How to use Exodus Cryptocurrency Wallet

In this post we take a look at How to use Exodus Cryptocurrency Wallet. Exodus is one of the most wallets in the cryto market these days. It has been making the buzz for all the right reasons and we simply couldn’t resist not trying out! This is a well designed wallet that is aesthetically pleasing and is bolstered with a lot of features. The wallet also supports an instant exchange integration by which you can easily swap one crypto for another without the coins ever leaving your wallet.


Exodus is presently available on all the 3 desktop formats – Windows, macOS and Linux. It is also available on Apple Store as well for mobiles. Exodus was designed to serve all kinds of audience – be it first time users or for mainstream cryptocurrency enthusiasts who are looking for a secure, easy to use, beautiful wallet. It’s also a great choice for those who hold a variety of popular coins since it supports nearly 100 different cryptocurrencies, with more being added all the time.

Getting Started

To download the desktop application – https://www.exodus.io/download/  [Note that Exodus will only run on 64-bit systems.]

Mobile app – https://itunes.apple.com/us/app/exodus-mobile/id1414384820

Exodus is a software that runs locally on your computer and enables you manage your blockchain portfolio. You do not need to signup or create an account. Everything is stored and encrypted on the hard drive of your system. The home page your application looks like this;

How to use Exodus Cryptocurrency Wallet

 

Receiving your first deposit –  Importing coins to your Exodus Wallet

Inorder to get started, add some coins to your wallet. Click on Portfolio > “Send Assets to Wallet“. Copy the address shown on the page and use it to transfer digital tokens to your wallet. (If you don’t currently hold any crypto, you will need to acquire some before using Exodus. Exodus is a crypto to crypto platform and does not interact with the traditional financial system. You’ll have to use another service to buy crypto if you don’t already have some.)

How to use Exodus Cryptocurrency Wallet

It is easy to receive a coin or a token in your Exodus wallet. Just click Wallet on the left sidebar, then choose the coin/token you would like to receive. If you don’t see the token that you would like to receive, you will need to enable it in settings first. Exodus supports over 100 assets, so use the search tool to find your favorite asset quickly.

Click Bitcoin then click the “Receive” button. On clicking that button, Exodus will show you, your Bitcoin address. Similar to a bank account number, you give this bitcoin address to another person from whom you wish to receive a bitcoin payment. There are four action buttons in this window to copy, print, email your bitcoin address and view your address on the blockchain. Finally, there is a QR code in this window that contains your bitcoin address. Scan this QR code from a mobile device to send bitcoin between devices without typing long addresses or emailing blockchain addresses to yourself.

How to use Exodus Cryptocurrency Wallet

Sending Crypto

To send blockchain assets with Exodus, click Wallet on the left sidebar. Then choose the blockchain asset you would like to send and then click the Send button. Just like traditional bank transfers, Exodus needs the address you want to send to. This address is similar to a bank account number. You can request an address from the person you want to send Ethereum to or enter your other Ethereum address from another wallet.

Because it is easy to mistype a character, the best practice is to copy the address to your clipboard and paste it into the to field. Alternatively, if you have a QR code you can click the QR code button located on the left side of the “to” field to scan the QR code. Exodus will then import the blockchain address from the QR code and insert it for you. Next, type the amount you want to send. Exodus lets you send in the blockchain unit or you can enter an amount of fiat currency and Exodus does the conversion for you.

Once you review the confirmation line telling you how much you are sending, click the Send button. Exodus will then confirm again you want to send the amount to the address. This is a good place to pause for a moment and double check your amount and address. If all looks good, click Send. Within a few minutes the amount will reflected in the wallet to which you just sent it now.

How to use Exodus Cryptocurrency Wallet

First transaction and backup

The first transaction to your wallet is an important event because this will give you access to lot of other features on Exodus. When Exodus receives your first deposit, it will allow you to go through the backup process which includes creating a password for your wallet. You will also receive a (randomly generated) 12-word “seed” for your wallet. This is a 12-word phrase that functions as a master key to all of your assets. With these 12 words, you will be able to access your balance from anywhere in the world or even transfer all your funds to another wallet if you wish. It will also give you access to your wallet if you forget your password or lose access to your computer (and Exodus) for some reason!

Once you have initiated the backup process and chosen your password, you will be asked to enter your self created password each time you want to log in to your Exodus wallet. To log out, you simply close the Exodus app window. Upon closing it, your assets and wallet files will remain encrypted by your password.

How to use Exodus Cryptocurrency Wallet

The Exchange Process

While the wallet itself isn’t an exchange, it does allow you to exchange supported cryptocurrencies with each other through its built-in ShapeShift integration. Exodus was the first wallet to include ShapeShift, and the process remains simple and seamless for users. If you have a certain coin in your wallet and would like to exchange them for another {Eg; Bitcoin to Ethereum} then all you need to do is click on the “Exchange” tab. Here you can select the coin that you would like exchange along with the one you would like to exchange it for.

Once you are done with this, select the amount of coins that you want to exchange. You could select preset values such as ALL, HALF or MIN. You can also choose specific values or even enter the value in terms of the fiat currency [USD]. Verify all the conditions again and then hit “Exchange”; the transaction should go through without any hassels. The coins after processing would take anywhere under 30 minutes to reach your wallet in its new form.

Once you have completed the exchange, you can close the wallet and the coins should be there when you open it up again.

How to use Exodus Cryptocurrency Wallet

When first released the Exodus supported just a handful of cryptocurrency assets, but in 2019 it has support for nearly 100 cryptocurrencies and more are being added all the time. Multi-currency support is one of the strong features of Exodus. Hope you have learnt How to use Exodus Cryptocurrency Wallet. Do post your comments and suggestions in the comments section below and we will get back to you with solutions for the same at the earliest!

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  • Florence Adel

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