Trading with crypto requires users to sign up on an exchange so that they can buy or sell their preferred cryptos. But, have you thought about where you will store these purchased cryptos? Well, just like you need a wallet to keep your money, you need a crypto wallet to keep your crypto money. And, that’s where the exodus wallet comes into the picture.
Speaking about this wallet service, we can say that this wallet is by far the easiest wallet to use and get started with. On this wallet, one can store an array of tokens and get the advantage of a wide range of services available on this exchange. However, one needs to be equipped with the details on getting started with this wallet.
So, by the end of the topic, you will be familiar with a lot of topics regarding the usage of this wallet service along with the method to get started.
Reviewing exodus wallet– The pros and cons
- One can easily keep a record of everyday profit and losses in a single place
- Offers support for an assortment of cryptocurrencies
- Comes with a highly user-friendly interface
- Exodus wallet also features auto-adjusting fee
- In case a user ever finds himself in a trouble, he/she can seek help from efficient customer service
Users can easily use this crypto wallet service anonymously as it is integrated with ShapeShift which allows users to trade with it without having to reveal their identity
- One of the major downsides of this service is that it can be easily hacked
- In addition to this, it also lacks on the security side which means your funds may be at risk
- Apart from this, it also does not allow users to undergo crypto-to-fiat transactions
How do you set up an Exodus wallet?
In today’s topic, the next thing that we’ll be talking about is how you can set up an exodus wallet on your device:
- To begin the procedure, you need to go to the exodus wallet official website
- Here you need to make sure that you are not going to any fake website of exodus
- Now, download the exodus wallet software from the website
- After downloading the software, you need to install the software by following the prompts
Using an Exodus wallet for the first time
Now that you have downloaded the wallet software on your device and you wish to learn how to use it, then the following steps would definitely help you do the same:
- To begin the process, you need to open the wallet software on the device you have downloaded it
- After this, you have to find and click on the “wallet” tab
- Now, to add crypto, select the crypto of your choice
- Followed by this, tap on the “Receive” option
- The next screen will show you an address along with the QR code
- Follow the on-screen instructions to complete the course of action
How do you send cryptocurrency from your Exodus wallet?
If you have surplus crypto or you wish to send the crypto from your wallet to another address, you need to follow the steps that are listed below after making sure that you have access to this wallet:
- To begin the procedure, click on the “wallet” tab that is available at the left-hand panel
- Followed by this, you need to select the crypto token that you wish to send
- Hit the “Send” option present in the middle of the screen
- On the following screen, you will see the option to scan the QR code/enter the address
- Do as you are required to do and enter the preferred amount
- Click on the “Send” option to complete the process
List of cryptos supported on exodus wallet
In case you are not sure what cryptos are supported on this wallet, then you can refer to the list below and find out if your preferred crypto is supported on this exchange or not:
- BTC – Bitcoin
- EOS – EOS
- ETH – Ethereum
- LTC – Litecoin
- BSV – Bitcoin SV
- XLM – Stellar
- XMR – Monero
- DASH – Dash Coin
- BCH – Bitcoin Cash
- BTG – Bitcoin Gold
- USDT – Tether USD
- BNB – Binance Coin
However, this is not the complete list of supported cryptos. To know more about it, you can navigate to the official website of Exodus wallet.
Is Exodus wallet safe to use?
In case you want to know about the security of the Exodus wallet and you are wondering if it is safe to use or not, then you must know that its security can be measured as a very moderate one. It does not use high-end security practices to safeguard users’ funds. But, that does not mean that this wallet service is not at all safe to use.
Being an exodus wallet user gives you a variety of benefits to choose from. Since one should use a wallet service only after reviewing the pros and cons, therefore we have listed the complete details of exodus wallet including the pros and cons of this service. Additionally, we have also mentioned the steps to set up and use this wallet service in an easy way.