Why was the Exodus created?
Many software portfolios are available. Some of the competitors are Jaxx, Green Address, and Bread Wallet. So why would the Exodus team want to make another one?
The designers who designed Exodus wanted to have a user-friendly wallet that could do everything a basic cryptocurrency user could want. This, they hope, will make the crypto experience easier for people unfamiliar with the technology.
If these newbies have had a pleasant experience with cryptocurrencies, they are likely to recommend it to their friends. This is how widespread adoption is also evident from reading user Exodus wallet reviews!
For this reason, the Exodus team has included an easy-to-read portfolio section to help organize assets and verify their value against different fiat currencies. They also include integrated trading functionality. It allows users to exchange one currency for another. This is also how the Exodus team makes money because the software itself is free.
User interface and ease of use
Exodus is a cross-platform application available for Windows, macOS, and Linux. Since no registration is required, you can simply download and install the app to get started.
Please note, however, that while the developers claim that they are taking every measure to ensure that the application is secure, it does not offer two-factor authentication support and is only based on a password.
Also, unlike some of the other wallets, Exodus does not implement a comparatively new authentication mechanism which is known as a multi-signature address. That address requests permissions from multiple devices before initiating transfers.
Once inside the application, the interface is welcoming and quite intuitive. This is a remarkable achievement, as the app offers both cryptocurrency exchange and portfolio management services, allowing you to store, manage, and exchange cryptocurrencies from a single interface.
The application has a handful of icons at the top of the interface that you can use to navigate through its various functions. For example, the portfolio icon gives you an overview of your cryptocurrencies along with relevant information, such as price movement in different time periods for different assets. After this, there is the Wallet section from which you can send and receive any of the supported cryptocurrencies. This can be done either by scanning the QR code or using wallet addresses. You can trade between cryptocurrencies in the Exchange tab.
Application usage has been added. You can think of them as add-ons that add more features to the wallet, to earn your interest in cryptocurrencies.
By default, an empty Exodus wallet is not locked. However, the backup process starts automatically as soon as you have made a deposit to the wallet.
To receive cryptocurrencies, go to the Wallet tab and then first select the cryptocurrency you want to receive. You can also see a price table of the selected crypto on this page if you are interested; otherwise, just click and copy the receiving address from your wallet. You can also email this address and even take a screenshot of the QR code that the sender can scan from their device.
As soon as you receive the first deposit, Exodus will ask you to protect your wallet with a password. The app, through its documentation and videos, suggests using a password manager app for this purpose, which we think is very prudent advice. Exodus also displays a 12-word phrase to help you recover your password. Again, the developers suggest writing this phrase on a piece of paper to store offline rather than on your computer.
The process of sending cryptocurrencies from your Exodus wallet is also quite intuitive. After that, you have to click the send button and enter the address of the public wallet you want to transfer the crypto. Alternatively, you can hover over the QR code option to scan the recipient’s QR code from the webcam or from their screen.
You can easily exchange your cryptocurrencies in the same way. Simply go to the Exchange section and use the Exchange and Receive drop-down menus to select the cryptocurrencies you want to exchange between.
While security will always be the most important element of any cryptocurrency wallet, it should be mentioned that Exodus’ killer app is its beautiful software. The software displays your cryptocurrency holdings in an exemplary way and the well-thought-out user interface makes browsing child’s play. A good user interface can save you from costly crypto errors, so don’t underestimate the benefits of good software.
Exodus Wallet is also free to download, offers one-click exchanges, and offers hardware wallet support. Private keys and transaction data are stored on users’ devices and human support is available around the clock.
Its user-friendly and aesthetically pleasing design makes it easy to exchange cryptocurrencies and tokens with a single click. Exodus has no knowledge of users ‘blockchain assets, and all keys and transaction data are stored on users’ devices to ensure privacy and security. Perhaps the best overall feature of Exodus is that it supports Trezor One and Trezor Model T hardware wallets. For a fact, hardware wallets are the safest and easiest way to store your cryptocurrency. Wallets like Jaxx Liberty Wallet or Atomic Wallet do not support any kind of hardware wallet.