Exodus Wallet review. Main benefits
Exodus Wallet is a great app for newcomers to the cryptocurrency space. It is one of the easiest wallets to use on a daily basis. Today we will take a look at Exodus wallet as a viable alternative. This review will help you decide if Exodus is the right crypto wallet for you, the installation process and how to use it. Let’s get started.
What is it?
Wallet is famous for its intuitive design, mainly due to these features the application has become so widely known. The app is not in Polish, it is only available in English, but working with it should not cause any problems. Exodus also has features such as a balance tracking module and a built-in ShapeShift exchange. We can easily connect the app with the Trezor.
– Supports and stores more than 100 tokens;
– Understandable and user-friendly interface;
– Anonymous cryptocurrency wallet;
– Huge variety of services;
– Experienced developers.
This platform has reached the pinnacle of security. User’s account is protected by a password inaccessible to third parties. In addition, over time, the wallet is blocked, making it inaccessible to fraudsters. The trading function is provided by the Shapeshift exchange platform. The technology helps users exchange one coin for another in a second. This type of trading is not suitable for professionals, but as a beginner you can try it and see the results. In this Exodus Wallet review, we will look at all of its main benefits
A team of experienced people worked on the wallet’s security and included several advanced encryption methods with a private key. These keys remain under the user’s control and are never transmitted to external servers. Thanks to the backup system, we can, among other things, create a history of transactions made, which can only be accessed by the person who knows our wallet password.
If you need to reinstall the app you can recreate an existing wallet using a sequence of random words, the so-called seed, which was generated during the creation of the wallet. This method provides extra protection against forgetting your password or in case of serious computer problems.
Unfortunately, Exodus is not completely open source, although some of its repositories are available on Github. In addition, the wallet lacks 2FA, so the account is only password-protected. When using this type of wallet, keep in mind that it is as secure as the device it is running on.
Exodus is a free platform, however, it charges a fee for the transactions. There is no exact amount of these fees, but we do charge 2–5% depending on the amount of exchange and the time it takes to process it. The more transactions that occur at any given time, the lower the fee.