Exodus Crypto Wallet Review 2022: Best Crypto Wallet or Scam?
Welcome to Ways2net, today we will be discussing Exodus Crypto Wallet Review. Sit back to enjoy our review as we dive in.
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About Exodus crypto wallet
Exodus is one of my favorite software wallets, the Exodus wallet was launched back in 2015. It has a great design, supports over 100 cryptocurrencies and it’s available on desktop and mobile devices so that you can exchange or control your assets.
The Exodus wallet is built with the beginner in mind and it’s simple to use without all the complex functionalities that you might find in other wallets.
The wallet itself is private and safe as they encrypt the private keys and transaction data for only you to see plus there’s no registration or verification that you have to go through to get started.
You can also manage your crypto in Exodus securely from a trezor hardware device and access apps from right inside your wallet.
Now if you’ve not downloaded it, you can do so from their website and it’s available for windows, mac, Linux, and as well as their mobile apps for the app store and google play store.
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How to set up Exodus Wallet
Once you’ve downloaded and installed Exodus, you can either make your first deposit or you can restore from a backup. before we go-ahead
To set up your security, you’ll be shown your 12-word recovery phase and this is also known as either your backup phrase or your private keys. You’ll need to make sure that you keep these somewhere really safe offline and you’ll be prompted to print from here too, then you’ll need to confirm the words to verify that you’ve written them down correctly.
A few years ago Friend said that he wanted to buy crypto so I helped him buy a thousand euros worth. Then stored it in exodus for him as I felt it’s probably the easiest place for him to keep a track of it without having to overcomplicate things. To restore the wallet now I’m just going to go and put in the recovery seed phrase which was the 12 words that we saw a moment ago.
By clicking on the x icon on the top left-hand side of the screen from where you’re going to see your portfolio tab which is represented by a pie chart at the top of the screen and you’ve got your portfolio value, the 24-hour change, highest balance, portfolio age and then your best and worst performingworst-performing assets.
You also have a list of assets that shows you things like the name, the price, change trend balances, and values.
Note that these assets can be filtered from there by those with a balance and by favorites plus.
You can also add more assets to this list, so you be able to track them. Click onto one of the assets in the list you have the individual wallets which are also indicated by the wallet tab at the top of the screen. it shows the balance of each asset.
You can also check out some price charts and descriptions so that you can discover a little bit more about each different type of coin. It’ll show your transactions for that specific crypto too.
Now if we just click on to send you can send funds across to another wallet or exchange by entering the address lot or the QR code. Once you’ve entered in the amount that you’d like to send it will then show you your corresponding fees at the bottom of the screen
How to receive and send funds on Exodus wallet
If you want to receive funds into your wallet, you can see your receiving address and your QR code. So if you have funded over on exchange, just make sure that you’re sending the funds to the correct type of funds and the correct address.
You can also exchange your specific crypto from there too. Then you’ll have the same repeated information for any crypto that you have in your wallet by clicking ontoon each cryptos name.
Now if you do have a trezor wallet you can transfer funds from your trezor across your Exodus wallet which is another handy way to manage your Trevor hardware wallet funds. This was especially helpful before Trevor’s week came into effect as it was an easy way for you to manage your funds.
Even though there is a trezor suite available, I personally still use Exodus to manage my treasure. If you want to pair your treasure this can be done under your settings and devices.
Also from there, we can exchange any active balance that we have. So if we select the cryptocurrency that we’d like to exchange from. Then if we enter in the amount that we’d like to swap the conversion will then show.
This is not the cheapest way to exchange your funds but it’s a convenient way So you can diversify your portfolio. You can also use exodus for accessing some apps too, also use to increase your profit by earning interest on your crypto.
You can access compound direct without the need to create a new account you can get access to exodus shares and bet on sports using crypto. However, this part will depend on your location
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So let’s take a look at the rewards first. You can earn interest on your crypto through staking, we can deposit the likes of Cardano cosmos and tezos. If we click on to calculate profit and select cosmos as we know that has the best rate we can see.
If we were to deposit 500euro for 12 months my interest would be 9.27 and I’ll make around 351 euros here this is great for crypto that could potentially be sitting idle in a wallet.
Next, we have compound finance where you can only deposit die and it’ll show you the rate of interest. Again you can use the calculator to see what your profit amount will be and I’ve got a full tutorial for compounds available if you want to find out more about them or deposit more varied coins.
Then there are the exodus shares where exodus customers can now reserve interest to participate in their IPO or initial public offering. You can create your investor profile from there now, this feature is new.
Then finally we have sports, which I have a separate tutorial for too. It allows you to bet on sports and esports with a die balance from exodus.
So with all these apps, they’re trying to integrate a lot of different features so that users don’t have to leave the comfort of their wallet just to access some of these apps which can just simplify some of these otherwise slightly more complicated platforms.
You can also connect your devices. So if you have a mobile app you can sync these from there. I’ve got a separate tutorial for the mobile app too as it needed its tutorial.
There’s some personalization that you can do like changing currencies, which I’ll change to dollars, as well as changing backgrounds and textures and styles.
In terms of their support, I’ve personally used the Exodus support a few times
and unlike some other platforms, I found it helpful as they gave a prompt response. So that completes my overview of the exodus wallet.
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