Exodus cryptocurrency wallet review – February 2018

There’s a lot of hype surrounding bitcoin wallet newcomer Exodus, with its versatile design and multi-currency features.

The growth and widespread adoption of cryptocurrency has attracted a dynamic mix of wallet platforms to the market. Exodus, which was founded in July 2016, is one of the market’s newest entrants.

The first thing that stands out about Exodus is its design. It is chock full of charts as well as personalisation features. It also offers access to 11 of the world’s top cryptocurrency assets.

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What is Exodus?

Exodus is a desktop wallet designed to give you complete control over your cryptocurrency assets.

For starters, it’s the first desktop wallet that offers full compatibility with ShapeShift – a popular instant cryptocurrency exchange supporting dozens of tokens. This means Exodus users have access to nearly a dozen cryptocurrencies.

Like other desktop wallets, Exodus stores cryptocurrency assets directly on your machine. Because Exodus is a lite wallet, you never have to download the whole blockchain to your computer.

Exodus's biggest claim to fame is its intuitive, user-friendly platform. The Exodus desktop wallet aims to give you all the bells and whistles to control an entire cryptocurrency portfolio, but it is designed for people who have never actually used an exchange.

Compatibility

  • Windows (64-bit), Mac OS and Linux. Users can also join the Exodus Movement on Slack, a popular messaging platform.
  • First desktop wallet with full ShapeShift functionality.

How much does it cost?

As a service provider, Exodus charges transaction fees each time your payment is processed. The fees themselves are paid to each blockchain network (bitcoin, Ethereum, Litecoin, etc.) and are not kept by Exodus.

Because Exodus prioritises speed and reliability over lower fees, it tracks changes on the blockchain network and adjusts fees accordingly. As such, fees cannot be set manually.

You might be thinking: How does Exodus make money? It does so by taking a small portion of the spread on the major asset exchanges. Typical spreads range between 1-3%.

Which cryptocurrencies can I store?

  • Bitcoin (BTC)
  • Litecoin (LTC)
  • Ethereum (ETH)
  • Dash (DASH)
  • Golem (GNT)
  • Augur (REP)
  • Decred (DCR)
  • EOS (EOS)
  • Aragon (ANT)
  • Gnosis (GNO)
  • OmiseGo (OMG)
  • Qtum (QTUM) (ERC20)
  • Basic Attention Token (BAT)
  • Civic (CVC)
  • SALT(SALT)
  • Bitcoin Cash (BCH)
  • Ethereum Classic (ETC)
  • FunFair (FUN)
  • District0x (DNT)

Exodus has also announced plans to support, or explore supporting, the following altcoins: 0x (ZRX), Bancor (BNT), DigixDAO (DGD), Factom (FCT), FirstBlood (1ST), ICONOMI (ICN), IOTA (MIOTA), Maidsafe (MAID), Metal (MTL), Monero (XMR), NEM (XEM), NEO (NEO), Omni (OMNI), Qtum Mainnet (QTUM), Ripple (XRP), Siacoin (SC), SingularDTV (SNGLS), Status (SNT), Storj (STORJ), TenX (PAY), Tether (USDT), Wings (WINGS) and ZCash (ZEC).

How do I add currency to my wallet?

The easiest way to add cryptocurrency assets to your Exodus wallet is to first purchase them with your national currency (eg, Australian dollars). You can then transfer them to your Exodus wallet for safe storage.

Exodus recommends that you buy cryptocurrency from established exchanges, such as Coinbase. The Coinbase platform is available in over 32 countries.

Details Features
CoinSpot Cryptocurrency Exchange
CoinSpot Cryptocurrency Exchange
Buy, sell and exchange bitcoin and more than 50 altcoins on this easy-to-use Australian exchange.
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Independent Reserve Exchange
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Trade AUD and other fiat currencies against BTC, BCH or ETH at competitive rates.
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Binance Cryptocurrency Exchange
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Trade 60+ cryptocurrency pairs on this up-and-coming exchange based in China. Multi-language support.
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  • Supported countries: Worldwide
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Changelly Crypto-to-Crypto Exchange
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Access competitive crypto-to-crypto exchange rates for more than 35 cryptocurrencies on this global exchange.
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Coinbase Digital Currency Exchange
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Buy and sell bitcoin, Ethereum, Bitcoin Cash and Litecoin on one of the world's most renowned cryptocurrency exchanges.
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LocalBitcoins P2P Exchange
LocalBitcoins P2P Exchange
Trade fiat currency for bitcoin in person or online with this peer-to-peer exchange offering competitive fees and wide delivery options.
  • Fees: 1% commission for each completed operation
  • Supported countries: Exchangers in 248 countries
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Bitit Bitcoin Marketplace
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Buy bitcoin with cash or credit card and get express delivery in as little as 10 minutes.
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Indacoin Cryptocurrency Exchange
Indacoin Cryptocurrency Exchange
Use your credit or debit card to buy bitcoin and other cryptocurrency without having to verify your identity.
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Paxful Bitcoin Marketplace
Paxful Bitcoin Marketplace
Connect with bitcoin buyers and sellers through this peer-to-peer marketplace that accepts cash, credit and more than 300 other payment methods.
  • Fees: Varies by transaction, and PayPal no fees
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BitMEX Bitcoin Trading Exchange
BitMEX Bitcoin Trading Exchange
Trade cryptocurrency derivatives with high liquidity for bitcoin spot and futures, and up to 100% leverage on margin trading.
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VirWox Virtual Currency Exchange
VirWox Virtual Currency Exchange
Buy bitcoin through PayPal on one of the oldest virtual currency exchanges in the business.
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eToro Social Crypto Trading
eToro Social Crypto Trading
Copy the trades of leading cryptocurrency investors on this unique social investment platform.
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Coinmama Bitcoin Marketplace
Coinmama Bitcoin Marketplace
Use USD/EUR to buy bitcoin and Ether with credit card or cash on the Coinmama cryptocurrency exchange.
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  • Supported countries: 226 countries worldwide
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xCoins P2P Bitcoin Lending
xCoins P2P Bitcoin Lending
Buy bitcoin instantly with credit card, PayPal or bank account on this peer-to-peer lending platform.
  • Fees: Varies by transaction
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Cryptex24 Exchange
Cryptex24 Exchange
Buy and sell crypto and other digital currencies on this global fixed-rate exchange.
  • Fees: Varies by transaction
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24/7 Cryptocurrency Exchange
24/7 Cryptocurrency Exchange
Easy, safe and instant way to buy, sell or exchange bitcoin and other popular altcoins like Litecoin and Namecoin.
  • Fees: Varies by transaction
  • Supported countries:Local payment options in 110+ countries
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Go to site

How do I make or receive payments with Exodus?

Transactions over a cryptocurrency network can be made directly through your Exodus wallet. The network charges a transaction fee, which is paid to the network itself and not Exodus.

To send cryptocurrency funds, click the “Wallet” button on the left sidebar and select the asset you want to send. Enter the address of the recipient and click “Send.”

To receive cryptocurrency assets with Exodus, click the “Wallet” button and select the asset you want to receive. For example, if you want to receive bitcoin, your bitcoin address will automatically appear. You can copy this address and give it to another person to receive bitcoin payment from them.

Exodus wallet interface

How secure is Exodus?

As a desktop wallet, Exodus encrypts all your blockchain assets and stores them directly on your computer. This means they are 100% in your control at all times.

The wallet also runs a back-up system, but never stores any of your keys on its servers. This back-up system is helpful in the event your computer breaks down.

In addition to the backup, the Exodus team will email you a secure link to reactivate your wallet. The link is protected by a 12-word passphrase and Exodus “key”.

Earlier this year, Exodus introduced a new feature where you can restore your 12-word passphrase by clicking a button on the password screen.

However, Exodus has been criticised for not offering two-factor authentication, which many other wallets possess. This is something you should keep in mind when securing your wallet.

Where can I get Exodus?

Exodus can be accessed directly on the company’s main website and you’ll be given a link to download the wallet directly to your computer.

Exodus: The good and the bad

Pros

  • Good interface with powerful charting tools
  • Ideal for the cryptocurrency trader or portfolio builder
  • Access to nearly a dozen cryptocurrency assets
  • Tutorials and videos to guide you through setup and use
  • Engineered for beginners

Cons

  • New company means lower reputation, especially since it is not open source
  • Lack of two-factor authentication, which has raised some security concerns

Next steps

Getting started with Exodus is a few clicks away. By navigating to the main website, you can download the wallet directly to your desktop and begin setting up your account. If you already possess cryptocurrency, you can start transferring them into your Exodus wallet right away.

If you ever run into issues, Exodus operates a Vimeo page (available directly to the site) with tutorials that can help you get started.

Compare Exodus to other crypto wallets

Name Product Wallet type Supported Cryptocurrencies
Hardware
BTC, BCH, BTG, ETH, ETC, LTC, DOGE, ZEC, XRP, DASH, STRAT, KMD, ARK, EXP, UBQ, VTC, VIA, NEO, XST, XLM, HSR, DGB, QTUM, PIVX
Securely store some of the world's most popular cryptocurrencies on the Ledger Nano S hardware wallet.
Hardware
BTC, BCH, BTG, DASH, DOGE, ETC, ETH, ERC20, LTC, NMC, ZEC, NEM, UBQ, EXP
TREZOR hardware wallet is a secure way to keep your cryptocurrency safe from hackers and malware.
Hardware
BTC, BCH, DASH, DOGE, ETH, LTC, NMR
Protect your digital assets from hackers with the virus- and malware-proof KeepKey hardware wallet.

Compare up to 4 providers

Frequently asked questions

Image source: Exodus Wallet

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3 Responses

  1. Default Gravatar
    phillogan56January 26, 2018

    Can I have a copy of my wallet on more than one computer and access the exchanges?

    • Staff
      RenchFebruary 1, 2018Staff

      Hi,

      Thanks for your inquiry.

      Yes, that is possible. Since Exodus can be accessed directly on the company’s main website, you can log into your account from a different computer and then download the wallet directly to the computer you are using.

      Cheers,
      Rench

    • Default Gravatar
      February 1, 2018

      thanks yes it worked

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