Get the detailed Exodus wallet review here in this article. Find how useful Exodus wallet is for investors to keep their digital assets safe. This is a review based article where we will be sharing the detailed Exodus Wallet Review which will include pros and cons, fees, portfolio, how to use exodus, list of cryptocurrencies and etc. Here the readers willing to buy cryptos and digital assets and searching for the best wallet to store these digital assets in will get their required answers here in this article. The present post will give answers of all the questions that are there in your minds.
EXODUS Wallet Review:
After the incidents had happened with Poloniex exchange and with many other companies which were hacked and were asked for Bitcoins and other currencies, the market was very much shaken. People felt like been looted by the cyber criminals. Many investors have almost lost their hard earned money they invested in digital assets. This means that the scope and growth of digital currencies is going to increase above expectations.
But with the rise of market prices, there has been a considerable rise in the risk of storing these digital assets at a safe place. After various virus attaches such as Ransomware have trying to curb all the digital money from the market by threatening the Corporate Giants and Governments and in return demands these coins. Hence we have come up with a one stop solution. This article will guide all the investors about a digital asset wallet that stores all your cryptos and offers a fantastic user interface which makes you feel sober but aesthetic.
Now not keeping much suspense, let us disclose, we are talking about Exodus wallet which is one of the most featured, simple to use and desktop wallet with a handy user interface.
Exodus Wallet-A Versatility
There are many cryptocurrencies available in various exchanges viz. BTC, LTC, ETH, ETC, XRP, XVG and many more. As there are many currencies in the market with high potential, the investors also tend to invest in more than 1 cryptocurrency. But the main problem is that there are no specific storages where we can keep our digital assets safe and secure. Though there are few exchanges that offer wallet services but when it comes to trust and safety there is a big question mark.
So on 29th July, 2016, Exodus wallet took birth allowing these investors with versatility and range of features to store the digital currency. One of the impressive features is that the wallet can store multiple altcoins and gives a very beautiful, clean and sober design. There are a range of digital coins accepts and stored in Exodus Wallet. The list lies as under.
List of Crytpocurrency/altcoins supported by Exodus wallet:
- And many others
Hence, if you are an investor storing in multiple currencies then we suggest you to use Exodus wallet. Moreover the wallet is also getting constant updates and in future will accept and store many more altcoins.
How Exodus Wallet Works?
Exodus wallet is a combination of three (3) different services at a single place. The three things are as under.
Indeed, Exodus wallet allows the users to store their digital assets in it and also offers various features that enables more supremacy. When we open the Exodus wallet, the home screen will show you various options which you can see in the below given image.
On the screen, you will be shown you whole portfolio of the invested cryptos on the screen with the specific amounts. The total value of digital coins you have occupied will be very clear on the screen and a pie chart will make it easier to understand.
If you are not satisfied with this then the wallet is integrated with ShapeShift. This simply means that whenever you want to sell you one altcoins and buy another then you just have to go to the Exchange option and without going to exchange you can make the exchange.
Let us understand it with an example. Consider Mr. A has 1 Bitcoin of value $1000 USD. He wants to purchase Ethereum which has market value of $200 USD. Then from Exodus wallet, Mr. A, if has his account, then can make an exchange by exchanging Bitcoin and receiving Ethereum instantly. And a simple calculator will also help in calculating the latest market value.
So we can now say that Exodus wallet offers us Wallet service along with Exchange and Portfolio services.
Restoring Exodus Wallet
The wallet offers a very good and easy way to secure your digital altcoins. There are two ways by which you can restore your account in case you lost your device.
The easiest and simplest way is the “one-click E-Mail Restoration system”. Whenever a client opens the wallet and creates a new account, they are sent an email with the restoration link. So when they lost the account, to recover, they have to click on this link and have to enter the Password to restore the account.
The wallet gives you a 12 word Passphase at the time of creating the account. This passphase is to be taken due care and not to be given to anyone. When you can’t access your email or may have forgotten your password then you can use this second method to restore your account. But do not misplace or forget this passphrase.
Peoples’ Views on Exodus wallet
The users that are using this wallet are very much impressed with the wallet. They are appreciating the beautiful design of the wallet and the user interface. There are many positive feedbacks the company has received. On Cryptocompare, this wallet is given 4.4 out of 5 stars. The customers are even happy because of the quick and prompt help support team. This feature matters a lot when most of the wallets are lacking here.
Inspite of many features, Exodus wallet lacks one of the most important features i.e. 2 Factor Authentication for the account. In this world when frequently the computers get hack and funds are stolen, this feature is indeed important and a must.
Exodus is a free to download and use wallet. The wallet offers the exchange service which is a paid service, the users have claimed that the exchange fees are very high compared to other crypto wallets. The fees are even higher than the exchanges.
But we are sure that all the flaws in the wallet will be soon removed by the company.
Is it secure to keep funds in Exodus wallet?
Inspite of all the positives of the wallet, Exodus is not a cent percent open source wallet. It directly means that you are putting your investments by putting trust on the management and development team of the wallet. J. P. Richardson, CTO, has managed to open over 190 source libraries and is been trusted by the whole community.
Being new to market, the wallet is facing lack of time to implement this security feature compared to many other rival wallets. As there is no 2 factor authentication your blockchain assets are secured merely by a password which may be at a huge risk from malicious software programme.
However the company is under progress and processing to have an update eradicating their security flaws and other cons.
At the end, we can say that if you are having a small amount of investment and just want to store your assets only then use Exodus. If you have a high amount of investments and want to trade or exchange regularly then we advise you not to use Exodus wallet.