Exodus cryptocurrency wallet has gained a reputation as a safe and convenient device among CIS users. Where does such a characteristic come from, isn’t it just an ordinary advertisement or cheat? The cryptosphere, full of unreliable projects, makes every cryptoresource thoroughly checked before use, and especially the places where money is stored. Does the Exodus crypto wallet justify its reputation? We will describe in this article!
Exodus cryptocurrency wallet: history of creation
The Exodus crypto wallet appeared in 2016 on the basis of the BankToTheFuture crypto crowdfunding platform. Resources such as Bitfinex, Bitstamp, Kraken, ShapeShift started here, so we can say that BankToTheFuture investors have experience in choosing reliable projects.
The first collaborated with design departments of companies such as Apple, Disney, BMW, Nike. Exodus is obliged to it for its comfortable and functional design, about which every second wallet user responds positively.
J.P. Richardson worked on the technical part based on the extensive experience gained in the development of more than 150 successful projects. Many of them are open source. This allowed investors to assess the professional qualities of Richardson and make sure that the Exodus project has a chance of success.
How does the Exodus cryptocurrency wallet work?
A thin wallet is a relatively small program (about 75 megabytes in this case), which, unlike thick wallet, does not require downloading the entire blockchain, but synchronizes with it when connected to the Internet, transferring money and other operations.
“Desktop” Exodus suggests the possibility of installing it only on a computer or laptop – phones and tablets are excluded, as well as there are no browser versions or extensions for other programs.
The internal currency exchange function is provided by the built-in application from the ShapeShift exchange. Only the currencies listed above will be converted inside the wallet – no additional and no fiat.
How to create a purse for Exodus cryptocurrency?
You will need to download the program file for your system on the official website of Exodus.io. Developers regularly post new versions and recommend downloading them, since they are the most secure and functional.
For example, those who wish to receive Bitcoin Gold coins under general conditions will not be able to do this in versions 2017 and 2018. Also in the latest versions of Exodus added new cryptocurrencies.
The feature of Exodus is that the user configures the wallet, receives keys, and so on after installation, and not during. Moreover, to access certain functions, such as getting a seed-phrase and others, you will have to credit at least the minimum amount of any supported coins to the account.
You can begin to fully configure and retrieve all useful user data after installing and opening the wallet. In particular.
The user can see the status of accounts, send cryptocurrencies to selected addresses, or exchange them on the other tabs using an internal exchanger.
Many users have problems with obtaining private keys from wallets – to the extent that in various forums one can read that the Exodus does not give private keys to users. Nothing of the kind, you can get them, they are simply “hidden” for security reasons.
You need to go to the Developer menu (for Windows or Linux users, Ctrl + Shift + D, for Mac users there is a separate line in the menu), select the Assets line (Assets, Your Desired Asset) ), and then – “Export Private Keys” to find out the key from a specific wallet.
The main thing is to save the keys so that no one, including virus programs, can access them, because with their help you can use the wallet not only from Exodus or from the user’s computer, but from any device.
Should I use a Exodus cryptocurrency wallet?
You can store cryptocurrency in it without any special concerns. Only those who are satisfied with the automatic high commission can transfer and exchange it at any time.
Users who do not want to pay pools so much will have to wait for more digestible commissions and waiting can sometimes take a lot of time. During this period the user can manage to withdraw the currency to another wallet and send it from there, specifying a lower commission than in Exodus.
It is curious that sometimes the first or second block includes transactions with a commission of one and a half to two times less than in Exodus. This means that sending money from another wallet can be at one and a half times cheaper than from Exodus.
Nevertheless, of course, Exodus is a good option for those who make crypto transfers rarely, but wants to be sure that everything will be fine with the money and is ready to pay for it.