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Exodus was introduced to the crypto universe in 2015. This wallet was designed and created by Daniel Castagnoli and JP Richardson. It has grown in popularity over the years and now boasts hundreds of thousands of users. But, before entrusting this tech marvel with your assets, read through our Exodus crypto wallet review UK.
Before preparing this review, we rigorously researched, evaluated, and tested Exodus. Several of this wallet’s qualities, including its user-friendly interface and zero transaction fees, impressed us. However, we also discovered several shortcomings that every investor should know. We’ve covered everything in detail below.
In This Guide
Our Opinion about Exodus Wallet
We consider Exodus a good wallet for UK investors searching for a secure product that can hold, receive, and send crypto. But, before using this solution, go through the list of its pros and cons below. We’ve discovered them after evaluating Exodus extensively.
Exodus
✔Zero additional transactional fees
✔Good customer support
Pros & Cons
Pros
- Stylish, user-friendly interface
- Zero additional transactional fees
- Good customer support
- Web-based, mobile, and desktop apps available
- Employs state-of-the-art security measures
Cons
- It doesn’t allow Britons to buy, sell, or stake crypto
- Limited supported assets compared to other popular wallets
Supported Cryptos
Exodus allows users to store, send, and receive hundreds of cryptocurrencies, including popular assets like:
- Bitcoin
- Litecoin
- Ethereum
- Cardano
- Binance Coin
- Ripple
- Polkadot
- Avalanche
- Tether
Security
We consider Exodus secure because, first, it’s self-custodial. That means it gives you full control of your keys and assets. With it, you won’t have to worry about leaving the safety of your private keys and assets to a third party that can be compromised. Moreover, unlike centralised wallets, self-custodial wallets like Exodus are immune to large-scale theft incidences that often hit exchanges and cause catastrophic losses.
Exodus also gives you, the user, ample opportunity to augment the safety of your assets. For starters, while using the mobile app, you can optimise security by setting a strong 6-digit numeric passcode. Also, if you use an Android device, you can set up Touch ID. On the other hand, Exodus allows iOS users to bolster security with Face ID.
Not to forget, Exodus is equipped with an auto-lock feature. As the name suggests, this feature enables the wallet to lock automatically after a predetermined period, from 5 minutes to 2 hours. If you leave your wallet unattended for a long time, auto-lock will lock it and prevent unauthorised access and loss of valuable assets.
Fees and Limits for UK Traders
The best thing about Exodus is the wallet is free. You can get it today without incurring any expenses. Moreover, despite having exceptional features and top-notch security, it has zero storage fees.
Lastly, Exodus users don’t have to pay additional charges to receive or send supported crypto assets like Bitcoin and Ethereum. The only fees you’ll incur while using this wallet are network fees, which go straight to the concerned network, not Exodus’ coffers.
Visit the company’s website for more information about Exodus wallet fees.
Privacy and Anonymity
Since Exodus is a self-custodial wallet, it guarantees unmatched privacy. The company itself can never access the assets stored in your wallet. Remember, you have complete control over your private keys, crypto assets, and secret recovery phrase. Additionally, you can boost your privacy and security by encrypting this data with a strong and unique password only known to you.
Also, Exodus doesn’t ask users to register or provide personal information. Neither does the service provider ask for documentation. Therefore, while using this wallet, you’ll enjoy unparalleled anonymity. What’s more, you won’t have to worry about cybercriminals hacking your Exodus wallet and stealing personal data that can be used to commit, fraud, identity theft, and other crimes.
When it comes to transaction privacy, Exodus outshines most of its peers. This service provider doesn’t track or monitor any of your transactions. The only way that this company can access your transaction history is if you share safe reports or records with it.
Exodus Support Service
If you have a concern or query, you can email the Exodus support team 24/7. We tested this channel and received a response within a few minutes. That is the only support channel that this company offers in the UK.
Now, if you search online, you will discover many different “official” Exodus hotline numbers. Never use them because they’ve been listed by scammers and fraudsters whose primary goal is to gain access to your account and assets. If you’re from the UK, use the provided email address and wait for the company’s representatives to get back to you, no matter how long it will take.
How to Start With Exodus Wallet
Exodus doesn’t have KYC requirements, so setting up your wallet should be easy. All you have to do is follow these steps:
Step 1: Visit the Exodus UK official site
Step 2: Download the wallet
Step 3: Set up your wallet
Step 4: Receive, store, and send crypto
You should evaluate the Exodus wallet before using it. The best way to do that is by visiting the company’s landing page and clicking “EXPLORE EXODUS.” You’ll be directed to a page with all the available Exodus wallet products and what they offer. Look around and compare the products. Then, navigate to the bottom of the page and read the company’s privacy policy and terms of service.
Exodus has three products: Desktop Wallet, Web3 Wallet, and Mobile Wallet. If you have a computer that runs on Windows, Linux, or Mac OS, try downloading and installing the Exodus desktop wallet. If you prefer a web-based solution, install the Web3 Exodus wallet for Brave and Chrome. Finally, mobile users can download the Exodus wallet from Apple’s App Store or Google Play.
Open the Exodus wallet app and select the option to create a new wallet. You can also take a tour before setting up your wallet. Then, set a strong password to protect your assets. Ideally, it should have at least 16 characters and contain random words, capitalised letters, and unique symbols. Don’t use information that can be guessed easily, like your mother’s maiden name or the title of your favourite song.
To send crypto from another platform to your Exodus wallet, do the following. Open your wallet and click “Receive.” Select your preferred asset and copy the generated address. Finally, visit the other platform, paste the copied address, and hit send. If you want to transfer crypto from your Exodus wallet, hit the “Send” option, select the right network, and enter the destination address. Lastly, enter the amount of assets you wish to send, review the details, and hit send.
Final Thoughts
Now, is Exodus a good wallet? Yes, it is. But, based on our research and review, this product is ideal for Britons who only need a wallet that can receive, send, and hold cryptocurrencies. We suggest finding another product if you need a wallet that allows you to do more, including trading and staking crypto. That shouldn’t be difficult since we’ve reviewed many other crypto wallets on our site.
InvestingGuide Rating:
✔Zero additional transactional fees
✔Good customer support
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Risk Warning
Exodus is a software platform ONLY and does not conduct any independent diligence on or substantive review of any blockchain asset, digital currency, cryptocurrency or associated funds.
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