Exodus is a multi-cryptocurrency HD wallet. It also supports 100+ cryptocurrencies, So today we are going to review the exodus wallet. In this Exodus wallet review, we will also discuss its design, currency supports, functionality, security, and some prons and cons.
However, it quickly gained large popularity due to its attractive design and functionality. It has been developed in July 2015 by JP Richardson and Daniel Castagnoli. Exodus wallet is a new cryptocurrency wallet and it is a hot wallet because you’re device always connected to the internet.
So, now without wasting our more time lets go forward to Exodus wallet review:-
Table of Content
- What is a Crypto Wallet?
- What is Exodus Wallet?
- Feature of Exodus Wallet
- Pros and Cons of Exodus Wallet
- Exodus With Trezor
What is a Crypto Wallet?
A crypto wallet is a wallet where you can store your cryptocurrency. Furthermore, it is a multi-crypto wallet, where you can manage or store more than one cryptocurrency at the same time.
The crypto wallet is divided into three categories.
- Web wallet
- Software wallet
- Hardware wallet
What is Exodus Wallet?
Now, the Exodus wallet supports all web wallets, hardware wallets, and software wallets as well. When it initially comes it only has a desktop wallet. Exodus and Trezor worked in partnership to gives the advance feature of the hardware wallet experience.
AS you know, Exodus wallet is a cryptocurrency wallet where we can store 100+ cryptocurrency at one wallet. Moreover, it is an HD wallet, the HD wallet is a wallet that supports, the feature of storing more the one currencies in a single wallet.
Feature of Exodus Wallet
Its feature is based on its working, design, supported coins, fess, and flexibility. Let’s go further and discuses its most important feature for batter understanding.
Intuitive User Interface Design
The Exodus user interface(UI) is very easy and Intuitive. You can do lots of things on its first UI. Furthermore, the Exodus user interface (UI) is very useful for beginners, who are coming the first time in the cryptocurrencies world and it is also not technical.
Exodus team works hard and releases a regularly new update with bug fixes and some changes. Its latest release is coming on 12 September 12, 2019. Its next release comes after 15 days of its latest release.
Support Multiple Currency
Exodus currently supports more than 100+ Cryptocurrencies. Moreover, it adding more currencies day by day. Supported cryptocurrencies are the asset of any crypto wallet. So, in other words, we say that exodus has 100+ assets.
Exodus currently supported asset are given in the table:-
You can also go to his Official Website to see changes to his asset list.
Built-In ShapeShift for Exchange
Exodus has built-in Shapeshift to exchange currencies. You can swap your coin without going anywhere. Shapeshift uses a very simple and easy way to convert your coins into other coins. You can convert your coin within seconds from one currency to another currency like Bitcoin to Litecoin, Bitcoin to XRP, and Bitcoin to Dogecoin etc, and vice versa.
Charges & Transaction Fees
Exodus wallet is free, no charge is applied to sending and receiving cryptocurrencies within exodus. Rather than Charges are applied, when you do any transaction, and that charge is network change, so it will directly transfer to miners account on the network.
Exodus uses dynamic pricing models. Furthermore, network charges are based on, how much persons are on the network at a particular time. If the number of persons high then the network load is increased and you need to give more charges. If the network load is less then you may pay less price.
In your mind question arise, how Exodus earn money. So it changes 2%-5% fees when you exchange your digital currency into another cryptocurrency.
Support Multiple Platform
In the past Exodus is a desktop wallet that means it can only run on desktop devices, and now you can use Exodus on desktop as well as mobile devices Android/iOS. You can download it from the app store and play store.
Exodus is available for Windows, Mac, Unix, and Linux to desktop users. And it is also available for android and iOS mobile users.
|Mobile and Tablet||Desktop|
Pros and Cons of Exodus Wallet
Everythings have some Pros and Cons as well as Exodus have also some prons and cons. Now let’s discuss some pros and cons of the Exodus wallet.
Pros fo Exodus Wallet
- User-Friendly Design
- Support Multi-Currency
- Available for Mac, Windows & Linux
- Constant Software & Development Updates
- Trezor Hardware Wallet Integration
- Good interface with powerful charting tools
- Ideal for the cryptocurrency trader or portfolio builder
- Access to nearly 100+ cryptocurrency assets
- Tutorials and videos to guide you through setup and use
Cons of Exodus Wallet
- New company means a lower reputation, especially since it is not open source
- Lack of two-factor authentication, which has raised some security issues
- High Exchange Fees
- Must Reuse the Same Addresses
Exodus With Trezor
It is a new release feature of Exodus. And this is used to made Exodus more secure. Trezor hardware wallets can easy to configure with Exodus Wallet and give the experience of a hardware wallet. Two Models of Trezor are compatible with Exodus.
- Trezor T
- Trezor One
1. Can I use Exodus on mobile?
Yes, now you can use it on mobile also, rather than initially it comes for only desktop devices.
2. Which version of Windows supports Exodus?
It supports Windows 7 or its higher version of windows.
3. Is Exodus wallet is safe or not?
Exodus is safe but, in this two-way authentication is not available.
4. Is Exodus wallet is a safe wallet to use?
Yes, it safe to use but no 2FA security layer available. It is good to manage a small number of blockchain assets.
5. Does Exodus charge any fees?
It is free, except for the transaction charges and currency exchange charges.
You can use Exodus on both desktop and Mobile devices. And it has a user-friendly design that can be easy to use by any beginner. Finally, you can use it as a hardware wallet with the help of Trezor. Furthermore, Exodus is a hot wallet so do not use a web wallet for a large transaction and switch to the hardware wallet to manage big amounts.
Hope! this guide helped you to understand what is Exodus wallet and also, we’ve discussed lots of things about it.
If you have any queries, feel free to tell us in the comment section. We are happy to help you.