Exodus Wallet Review – A Beginner’s Guide

Last updated: 7/21/19

Exodus is a multicurrency wallet that I usually recommend as an entry wallet for beginners. In this post I’ll review the different wallet features and why I think it’s one of the best wallets around.

Exodus Wallet Review Summary

Exodus is an easy to use multi-currency software wallet that is available for desktop and mobile. The wallet excels in its simple design and superb online support. The main downside of Exodus is its lack of custom network fees.

That’s the Exodus wallet in a nutshell. For a more detailed review keep on reading, here’s what I’ll cover:

  1. Exodus Overview
  2. Exodus Wallet Review
  3. Supported Coins
  4. Customer Support and Reviews
  5. Frequently Asked Questions
  6. Conclusion

Don’t like to read? Watch this video overview instead


1. Exodus Overview

Exodus Movement INC. was founded in 2015 by JP Richardson and Daniel Castagnoli and is headquartered in Nebraska. The company hasn’t reported any outside funding throughout the years and is currently actively seeking to expand.


2. Exodus wallet review

My acquaintance with Exodus started out by accident, when one of our subscribers told me he didn’t like my choice for the best Bitcoin wallet I recommended at that time, and that he used Exodus instead. That subscriber got my attention, so I decided to take a look into Exodus as well.

Exodus is a multicurrency wallet for desktop, and as of recently, for mobile as well (iOS and Android). The wallet creators put an emphasis on design and user interface, making it in my opinion, the most appealing and easy to use wallet around.

Even if you’re just starting out with Bitcoin or cryptocurrencies you would still be able to use this wallet effortlessly. 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.

exodus portfolio

Exodus navigation is pretty simple and easy to understand, there are only 6 main categories:

  • Portfolio – See an overview of all of the cryptoassets you’re holding (as seen in the picture above). Also shows price graphs for different assets.
  • Wallet – Send or receive specific coins.
  • Exchange – Exodus has a built in exchange that allows you to trade between cryptocurrencies without ever leaving the wallet.
  • Backup – Allows you to restore your wallet password or your wallet’s seed phrase.
  • Settings – Security and design tweaks to your Exodus wallet.
  • Help – Watch videos, FAQ, join a Slack chat or email support.

When you use Exodus, the private keys to your cryptocurrencies are stored on your device (desktop or mobile). Additionally, Exodus is a lite wallet so you won’t need to download the whole Blockchain to your device, making the initial setup pretty quick.

Exodus is currently compatible with Mac, Windows, Linux, iOS, and Android. You can also pair your desktop and mobile wallets together so you’ll have control over your funds from both devices.

The wallet is also compatible with TREZOR hardware wallets, allowing you to use the sleek Exodus interface with the robust security of a hardware wallet.

Here’s how it works:

The one feature I think Exodus is missing is custom network fee handling. At the moment Exodus automatically sets the best price to deliver your transactions as fast as possible. This may turn out to be costly when the network is crowded.


3. Supported Coins

Exodus supports 103 cryptoassets in total (coins and token). The most notable coins supported by the wallet are:


4. Customer Support and Reviews

I think what got my attention the most with Exodus is the genuine interest founders have in their users’ opinions. JP and Daniel (the founders) are showing that they’re here to stay.

You can see it in the simple to understand support videos they’ve uploaded, the multiple communication channels they supply on their site and the direct messaging platform to the founders via Slack.

Support can be reached also directly from within the wallet (not just from the site). Here are all of the support options:

Checking out online reviews I found out that Exodus receives an “Average” rating on Trustpilot. However, this should be taken with a grain of salt since there are only 10 reviews available, and the negative reviews aren’t detailed enough.

In the end, most companies receive very poor reviews online, since people write reviews mainly when they are pissed off. So Exodus’s reputation is kept fairly well.

As an Exodus user, I can say that I never had a major issue with the wallet, and whenever I did have a request or question I always got a prompt reply.


5. Frequently Asked Question

Is Exodus Secure?

Exodus is as secure as any software wallet can get. The two main security features the wallet offers are

  • Password protection for your wallet.
  • Automatic wallet lock after a selected period of time.

Exodus also states it’s important to verify you’re downloading the wallet only from a trusted source (i.e. their website). You can verify your Exodus download is authentic using this process.

Additionally, Exodus does not require any registration and the company does not have any access to your private key or information.

One thing to keep in mind is that Although Exodus is built on many open source components, there are components of Exodus that are not open source.

How Does Exodus Make Money?

When exchanging assets through the Exodus wallet, Exodus gets a small commission from the trade. You can read a detailed explanation of Exodus’s business model here.


6. Conclusion

I review a lot of Bitcoin wallets and rarely do I stumble upon a wallet that is truly outstanding as Exodus. For my personal needs, this wallet is almost perfect – “almost” and not “perfect” due to the lack of fee management.

There’s no doubt that if you’re new to Bitcoin or cryptocurrency in general, Exodus will allow you an easy entrance.

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

 

Exodus Wallet

Free
9

Design

9.5/10

Ease of use

9.5/10

Support

9.8/10

Security

8.5/10

Reputation

7.8/10

Pros

  • Great design
  • Intuitive interface
  • Multiple support channels

Cons

  • New company = low reputation
  • Not open source

Bitcoin Video Crash Course 

Dummy-proof explainer videos enjoyed by over 100,000 students. One email a day for 7 days, short and educational, guaranteed.

We hate spam as much as you do. You can unsubscribe with one click.

96
Leave a Reply

avatar
49 Comment threads
47 Thread replies
18 Followers
 
Most reacted comment
Hottest comment thread
60 Comment authors
Zsofia ElekJoe BlackSteven Hayrichard w GrahamAhmed Recent comment authors
  Subscribe  
newest oldest most voted
Notify of
Joe Black
Guest
Joe Black

I’ve been using Coinomi as my only hot wallet with day to day transacting and Ledger for safe keeping of the majority of crypto’s.. Every single comment with folks that have suspicions or negative experiences are spot on. Shame on 99 bitcoins for not being 100% transparent. I don’t even know where to begin with shapeshift. I’m just a regular Joe, not being paid to say and totally recommend Coinomi. No surprises and no headaches with the company.

Ahmed
Guest
Ahmed

Unable to find Dogecoin in Exodus site, Even their Desktop App is only x64 (64bit), but No x86 (32bit) for 32bit Operating system, I have Windows 7 32bit OS, but App not supported..

shane
Guest
shane

Hi I have just got coinbase and made my first ever purchase of bitcoin!! now i have the Exodis Wallet, Can you tell me how i take my bitcoin and put it into my Exodis Wallet plz? I would like to make a purchase eventually and This is my first time buying my Bitcoin and its a lot of money that I am playing with! Kind Regards Shane

Templarknight
Guest
Templarknight

The wallet itself is really excellent in nearly every way. The only problem I see with it ( other than a few security issues ), is that the folks behind it’s design and implementation are most probably engaged in a conspiracy with the IRS and God knows what other agencies. You will notice that whenever you do a transaction like sending to another wallet or exchanging one coin type for another, the last stage of the transfer is delayed for a pointed question. That question, presented just before you press the SEND button, asks you to confirm that you are… Read more »

dee
Guest
dee

I have some LCC in my LCC wallet which is compromised since I had to enter my private key in order to receive them. Does Exodus support LCC, or is there some other wallet where I could put them?

JustMeeh
Guest
JustMeeh

I have been obsessively researching the safest wallet, with the lowest fees, with the BEST variety of cryptocurrencies accepted, and the easiest UI to use. In my searches and research, barring external hard drives like Trezor and Ledger Nano S, I whittled my list down to CoinBase for an EXCHANGE, and 3 wallets that I still can’t decide on. Coinomi Binance Exodus They all work with CoinBase and Coinbase is compatible with Trezor and Ledger Nano S, but reading your website’s articles on all 3 of these companies, you gave Exodus a 9, Coinomi an 8.5, and Binance an 8.7… Read more »

Michael Lasota
Guest
Michael Lasota

I signed up to Exodus wallet because it looked pretty and efficient. The funds grow and drink with the market and that’s nice. PROBLEM: The fees to send money. I have 0.00067132 BTC in my wallet. I want to send it to another wallet, or even pay for an item, the TOTAL COST to empty my wallet is 0.00150893. That’s more than twice the money I even have in my wallet. How does this make sense? I would never recommend a wallet that has such high fees. In Taiwan, $360twd is a lot of money, and I want to use… Read more »

Chris
Guest
Chris

Hi Ofir,

just took your advice and tried Exodus.

The result: I transferred 100 EUR as test to Exodus. 86 EUR arrived. I know the service I used takes 4 EUR, but the other 10? No clue.

Can you help? Do you know where those 10% could have gone?

Thanks!

Chris

Philip
Guest
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?

Gary
Guest
Gary

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