Exodus Crypto Wallet Review
The term “crypto wallet” refers to a digital wallet designed explicitly to store and administer cryptographic currencies. The Exodus cryptocurrency wallet is among the many accessible software wallets and is considered among the best. Exodus Wallet is rated highest by trusted resources, including Finder.com and Bitcoin Exchange Guide.
Table of Contents
In this exodus crypto wallet review, you’ll find information about the Wallet’s features, products, pros and disadvantages, supported currencies, and more. However, readers should know that this article does not offer investment guidance. Markets for cryptocurrencies are often unstable. Therefore, before making any significant financial decisions, it is wise to do some homework and talk to an advisor.
Features
Exodus is compatible with seven different blockchains and more than 150 different currencies. Users can buy, sell, and swap currencies on Exodus’ internal exchange. Because of their collaboration, Exodus users may access FTX from within the Exodus app, streamlining the process of sending and receiving assets. A new addition to Exodus, the Lightning Network may now be used to make payments. To sum up, the Lightning Network is a payment method that operates independently of the Bitcoin network. Users of Exodus who use this function will enjoy reduced transaction fees and increased transaction speeds when working with Bitcoin (BTC).
Non Fungible Tokens (NFT) trading in the Exodus NFT Marketplace is another recent addition. The app’s integration with Magic Eden means that users on both mobile and desktop platforms can take advantage of this feature. Exodus users can rest assured knowing that NFT transactions on the Solana network are supported. Therefore, an NFT transaction will fail unless a minimum reserve of 0.01 SOL is held.
Wallet owners can bet on their assets and receive interest on their funds. Thus, users can stake assets they have deposited on the app and earn passive income. Purchases like ALGO, ADA, ATOM, ONT/ONG, SOL, XTZ, and VET/VTHO all benefit from this function with their staking parameters. Finally, Exodus has a relatively regular update schedule, with new versions appearing every two weeks.
Recommendations and Assistance for Customers
The founders’ apparent desire to hear user feedback stood out about Exodus. The company’s founders, JP and Daniel, have established themselves as long-term players. As evidence, look at the clear and concise tutorial videos they’ve posted, the several means of contact they offer on the site, and the Slack channel that allows you to talk to the company’s leaders directly.
The Wallet itself directly links to customer service (not just from the site). The available resources are as follows: Look at some instructional videos. Contact the information desk if you need assistance: a Twitter account and a Slack account Facebook page for email support. They are reading customer feedback on the web. According to Trustpilot, Exodus has an average user rating.
Extremely divisive opinions exist, with some users praising the Wallet for being simple and fun to use and others lamenting one of two problems: Since Exodus sets a faster (and hence more expensive) transaction fee by default, this becomes a severe issue during peak network utilization on the relevant blockchain. While it’s excellent news that Exodus now allows for Bitcoin custom fees, other blockchains like Ethereum still need to get this functionality.
Exodus indeed compromises some security in favor of user-friendliness, but it needs to be clarified how many of these reviews are genuine. You should take these reports of hacks with a grain of salt, but keeping a lot of cryptocurrency in a virtual wallet is still not a good idea. During my time using Exodus, I never experienced any serious problems, and if I did reach out with a query or suggestion, I always received a speedy response.
Conclusion
We look at many Bitcoin wallets, but Exodus is more impressive than I see. This Wallet is nearly ideal but needs to improve its ability to control transaction fees for cryptocurrencies other than bitcoin and ether. The ability to set one’s Bitcoin transaction fees is a positive development. If you’re new to Bitcoin or cryptocurrencies in general, Exodus is the easiest way to get started.
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