Exodus Multi-Cryptocurrency Wallet Review | 2018
Exodus Wallet Review
Owning digital wallets is a vital part of being a member of the crypto community, as the wallets are used for the safekeeping of digital currencies. There are different categories of digital wallets, each with its own unique function. One digital wallet that has continued to grow and win the hearts of many is the Exodus Wallet.
Exodus wallet is a desktop type of wallet created to give the users total control over their digital currency assets. The wallet comes with a beautiful, intuitive, and beginner friendly interface, making it easy for a newcomer to the cryptocurrency to get around without experiencing difficult technicalities. The Exodus wallet is the first to be fully compatible with the popular ShapeShift crypto exchange, which allows one to exchange one crypto for another with ease.
Let's take a look at everything the Exodus wallet offers.
Transaction fees are charged for every payment processed, and the fees also get paid directly to the different blockchain network (Bitcoin, Litecoin, Ethereum, etc.), hence, the fees paid are not kept in the possession of the Exodus system. Exodus makes reliability and speed a priority, and pay less attention to lower fees. Fees on the Exodus system are not fixed manually; rather they are dependent on the changes that occur on the blockchain network. You will be paying fees based off how many miners are online, how backed up the blockchain is with transactions and few other variable factors.
Cryptocurrencies Allowed for Storage
Unlike so many other digital wallets, the Exodus wallet was created to store a wide collection of cryptocurrencies, including:
Furthermore, Exodus is making moves to also support several more alt-coins, only the most forward and progressive in the industry. They will only back coins that have a solid foundation beneath them and poised for growth.
There are different reasons why Exodus is a top choice of wallets for many cryptocurrency users, and this is due to the fact that the wallet has amazing features including:
- Crypto portfolio
- Crypto exchange
- Multi-asset wallet for different types of crypto
- Intuitive and easy to use interface
- Fast and reliable transactions
As you can see, Exodus allows for you to exchange your coins within the wallet using shapeshift.
You can easily see your full portfolio overview using a pie chart that is color coded. You can also toggle on/off the types of coins you want to show up in your wallet overview.
On the lower left you'll see a color coded status bar which updates you about time-sensitive news/updates and other features, which is extremely helpful!
Being a desktop wallet means every blockchain asset gets encrypted and stored directly on the user’s computer, hence the user is in total control of the assets every time. No keys are stored on the Exodus servers, however, there is a backup system, and Exodus will send to your email a secure link for the reactivation of your wallet. One thing to note is that you can only use one wallet per computer so you will only have access to your funds from that particular computer, so make sure everything functions well before storing your assets.
The Exodus team truly cares about their clients and has constant updates for their wallet, which they will notify you about straight from within the platform itself.
Recently, a new feature was introduced by the Exodus team, which made it possible to retrieve personal 12-word passphrase with the click of a button. The only downside of the Exodus wallet is the absence of the 2-factor authentication.
Getting the Exodus wallet is as simple as visiting their official website, and downloading the wallet directly to your computer, then installing.
Their help desk is a great feature, especially since they will get back to you in a timely manner to help you with any questions you might have (from what I've noticed).
Overall, I haven't used any other wallet except for cold storage or MyEtherWallet for ERC20 tokens.
There are so many wallets out there, but Exodus stands out among the rest as far as capability, functionality, updates, security, and staying on top of the market, hence it is recommended that you try it out.
**This is not investment advice (I am not a financial advisor or accountant). Do your own due diligence always!