Exodus Wallet: Description
Exodus is one of the most stylish, functional and convenient multi-currency wallets designed to store digital money. The application allows its users to keep not only Bitcoin, but also popular altcoins inside one storage. In total, the site has more than 85 cryptocurrencies, including such well-known ones as Ethereum, Bitcoin Cash, Dash. A complete list of them is presented on the official website of the developer.
The wallet is integrated with the Shapeshift platform, which significantly expands the range of options for the user. Inside the program, you can not only store your digital assets, but also make transfers and exchanges.
Exodus is a desktop wallet for storing cryptocurrency. It implies in order to use it, you will need to install special software on your computer. It will also store the user’s private keys. An important feature of working with this particular application is that there is no need to download the entire blockchain. A light client not only saves disk space, but also speeds up work at times.
The program itself is 71.5 MB. Synchronization of the wallet with the blockchain occurs when the Internet is connected, various transactions (transfers, exchange) are made. You can install the program only on a laptop or personal computer with:
- Windows (64-bit) OS.
You won’t be able to work with the wallet on any other devices, including phones and tablets. The developers did not make the online version of the purse either.
History of Creation
The Exodus multicurrency wallet appeared relatively recently, in 2016. But in this short period of time, he managed to earn a reputation as reliable and convenient storage for digital money. The application itself was developed on the basis of the BankToTheFuture crowdfunding platform. The latter is famous for working with such reliable resources as Bitfinex, Bitstamp, Kraken, ShapeShift.
During the launch of the wallet, the company managed to raise over 300,000 euros. The fame and professionalism of the developers have become the decisive factors in attracting investment. As a result, the Exodus e-purse appeared, supporting bitcoin and altcoins. By the way, the number of the latter began to grow actively in 2018. Back in 2019, the number of supported cryptocurrencies did not exceed 30, today there are more than 85 of them.
Positive and negative sides
Users appreciate Exodus not only for its pleasant and user-friendly wallet design. It also has a lot of other advantages:
- high-speed performance, no freezes, errors, and delays in transactions;
- clarity of the interface – all tabs have logical names reflecting the functionality, even without knowing English, a person will understand in just a couple of minutes how to replenish an account, exchange currency, etc.;
- multi-currency – the ability to store a large number of types of digital currencies at once in one place;
- there is a function of exchanging currencies inside the platform;
- a “light” client does not require a lot of disk space, but at the same time, private keys are stored on the user’s PC, which ensures the security of personal data;
- the ability to restore access to the system using a backup copy;
- high security.
Among the drawbacks, users note the lack of open source code, a mobile version, and the ability to work with software in other languages. A significant disadvantage is the wallet fees. For small transactions, they can sometimes be up to 40% of the amount. At the end of 2017, the commission cost $30-40, which was a serious cost item for small investors. The size of the commission changes itself, based on the situation in the mempool. With a difference of a few seconds, it can drop from 20 to 9%. Therefore, it is recommended to monitor the situation before conducting transactions.