Exodus is a self-custody cryptocurrency wallet accommodating 277 crypto networks, offering infinite token compatibility across the most prominent Web3 networks. As a self-custody wallet, Exodus ensures that users have complete access to and control over their 12-word secret recovery phrase and private keys. Exodus cannot access users’ secret recovery phrases or private keys or view users’ transaction histories.

The Exodus desktop wallet is presently accessible for Windows, Linux, and Mac OSX operating systems, with a mobile version available for iOS and Android. All accessible versions can be downloaded from the Exodus website, Apple App Store, or Google Play Store.

What is Exodus Wallet?

The Exodus wallet is a desktop-based digital asset management platform enabling users to store, manage, and exchange cryptocurrencies. Exodus is a straightforward, complimentary cryptocurrency wallet that stores digital assets from exchanges or non-fungible tokens (NFTs) from marketplaces. Due to its internet connectivity, the Exodus wallet is categorized as a hot wallet. The Exodus wallet was created to offer a platform for the security, management, and exchange of digital assets across several devices, including PCs, mobile phones, and hardware wallets. The software is free for download on Windows, macOS, and Linux platforms.

Established in 2015 by JP Richardson and Daniel Castagnoli, Exodus seeks to mitigate the technical intricacies typically linked to cryptocurrencies by offering a user-centric platform that prioritizes design and usability. Exodus accommodates 277 coins, is compatible with numerous Web3 Dapps spanning networks, including Ethereum, Solana, and Binance Smart Chain, and is listed on the NYSE American as $EXOD for trading through preferred brokerages. The cryptocurrency wallet enables users to stake their digital assets and get rewards. Users may purchase cryptocurrency via credit and debit cards, bank accounts, Apple Pay, or Google Pay.

Background of Exodus Wallet

The wallet was developed in mid-2015 by entrepreneur and software engineers J.P. Richardson and Daniel Castagnoli. Exodus is headquartered in the United States. Exodus formally launched in July 2016. The wallet is regarded as one of the most user-friendly digital asset management platforms due to its streamlined interface and minimalist design. JP provides the technological expertise that operates behind the scenes at Exodus. JP has released more than 200 open-source libraries and has authored code utilized by most Bitcoin and cryptocurrency software, now available online. Daniel meticulously supervises every aspect of the Exodus creative process, from nuanced audio to fluid animations. Daniel excels in emotional design and has crafted experiences for Apple, BMW, Disney, Louis Vuitton, and Nike.

Features of Exodus Wallet

Self-custody

Exodus enables users to manage their assets independently, granting them authority over financial resources. Exodus lacks access to customers’ private keys; hence, the corporation cannot access users’ cryptocurrency assets. This principle is integral to their development process and vital to the corporate culture. The company asserts that customer key autonomy is essential for a safe self-custodial wallet.

Security

Exodus employs elite security professionals, including the top 10 researchers from HackerOne. Specialized teams concentrate on attacker simulation, cloud security, and application security. These teams promote safe architecture and development through their secure software development lifecycle (SDLC), advocate for cloud security best practices, and strive to adopt and enhance leading security frameworks.

Exodus utilizes open-source software, facilitating collaboration with the community, expediting innovation, and embracing new technology. The Exodus team performs manual audits of all open-source dependencies to identify potential risks and vulnerabilities.

Privacy

The Exodus wallet facilitates complete anonymity, as no personal information is necessary for downloading, installing, or utilizing the wallet. Exodus does not gather personal information, and private keys remain under the user’s control. Public keys and transactions conducted with the wallet are altogether transparent on the blockchain, and there are no functionalities to obscure your transactional history. Although they endorse privacy coins like Monero (XMR) and Zcash (ZEC), they cannot execute fully shielded transactions for Zcash. Suppose transaction privacy is a primary priority for users. In that case, the Exodus wallet accommodates the core wallets of ZCash and transactions in privacy coins like Monero (XMR).

Staking Reward

Exodus allows customers to stake assets directly within the wallet. Including assets utilizing the Proof of Stake (PoS) consensus architecture enables users to stake and generate passive income from many preferred assets, including Cardano, Algorand, Cosmos, Solana, and others, right within the Exodus wallet.

Users can accrue staking incentives on various assets and enhance rewards through automatic restaking. Customers can effortlessly claim and manage rewards for various assets by utilizing the hot wallet. The Exodus wallet’s auto-staking feature enables users to choose assets for reward compounding and to reduce staking fees.

Diversified Holdings

The Exodus wallet website indicates support for 277 cryptocurrency assets, including Bitcoin (BTC), Ethereum (ETH), Aave (AAVE), Aptos (APT), Avalanche (AVAX), Binance USD (BUSD), BNB, Cardano (ADA), Dogecoin (DOGE), and Litecoin (LTC), among others, accessible through the mobile application, desktop, and Web3. The hot wallet enables users to transfer, receive, and exchange thousands of assets across over 50 blockchain networks. The Exodus wallet permits users to import unlimited tokens across 15 Web3 networks.

Web3 Connection

Web3 provides customers with enhanced tools for effectively managing their money. Users can access DeFi and several dApps over multiple networks, including Ethereum, Solana, and Arbitrum. Users can construct and display their multichain NFT collection in a single gallery using the Exodus Web3 wallet.

How Does Exodus Wallet Work?

Establishing a Wallet Backup

Upon initial wallet installation, users receive a distinctive 12-word recovery seed phrase, which can be utilized to restore the wallet if the device is stolen, damaged, or lost. Users must document this seed phrase and ensure its security. To restore a prior Exodus wallet, users can download Exodus on a new device and select the “Restore Wallet” option during installation, using the 12-word recovery phrase linked to the previous wallet.

Transferring Assets Within Exodus Wallet

Although Exodus Wallet is not an exchange, it facilitates the direct exchange of supported cryptocurrencies within the app via non-custodial, third-party API exchange providers, enabling users to swap their preferred assets without requiring KYC identification verification.

• To trade currencies in the Exodus wallet, users must click the “exchange tab.” Select the coin they wish to swap and the coin you desire in return.
• After this, users must specify the amount they wish to exchange. Users may choose predefined values such as ALL, HALF, or MIN. Users may select a specific quantity of the coin or its equivalent value in their local currency.
• Once users are confident in their purchasing circumstances, they must select “exchange,” and the transaction will proceed. Considering that they must wait to transfer coins to their wallet, most trades will take less than 30 minutes.
• Upon completing the exchange, users may close the wallet, and the coins should be present upon reopening it.

Integration of Exodus Wallet with Trezor

The Exodus wallet is accessible via a secure password, which is adequate for most users. Exodus has established a partnership and integration with the Trezor hardware wallet to provide an additional layer of security for customers possessing substantial assets or those prioritizing security. Exodus responded to user demands for two-factor authentication and enhanced security by elevating that request to a higher standard. The amalgamation of the Trezor hardware wallet with Exodus offers users the protection and reassurance of a hardware wallet alongside the handy features, functionality, and user experience of the Exodus software wallet.

Users Trezor can be linked to Exodus Desktop, which will be shown as a separate portfolio within Exodus. This portfolio enables seamless fund transfers using your Trezor, akin to users’ standard Exodus wallet. In contrast to a standard Exodus portfolio, transferring funds from the Trezor portfolio necessitates that the user’s Trezor device is linked to their PC via the USB cord provided at the time of purchase.

Trezor is entirely compatible with Exodus Desktop. Upon connecting to Desktop, users may incorporate their Trezor as a view-only wallet in Exodus Mobile. Users can access their Trezor balance using Exodus Mobile, but transferring or exchanging funds from their Trezor via Exodus Mobile is not feasible. The Exodus Web3 Wallet is incompatible with Trezor.

The Exodus wallet and Trezor wallet are distinct and unconnected; therefore, it is crucial to document both secret recovery phrases. The Trezor secret recovery phrase is displayed once while creating a Trezor wallet. When customers configure a new Trezor Model T or Trezor Safe 3 with Exodus, the Trezor will produce an 18-word secret recovery phrase to prevent confusion with Exodus’s 12-word secret recovery phrase.

When users configure a Trezor using Trezor Suite, the device will automatically produce a 12-word secret recovery phrase for the Trezor Model T and Trezor Safe 3 or a 24-word secret recovery phrase for the Trezor Model One. The Exodus secret recovery phrase can restore the user’s Exodus wallet. Only the Trezor secret recovery phrase displayed at the first wallet creation can restore the Trezor wallet.

Opening a New Trezor with Exodus

Trezor Model T

The subsequent procedures pertain exclusively to the configuration of a new Trezor Model T:

• On PC, users must close any programs that may block their Trezor Model T wallet’s Exodus connection. Start Exodus and connect the Trezor via USB.
• Trezor Bridge installation is required for Exodus connection. Select Settings and Devices in Exodus. Click Install Now to install Trezor Bridge.

• Users must launch their browser and follow the Trezor Bridge installation instructions on-screen. Install Trezor Bridge in Firefox, Chrome, or Brave. It is not possible to download Trezor Bridge using Safari.

• After installing Trezor Bridge, Exodus will prompt firmware upgrades. Do not close Exodus; close all desktop apps before updating the firmware. Please close Trezor Bridge’s browser.
• In Exodus, click Continue to update firmware. Please do not close Exodus or disconnect it during firmware updates. After the update, Trezor restarts automatically.

• Exodus will ask users to initialize their Trezor after the firmware update and automated restart. “Create a New Wallet.”
• Users must name their Trezor wallet and click Confirm.
• After naming their wallet, users must follow the on-screen instructions to create their Trezor wallet. Trezor will prompts users to set a PIN. This PIN code is needed every time they use the Trezor.
• Trezor Model Ts generate 18-word secret recovery phrases during Exodus configuration. Write the words. Correctly word and sequence the words. Users should avoid storing their Trezor recovery phrase online.
• Exodus will prompt users to pair their Trezor after wallet setup. Select Pair to pair Trezor and Exodus.

Trezor Model One

The subsequent procedures pertain exclusively to configuring a new Trezor Model One.

• To configure a new Trezor Model One with Exodus, use Trezor Suite to set it up. Users must onfigure their Trezor Model One with Trezor Suite using Trezor’s “Getting Started with the Model One” tutorial.
• After configuring their Trezor Model One with Trezor Suite, users must install a Trezor Bridge to connect to Exodus. Select Settings and Devices in Exodus. Choose Install Now to install Trezor Bridge.

• Users will then launch their browser and follow the Trezor Bridge installation instructions on-screen.

• The Exodus wallet will show users their Trezor wallet as a standalone portfolio after installing Trezor Bridge and configuring their Model One in Trezor Suite.

Reconnecting a pre-configured Trezor device

• Launch Exodus and close any other apps that could impair hardware wallet connection, including Trezor Suite.
• Connect Trezor to Exodus using the included USB cable.
• Users enter their Trezor PIN.
• Suppose Trezor has secret wallets. In that instance, users can access hidden or conventional wallets. (a) Choose Unlock Hidden Wallet to access a hidden wallet. (b) Go to their standard wallet by clicking Continue.

• Select Connect to authorize Exodus hardware wallet integration.

• To access and show their Trezor Model T’s Monero balance in Exodus, users must confirm the export of their watch-only credentials on their Trezor. Click the green checkmark on the Trezor Model T touchscreen to continue.

• The following assets will appear after connection: a) the successfully synced assets; choose b) Continue to Portfolio. Exodus does not support all Trezor assets.

• Completed! Your Trezor is linked. The Exodus wallet will display the Trezor wallet as a portfolio. The green Connected icon to the right of the users Trezor portfolio tab indicates their connection. Trezor portfolios without the green connected icon are watch-only. Users must keep checking their Trezor balance and receiving funds. A connection is needed to move funds from their Trezor portfolio.

• Users Exodus wallet will display their Trezor wallet as a portfolio after connecting. This is how to start their Exodus Trezor portfolio.

Transferring Funds between Exodus and Trezor

Exodus has a transfer feature to facilitate the transfer of funds between the Exodus wallet and users’ Trezor hardware wallet. The instructions for transferring funds between users’ Exodus wallet and Trezor include;

• a) Users must choose the asset they intend to transfer, and b) click the Transfer Funds button to the left of the Send Button.

• b) Choose the wallet from which they will transfer funds using the drop-down menu, and b) pick the wallet to which they intend to send the funds.

• c) Specify the amount they intend to transfer, and b) select transfer.

• A confirmation screen will present the transaction details. If all information appears accurate, click transfer.

• For users to transfer funds from their Trezor to an Exodus portfolio, they must confirm the transaction immediately on the Trezor device.

• Upon verification on their Trezor, select OK on the success screen.

Exodus Wallet Advantages over Other Wallets

Conclusion

Exodus is a hot wallet directly linked to the internet; nonetheless, it is non-custodial, meaning users must securely manage their private keys or recovery phrases. Exodus Wallet enables users to store, send, and receive 277 cryptocurrencies and digital assets, including Bitcoin, Ethereum, USDT, Polygon, and Solana. Users can stake assets, exchange cryptocurrencies, purchase crypto directly within the app using a bank card or Google Pay, manage custom tokens, and explore DeFi, NFTs, and Web3 applications and dApps. Exodus is compatible with Windows, Linux, Mac OSX, iOS, and Android.