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Exodus Wallet Review: Safety, Software and Supported Coins
Exodus Wallet was co-founded in 2015 by JP Richardson and Daniel Castagnoli in an effort to remove the geek requirement associated with cryptocurrency. They emphasized on creating a beautiful user interface to achieve a simple experience while exchanging digital assets. Exodus offers free downloadable desktop and mobile versions of their cryptocurrency wallet, while also having hardware wallet compatibility with the Trezor One and Trezor Model T. By providing a built in exchange and being one of the only software wallets that offers hardware wallet compatibility, Exodus Wallet has been well-received by many in the crypto community. Our Exodus Wallet Review will help you decide if it is right for you.
- Free to download for desktop & mobile
- Supports multiple hardware wallets
- Supports over 100 cryptocurrencies
- Great customer support
One-click crypto exchanges any time
Human support desk available 24/7
Easy to use interface
Free to download with no registration required
Hardware wallet support (Trezor One and Trezor Model T)
Mobile app supports less cryptocurrencies
No way to buy cryptocurrency in the app
Doesn’t support cryptocurrency to fiat transactions in-wallet
Exodus at a Glance
|Wallet Type||Cryptocurrencies||Price||Size of App||Released||Pin Code Protected||Frequency of Updates||Trust Rating|
|Software||100+||Free to download||33mb||2016||Yes||High||High|
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.
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.
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)
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.
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.
Exodus Frequently Asked Questions
Exodus Wallet, as a company, has never been hacked, and because they store none of your keys, or asset information. Your assets are stored on the blockchain, not with Exodus.
If you are careful about setting up and securing your wallet, your device has not been compromised by malware or a keylogger, and you keep your recovery phrase safe, then your coins are safe using Exodus Wallet.
While there are components of Exodus Wallet that are open source, it is not open source software.
Yes! Exodus Wallet is compatible with iOS and therefore works on iPhone. However, only about half of Exodus Wallet’s supported coins are supported on the mobile app. Users wishing to maximize the number of tokens and assets they can exchange will need to use the desktop wallet at some point.
Exodus was founded in 2015, so while it is not brand new, it is still in its early stages of existence. At 4 years old, Exodus Wallet is older than most other crypto wallets such as Jaxx Liberty Wallet or Atomic Wallet.
Exodus only supports two-Factor authentication through Trezor One and Trezor Model T hardware wallets.
Yes! Exodus supports Dash Coin along with over 100 other cryptocurrencies and tokens. For a full list of Exodus Wallet supported coins please visit: https://www.exodus.io/status/
Yes! Exodus supports both the Trezor One and Trezor Model T. It does not support the Ledger Nano series.