Luis Clark
Luis Clark
Luis is a personal finance expert who has been passionate and writing about crypto for more than five years.
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    Exodus Wallet Australia Review 2023: Pros, Cons and Features

    Exodus-Wallet-Review-australia

    Exodus Wallet Australia Review: Our Opinion

    Exodus crypto wallet is an easy-to-use non-custodial wallet for crypto beginners looking to select and manage a wide menu of digital assets securely. This is because the cryptocurrency hot wallet offers more than 255 assets and is compatible with hardware wallets (Trezor) which makes it a safe option to use.

    An Overview of Exodus Wallet Australia

    The Exodus Wallet was founded in 2015 by JP Richardson and Daniel Castagnoli. Since its launch, Exodus wallet has implemented consistent product updates (200+) every 2 weeks on the solution across its mobile, desktop, and hardware apps. Exodus wallet also supports over 255 cryptocurrencies within Exodus products.

    Pros

    Cons

    Exodus Wallet: What is It?

    Exodus-Wallet-australia-Review
    The Exodus software wallet is a non-custodial (self-custody) cryptocurrency multichain web3 wallet that allows users to manage and exchange 255+ cryptos and NFTs via its browser, desktop, mobile, and hardware wallet device applications. With the Exodus crypto wallet, users can buy and sell over 25 major crypto assets using their debit and credit card and even stake their crypto assets.

    Exodus Wallet: How does it Work?

    Our Exodus wallet review highlights that it is a self-custody cryptocurrency and NFT wallet that supports over 250 digital assets. This means that only you have complete access and control over your private keys and 12-word secret recovery phrase.

    The Exodus cryptocurrency wallet cannot access your 12-word secret recovery phrase or keys and is unable to view your transaction history either as everything is done locally on your device and only you have access to such data. As the Exodus crypto wallet does not store any personal data or your wallet files on its servers no one will be able to access, seize, or freeze your funds. To use the Exodus crypto wallet, you just need to download the desktop and mobile app or use the Chrome-based browser Web3 wallet.

    As for how the Exodus crypto wallet works concerning crypto management, the wallet offers third-party exchange API providers that you can use to exchange crypto from within the wallet. You will be able to trade supported assets with zero sign-up or account creation required.

    The in-wallet exchange is only permitted on the Exodus mobile and desktop apps. For purchasing crypto within the wallet app, Exodus uses MoonPay or Ramp, which requires you to just click the “buy” button and follow the on-screen instructions to buy crypto using your credit or debit card, Apple Pay, and Bank Transfer. Also, Exodus is a lite wallet so you do not need to download the whole blockchain to your device to be able to use the wallet.

    How to Send and Receive Coins?

    Depending on the device you’re using to access your Exodus Wallet, the steps in how to receive and send coins may differ.

    Send

    Web3

    Sending coins out of your Exodus Wallet follows the same basic steps. First, you’ll need to open your Exodus Wallet app either via the Web3 app. Next, you’ll need to click on the Wallet icon. Then click “Send”. Next, from the list of coins pick the asset you want to send and input the recipient’s address. Enter the amount you want to send and click “Continue”. Confirm transaction details and hit “Send”.

    Desktop

    Click on the Wallet icon then select the coin you intend to send. Then select the relevant network of the particular asset that is supported on various networks. Next, paste the address you want to send crypto to or scan a QR code by clicking the QR button. Enter the amount you want to send and click “Send”.

    Mobile

    Open the Exodus app and tap the Wallet icon at the bottom of the screen. Scroll to locate the crypto asset you want to send and tap on it. Tap the drop-down menu to select the relevant network if the asset is supported by several networks. Next, tap the outbound arrow on the upper left of the screen. Then enter how much you intend to send either in fiat or crypto value. Lastly, tap on the paste address field to enter the recipient’s address then tap “Send.” That’s it.

    Trezor

    Connect your Trezor device. Next, choose your Trezor portfolio by Selecting Portfolios and then Trezor portfolio. Click on the Wallet icon and then choose the coin you rent to send. Next, click “Send”.

    Paste the address in the required field or scan the QR code. Lastly, enter the amount you want to send and then click “Send”. You’ll be asked to confirm the details on your Trezor device so click the green checkmark on the device. To do so press and hold the green button to confirm. That’s it.

    Receive

    Web3 Wallet

    Open your Web3 Wallet then click the Wallet icon. Next, hit “Receive”. You should see a list of assets, click on the coin you want to receive. On the next page, you’ll see the coin’s address in plain form and a QR code. This is the address you’ll use in receiving crypto.

    Desktop

    To receive with the desktop app, click the Wallet icon then choose the cryptocurrency you want to receive. If the crypto asset you intend to receive is on several networks, click the drop-down menu and choose the network you want to receive the asset on. After choosing the coin and network click “Receive”. You should see a QR code with a plain address. Click the copy button (located on the right side of the address) to copy the address. Or you can scan the QR code.

    Mobile

    To receive coins with the Exodus Mobile wallet app click on the Wallet icon at the bottom of your screen then press on the coin you want to receive. If the cryptocurrency is supported by several networks choose the network you want to receive the coin on. Next, press the “Receive” button located at the upper right side of the screen. You should see the coin’s address in plain text and the QR Code. This address can be used to receive a particular crypto asset.

    Trezor

    Before sending funds to your Trezor hardware device connect it to the Exodus software wallet to confirm that it can be connected to the Trezor portfolio you intend to send funds to. Open your desktop wallet and click the Portfolio icon and then click the Trezor portfolio.

    Next, click the Wallet icon, and on the list of assets click on the coin you intend to receive. Then click on “Receive”. You should see the address in plain text or a QR code. Copy or scan to get the address.

    Unique Features of Exodus Wallet Australia

    exodus-wallet-hardware-aus

    Trezor-Compatibility

    The Exodus Wallet is compatible with Trezor One and Trezor Model T hardware wallets. Exodus crypto wallet users can easily exchange and manage their crypto assets in the Exodus wallet directly from Trezor without signing up or registering.

    To use the Trezor Wallet with Exodus, users are required to install Trezor Bridge. With the Trezor Suite, users can set up their Trezor Wallet with Exodus. You can do this by opening the Exodus wallet with your Trezor plugged in. The Trezor Wallet will show up as a portfolio in the Exodus Wallet. Once this is done you will be able to send and receive funds with your Trezor.

    To send funds to your Trezor, you will need to have the device connected to your desktop via a USB cable. Funds cannot be sent from Trezor to the Exodus mobile app.

    Staking Rewards

    Exodus wallet users can earn passive crypto income on their crypto holdings within the Exodus Wallet. Exodus users can earn up to 18.15% APY on Ontology, 0.83% on VeChain, 4.91% on Cardano, 5.77% on Solana, 5.66% on Tezos, 7.96% on Algorand, and 19.25% on Cosmos.

    Cryptocurrencies Supported

    Exodus wallet over 255 crypto assets. This includes Bitcoin, Solana, Ethereum, Binance Coin, USDT, Dogecoin, Algorand, Polygon, Polkadot, Stellar, Shiba Inu, etc.

    Fees Explained

    Exodus does not charge transaction fees except the usual network fees that go to the miners.

    Security

    Unlike custodial wallets like Coinbase and Binance, Exodus wallet does not have access to customers’ wallets or store users’ private keys. The Exodus app encrypts and stores users’ keys in their computers or mobile phone. Since Exodus does not store users’ private keys, if the company were to be hacked, the hacker will not have access to the funds in the user’s wallet.

    The compatibility of Exodus with the Trezor hardware wallet also enhances the security of the wallet.

    Exodus has certain security features in place to keep assets in the Exodus wallet safe. Users are also expected to generate a user password in their accounts. This password is required whenever the user tries to access their wallet, confirm transactions and view private keys. Users also have a 12-word backup seed phrase. This seed phrase is used to regain access to the crypto wallet if the device the wallet was installed on is lost or if the Exodus wallet gets deleted.

    Opening an Account

    Exodus is a non-custodial multi-currency wallet catering to global users and therefore Australian crypto enthusiasts, so you don’t need to open an account with the solution. You just need to set it up. To do so, download the Exodus Wallet via the official website here for free.

    After downloading, install the wallet and set a password. Next, pen down the seed phrase shown to you on a card and make extra copies. After writing the seed phrase and confirming it the Exodus Wallet will open. That’s it.

    Exodus App

    exodus-google-play-australia

    The Exodus cryptocurrency wallet works with both iOS and Android devices and has a 4.3-star rating on Google Play Store. It is easy to use for beginners and offers the convenient option of syncing to the desktop application.

    Customer Satisfaction

    Exodus customer support can be contacted via the in-app email support, and the official Exodus email. Email is the fastest way to get in touch with the support team as Exodus offers 24/7 worldwide customer support. Information on the Exodus website shows that Exodus does not offer customer support via telephone. Any number listed as the official Exodus support number is a scam.

    Users can also stay up to date with Exodus news by following Exodus on their different social media handles on Twitter and Facebook.

    Despite not having any phone support, the Exodus customer support team is very friendly and helpful and provides prompt solutions to customers’ queries.

    Who Should Use Exodus?

    Exodus wallet is for beginner crypto investors who want to have full ownership of their coins and need additional security for the same as Exodus wallet provides better security than custodial wallets offered by online exchanges. Its user-friendly interface enables crypto newbies to use this wallet effortlessly. It is a secure cryptocurrency wallet that does not collect user data nor does it store users’ private keys.

    Why Use Exodus?

    Exodus is a non-custodial wallet that provides you with full ownership of your crypto’s private keys and preserves user anonymity. It also connects with hardware devices like Trezor which further enhances the security offered. So Exodus can be used for the security and full ownership it provides users.

    How to Get Exodus in Australia?

    To get Exodus in Australia go to the official website and download either the mobile wallet or desktop app. You can also use the browser wallet for Google Chrome to access Exodus.

    Final Thoughts

    The Exodus Wallet is a great non-custodial wallet option for crypto newbies. Its apps for desktop, wallet, and browser are easy to use. The solution also doesn’t require complex signups. This makes Exodus a great solution for storing NFTs and cryptocurrencies securely without depending on centralized exchanges.

    FAQ

    Most frequent questions and answers

    Yes, despite being a digital wallet connected to the internet, the Exodus wallet is good. It features security features like its compatibility with the Trezor hardware wallet which makes it a secure wallet for storing crypto assets.

    Crypto wallets like Crypto.com, Exodus wallet, Metamask, Trezor, and Ledger hardware wallets are some of the best crypto wallets to use in Australia.

    Hardware wallets like Ledger and Trezor are better than Exodus wallets because they are more security features than hot wallets.

    No, Exodus wallet has never been hacked.

    While Coinbase is an excellent crypto wallet and beginner-friendly exchange, Exodus wallet supports more cryptocurrencies and gives users control over their assets and personal keys.

    If Exodus goes out of business, users will still have access to their crypto assets in their Exodus wallet. Exodus is a non-custodial digital wallet, this means that users have 100% control over their funds and private keys and can still access their wallets even without Exodus. As long as the user has their 12-word recovery phrase, they will be able to restore their funds into any BIP39-compatible non-custodial wallet.

    Yes, Australians can use Exodus wallet.

    Exodus wallet is a hot wallet or a software wallet.

    Exodus is a decentralised crypto wallet and does not charge any fees for sending and receiving cryptocurrencies. All transaction fees on Exodus go to the network, Exodus does not retain any associated fees.

    Yes, you can buy crypto on Exodus using Ramp or Moonpay.

    Exodus wallet is headquartered in Omaha, Nebraska.

    We always try to provide the most accurate information available, and make sure our team follow through.
    If you want to know more about our Crypto Exchanges Review Methodology follow the link below

    Skrumble.com provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual’s needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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