If you are in the market for a new cryptocurrency wallet, we have a look at Exodus. This wallet is secure and easy to use, but it falls short in some areas. For example, it lacks two-factor authentication and charges transaction fees. But it is worth a look for all those reasons and more. It is also very easy to use and comes with a wealth of support articles. We’ve rounded up a few other pros and cons of the Exodus wallet.
An Exodus crypto wallet review will tell you that the wallet has a user-friendly interface and offers an array of popular features. You can easily send and receive coins, and even trade between different cryptocurrencies. The wallet allows you to set up security and design settings, and it also includes a comprehensive knowledge base with articles and video tutorials. While Exodus may not have the best security features in the industry, it’s still easier to use than some other crypto wallets.
Unlike many other wallets, you do not have to give out your private key to the Exodus team. All data is stored locally on the user’s computer. The wallet also provides users with a password and recovery phrase. All of this helps protect the privacy and security of your crypto assets. And, as a bonus, it is easy to access your accounts even if you forget your password. If you need to recover your password, the Exodus team will contact you to let you know.
Lacks two-factor authentication
While many digital wallets today include two-factor authentication, Exodus doesn’t. This is because the company doesn’t support email backups and does not support two-factor authentication. In addition, the wallet does not support multi-signature addresses, which adds an additional layer of security. Multi-signature wallets require the user to confirm transactions with multiple devices, such as a cell phone and laptop. These methods make it difficult for hackers to steal user funds.
Although Exodus does not have two-factor authentication, it does have a user-created password and a 12-word seed phrase to protect its assets. Users should store both of these securely offline. Two-factor authentication can also be useful if you have large amounts of cryptocurrency. While the platform doesn’t have two-factor authentication, it does have a user-friendly interface. The main issue with this wallet is that it lacks two-factor authentication, which can help prevent thefts.
Charges transaction fees
If you’re looking for a good, secure cryptocurrency wallet, you’ve probably heard about Exodus. This wallet supports more than 145 digital assets, including bitcoin, ERC-20 tokens, and popular meme coins. It also has an easy-to-use exchange service and supports quick swaps within the wallet. Despite its name, Exodus is a relatively new cryptocurrency wallet and it’s competing against other popular options such as Jaxx, Green Address, and Bread Wallet. The wallet supports 103 digital assets, including many that are not ERC-20 tokens, such as Litecoin.
Transaction fees on Exodus are high, but are worth it for speed and security. The company earns its revenue through partnerships with third-party API providers. They collect a small percentage of the exchange spread and apply it to the fees for its users. It is important to note that exchange spreads may vary, depending on the current market conditions, and you should consider this carefully before using the wallet. While some wallets may charge lower fees, Exodus prioritizes speed. The wallet keeps track of changes on its blockchain network to automatically adjust its fees. Users should also consider the fact that Exodus takes a small cut of the spread on major asset exchanges, which can range from one to three percent.