The more advanced method is to generate your own recovery phrase. When creating a new Exodus Wallet, the default method is to create your wallet within the app. If someone steals your recovery phrase, you will still be able to access the wallet, but the funds may be gone - since whoever knows your recovery phrase can spend all of that cryptocurrency. It is important to highlight, your recovery phrase only ensures you will have access to the cryptocurrency inside your wallet. Backing up the recovery phrase ensures access to your wallet using any BIP39 compliant wallet. It will unlock every single address created by your wallet. You can think of your recovery phrase as a master backup of all your cryptocurrency in this wallet. The recovery phrase can be used to restore your Exodus Wallet, or can be imported into another wallet that supports BIP39. Under the hood, Exodus generates your wallet with the use of a recovery phrase. This guide will walk you step-by-step through creating a wallet with Exodus and securing your wallet.Įxodus wallet follows crypto industry standards for wallets, including BIP39. However, there are important security steps that must be followed after your wallet is created by Exodus. This approach has advantages for new users, allowing them to get going quickly without getting tied down in technical terminology. You will notice when you first open Exodus wallet, that rather than go through a setup process to configure your wallet, instead a wallet is created for you. The developer team puts a lot of emphasis on hiding the complex operations "behind-the-scenes" and giving the user a simple interface. Earn rewards from within the wallet 24/7 Support - Exodus has 24/7 support for users, which is a unique feature for wallets.Įxodus Wallet is very user friendly. Staking - Exodus has built-in support for staking with multiple coins. Exchange built-in - Using Exodus you can swap between 130+ coins and tokens, instantly. Some of the benefits of using Exodus Wallet include: Sync across devices - Your mobile wallet can be synced in real time with your desktop wallet Hardware Wallet Integration - Exodus partnered with Trezor, a hardware wallet company, to create a bridge between Trezor wallets and Exodus. With Exodus, users can use one app across all platforms to manage their portfolio - including integration with hardware wallets. Since Exodus was released in 2015, the developers have released an update every 2 weeks. The developers of Exodus are constantly working on improving the wallet. Exodus does a great job of providing the platform and the tools for users to learn and grow. Cryptocurrency is seeing an influx of new users, many of whom are seeing phrases and concepts that are new to them. Exodus allows users to get going quickly without getting slowed down by technical terminology. This approach of focusing on the user experience has advantages for beginners. The development team places a strong emphasis on making the wallet intuitive and easy to use, while still keeping industry standard security features in place. No confusing steps - we think it shows." - Exodus WalletĮxodus is a very user friendly wallet. "Our goal is to remove the geek requirement and make it fun and easy to learn and use cryptocurrency.
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