Exodus | ChangeHero

Table of Contents

1. About Exodus
2. Edge Wallet Pros and Cons
3. Final Verdict
4. FAQ

About Exodus

Exodus is a multicurrency software wallet with over 100 cryptocurrencies listed on its platform. Exodus grabbed the attention of traders due to its intriguing design and user-friendly interface. Exodus was launched in 2015 by the developer-designer duo JP Richardson and Daniel Castagnoli. It was developed with aims to remove the geeky nature of blockchain and make it fun to use the cryptocurrency.The project aims to be a safe, reliable and a trusted cryptocurrency wallet. It enables the users to secure, manage and exchange cryptocurrency without any head-scratching. Exodus claims to empower people to control their wealth and its non-custodial nature backs their statement.

Edge Wallet Pros and Cons

Pros

Feature-essentialistic
Exodus is designed for freshmen in the crypto world and offers the simplest way to store and manage crypto. It also offers a versatile design with useful charting tools and customizable user interface. Exodus Wallet can be used on various operating systems like Windows, Mac and Linux. Additionally, there are iOS and Android apps that can be synced with the desktop version for trading on the go. The in-app exchange feature allows the users to exchange cryptocurrencies instantly.
Non-custodial
The wallet is a non-custodial service and doesn’t store the private keys of its users. Exodus doesn’t require any registrations or personal information, user’s private keys and transaction data are all encrypted in the user’s local device. The wallet is compatible with Trezor hardware wallet and lets users manage their portfolio with robust security.
Customer-oriented
Exodus also offers two ways of restoring your wallet in case of a loss of the device (computer or mobile) in which your wallet is installed. You can either recover the wallet and funds with the 12-word passphrase or through the email restore link. Exodus is also well-known for its quality support among the crypto community.

Cons

No 2-factor authentication
You cannot set an authentication code or SMS 2FA for an Exodus wallet because they do not collect user information. The best bet to keep your assets secure is to set a strong password and keep a recovery phrase secure.
Partially open-source
Unlike many other crypto wallets, Exodus is open-source only partially. The official reason for it is customer protection: they remind us that it is very easy to make a malicious fork of an open-source project.

Final Verdict

Despite all the handy features, Exodus raised concerns for its lack of two-factor authentication and multi-signature support. Besides, it also lacked a feature of purchasing crypto assets with fiat currency in the In-app exchange section. All in all, Exodus is a simple-to-use cryptocurrency wallet with decent security features.

Category	Rating
Security	50/100
User-Friendliness	60/100
Popularity	75/100
Supported Coins	70/100

FAQ

Is Exodus Wallet safe?

Yes, Exodus wallet has a good reputation with crypto users for its relative user-friendliness and adequate security measures.

Is Exodus a cold wallet?

No, Exodus is a hot (online) software multi-currency crypto wallet. It supports Trezor cold wallets, so you can get both for the maximum security of funds.

What platforms can use the Exodus wallet?

Exodus wallet is available on iOS and Android smartphones, desktop computers, and in Chrome and Brave browsers as an extension.