus’ “buy crypto” feature funnels you to the MoonPay platform to fund your wallet, however, you won’t be required to complete KYC registration in order to create an Exodus wallet. To do so, you will need to provide your address and other personal information.
- There are very few apps and dapps available. Exchanges (FTX), NFT markets (internal Solana markets), and decentralized finance platforms (Compound) are the only options.
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