My New Best Bitcoin and altcoin Wallet – Exodus Wallet Review

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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.

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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
9.02

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

            27 Comments

            1. Design

              9.9

              Ease of use

              9.9

              Support

              9.9

              Security

              8.9

              Reputation

              9.9

              I had an issue with doing 2 exchanges yesterday. When I called the support number (Good Friday) not only did the phone only have to ring once or twice, a human picked up. Not just any human though it was one of the cofounders. He was polite, thoughtful and accommodating to my needs. I’m new to the crypto world. He could have easily brushed off the issue, the company could’ve sent my call straight to voice mail and or many other brush offs. I understand their transaction fees will be higher than most but that is to insure the quickest exchange possible. I’m fine with that seeing as time is the most important currency we have in life. In the end EXODUS will be my go to wallet for any of the currency’s they decide to host. They truly are built on love, respect and innovation.

              • Zsofia - 99Bitcoins support on

                Hey Chase, thanks for the detailed feedback, it is good to see the Exodus customer support is that responsive even during holiday season.

            2. Design

              10

              Ease of use

              10

              Support

              9

              Security

              5.9

              Reputation

              6.3

              Have been using Exodus for about a week now. Very easy to setup and use. Great look and design. exchange of digital coins is very fast and costs are acceptable. Am concerned alittle about security would hope for 2FA to added in near future. Not that worried about open source now. Will be using it this weekend to move btc/eth from us exchange making alot of new changes very fast. also impresseikd with the founders customer service.
              I like Exodus alot.

            3. Luke Parker on

              Design

              10

              Ease of use

              10

              Support

              10

              Reputation

              3

              I love the UX on this wallet and wish all wallet developers would look into upgrading their design to be more like it… Noobs can easily understand it and the ability to trade inside of it shouldn’t be overlooked. Very cool feature.

              Sadly, There are several security flaws; not the least it not being open source. The email restore system simply cannot be hacker proof. Email is the worst medium on earth to send passwords/seeds over; No matter how encrypted or incomplete they are, hackers will see them as a major head start to hacking an account.

              I wouldn’t recommend anyone keeping a lot of cash in these, such as more than you can afford to get out of your next paycheck… But if you want to play around with some small-time altcoin trading? Go for it.

              It’s also a good first wallet for noobs that are just testing the waters.

              • Zsofia - 99Bitcoins support on

                Hey Luke, thanks for the feedback. You are right, security is always one of the most important feature of a wallet.

            4. Design

              10

              Ease of use

              10

              Support

              10

              Security

              8

              Reputation

              8

              As a non-nerd owner of Ether and Litecoin, I was sick of having to download the whole Ether blockchain several times from scratch. Looking for a simpeler wallet I found Exodus and was surprised by the possibility to also store Litecoins. I also imagine that the more coins you have, the more annoying it will be to have a different wallet for each of them.
              At the first glimpse after opening I was struck by it´s logic, beauty and easy to use interface. Before moving my assets I had some noob questions, that where quickly responded by JP. This friendly support contributed to my confidence, I can´t imagine they won´t help you when you have some serious issue.
              While nerds are worrying about open/closed source, I think this app will really make a difference in bringing crypto coins accessible for “normal” users. It´s great! As non-nerd I am not able to judge it´s security and as for the reputation: it will certainly grow when they continue like this. For the record: Mac OS.

            5. Design

              10

              Ease of use

              10

              Support

              10

              Security

              0.1

              Reputation

              0.1

              Exodus wallet has bad privacy and security. The main problems with Exodus are

              * Enforces address reuse.
              * Accepts weak passwords.
              * Closed source.
              * No 2FA.

              These would all be pretty easy to fix and have minimal effect on ease of use. 99 bitcoins why are you rating i5 8.5 for security? FWIW Exodus is the most beautiful wallet I have seen.

              • Enforces addresses and closed source is not relevant for the “security” section IMO however the other two are. I’m going to hand this over to the developers of the wallet for a comment and see their response.

              • Design

                10

                Ease of use

                10

                Support

                10

                Security

                10

                Reputation

                10

                Before I copy and paste my response to your multiple Reddit posts, I’d like to add an addendum regarding the passwords. While I agree our UI with the passwords could be better, it’s very hard to brute-force Scrypt-stretched passwords.

                (my response copied from Reddit)

                Hey James, Exodus co-founder here…

                Thank you for writing this and sharing your thoughts and perspectives with everyone. Positive and negative feedback is what helps us to improve and to build a better product. Without feedback like this, we’d be blind to our own problems.
                I’ll take each on of your criticisms one-by-one…

                > Exodus forces address reuse

                Many people believe that multiple addresses increase privacy for a user. There is a degree of truth in this – if done properly and appropriately (UTXO selection matters). Exodus has always had many change addresses for UTXO based assets (BTC, DASH, DOGE, LTC) – so when you send funds, the change goes to a different address each time in your Exodus wallet.

                Until recently, we forced a single ‘receive’ address. We viewed this decision partially through the lens of a new user. Eventually we got so many requests to change this, that we decided to allow multiple receive addresses for Bitcoin. You wouldn’t believe the amount of support requests we received stating that we had no right to change the customers’ Bitcoin addresses. Wow, did we mess that one up. So we tweaked the feature a bit, so it always shows the first receive address, but you’ll notice there’s more by clicking the right arrow next to the QR code. We started with Bitcoin first to get the UX correct. I’m still not convinced we have it right. When we do, we’ll start allowing it for other assets where it makes sense (not ETH).

                > Exodus accepts insecure passwords

                I agree. We could do a much better job here. I dropped in the this code library from Dropbox https://github.com/dropbox/zxcvbn and never looked back. This is 100% my fault. I should have spent more time on how this all works and fits into Exodus. Moving forward, we may just have to remove the strength estimation altogether or see if we can improve it. I’ll have to put more thought into this, but thank you for pointing this out.

                > Exodus is closed source

                Exodus is not 100% closed source as be seen here: https://github.com/exodusmovement/ – we’re working on open-sourcing more of Exodus.

                Why is Exodus not 100% open-source? Because we haven’t validated our business model. That’s it. In the long-term, we’d like to open-source all of Exodus. I think I have credibility making this claim given how much I love open-source (https://github.com/jprichardson && https://www.npmjs.com/~jprichardson) so I have the track record to prove it.

                However, we do understand that many people will not agree with this decision in the short-term and we are okay with these people choosing not to be our customers at this point. Fortunately there are so many desktop wallets in this ecosystem to fulfill most people’s preferences.

                > there is no 2 factor authentication available.

                We are actively working on a solution to this now. Hopefully this will satisfy the security needs of most people.

                Finally, I want to close by saying that we really appreciate the comments and criticisms. We realize we won’t be the perfect solution for everyone, but we like people telling us where we failed so that we can at least try to be the perfect solution for some.

            6. Design

              10

              Ease of use

              10

              Support

              10

              Security

              10

              Reputation

              10

              Have been dabbling in CC since 2012. Started with BTC, now own (“part owner”) of an Ethereum farm. I have been spreading my digital fortune across the internets with regard to scandalous businesses such as “Genesis-Mining”, to the notorious Mt. Gox and everything in-between) since then with the hopes of better rallying the troops in the CC-scene. My takeaway on Exodus.io;

              The Pro’s:
              – Ridiculously simple to comprehend interface. (“User Friendly”)
              – Just as ‘user-friendly’ on my laptops RAM. (Uses low amounts of memory, have not had a single hang/freeze since first download).
              – They don’t take/charge any “fees” if you receive or send money to or from your portfolio/wallet within Exodus, only for “Exchanges” of crypto-currencies.
              – The fee’s they DO charge for the aforementioned “currency exchanges” are more nominal than most other exchanges I’ve encountered to-date.
              – Last, certainly not the least – Customer Service.
              — Their customer service is the polarizing opposite to any other exchange I’ve ever allowed to hold my Crypto Currencies. Here’s where it gets better…. Out of fear of losing more of my digital-dough, I intentionally held a super low monetary value of CC in this wallet for approximately 1 year, I’m talking very low 3 digits (less than $200). There had been a couple occasions where I felt compelled to call their “Tech. Support” line to see how they handled themselves. I was thoroughly impressed. JP answered the phone after 2 rings and remained on the phone with me for almost 1 hour. Answered many questions I already knew the answers to, but did it with patience. This test I subjected him to was arguably unethical but I don’t feel much harm was made from it since I’m now confessing my mischievous behavior here, for all the internet to see. So his patience did hopefully pay off. I hope this authentic review finds its way out everyone looking for an honorably run company to hold their crypto-currencies.

              The Con’s:
              None. Absolutely none. Maybe one. That there are people alleging EXODUS.IO has “corrupted” their wallets. These false-reviewers (Trolls) are completely inaccurate and also politically incorrect in their allegations. There are redundancies JP has articulated to me that assure me what these naysayers are claiming is total BS. If you’re still skeptical, try downloading the app and transferring a small amount in yourself, like I did. Time will tell and truth will prevail. It always does.

              ONE LAST THING (& kind of embarrassing).
              Earlier this week I mistakenly exchanged a fraction of a Bitcoin for a few Ethereum. I meant to exchange them for DASH though. What further caught me off-guard; after 1 hour of watching the “exchange” run its cycle, I noticed it hadn’t completed itself yet. I called their tech support line (again), and (again) JP himself answered. I explained my dilemma and that’s when he eloquently pointed out I was still operating under the older version (1.3.0), when they had a 1.18.0 in circulation. Essentially what happened was my older downloaded Exodus wallet had an out-dated code written which offered a lower % payout for having the transaction “mined”. Made sense after he explained it, and it was my fault for opening the older version (especially since I also had the newest version on my laptop and installed, I just forgot to delete the old one). He said he would contact me (if I liked) the moment the exchange was completed as he was monitoring the transaction himself on his end so that I could exchange it (again) but for the intended DASH.

              ‘Great, that would be awesome, thank you!’ I said. Genuinely being grateful for his offering.

              THEN, he said/did something I’ve never seen anyone in his industry do! He asked for me to send him my receiving wallet ID# for DASH. Proceeding to explain that he was going to send me some digital currency in the form of DASH for having made this mistake. To clarify – HE DIDN’T MAKE ANY MISTAKE, I DID. BUT I DID IT ON HIS PROGRAM. There should have been no reason for him to feel justified in needing to compensate me at all for messing something up on my end, but he did anyways. Fortunately for him, the money he sent me will ultimately go back to them as I am officially going to be using EXODUS.IO EXCLUSIVELY for all of my CC – CC exchanging needs moving forward. Additionally, I’m expecting this honestly written review find it’s way to all of you readers that are vetting your options and conclude your search after reading this.

              • Zsofia - 99Bitcoins support on

                Hey, thank you for your detailed feedback. We really appreciate this useful review on Exodus.io.

            7. Design

              10

              Ease of use

              10

              Support

              10

              Thanks for these articles, I appreciate that for all your enthusiasm you did not forget to include the part about it not being open source. For other readers, if the complete code is not open to scrutiny, it multiplies potential risk, and with Bitcoin it is more relevant since it is you who is solely and only responsible for your assets.

            8. Design

              10

              Ease of use

              10

              Support

              10

              Security

              10

              Reputation

              10

              So I had an issue with Exodus when it first launched I made sure I had 10 words backed up, I ended up losing the recovery email and I had to restore my computer. So I was trying to restore my wallet and I couldn’t figure it out, so I thought well why not give Exodus a call, (I was personally didn’t expect them to answer as I thought it was a Google Voice, we will call you back etc) but no JP answered I explained what happened, and well he told me currently it wasnt implemented I was think GG Im out of $300, but no JP told me give him 48hrs and he would see what he can do. So 48hrs later I got an email from JP and him telling me he implemented the feature and to update and I can restore my wallet. Since that day he earned me as a loyal customer and fan of Exodus.

            9. Doesn’t allow you to install it where you want. If Windows gets corrupted you’re SOL. If you don’t install Bitcoin apps to the C drive then tough luck.

            10. burningserenity on

              That UI looks fabulous, but the wallet lacks certain features I can’t live without. I’ll stick with Armory.

            11. Thanks for this article, this is exactly what I have been looking for since having problems with an online wallet.

            12. Jorryl Jaucian on

              This Exodus Wallet made me lose a fortune! Thanks to its shitty programming the wallet became corrupted for no reason! Any help would be appreciated.

              • Hey Jorryl, I suggest getting in contact with the developers. They are very responsive and have a very active Slack channel.

            13. Design

              10

              Ease of use

              10

              Support

              10

              Security

              10

              Reputation

              10

              I love this wallet. Its fast and organized like non other. I’ve sent all of my currencies back and fourth with no problems. Also, did I mention it was fast? Just a great wallet.

            14. Design

              10

              Ease of use

              10

              Support

              10

              Security

              9.6

              Reputation

              8.8

              Hiya, Having read about Bank To The Future’s involvement, and being a shareholder there I thought I’d give it a try. I was also a little concerned about holding bitcoins in Coinbase, just because I don’t use them a lot. Anyway, upshot is installation and transfer of funds was a breeze. The Exodus app looks gorgeous too, so thanks for the link:-).

              • I review wallets based on my personal opinion and but everything up front. Just because something isn’t open sourced doesn’t mean it’s not good. I think saying “when your readers get stolen from its on you” is a bit misleading since people need to make their own choices given the full picture – I try to supply that picture as best as I can.

            15. Design

              10

              Ease of use

              10

              Support

              10

              Security

              10

              Reputation

              10

              Excellent wallet! Developers are great to talk to and this is just a great app all around. Works flawlessly on Ubuntu linux.

            16. Design

              10

              Ease of use

              10

              Support

              10

              Security

              9.3

              Reputation

              5.4

              I have been using Exodus since the release. It’s a wonderful assets wallet for sure. And I will continue to use it. I agree that they need a mobile app to link Exodus to, it would make exchanges and transfers much easier on the go. I love the app the company and the devs, I can’t wait to see what they can do in the near future.

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