What is Exodus Wallet? A user's guide

Exodus is a free-to-use crypto wallet that stores digital assets, including non-fungible tokens (NFTs). It also provides cold wallet compatibility in collaboration with the Trezor One and Trezor Model T. Exodus Wallet has an in-built exchange allowing for easy buying and selling of crypto assets.

What is Exodus Wallet?

Exodus Wallet is a multi-cryptocurrency wallet that allows you to store, send, receive, and trade more than 300 digital assets. It is available to download as a desktop and mobile app.

The wallet supports Bitcoin (BTC), the pioneer cryptocurrency, and a wide range of altcoins, including Ethereum (ETH), Polygon (MATIC), and Polkadot (DOT), as well as stablecoins like Tether USD (USDT), USD  Coin (USDC), and Dai (DAI), among others.

Exodus Wallet allows users to exchange cryptos without the need for registration. However, it is important to note that Exodus is a light wallet that employs Simplified Payment Verification, meaning it does not download complete blockchains.

Instead, it uses a stream of servers to track balances in the wallets, which ensures speedy information retrieval.

Features of Exodus crypto wallet

Exodus crypto wallet has features that make it suitable for professional users as well as beginners. Here is what the wallet has to offer:

• Portfolio Tracker: This is Exodus' most striking feature, both on desktop and mobile apps. When you log in, you see information summarising the performance of your assets displayed on the home tab. It also displays and updates the balance of cryptocurrencies in real time.

• In-built Exchange: Another feature of the multichain wallet is the provision of an in-app exchange that allows users to buy one digital asset with another.

• Staking and Compound: Exodus has DeFi features that allow holders of Solana (SOL), Cardano (ADA), Tezos (XTZ), VeChain (VET), and other Proof-of-Stake (PoS) altcoins to stake them for crypto rewards. Also integrated within Exodus is the DeFi protocol Compound Finance, which allows for lending and mobile liquidity.

• Beautiful Software: One of Exodus's unique elements is its beautiful application software. Its aesthetically pleasing layout allows users to easily swap tokens with just one click. The app does a good job of visualising a user's crypto assets, and the user interface makes navigation easy.

• Security and Privacy: Exodus does not hold information on users’ assets. This is because all private keys and transaction data are stored on a user’s device. This ensures robust security and privacy.

How to use Exodus Wallet

• The Exodus Wallet desktop installation is similar to the app on iOS and Android devices. Here's how to set up your account on your desktop.

• Download the app from the official Exodus website, available for Mac, Linux, and Windows.

• Use the drop-down arrow to find and select the right type of installation file for your operating system.

After successful installation of the Exodus Wallet, the following will pop up on your desktop.

• You will then be required to secure your wallet (note that this is not part of the installation process). To secure your wallet, click the gear icon to access settings.

• Next, click on either the backup or security tab to start setting up your password. Note that using a strong password better protects your account. More importantly, you need to keep this password safe. Don't lose or forget it, as it will be needed to access your Exodus account in the future.

• You will need to unveil your 12-word secret phrase. You can achieve this by hovering your mouse over the numbers to reveal each phrase. It should be kept safe as you will need it to access the wallet if you ever lose access or have to reinstall the program.

-Next, verify your recovery phrase. The Exodus app will randomly give you a number to match with the specific phrase. Click "confirm".

• Your wallet is now set up and ready to use. You can now receive, store, or send cryptocurrencies.

Conclusion

Exodus Wallet is among the best crypto wallets on the market, appropriate for beginners. Its aesthetically appealing easy-to-use UI makes it a good choice for users.

The simple display allows users to view their crypto balances and ability to buy, sell and send digital currencies and swap them with ease without the need for lengthy procedures, as is common with other wallets.