Exodus Wallet Review: Safety, Software and Supported Coins

Beginner Perspective of Exodus Wallet

Using Exodus removes the need for registration, as done on an exchange, and provides an easy to use layout. The average person can expect to have a simple, headache-free experience with the built in exchange and storage of cryptocurrencies in the wallet. The top-notch security that Exodus offers its users is an added bonus.

With Exodus, the initial purchase of cryptocurrency must be done through another app or exchange. Those crypto assets can then be sent to Exodus. Although an extra task, it’s extremely important that beginners to cryptocurrency learn how to store their purchased crypto assets in a non-custodial wallet, like Exodus.

Best Features

The best features of the Exodus Wallet are that it is free to download, it has an easy to use layout and one-click exchanges, it provides hardware wallet support, private keys and transaction data are stored on the users’ device, and there is 24/7 human support available.

Its easy to use and aesthetically pleasing layout make one-click exchanges of cryptocurrency and tokens simple. Exodus doesn’t have any knowledge of users’ blockchain assets, and all keys and transaction data are stored on the users’ device, providing privacy and security. Perhaps the best overall feature of Exodus is that it supports Trezor One and Trezor Model T hardware wallets. Hardware wallets are the most secure way to store your cryptocurrency. Wallets such as Jaxx Liberty Wallet or Atomic Wallet do not support any type of hardware wallet.

Cryptocurrencies Supported

Exodus wallet supports over 100 cryptocurrencies and tokens including all the heavyweights like Bitcoin, Ethereum and Litecoin but also some rising stars like Stellar, Dai, Lisk and more. Here’s a look at some Exodus Wallet supported coins:

• Bitcoin (BTC)
• Ethereum (ETH)
• Stellar (XLM)
• Tether USD (USDT)
• Bitcoin Cash (BCH)
• Litecoin (LTC)
• EOS (EOS)
• Monero (XMR)
• Bitcoin SV (BSV)
• Binance Coin (BNB)
• Chainlink (LINK)
• Cosmos (ATOM)
• DAI (DAI)
• Tezos (XTZ)
• Tron (TRX)
• Cardano (ADA)
• Brave Attention Token (BAT)

Security

The first stage of Exodus Wallet’s security is the user-created password. This password is required for access to the wallet once set up, along with confirmation of transactions and viewing private keys. The next step is copying a randomly generated 12-word backup seed phrase which can be used to recover access to the wallet if your device is lost or stolen. All data stored on the users’ device or sent when making a transaction is fully encrypted. Exodus has no knowledge of or access to your cryptocurrency, ensuring transparency.

What Operating Systems Does Exodus Support?

Exodus Wallet supports Windows, MacOS, and Linux desktop operating systems. It also supports Android and iOS mobile operating systems. In addition, it offers hardware wallet support for Trezor One and Trezor Model T in conjunction with its desktop wallet.

Potential Dealbreakers

The main downside of using Exodus Wallet is that you cannot make an initial purchase of cryptocurrency directly through the wallet. Instead, users must use an exchange, whether centralized or decentralized, in order to turn their fiat currencies (USD, CAD, EUR) into digital currency. They can then transfer their cryptocurrency into their Exodus wallet.