DeepDotNet 
I have to admit when I first heard about the exodus wallet I was a little suspicious. A new cryptocurrency wallet? Aren’t these things always scams?
I had never once used a “cryptocurrency” before and frankly, it sounded like some kind of futuristic way to get rich (which is not really my thing). But after glancing over the articles and reviews on the exodus site and hearing how many people were singing its praises.
I downloaded Exodus on my computer and got started.
The first thing that impressed me was that you can set up an alias or “handle” for your account (which is pretty much exactly what we would call a “profile” of ourselves online). I personally called my alias “Bart Simpson”, but you can call yourself whatever you like.
The next thing that Exodus does is give you a “recovery sheet”, which is a series of words that you will be able to use to generate a text file with your password on it. This is important because it means that even if Exodus itself were to go down, the developers would still be able to give you access to your account using your recovery sheet.
Having used the wallet for a while, I can confidently say that this is one of its best features. The recovery sheet is like a safety deposit box for your exodus wallet.
↝ Getting Started With Exodus
After you have set up your account with Exodus, you will want to send it some money. To do that, all you need to do is go to “Account” and then click on the “Wallet” tab. This will take you to your wallet screen where you can either deposit or withdraw funds.
All you need to do is click on the “Deposit” tab and you will be prompted to enter your email address and password.
Once you have entered your email address and password, the wallet will send a confirmation email, which makes sense since it needs to confirm that your funds are coming from a valid account (and not from some hacker!). After sending this email, Exodus will take you through a series of questions that it wants you to fill in.
For example, when I was filling out my profile they wanted me to fill out where I was from; where I work; how much money in USD was in my wallet and they also wanted me to upload a picture of myself (which is kind of weird).
But remember, do not use a picture of yourself that you wouldn’t mind having publicly displayed. Finally, once you have filled out your profile, Exodus will let you know that your account is complete!
At this point, I was ready to start trading and I had a pretty good understanding of the basic functionality of the wallet. But what I didn’t know was how to actually buy or sell cryptocurrency so let’s go through the process step-by-step.
↝ Buying and selling with Exodus
To buy or sell cryptocurrency with exodus, you need to head over to the “Exchange” tab, where you will be able to see a list of all of the different coins available on the platform. The first time that I came here I was pretty confused. There were so many options that I didn’t know where to start!
But after a bit of research on some other cryptocurrency blogs, it turns out that the major coins available in Exodus are: Bitcoin; Ethereum; Dash; Litecoin, and GNT (which is Golem). Given this information, I decided to go ahead and buy some Ethereum.
Now that I had Ethereum, I just needed a wallet to store it in. Exodus has you do this in a few different ways. The first is by going to the “Exchange” tab and clicking on the “Deposit” tab. In my case, however, I was using an exchange called Binance, so instead of going to the “Deposit” tab I went to “Exchange” and then clicked on “Binance”
After clicking on “Binance” in Exodus, I was brought to a page that looked a lot like Coinbase or GDAX (which are exchanges that let you buy Bitcoin). At this point, I was really confused. I had gone to Exodus to buy Ethereum and I was just brought to a page that looked like other exchanges.
But this was because Exodus is actually made by the creator of Binance and Bittrex (two of the most popular cryptocurrency exchanges out there). But again, I was confused because Exodus did not look anything like these other platforms.
To trade on Binance you need to go through a two-step process: first, you need to buy an “Ether” (which is the Ethereum currency). Then, once you have your Ether, you can trade it for almost any other cryptocurrency. This is similar to how when you buy stocks, you need to first buy an “EFT” (Exchange-Traded Fund).
So in this case I wanted to exchange my USD for Ether. To do this I just selected “Ether” in Exodus and put in the amount of money that I wanted to spend. The price was based on the current ETH/USD exchange rate, so it was kind of like I was exchanging $350 for $50 worth of Ether.
After clicking on “Buy Now”, Exodus transferred the money from an account that I had previously opened with Binance directly into my Binance wallet.
At this point, I was presented with a message from Binance asking me to confirm the purchase. When I confirmed the sale via my Binance account, I received a confirmation email from Exodus telling me that my order had been filled and that it had transferred the Ether into my wallet on Binance.
That’s it – now I have access to my new Ethereum wallet on Binance! And this is why Exodus is an awesome wallet – it allows you to trade cryptocurrency so easily and seamlessly! It also makes moving your money between different exchanges a breeze, which can save you a lot of time.
Now that I had some Ethereum in my wallet, I was ready to buy some other coins. To do this, I went to the “Exchange” tab and clicked on “Market”.
On the right-hand side of this screen, you will see a list of coins that you can trade ETH for. For example, if I wanted to buy Ripple (XRP), I would just click on “XRP” and then put in the amount of money that I wanted to spend. Then, Exodus would automatically communicate with Binance and complete the transaction.
That’s it, now I have access to my new Litecoin (LTC) wallet on Binance! And again, this is why Exodus is an awesome wallet, it allows you to trade cryptocurrency so easily and seamlessly! It also makes moving your money between different exchanges a breeze, which can save you a lot of time.
↝ Selling crypto on exodus
Now that I had some money in my wallet (that I made through the process above), I was ready to start trading. To do this, I went to the “Exchange” tab and clicked on “Market” once again. With the amount of money that I had, there were two currencies that I could sell my Ether for (Litecoin and GNT).
So once again, Exodus pulled up an exchange rate for my USD and converted it into Litecoin or GNT based on the current price of ETH/LTC.
After selecting the amount of money that I wanted to trade in terms of GNT, I was presented with another message from Binance asking me to confirm the sale. After confirming this sale, I received another confirmation email from Exodus saying that my order had been filled. When this happened, Exodus went to Binance and completed the sale for me automatically!
↝ Pros
- The wallet gives users complete control over their own private keys.
- It has an easy-to-use interface.
- There are no fees on transactions made with the wallet.
- It’s very easy to make money in and out of your wallet.
↝ Cons
- The user needs to have their own Ethereum wallet set up before they can use this one.
↝ Best Features of Exodus Wallet:
- User-Friendly Interface
- Easy Backup with Recovery Phrase
- Built-in Exchange to Sell or Buy Bitcoin Within the Wallet
- ShapeShift Integration for Easier Crypto Trading
- Integrated with WeChat and Telegram to Keep Track of Your Portfolio – Peer to Peer Encrypted Chat and Secure Messaging System
- 0% Fee and Instant Exchange
1. User-Friendly Interface –
The interface is specifically built for ease of use, we don’t waste time trying to make it pretty! You can get set up within minutes, even if you’ve never used a wallet before, thanks to the “one-tap” quick setup process.
The interface is specifically built for ease of use, we don’t waste time trying to make it pretty! You can get set up within minutes, even if you’ve never used a wallet before, thanks to the “one-tap” quick setup process.
2. Easy Backup with Recovery Phrase
The moment you want to make a trade or sell some bitcoin, just take a screenshot of your information and send it to yourself. We’ve ensured that the picture is simple and clear, so there won’t be any confusion about what is being asked for.
The moment you want to make a trade or sell some bitcoin, just take a screenshot of your information and send it to yourself. We’ve ensured that the picture is simple and clear, so there won’t be any confusion about what is being asked for.
3. Built in Exchange to Sell or Buy Bitcoin Within the Wallet
We have integrated a secure and easy way to exchange bitcoin into your Exodus wallet at a time of your choosing
We have integrated a secure and easy way to exchange bitcoin into your Exodus wallet at a time of your choosing
4. ShapeShift Integration for Easier Crypto Trading –
ShapeShift is the fastest most secure way to convert between cryptocurrencies. With ShapeShift, you can instantly switch between coins with just one click of your mouse. This makes for an excellent tool when trying to decide which cryptocurrency is best suited to trade in for which one.
ShapeShift is the fastest most secure way to convert between cryptocurrencies. With ShapeShift, you can instantly switch between coins with just one click of your mouse. This makes for an excellent tool when trying to decide which cryptocurrency is best suited to trade in for which one.
5. Integrated with WeChat and Telegram to Keep Track of Your Portfolio –
The next time someone asks you what’s up with blockchain technology, you can show them how easy it is by simply using this tool for their own portfolio. Simply send them a QR code that they can scan using their WeChat or Telegram app to check how much BTC you have in your Exodus wallet.
The next time someone asks you what’s up with blockchain technology, you can show them how easy it is by simply using this tool for their own portfolio. Simply send them a QR code that they can scan using their WeChat or Telegram app to check how much BTC you have in your Exodus wallet.
6. 0% Fee and Instant Exchange –
They’re making exchanging your bitcoin into Ether fast and free. Now when you go to spend your bitcoin or other digital assets, you no longer have to worry about how much the fees will be.
↝ Summary
The Exodus Wallet is going to be a great tool for people who are already making use of their own wallets. While not everyone is using this type of service yet, there is no question that in years to come it will be very common. One thing that surprised me was the fact that it does not require you to deal with long keys and complicated wallet addresses. The user interface is really very neat and makes everything extremely easy to understand. All in all, Exodus has created a solid product for people who are looking for a better way to handle their cryptocurrency affairs. The security features alone make this product superior to the rest of the market, and I am sure we will start seeing more perks added as time goes by.
↝ Exodus Wallet Review: Conclusion and Rating
The Exodus Wallet is a great way to store your assets safely, especially since it’s very easy to use. It also has a great interface that is simple to work with, and it’s got some pretty handy features. With that being said, I think the Exodus wallet also presents some potential downsides as well.
The first downside is the lack of multiple language support, which may be a turn-off for some people who prefer to use English or would like a different language option.
The second downside is that it’s not as secure as other desktop wallets we’ve reviewed. For example, something like Jaxx allows you to make your own password and choose the length of time you want to hold it in memory before deleting it from your system. The wallet also encrypts your key, which means that the private keys will be protected from theft.
However, Exodus uses an in-memory encryption technique to store your blockchain assets and private keys derived from it. When you log in for the first time and enter a password, all of the funds on your account are stored encrypted within the application.
This means that you can’t access them unless you use the recovery seed provided when setting up your account. You may want to consider using a different wallet if these features aren’t important to you – there are many more secure options out there such as Jaxx and MyEtherWallet.
I hope you have enjoyed this guide! This is the first time that I have used Exodus myself. If there are any errors in this guide or if there are better ways to do things, please let me know in the comments below! And if you have any questions about this process, feel free to ask in the comments area at the bottom of this page!
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