Exodus allows you to receive and send tokens, as well as exchange them directly within the app. The application's design is simple and intuitive, making this crypto wallet suitable even for beginners. In this article, we will look at the details of using and setting up the Exodus wallet. 

Link to the Exodus wallet website
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The wallet was created in 2015. One of the developers was a designer at BMW and Apple. However, the focus is not only on a pleasant design, but also on technology. Today, the wallet has undergone more than 200 updates, which are released every two weeks. Exodus is considered one of the most secure products, supporting approximately 165 cryptocurrencies.

Exodus allows you to receive and send tokens, as well as exchange them directly in the app. The app’s design is simple and intuitive, making the crypto wallet suitable even for beginners. It really lets you move away from using multiple wallets and concentrate financial flows in a single application. This simplifies the process of owning tokens, since it’s always more convenient to work in one window and not store multiple passwords and seed phrases.

Exodus Wallet — Overview

The wallet supports all coins from the TOP-30 list and more than a hundred other altcoins. Previously, Exodus was considered a desktop application, but the developers have improved the mobile version, which now supports the same number of coins.

The main feature is storing private keys and other data in encrypted form directly on your personal computer or smartphone. The developers note that the data remains private. However, in practice, this storage method can become a serious vulnerability.

Exodus Wallet — Download and Installation

Open the Exodus developer website and go to the "Downloads" section. Choose the platform that is optimal for you. Keep in mind that the Trezor hardware wallet requires a personal computer. In this case, you need to install the desktop version.

Open the downloaded file and proceed with the installation. As an example, let’s look at working on the Windows platform. After installation, the program will greet the user and offer to deposit funds into the wallet or restore an existing account.

The program interface is easily customizable for the user, but you cannot change the language. The program is only available in English, but there’s no need to worry about this. The controls and buttons are arranged clearly and harmoniously. For greater clarity, let’s further study the main functionality.

Exodus Wallet — How to Use

Importantly, you do not need to register or create wallets. Exodus Wallet is aimed at beginners, so the program generates wallets by default immediately after installation. Let’s start by looking at the purpose of the main buttons on the wallet’s home page.

The user only needs to remember 7 main buttons:

Before receiving your first coins, you need to study the “Settings” section. A potential token owner should secure their funds and set a strong password, which is the only means of protection, and its reliability depends on the user.

Go to the “Settings” section. The settings menu contains the following tabs:

You have familiarized yourself with the app interface and main tabs. Next, you need to secure your funds and set a password. You need to remember or write it down, as it will be the main way to access your money. Open the “Backup” section, come up with a password and click “Next”. Confirm it and enter the password again in the next window.

After creating the password, the app will provide access to the seed phrase. It is needed to restore the wallet, for example, if you reinstall the wallet or forget the password and lose access to the app. The program will provide 12 words; write them down on a piece of paper and store it in a place protected from outsiders. To view a word, simply hover your cursor over the corresponding cell. Click “Next”. At the last step, the program will check the correctness of the seed phrase recording.

Done! Security settings are optimized, the seed phrase and app password are securely recorded. You can start working with cryptocurrencies.

Funding the Exodus Wallet

Making a deposit is incredibly simple. Open the “Wallet” section. On the left, click on the desired cryptocurrency and press “Receive”.

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You can fund the created wallet in three ways:

Withdrawing Funds Using Exodus

Open the familiar “Wallet” section and select the desired coin. Click the “Send” button. You can send funds in just a few minutes. Follow these steps to transfer funds to another network participant or to your alternative account:

The system will confirm the correctness of the wallet, after which you can click the “Send” button. The funds are sent.

How to Exchange Funds in Exodus

The Exodus crypto wallet instantly converts one token to another. This helps avoid high fees and little-known exchangers. Click on one of the icons to proceed to exchange.

Create a currency pair; either of the two tokens can be set and selected as needed. Enter the amount and check the equivalent you will receive. Click “Exchange now”. The exchange is done. Note that the wallet’s built-in exchanger also charges a small fee.

Exodus Wallet — Reviews, Advantages, and Disadvantages

Exodus Crypto Wallet has a rating of 4.2 out of 5 on Trustpilot. Let’s highlight the main advantages and disadvantages based on reviews from real users. The positive aspects include:

• service and support — crypto holders consider the support to be excellent, as their issues are resolved by real company staff. This is one of the strongest sides of Exodus;
• the wallet is suitable for beginners, has a logical and clear design, every step is well thought out and does not take up the user’s time;
• support for popular tokens, built-in exchanger;
• continuous product updates, implementation of new developments;
• fast transactions, no reports of Exodus wallets being hacked;
• no need for a large hard drive, since the blockchain is not downloaded to the computer;
• integration with the Trezor hardware wallet and the presence of a mobile version.

The strong development team also made some missteps:

• the interface language cannot be changed — not every user is ready to use English to interact with the wallet;
• advanced users cannot change the transaction fee themselves or review the application’s source code;
• there is no authentication via phone or e-mail, which is standard for many exchanges and crypto wallets;
• encrypted keys are stored on the user’s computer; moreover, phishing software on the computer can deprive the user of all funds;
• it is not possible to buy cryptocurrencies for fiat.

Link to the Exodus wallet website