wallet

Is exodus still a good wallet?

Is exodus still a good wallet?

The digital world is a fascinating environment because sometimes you may encounter things that leave you shocked.

Take the currencies, for example. There were times when people only would use money in the form of metal or paper. Still, as we evolved, some companies, including Apple, started coming up with platforms like Apple pay that allowed you to make purchases from your phone without touching any physical money.

However, this application connected your phone to your bank account.

Time passed, and then came the cryptocurrencies.

A newly found network called the BlockChain started developing tokens or coins in this network that had real-time value, meaning that they could be used as the capital currencies you see daily.

After some time, cryptocurrencies became the new trend, making them popular among virtual world users. Then people would use this innovation to make money and earn a living.

There’s a lot that you can do with a cryptocurrency these days; however, to do so; you will need a specific application to connect yourself with the BlockChain network to perform certain transactions.

These platforms are called crypto wallets, and in today’s article, we will be talking about a specific wallet that we have in mind.

The Exodus wallet.

We will discuss all of the subjective of this wallet and whether the Exodus is still a good wallet or not?

If you are ready, let’s, get started with the article and see what the deal about the exodus wallet is?

more content: Best cold crypto wallet 2022

Pros & Cons explained.

When using a centralized platform to manage your crypto life, you must know all of that wallet’s pros and cons. In the end, you will be able to use the wallet just fine.

In this article section, we will discuss the best and worst parts of the Exodus wallet and then decide how we can use it.

Now let’s get into the details of the Exodus wallet and see what makes this wallet unique:

EXODUS LOGO

Pros of the Exodus

One factor that makes Exodus one of the best wallets in the crypto world is that sometimes you need a simple interface to perform all of the actions in the crypto world.

And some wallets have complex UI, meaning users often get confused in the application.

But the Exodus wallet has one of the most straightforward interfaces that we have ever seen in our career.

Henceforth, the Exodus would be a great option.

The second factor is the supportiveness of the coins; this wallet supports more than 150 coins on its platform, so you would have a great time finding the coin you are trying to trade or invest in.

Cons of the Exodus

One factor that drops points from the Exodus wallet is the lack of focus on the trade and investment fees.

Usually, all the wallets have specific fee rates; however, the matter is much more complex regarding Exodus.

The fee rates are a certain percent at the standard conditions, but when the price of the coins comes in, it changes the whole equation and therefore makes it hard to sort the fee rates out of the actual value of the coin transaction.

This state of unclear fee rates can cause much trouble when trading a sensitive asset like BTC.

So, this can be the worst side of the Exodus wallet.

Security

One of the other factors that can make a decent crypto wallet is the security of the crypto platform because most of the wallets we have seen don’t have a specific security profile, and therefore they are not trusted.

This section of the article is dedicated to the security of the Exodus wallet and how it will affect your crypto experience.

When it comes to security, it comes in several phases that define the safety of the wallet altogether.

  • The first phase is the custom password that the user sets when creating the wallet, which is not the best security wall on its own.
  • The second phase is the security key that the wallet generates, and you have to keep that key phrase in a safe place to recover or log back into your Exodus account.

 

  • And the third phase is the two-step verifications and security protocols to maximize your wallet’s security level.

However, the exodus wallet has only two of the factors mentioned, so we can say that the security of this platform is decent but not perfect; on the other hand, wallets like Binance have the best security factors in the world.

So when talking about security, the Exodus doesn’t pass the test.

Because the most critical factor of every crypto wallet is confidentiality, and encryption comes from security factors.

Setup (+ 3 EASY STEPS)

Like any other wallets in the crypto world, the exodus wallet also needs setup.

By setup, we mean you have to download, install, and set it up with your information.

This document section will discuss the brief instructions on setting up the exodus wallet.

So, let’s get right into the instructions:

Step 1

Download the exodus app from the official website and install it on your mobile or desktop.

After the process, you must create your first account; let’s see how?

Step 2

Setting up this wallet is quite effortless; you only have a piece of paper, a note, and your phone.

First, the app will ask you to add a security password to the application; keep in mind that a secure password should contain letters, numbers, and characters.

After the pass is set, the application will offer you a safe phrase that you have to write down or memorize.

Step 3

After this step, you will have a whole functioning piece of exodus wallet; however, keep in mind that you must preserve the safe phrase just in case anything wrong happens.

These were the simple steps to creating an exodus account; now, let’s get to the next section of the article and talk about the usability of the Exodus wallet on desktop.

Shall we?

Usability Desktop

Like the other crypto wallets, the exodus wallet has its desktop version available on its official site.

When trying to get the desktop version of the Exodus, ensure that you get it from the official site because some web pages use corrupted applications to steal your information.

So be careful.

The desktop version of the Exodus wallet is just as practical as the mobile version, meaning you can perform all your desired actions on the desktop version.

One of the other factors that help the exodus to be a better wallet is the support for solid wallets.

Physical wallets are devices that can store your coins in the form of a USB drive.

And the exodus wallet supports most of the hardware wallets on the market.

If you want to explore solid wallets, we advise that you look them up and then act on getting one.

Because not everyone should have a solid crypto wallet.

In the end, we can say that using the desktop version of the Exodus wallet is very practical for some individuals. Still, if you want your purse available on the go, you have to use the mobile version, and in our opinion, using the phone version of the Exodus is much easier.

Now that you know everything about the Desktop version of the exodus wallet let’s get to the last section, which is this wallet’s fee rates and costs.

Let’s go.

Cost & Fees

When it comes to the fees and costs of a crypto wallet, usually, the wallet system defines these numbers but not

a departure.

When making a transaction in the exodus platform, the transaction fees may differ from network to network, meaning that in trading BTC, you have to pay the price based on the BITCOIN network, and in the ETH, you have to do it in Ether.

So as you can see, there are no specific fee rates for the Exodus platform; however, the rates can also change on another factor.

Another factor that defines the fee rates is the price of the coin and the transaction itself, and when the prices go higher, the fee rates do as well.

Ultimately, we can confidently say that using Exodus as a fundamental crypto trader is fine. Still, when you get to more professional levels, you may want to move on to the more professional platforms like Binance or Coinex.

So we conclude that the exodus is a decent crypto wallet, but you must consider a better alternative if you care about security.

We hope the “Is exodus still a good wallet?” article will help you make the right decision. Contact us in the comment section below or on the contact page if you have any additional information we haven’t included in this statement.

 

faraz

Hello my name is faraz. since I was 19 years i've been passionate about content writing. We aim to explain everything about crypto currency investing and we try to help you identify scam projects,

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