Exodus Wallet Review

exodus-wallet-review

Exodus is a crypto wallet available for desktop and mobile devices and is said to be the most user friendly on the market. Crypto wallets are usually stifled by complex UI and advanced features that are too complicated for newcomers to handle from the start. Exodus was developed by JP Richardson and Daniel Castagnoli with the goal of creating one of the easiest to use cryptocurrency wallets to promote acceptance through usability.

What type of wallet is Exodus?

Exodus is a cryptocurrency wallet for Desktop and Mobile devices. 

Starting with Exodus

The starting experience with the Exodus wallet is like a walk in the park thanks to the founders’ ingenious design principles. The steps are designed to be easy to follow and understand with one of the most important ones is to write down your phrase, which consists of 12 words. After you have written the words, you will be asked to type them to make sure that you have not skipped the previous step. 

Once you have created your wallet, you will need to set a password that will be required each time you want to access the wallet. When you’re done with all this, you’ll be greeted by the wallet and all of the available assets you can store on it.

Which cryptocurrencies can I store in the Exodus wallet?

The Exodus is one of the wallets that offer the possibility to store numerous cryptocurrencies blowing out the competition many times over. You can store big cryptocurrencies like Bitcoin, Ethereum, XRP. Tether, Chainlink, and smaller cryptocurrencies like Decred, Decentraland, Golem, Icon, and others. The list goes on and on as the number of cryptocurrencies you can store in the Exodus wallet is over 110.

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Security

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In terms of security, the Exodus wallet itself is very well encrypted, but the lack of various user-controlled security features is not good. When opening the wallet, Exodus prompts you to enter a password. After that, you can send your cryptocurrencies without any restrictions or any other requirements.  The lack of a second-level password to be required is concerning if someone else gets a hold of your main password, then nothing will stop him from sending out all of your assets. 

There is an auto-lock feature that is recommended to have it turned on at all times. Otherwise, there are no other user-related security features on the wallet. Nevertheless, your cryptocurrencies are perfectly protected by the cryptography used to encrypt the wallet. Ultimately, the most important security practice is to run your crypto wallets from a clean and secure device.

Design and User Experience

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Exodus is one of the most user-friendly wallets with one of the most stunning designs. The whole logic behind creating the wallet is to make it easy and carefree to use it for inexperienced and not so technically savvy people. Most wallets desperately need a better interface for their users. Exodus urges its competitors to think about better design and user interaction. With Exodus, you get one if not the best crypto wallet design. 

Overall, the graphic design adheres to a minimalist style, which in turn conveys clear and visible images and information. On the “Home” page you can clearly see your overall balance sheet with additional important portfolio metrics.

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Scrolling down will take you to the index side of the wallet homepage providing various information about multiple cryptocurrency assets like current price, 24H change, Balance, Value, and Portfolio percentage allocation.

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The wallet page for sending and receiving a cryptocurrency is very clearly laid out, and you can easily send, receive, or exchange cryptocurrency assets. On the left side, you can easily jump to another cryptocurrency that can be stored on the wallet.

Internal Exchange

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Exodus Wallet offers the ability to exchange more than 20+ cryptocurrencies in a few clicks. So you no longer have to risk the security and privacy of your funds by sending them to an exchange.

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In-Wallet Apps

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On Exodus, you can install additional applications inside the wallet like Compound Finance, Rewards, and SportX which will provide additional functionality to the wallet.

Compound Finance

With the integration of Compound Finance in the Exodus wallet, you can directly start earning interest on your DAI savings on an annual interest of around 3% which is higher than the interest that you would receive in bank accounts.

Rewards

Staking cryptocurrencies has never been so easy, Exodus wallet provides the opportunity to stake 5 cryptocurrencies:

  • Algorand – ALGO
  • Cosmos – ATOM
  • NEO
  • Tezos – XTZ
  • VeChain – VET

SportX

With SportX you can bet on your favorite teams and by having multiple sports and esports available, the whole betting stage is at the finger of your personal crypto wallet. Decentralized betting is here.

Mobile version

The mobile version of the Exodus wallet also takes its place among the most user-friendly ones. The design principles are the same and therefore offer an amazing mobile experience that is hard to find elsewhere. With support for fingerprint scanning, Exodus makes it easier than ever to manage your personal funds. There are over 110 cryptocurrencies that can be stored on the mobile version. It will not be a mistake to use Exodus as one of your main mobile crypto wallets. 

Exodus + Trezor Hardware Wallet

The Trezor One and Model T hardware wallet models can be used with Exodus, giving you the opportunity to have the Exodus experience on one of the best hardware wallets available. 

Conclusion

The Exodus Wallet has established itself as one of the most prominent crypto wallets since its inception in 2015 by JP Richardson and Daniel Castagnoli. Since then, the wallet has received over 200 updates with a constant release window of 2 weeks. With one of the best user experiences and over 100+ cryptocurrencies you can store on the wallet, Exodus is one of the best crypto wallet offerings in the crypto industry. It’s secure, reliable, and trustworthy – these are 3 of the many other reasons why Exodus is a great software wallet for storing cryptocurrencies.

 

Exodus wallet is one if not the one with the best user experience for a cryptocurrency wallet where you can store over 50 different cryptocurrencies.