Exodus Wallet Review

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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’ 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’s designed for people who have never actually used an exchange.

As a software wallet connected to the internet, Exodus is inherently more risky to use than hardware wallet alternatives such as Ledger or Trezor.

Exodus Wallet Review

You can store several coins in the wallet such as:

  • Bitcoin
  • Litecoin
  • Ethereum
  • Dash
  • Golem
  • Augur
  • Decred
  • EOS
  • OmiseGo
  • +10 more coins

Support for new coins is constantly being developed as well. You can find a list of coins on their roadmap here.

The Exodus wallet interface is beautiful – plain and simple. Designed for “people who have never used an exchange”, the wallet avoids using technical jargon and you’re able to perform each available action in a straightforward step-by-step process. The design team has even gone so far as to ensure that each icon is pixel perfect to fit in easily with the rest of the layout.

How’s it work?

The Exodus client has three main components:

  • Wallet
  • Portfolio
  • Exchange

The wallet is probably where you’re going to be spending most of your time. Here, you can see the balances of all your coins, monitor your transactions, and send/receive funds. You’re even able to filter your transactions by “sent”, “received”, and “exchanged” – a convenient feature to further help keep you organized. I can’t emphasize enough how impressed I am with the team’s dedication to providing an outstanding user experience.

To get a high-level overview of your holdings, you can check out the portfolio page. Simply designed, this section shows the percentage breakdown of each coin you own and the associated dollar value.

Exodus is integrated with ShapeShift. This means you can swap coins directly in the wallet without having to send them to an exchange. The exchange screen clearly shows the amount you’re going to receive in the swap (both in crypto and fiat values) as well as the current spread of the transaction. The wallet goes to great lengths to ensure that there’s no confusion when making the trade.

If you lose your computer or need to restore your account for some reason, you have a couple options on how to access your assets again.

The easiest way is through the one-click email restore system. When you create an account, you’re sent an email with a backup link to restore your account. Just click on this link and enter your password to complete the process.

You’re also given a 12-word passphrase when you create an account. Do not lose or forget this phrase. If you can’t access your email, or you forget your password, you must enter this to receive access to your account. There is no other way to get into your account if you misplace the passphrase.

How’s support?

Exodus support is A+. Their support site has a knowledge base with over 100 articles explaining different features, fee structure, troubleshooting, and 17 other general topics. Beyond a comprehensive list of FAQs, many of the associated articles include videos to further help you out.

If you can’t find what you’re looking for in the knowledge base area, you’re able to contact the support team via email. Countless reviewers have shared the amazing experience they’ve had working through issues with the Exodus support team. Support tickets are answered promptly, and the company works diligently to fully resolve every issue.

Security

Being launched only in July 2016, there was not enough time to implement all the security features, security features that are included by many other wallets available on the market. First of all your blockchain assets are fully encrypted but secured with bare password protection. Secondly, there is no 2FA (2 factor authentication) which means that if you unknowingly download any malware or other malicious software you will be more exposed to security breach.

Final Words:

If you are a fan of great designs and awesome user experiences this could be your new favorite cryptocurrency wallet. Exodus has taken the attention to details on the whole new level by giving you unique experience. Customer support is great and prompt, they offer a transparent roadmap, a multi-coin support and it is easy to see why the users are loving it.

 

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