What Exchange Does Exodus Use
The Exodus wallet is a multicurrency cryptocurrency wallet that has generated a great deal of fizz since its launch back in 2016.
It is a well-designed wallet that is aesthetically pleasing and packed with numerous features such every bit an option that allows users to stake assets directly within the wallet to earn passive income, and users tin can fifty-fifty exchange cryptocurrencies within the wallet. Exodus wallet supports over 145 assets at the time of writing with back up for additional assets in the pipeline, and their instant exchange integration feature allows users to bandy over 100 supported digital currencies, meaning the coins never have to leave the safety and security of the user's own wallet.
Even so, is the wallet still safe and reliable?
In this Exodus wallet review, I will requite yous everything that you need to know well-nigh the wallet by earthworks into their security, reputation, and some of the features available in the wallet. I will also give you some summit tips when using Exodus and storing your crypto.
Ideal Exodus Wallet User
Exodus was built with an easy to use interface, perfect for new users, only robust and secure enough for crypto veterans, making it platonic for virtually mainstream crypto enthusiasts who are looking for a secure, easy to utilise, beautiful wallet that offers a whole host of functions and features. It's also a great choice for those who concord a variety of popular coins since information technology supports over 145 different cryptocurrencies, with more existence added all the time.
Benefits of Exodus wallet
The Exodus desktop wallet is currently available for Windows, Linux and Mac OSX operating systems for desktop, and a mobile version available for both IOS and Android. All the available versions tin can be downloaded from the Exodus website direct, or institute in the Apple App Store and Google Play Store.
Exodus Wallet Security and Trezor Integration
Exodus wallet is as condom and secure as a software wallet can be, keeping in mind, equally with any desktop or mobile cryptocurrency wallet, Exodus wallet is only as secure as the device it is installed on. If the device that holds a cryptocurrency wallet has a virus, malware, or is compromised, the security of the wallet is at run a risk. Exodus have written an extensive in-depth article on all the all-time practices to follow to go on your crypto safe which is worth reading for any crypto user.
Article From the Exodus Knowledge Base on how to Shop Cryptocurrency Safely Paradigm via Exodus Support
One of the largest criticisms against Exodus wallet from users is the lack of integration with traditional two-factor authentication methods such as Google Authenticator or Authy. In that location are ii reasons that Exodus opts not to offer support for features such equally email backups or 2-factor hallmark. One of the reasons is due to potential security breaches and hacks of a user's electronic mail, Exodus wanted to limit reliance on the security of third-party applications.
The other reason is that Exodus, above all else, believes in the privacy and non-custodial rights of their users, as they believe in their communities' right to privacy and decentralization. Exodus the company, does not collect whatever personal information on behalf of their users and therefore, electronic mail backups are not supported and in order for two-factor authentication to work, the company needs to shop a database of user accounts on their servers.
Since the Exodus wallet creates, encrypts and stores all of the user's data on their local device, adding the support of traditional two-gene authenticator methods was non a plausible addition to the wallet'south security. You can read more than on Exodus' official explanation of the support of ii-FA to learn more than.
Pro tip: Ensure your device is free of any malware or viruses before using software wallets. Be sure to run top anti-virus programs on your devices, and remain rubber when online, not clicking unknown or untrusted links or downloading untrusted files.
The Exodus wallet itself is accessed with a secure countersign, which should be sufficient for most users. For users who hold larger amounts of avails, or for the security-minded, Exodus has formed a partnership and integration with the Trezor hardware wallet for an additional layer of security. This was Exodus' answer to user requests wanting two-cistron authentication and increased security, Exodus took that request to the next level. The integration of the Trezor hardware wallet with Exodus gives users the security and peace of mind of a hardware wallet while providing the convenient features, functionality, and user interface of the Exodus software wallet.
Exodus + Trezor Integration for Additional Security Prototype via Exodus
Device Support 💻:This will piece of work with both the Trezor Model Ane ($65) and Trezor Model T ($195)
Of course, the main benefit of this is the fact that current Exodus users now have the selection of keeping their private keys offline. With the Trezor device, all authentications and signing are washed on the Trezor device and not on your computer or mobile.
Benefits of Trezor & Exodus Integration
Some users might be put off by the fact that the code for the Exodus wallet is not 100% open-source, only one of the founders (JP Richardson) is considered to be very trustworthy inside the developer community, having contributed over 190 open-source libraries.
They have stated that keeping a few "trade secrets" has immune them to ensure the long term success of the visitor and ameliorate the security of the wallet. Past not open sourcing these disquisitional components it makes it harder for hackers to homemade the wallet and develop phishing versions. Moreover, many of the functional components in Exodus are open up source and bachelor on their Github. You lot can read Exodus' official explanation about open source code for the Exodus wallet on their site.
Overall, the Exodus wallet meets the security requirements expected from one of the most widely used hot wallets, with the Trezor integration making it one of the virtually secure options out in that location for software wallets. It certainly beats online wallets, and many desktop wallets besides. Exodus users go on full control of their private keys, which are generated and stored locally on the user's device.
Exodus Wallet Privacy
The Exodus wallet can be used completely anonymously every bit no personal information is required to download, install or use the wallet. Exodus doesn't collect whatsoever personal information, and private keys also remain fully in the users control. That said, the Exodus isn't focused on anonymity.
Public keys and transactions made with the wallet are fully visible on the blockchain and at that place are no features for hiding your transactional trail. While they do support privacy coins such as Monero (XMR) andZcash (ZEC), they are unable to perform fully shielded transactions for Zcash. If transaction privacy is a chief concern of yours and so you may desire to consider using the core wallets of ZCash, or transact in privacy coins such every bitMonero (XMR).
Exodus Supported Coins
When first released the Exodus supported just a handful of cryptocurrency assets, but in 2021 it has support for over 145 cryptocurrencies and more are existence added all the time. Multi-currency support is one of the stiff features of Exodus.
Exodus Showing Extensive Coin Back up via Their Condition Folio
In fact, you tin can shop any ERC-20 token in the Exodus, even if they aren't listed equally supported. The downside to this is you lot tin can't see the residuum of these unsupported ERC-20 coins in the Exodus wallet. Instead, yous will need to view the balances using an Ethereumblockchain explorer and may need to import your private keys into a wallet that does support the asset in order to transact with information technology.
Y'all can see a total listing of the coins that they support on theirStatus Page and it is a good thought to accept a look hither to ensure your asset is supported before sending funds to your Exodus wallet. The status folio is likewise a great place to check before making crypto transactions to bank check for whatsoever updates regarding network or nugget issues.
Creating a Wallet Backup
When the wallet is offset installed users are given a unique 12-word recovery seed phrase that can be used to restore the wallet if the device that the wallet is installed on is ever stolen, destroyed or lost. This means it is crucial for users to write down this seed phrase and continue it rubber. If you e'er need to restore a previous Exodus wallet, users tin merely download Exodus to a new device and when installing it click the "Restore Wallet" pick, and restore the previous wallet using the 12-word recovery phrase associated with the previous wallet.
Exodus used to provide backup support via email and this is still an selection if you created your wallet prior to Exodusversion 19.2.1. However, given the risks that came with having these links in emails, they take stopped supporting this. If your wallet was created in an earlier version so you tin can follow these steps in club to restore it.
Exchanging Avails Within Exodus Wallet
While Exodus Wallet itself isn't an commutation, the wallet does permit you lot to exchange supported cryptocurrencies with each other directly in the app through the use of non-custodial, 3rd party API Substitution providers which allow users to swap their favourite assets without the need for KYC identification verification.
If you have coins in the wallet and would like to exchange them, and then all you lot demand to exercise is click on the "exchange tab". Here you lot can select the money that y'all would like commutation as well equally which one yous would similar to commutation information technology for.
Choosing the coins to substitution on Desktop Version. Image via Exodus
Once you accept washed this you will need to select the amount that yous are exchanging. You could select preset values such asALL, HALF orMIN. You can as well choose a given amount of the money or even the value in your local currency.
Choosing amount of Exchange
When yous are certain of your purchase weather condition then you can striking "exchange" and the transaction should go through. Given that you will have to wait for the coins to exist sent to your wallet, most of these exchanges will take under 30 minutes.
Once y'all take completed the exchange, you can shut the wallet and the coins should be there when you open information technology upwards once more. If you don't see your coins appear after a successfully completed commutation you may need to refresh your wallet or contact Exodus Support
FTX Exchange
Exodus has recently announced the launch of the FTX Substitution app, accessible direct from within the Exodus wallet. FTX is one of the largest, and fastest-growing crypto exchanges in the world and have worked with Exodus to provide users with the power to exchange assets via the FTX exchange without having to exit the Exodus wallet.
The FTX Commutation app allows users to directly exchange supported crypto assets at market rates directly from within the wallet. The reason that Exodus has partnered up with a centralized exchange is that this will allow Exodus users to bandy avails with greater liquidity, lower spreads and lower minimum amount requirements with some exchange minimums existence every bit low every bit i dollar. The funds from the completed substitution are deposited directly into the user's Exodus wallet.
The first matter users will need to practice is go to the apps browser within Exodus wallet and install the FTX Commutation app. Once the FTX commutation app is open up, users volition need to either log into their existing FTX Exchange account or sign up for a new account. Notation that there is no KYC or identity verification needed to use the regular in-app exchange feature, only there is KYC required to sign up for the FTX Exchange. Users will be able to view their FTX portfolio alongside their Exodus portfolio directly from inside the wallet. Check out the Exodus website to find the stride by footstep procedure of the Exodus and FTX Exchange Process.
On desktop the FTX app tin can be found past navigating hither:
On mobile, users tin find the FTX app by navigating here:
Staking Avails
Exodus offers a way for users to stake multiple assets from directly within the wallet likewise. With the introduction of assets that apply the Proof of Pale (PoS) consensus model, users are able to pale and earn passive income for many of their favourite assets such equally Cardano, Algorand, Cosmos, Solana and more direct from inside the Exodus wallet.
How to Admission the Rewards App Prototype via Exodus Back up
Feel complimentary to have a look at the Exodus Staking Guide to learn how to get started staking in Exodus.
Staking works quite differently amid the various assets that users choose to stake. Some assets require lockup periods, and the challenge rewards function works differently for some avails so be sure to check out the Exodus knowledge base to learn more about the asset you lot would like to stake before getting started so you know what to await. The APY is variable and the electric current rewards can be seen in the rewards app.
SportX
Exodus users can have a little extra fun with the SportX app that is integrated direct into the Exodus wallet. SportX gives users the ability to bet on the outcomes of their favourite sporting matches, Esports, and speculate on crypto prices, all in a decentralized way directly within the wallet without users having to sign up for an account or provide any personal information.
SportX is a leading decentralized sports betting exchange that supports wallet-to-wallet trading of sports outcomes, allowing users to speculate on the outcomes of popular events. The SportX platform is massively popular and their unique integration with Exodus was a striking among users.
Sports & Esports Betting is Fun and Simple Within the Exodus Wallet.
SportX brings crypto and betting together through the utilise of smart contract protocols. The use of smart contracts ensure that user funds remain protected, and the payout earnings are guaranteed and deposited automatically into the user's wallet. The best part is that this is done on the Polygon (MATIC) network, and then user winnings won't exist completely wiped out due to loftier gas fees.
Whether you are into Football, UFC, Hockey, Tennis, Golf game, or League of Legends, Exodus and the SportX integration have got you covered. Non a sports fan? Why non take a crack at betting on some crypto price predictions?
Take a Look at Upcoming Matches and Events and Place your bet
To get started with Exodus and SportX, users will need to install the SportX app inside the wallet. That can be done by accessing the app expanse by clicking on the + area in the top correct:
Once you lot enter the apps area yous will see all the unlike apps supported by Exodus, but click install on SportX and y'all are good to get.
NFT Marketplace and Gallery
In that location is no denying that people dear their NFTs and Exodus listened to user need. The popularity of the Exodus wallet skyrocketed equally information technology became one of the first, and remain one of the very few not-custodial wallets with a built-in NFT marketplace and gallery.
Users can access the NFT gallery in Exodus mobile or desktop to receive, shop, display, and share their NFTs. The NFT gallery supports receiving NFTs on the Solana network.
The NFT Marketplace is where users tin can purchase and sell NFTs on the Solana network from inside the Exodus wallet. Exodus has partnered with NFT platform Magic Eden, the leading NFT marketplace of Solana. The NFT market in Exodus offers an impressive number of verified collections.
Just as with the other apps, to access the NFT market place and NFT gallery, users will demand to install the app from within the Exodus wallet.
On Desktop:
On Mobile:
Prototype via back up.exodus
Once the app is downloaded, users can navigate to their personal NFT gallery or the marketplace where they can buy and sell NFTs:
Prototype via support.exodus
Exodus has put together a robust knowledge article providing users with stride by step instructions and everything they need to get involved with the Exodus NFT gallery and marketplace for your convenience.
Exodus Mobile Wallet
Many crypto users are looking for a way to manage their crypto on the go. Fortunately, the Exodus mobile wallet has the same high-level security, features, and shares many of the same functions as the desktop wallet, making the Exodus mobile wallet one of the well-nigh pop, robust, and functional mobile wallets available.
Exodus Mobile Shares the Same Corking Design and Features of the Desktop App Image via Exodus
Users don't need to accept the desktop app installed to apply the mobile wallet, it is a fully functional stand-lonely mobile wallet, sharing the aforementioned great design and feel as the desktop version. For users who want to apply both, Exodus features an selection to sync mobile and desktop wallets for convenience.
For added security along with a password, crypto users can also enable biometrics on their devices and enable confront or fingerprint scanning to help protect against unauthorized admission. The mobile app tin exist used to bank check crypto prices, rails your portfolio, send, receive, exchange, stake, and access multiple crypto apps.
The mobile wallet app is bachelor for both IOS and Android. Staying truthful to the crypto spirit, there is no KYC or business relationship sign upwardly needed to get started with Exodus.
Send and Receive Crypto Hands with Exodus
Important Note- As with many crypto platforms, there are occasionally fake versions of the Exodus wallet featured on the app shop that are uploaded by scammers looking to steal users' crypto. Be certain to always download verified crypto software straight from the official Exodus wallet download page for both mobile and desktop.
Exodus Goes Public
Exodus closed its Reg A+ public offering on May 5, 2021, issuing 2,733,229 tokenized shares of their Course A common stock and raised approximately $75 million dollars. The shares were open up for buy past the public and were quickly sold out to investors who wanted to become involved and believe in the growth of Exodus as a visitor. Staying true to the Cryptocurrency ecosystem, Exodus released their shares to investors equally "Get out" Tokens on the Algorand Blockchain. The Get out token acts as a digital representation of Exodus shares which users are able to hold direct inside the Exodus wallet equally they would with other crypto avails.
Exodus Exit Shares Being Displayed Direct Within the Exodus Wallet. Image via Exodus Support
Exodus shares are currently available to purchase and sell directly inside the Exodus wallet through an integration with tZERO which is a brokerage account that gives users access to buy and sell digital securities. Users are able to hold Exodus shares in their wallet and transfer them to tZERO straight without leaving their wallet, afterwards creating an account with tZERO of grade and going through KYC verification. Once users create a tZERO business relationship, they volition be able to buy and sell their Exodus shares, along with other digital securities supported by tZERO. The "Leave" tokenized representation of Exodus Class A common stock was priced at only under $28 dollars at the time of launch. You can observe more information about Exodus shares by navigating to the Exodus Investor's page.
User Screen From the Exodus Wallet, Allowing Users to Send Exit Tokens to tZERO for Trading Image via Exodus Support
How Exodus Makes Money
Although the Exodus wallet is not open up source, information technology is nevertheless free to download onto your mobile or desktop device. Exodus does not charge a fee to send, receive, or store crypto assets, nevertheless, if you lot want to apply the built-in exchange selection there will exist a small spread fee added onto the coin commutation charge per unit. The verbal amount will be listed on the commutation section when you are doing the exchange.
These spreads may vary due to the fact that markets have unlike levels of liquidity. For case, you are likely to go much lower spreads on BTC / ETH than you are when exchanging lower market cap altcoins among each other. Users should likewise be aware that along with the spread, there will besides be the network fee that goes to the network miners and validators to process and validate the transactions. No portion of the network fee is charged by, nor goes to Exodus.
Bitcoin Network fee Shown at the Time of Exchange Prototype via Exodus Support
I like the fact that they are fully transparent virtually these spreads and network fees right there at the time of purchase. Moreover, they state that they apply the fees that they generate from the spread to maintain the security and continue the evolution of the wallet, continually calculation support, features and functionality. If this is indeed where the fees are going then it is probably the best style to be spent.
Wallet Back up
Given that the Exodus squad is able to generate an income for the wallet, they are able to dedicate some resource to wallet back up. That begins with the extensive knowledge base of operations on theExodus website, which contains over 100 manufactures that explain the usage, features, troubleshooting, fees and other aspects of the wallet and its usage.
In that location is also an extensive searchable FAQ and if you lot tin can't find a suitable answer yous can reach out to support personnel via email and social media channels. In an manufacture where back up is often a 2d idea, the back up for Exodus tin can merely be described as phenomenal every bit they offering 24/7 365-day support.
It is important to annotation that Exodus does not provide telephone support. Hence, if you happen to run into numbers that are posted online equally "official" Exodus phone numbers, avoid these. They are likely to be a phishing scam and the operators are trying to become their greedy hands on your individual keys. Remember that Exodus support, nor whatsoever support squad should be asking for information such as individual keys or recovery phrases. Whoever holds your individual keys, or knows your secret 12-word recovery phrase has access to your funds and so you should always avert giving that information to anyone claiming to be from a back up squad.
Exodus FAQs
Is the Exodus Wallet Trustworthy?
Aye, Exodus is i of the most well established, reputable, and secure crypto wallets available. The squad behind Exodus are completely public and the visitor itself went public in 2021. The founders of Exodus are highly respected within the crypto community and the team are dedicated to the betterment of the unabridged crypto industry. The company ensures that the wallet passes multiple audits and equally the wallet is not-custodial, the user remains in full control over their crypto assets and the visitor does not collect any personal information on behalf of the user.
Does Exodus Wallet have Fees?
Exodus is 100% gratuitous for users looking to download the app and send/receive crypto. Almost all blockchain transactions incur network or miner fees (with a few exceptions). Other than these transaction fees, 100% of which get to the network, Exodus does non accuse fees for sending. You lot will never pay transaction fees when receiving in Exodus.
Users will experience fees if they choose to exchange assets inside the wallet. Exodus charges a small fee in the class of an commutation spread on swaps made in the wallet, you lot can find out more on the Exodus Fees page.
Is the Exodus Wallet better than Coinbase?
We feel the Exodus wallet is meliorate than the Coinbase wallet for many reasons. The chief reasons are that the Exodus wallet has additional security features that Coinbase does not take, and the design and robust functionality of the Exodus wallet is likewise superior. Exodus has multiple apps integrated directly within the wallet, and at that place are more avails bachelor for Staking.
Was the Exodus Wallet E'er Hacked?
Exodus Wallet, as a visitor, has never been hacked. The wallet undergoes regular security updates and audits to ensure it remains equally secure as possible. It is important to empathise that as a not-custodial wallet, much of the responsibleness with security is in the hands of the user. Cryptocurrency wallets are only as secure as the devices that they are installed on. If a user's calculator is full of malware and viruses, whatever not-custodial wallet is at risk of beingness breached.
Conclusion
For beginning and experienced users with pocket-size to moderate amounts of cryptocurrencies to store, the Exodus wallet is an excellent choice. Its cute design and ease of use has made information technology a favourite option among cryptocurrency enthusiasts.
The add-on of a born exchange makes it fifty-fifty more convenient and versatile, assuasive users to quickly make trades and manage their cryptocurrency portfolio without excessive transactional fees, or having to ship funds to a centralized exchange.
The Exodus wallet does remain a software wallet and a hot wallet for nearly users whose devices are connected to the internet 24/seven. This makes it not as secure as a hardware wallet, but if users are following good security procedures for their PC and online life, then there should exist no concerns.
Overall, the Exodus wallet is an splendid choice for most cryptocurrency users who want to send, receive and store cryptocurrency.
Disclaimer: These are the writer's opinions and should not be considered investment advice. Readers should do their own inquiry.
What Exchange Does Exodus Use,
Source: https://www.coinbureau.com/review/exodus-wallet/
Posted by: smithmanneve.blogspot.com
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