The list and availability of wallets for your cryptocurrency appears to be endless at times. Starting with the Bitcoin paper wallet and moving through all of the other various wallets from multi coin, centralized, decentralized, desktop, mobile & hardware, the list grows. In this article you will find Intel You Should Know About Exodus Wallet
With a simple goal right up front, Exodus Wallet is being used all over the world and is quite often referred to by entry level to expert users alike as a potential wallet options.
The team that has developed Exodus wallet is based out of the state of Nebraska in the United States. The company was founded in 2015 by
These cofounders set out over 5 years ago to create a service that basically takes the complications off the table and allows you to focus on what you want to; your portfolio.
I had always known of Exodus Wallet from just searching in general. As I wrote in the opening salvo that the list can seem endless, I just never made it around digging in deeper into the content. When you start working your way down the list, there's just not enough hours in the day to make your way through.
After you make your way through Atomic Wallet, Trust Wallet, Guarda Wallet, & the hardware wallets sometimes it's just easy to say, good enough.
Well recently I stumbled upon a cordial group of crypto operators who are all using Exodus Wallet. Respecting privacy of the individuals, but I can still relay what was said about their experience in 3 simple categories.
Ease of Use
Hands down, every person I spoke with had a similar response to how easy the wallet is to use. They all said that it was "intuitive".
I don't know about you, but that description typically is only used when something truly is intuitive. So, I definitely didn't take it as a ploy to pull me in.
In addition, I was relayed stories about how easy the Trezor is to interface. Granted, there was a heavy lean toward Trezor from the group in general. When you look across Exodus website it seems pretty clear there is a slight advantage in using the Trezor.
Here's a quick video about Exodus and Trezor led by one of the cofounders. It seems to affirm what folks have been relaying to me on the simplicity of the integration.
Coverage of Coins
The other area that came up was nearly all of the coins and tokens that everyone was looking to hold positions with were available on the wallet. With the exception of Theta and some much smaller market cap gems such as Rapids Network, everyone seemed quite please with the availability.
Also, another interesting facet of the wallet is the exchange function with those the hundreds of coins that are available.
While not for the savvy investor looking to capitalize on sat and even sub sat movement, the exchange / swap function was quite streamlined. Add your BTC to the wallet from your favorite exchange and then create you portfolio holdings through the exchange / swap function.
While the fees for the exchange / swap function are not the lowest found in the space, most seemed satisfied with the service and ease of use within the wallet.
Lastly, the group discussed the element of privacy that they think they have with this wallet. Especially in regards to the in house swap.
While I don't believe that the wallet is private by any means, what I did notice is that the wallet does not have a google or authy 2FA function. At first glance this could be seen as a flaw or weakness of the wallet.
I found an Exodus Support Article focused on the entire 2FA topic which helped me look at the situation from a different perspective.
According to the article, in order to fully use 2FA capabilities, then some level of Know Your Customer would be needed. How would you reset the authenticators when your phone changes or you lose the app for one reason or another?
Ultimately the Privacy function behind Exodus Wallet is truly focused on your 12 or 24 mnemonic phrase. It's really that simple. Control your phrase. Own the responsibility.
That does require other levels of security from the individual as well; dedicated email address, different & complex passwords for each logon, VPN, etc. As far as Exodus Wallet is concerned, simple is better.
What Are Others Saying About Exodus
As with all things crypto there are all kinds of perspectives and differences of opinions. In general, the reviews and write-ups on Exodus Wallet were more similar than they were disimilar.
All seem to have a few more pros than cons, and in general I would say it appears that the chief complaint by users was the lack of a crypto to fiat option in either an on ramp or an off ramp. Personally, I don't think that's the deal breaker.
In fact, I would see the fiat on and off ramps as potentially complexity that is just not needed. Especially nowadays when you can connect different wallets to different exchanges and work directly as opposed to have to continually transfer to exchange wallets along with the seemingly growing exorbitance in fees for some of the top 10 cryptos.
In this review from 99 Bitcoins the author does a great job of highlighting the simple yet engaging flow with in the wallet as well as what is perceived to be a high amount of engagement from the founders.
That always seems to be a positive note when operating in the digital space.
In yet another review, this time from CryptoVantage the higher level of Pros than Cons is always a good sign.
In addition, both reviews highlight the public reviews of the wallet. As we have all seen in public spaces, the worst reviews are when someone is really ticked off about a particular issue. Even if the issue is rectified to satisfaction, the reviewer will still let it rip.
I have even seen reviews where someone has called the exchange or wallet personnel crooks or thieves, even after someone in "support" helped them fix the situation. As always, Do Your Own Research, but from what I see, Exodus Wallet has kept things on the uppity up when it comes to service.
A list of reviews from Crypto Compare have a wide array of topics and seem to balance mostly on the positive side. Below is an interesting review that even while a year old is still valuable. How many of us have had a BCH to BSV question at one point or another?
Personally, I have never used Exodus Wallet, but see some really interesting utility that will make for good use with a new project, assuming it's compatible with the wallet.
The reviews do not turn any yellow flags for me and from the group that I talked to, it seems that Exodus Wallet is a great option for the masses expected to enter the crypto space as well as others who are currently active.
I believe there is more to discover on the privacy topic, but it looks promising. Ultimately I suspect it all comes down to your on ramp. Definitely more to look at there.
Lastly, while many can be "tinkerers" when it comes to a new wallet, service or application, ultimately everyone wants secure, fast and affordable. Plus a whole string of other "nice to haves", I'm sure would make for an incredible wallet.
For now, thumbs up on the Exodus Wallet.