My New Best Bitcoin and altcoin Wallet – Exodus Wallet Review

Last updated on August 25th, 2016 at 12:44 am

It’s been a while since I reviewed Bitcoin wallets. The reason for this is that most Bitcoin wallets are basically the same so rarely do you stumble upon a wallet that is innovative.

Until today…

A few days ago I got an email from one of my subscribers telling me he didn’t take my advice for the best Bitcoin wallet and used the Exodus wallet instead. He then went on to glorify the wallet’s interface and ease of use. I wasn’t aware of such a wallet so I looked it up online and apparently Exodus is indeed a new Bitcoin wallet.

Before going any further watch this video and see for yourself why it’s so unique.

Exodus wallet review

Exodus seemed to have been launched a month ago (July 2016) and still hasn’t gained enough reputation in the Bitcoin community. Actually Exodus is not just a Bitcoin wallet, it’s a “Blockchain assets wallet”. This means you can store Bitcoins, Litecoins, Dash, Ether and Dogecoins on Exodus all together.

But this is not all that makes Exodus so unique, here are the main things that I found so appealing:

Beautiful and intuitive design

Probably the strongest suite Exodus has is its user interface. Even if I didn’t know nothing at all about Bitcoin or cryptocurrencies I would still be able to use this wallet. It reminds me of Circle in the simplicity. Exodus is the kind of product you “fall in love with” the first time you use it, and that’s quite rare in the cryptocurrency world.

Here’s how an overview of your blockchain assets looks like:

exodus bitcoin wallet

Nice huh? :)

Information is stored on your computer

Since Exodus is a desktop wallet navigation is fast and the private keys to your cryptocurrencies are stored on your machine. Exodus is a litewallet so you don’t need to download the whole Blockchain to your computer like you do with Bitcoin Core. Exodus is currently compatible with Mac, Windows and Linux. If you need to back up your wallet there’s a VERY simple step by step wizard built in inside the wallet that will help you do so.

You will also receive a backup link via email if you want to install Exodus on a another machine (say your computer gets destroyed). It’s all very secure through the use of a password and a mnemonic phrase (in case you forget your password).

You can trade cryptocurrencies from inside the wallet

One of the best features of Exodus in my opinion is the ability to trade your altcoins for Bitcoin and vice versa. Exodus has a built in exchange (powered by Shapeshift) that allows you to trade cryptocurrencies in seconds. You can’t buy coins with fiat, but since the whole idea of Exodus is to move away from any verification processes and dealing with banks I think that fits in perfectly.

The founders seem genuinely interested in their users’ opinion

It’s OK to make a crappy product, it’s not OK to leave it that way. I think what got my attention the most is the genuine interest Exodus’ founders had in their users opinion. Of course they are only about a month into running this project but something tells me JP and Daniel (the founders) are here to stay. You can see it in the simple to understand support videos they’ve uploaded, the multiple communication channels they’ve supplied on their site and the direct messaging platform to the founders via Slack.

Is the Exodus Wallet here to stay?

To sum things up, Exodus looks like a complete hit. The only downside I can see at the moment is the fact that the company and wallet haven’t gained enough reputation yet. Combine that with the fact that the Exodus code isn’t open source and you will always arouse some suspicion from the crypto community. Also, in order to become a true killer app the developer will have to continue and expand to mobile as well in my opinion.

But I believe that as time goes by and more early adopters come on board Exodus will quickly gain its loyal user base.

Click here to check out Exodus for yourself

If you’ve had any experience with the Exodus wallet I’d love to hear about it in the comment section below.

Ofir Beigel

Owner at 99 Coins ltd.
Blogger and owner of 99Bitcoins. I've been dealing with Bitcoin since the beginning of 2013 and it taught me a lesson in finance that I couldn't get anywhere else on the planet. I'm not a techie, I don't understand "Hashes" and "Protocols", I designed this website with people like myself in mind. My expertise is online marketing and I've dedicated a large portion of 99Bitcoins to Bitcoin marketing.

Exodus Wallet

Free
Exodus Wallet
9

Design

10/10

Ease of use

10/10

Support

10/10

Security

9/10

Reputation

8/10

Pros

  • Great design
  • Intuitive interface
  • Multiple support channels

Cons

  • New company = low reputation
  • Not open source

Leave a Reply

78 Comments on "My New Best Bitcoin and altcoin Wallet – Exodus Wallet Review"

Notify of
avatar
 
Sort by:   newest | oldest | most voted
Philip
Guest
Member
Philip

I’d be interested to hear from any security buffs regarding Exodus operating on a Macbook Pro with FileVault & Firewall running; i.e.,is it less vulnerable to keystroke hackers; can spoof keys be installed . . .? than macs & PCs without additional security; are we closer to cold wallet security?

Steven Hay
Member
Member
Steven Hay
Hey Philip, I’m no security expert but one thing I’ve picked up is that security is a difficult and continual process. New vulnerabilities are always being discovered (and old ones forgotten about) so it’s pretty much a full-time job to keep up with this stuff. I’d say it’s a bad idea to assume your Mac is in any way safer than the average system. Even if you have firewalls, anti-malware apps and the like, all it takes is a few seconds of physical access for someone to breach your system. Alternately, anyone who knows what they’re doing and/or has the… Read more »
Gary
Guest
Member
Gary

Will I received my new coins from the hard forks if my money is in Exodus?

Steven Hay
Member
Member
Steven Hay
Hi Gary, Exodus have stated that they won’t support Bitcoin Gold. This means that your Bgold coins won’t appear automatically and safely within your Exodus wallet, unfortunately. Users that wish to claim Bgold coins will have to manually export their keys into a Bgold wallet. As this process presents definite risks, I would advise against it until and unless a safe method is established. It would be best if Exodus themselves endorse the method. As for SegWit2X, Exodus have not yet released a clear statement on how they will handle it. They are still in wait-and-see mode. I believe the… Read more »
viriki
Guest
Member
viriki
i just asked exodus support about the segwit2x and this is what answered me: “We are concentrating our efforts on the upcoming SegWit2X fork. As long as you hold the private key for your BTC, all your assets are safe and you will be able to claim any forked coins that may appear now and in the future. Since Exodus is a light-wallet that depends upon information from other services like ShapeShift, BlockCypher, and Bitpay Insight, Exodus’ stance is, to some degree, dependent upon their decisions. The New York Agreement (NYA) or SegWit2x (BIP91) is proving to be a very… Read more »
Steven Hay
Member
Member
Steven Hay

Hey Viriki,

Yes, sounds like they’ll probably give you B2X. If not, you have the private keys with which to claim it yourself, via some other wallet or tool. Of course, you should only use tools or wallets which have been approved by Exodus, to be on the safe side.

Hymer
Guest
Member
Hymer

why does the screenshot show Monero in the portfolio, when Exodus does not support this coin?

Steven Hay
Member
Member
Steven Hay

Hello Hymer,

Good question! I really don’t know why this happened but you’re right, Exodus does not support Monero. I see that XMR is listed as “under evaluation” on the Exodus Wallet roadmap so perhaps it will be included in future.

Marco
Guest
Member
Marco

Very expensives fees!!, they are thieves. I sent 1 U$S in BTC and I paid almost 2 U$S fees!!. I prefer Mycelium

kevin
Guest
Member
kevin

Hi Marco..actually it seems that anytime you want to send bitcoins now on any wallet or exchange, fees are that high…it does not depend on Exodus directly…see this article explaining this issue..that is why they are also many talks on forking bitcoin to bitcoin cash
.
http://mashable.com/2017/08/28/bitcoin-transaction-fees/#b4OJ_Mj1BkqH

…if the link of this article doesn’t work anymore, just google bitcoin transation fees …another interesting link is :

https://bitinfocharts.com/comparison/bitcoin-transactionfees.html

if you see that chart you can see clearly the pricing issue .

Adelle Nothnagel
Guest
Member
Adelle Nothnagel

Hi,
Thank you for a very informative review. I am new to Crypto and bought a few coins which is currently still in my wallet on the exchange.
Can I use Exodus for all my coins i.e.. ETH,PAY,OMG,CVC,NEO,BQX? or do I have to store my coins in more than one wallet.
MyEtherWallet seems to be one where I can store most coins but I like the look of Exodus.
Thanks.

Zsofia Elek
Admin
Member
Zsofia Elek

Hi Adelle, you can store several altcoins in Exodus, here is the list on their website: http://support.exodus.io/article/96-exodus-wallet-roadmap

Adelle
Guest
Member
Adelle

Thank you so much for the info.

hal
Guest
Member
hal

I am a fairly new to the crypto world…i have purchased coins using coinbase and have now moved all my currency to Exodus for better safety…..now my question is….if i want to remove my currency from Exodus to “cash out”, how do i do that….in coinable, i has a bank account attached to it, so that was easy to convert back over, but i do not see anything like that here…..thx.

Zsofia Elek
Admin
Member
Zsofia Elek

Hi Hal, Exodus is a Bitcoin wallet while you can buy and sell Bitcoins on exchanges, like on Coinbase. You just need to send your Bitcoins from Exodus to Coinbase and then you can sell them there.

hal
Guest
Member
hal

sorry, i failed to proof….in coinbase , i have a bank account attached to my currency, so it is easy to convert back to cash

David
Guest
Member
David
Exodus was the first desktop wallet I ever downloaded. It’s beautiful, intuitive, and functional, as you have said. The one fatal flaw, however, are it’s fees. I can send hundreds in Bitcoin from exchange to exchange for literally pennies, but every time I attempt to send money with Exodus, I am slapped with $5 to $8 fees! It’s outrageous as I can actually send cash via Western Union more cheaply. As a result, it’s now just a pretty picture on my desktop when I open it up. I’ve only got $10 left in it and it’s not even worth retrieving.… Read more »
ProbablyDrunk
Guest
Member
ProbablyDrunk

Seriously? That is not good. Guess I won’t be using it then.

David
Guest
Member
David

Yep. Whenever you go to send a small amount of coin (possibly even a larger amount as well>) they slep you with an unusually karge fee, and the claim that it’s to “discourage frivolous transactions.”

ProbablyDrunk
Guest
Member
ProbablyDrunk

Weird. What’s wrong with frivolous transactions?

bill
Guest
Member
bill

A pretty, easy wallet to use until you send your wallet money elsewhere. I transferred $ 32 elsewhere I had to pay over $ 7 a transfer fee !! ie 39 and thighs, I can not recommend the use of this wallet!

bernd
Guest
Member
bernd

Hello guys… you must understand that the transaction fees are not charged by the wallet but rather by the miners to varify and execute the transaction and write into the next block. that can be different at any time – depending on how much traffic the network is having. exchanges have a different system – usually they have the same fees for each crypto currency and pay for the rest to have a satisfied customers who can rely on the same fee for a while (until the exchange adjusts the fees) and also have a fast transaction confirmation.

Craig
Guest
Member
Craig

I have a question:

If, for some or any reason, the Exodus company disappeared from the world, would my Exodus bitcoin wallet still operated correctly? Would my alt-currency still be held safe and transferrable to various recipients and exchanges? I surely do hope the answer is: yes … no problem

Charlie Bass
Guest
Member
Charlie Bass

Maybe a foolish question , however, is it possible to bring funds in USD from a credit card or a bank into this wallet to convert to BTC to move into various programs? Amounts from a couple of hundred dollars up to a couple of thousand dollars? If yes, how do the fees compare to CoinBase in particular?

Zsofia Elek
Admin
Member
Zsofia Elek

Hi Charlie, Exodus is a wallet which stores your Bitcoins. You can buy Bitcoins on exchanges then you can transfer the coins into Exodus wallet. Here you can read more about the different wallet types: https://99bitcoins.com/what-is-bitcoin-wallet-bwbt-3/ and here where to buy Bitcoin with credit card: https://99bitcoins.com/how-to-buy-bitcoin-with-a-credit-card/

wpDiscuz