Some little-known facts about the Exodus wallet

 Are you someone who doesn’t have much knowledge about the crypto world and just started to explore crypto wallets?

If so, then this blog post will be beneficial to you as we talk about the various aspects of Exodus and whether or not this wallet is the right choice for you.

Exodus wallet basically is a top choice for beginners who have just stepped into the crypto market. The amazing features you receive through it are just mind-boggling if you are seeing it from a beginner’s point of view. 

So without wasting any more time let us look at some of these features. But before we look at that first let us understand Exodus a little. 

What is the Exodus?

Exodus is a software wallet that is used for storing and managing cryptocurrency assets. It supports over 100 different assets, including Bitcoin, Ethereum, Litecoin, and many others. The wallet has a user-friendly interface and offers features such as a built-in exchange, portfolio tracking, and live price updates. Additionally, Exodus stores the user's private keys on the device, providing an additional layer of security. It is available for Windows, Mac, and Linux.

Let us now take a closer look at some of the key features of the wallet.

Prominent features of Exodus wallet

• Multi-currency support: Supports a wide range of cryptocurrencies, making it a versatile wallet option.
• A user-friendly interface: Exodus has a clean, intuitive interface that makes it easy for users to manage their crypto assets.

• Built-in exchange: Exodus has a built-in exchange feature that allows users to trade between different cryptocurrencies without having to leave the wallet.

• Security: Uses very strong encryption to protect user’s assets and also offers a backup feature to protect against loss or theft.

• Live portfolio tracking: Exodus allows users to track the value of their portfolio in real time, including gains and losses.
• Hardware wallet support: Exodus can be paired with Trezor and Ledger hardware wallets for added security.
• Free of cost: Exodus is free to download and use.
• Available on multiple platforms: Exodus is available on Windows, Mac, Linux, iOS, and Android devices.

Let us take a look at how strong the security is at Exodus.

Security of Exodus

Exodus is a non-custodial wallet which means that it does not gather users’ personal information or any sensitive data about the wallet. Instead, the data is stored locally on your personal devices.

The entire platform is backed up with a 12-word recovery phase security feature where users are always in control of their crypto funds. The Exodus wallet is also integrated with security measures like a Face ID and Touch ID. 

Following a two-week cycle, Exodus releases software updates in order to fix any wallet-specific exploits or to remove possible vulnerabilities.

Exodus does not support two-factor authentication, but it supports the Trezor Model T and Trezor One hardware wallets for storing cryptocurrencies offline. All these security measures provided by Exodus ensure that users have their safety and peace of mind while trading at Exodus.

How to set up the Exodus wallet?

Setting up the wallet is a simple and straightforward process and can be easily completed in just a few steps:

1. Download the Exodus wallet by visiting the website (https://www.exodus.io/) and download the version of the wallet which is appropriate for your device.
2. After downloading, install the wallet by following the on-screen instructions.
3. After installation is complete, launch the wallet.
4. Select “Create a new wallet” and enter a strong and unique password. Safely secure and remember your password.
5. Exodus will display a recovery phrase, which you should write down on a piece of paper and store in a safe place. This recovery phrase is very crucial for restoring your wallet in case of loss or theft.
6. Verify your recovery phrase.

That’s it! Once you have verified your account you will be able to start using your account to manage your crypto assets.

Note: If you already have a wallet and you want to restore it on Exodus, simply select "Restore Wallet" during setup, and enter your recovery phrase.

Rolling it up

So this was a comprehensive analysis of Exodus wallet where we took a closer look at some of the prominent features you get to experience through Exodus and how secure Exodus can truly be. We hope that this blog was beneficial to you and now you will be a little less intuitive about whether or not you want to go with this crypto wallet or not.

So till next time

Happy trading and happy investing.