An Exodus crypto wallet is a free software wallet that allows you to securely store, manage, and trade a variety of different cryptocurrencies.
In this post, we will walk you through the process of setting up and using an Exodus crypto wallet, so you can start managing your crypto assets with ease.
Step 1: Download and Install Exodus
The first step in setting up an Exodus crypto wallet is to download and install the software on your computer or phone.
You can download the latest version of Exodus from the official website here.
The wallet is available as both a desktop program and a mobile app on iOS and Android.
Once the download is complete, open the installer and follow the prompts to install the program on your computer.
Step 2: Create a New Wallet
Once Exodus is installed, open the program and you will be prompted to create a new wallet.
To do this, you will need to select a password that will be used to encrypt your private keys and protect your assets.
It is important to choose a strong, unique password that you will not forget.
Try not to use the same password you use for your email and social media etc.
Remember, you will be storing crypto assets in here that may be worth a lot of money!
Anyone with your password will be able to access them.
Step 3: Backup Your Wallet
This is the most important step so pay attention.
After creating a new wallet, Exodus will generate a 12-word seed phrase.
This seed phrase is a backup of your private keys and can be used to restore your wallet if you ever lose access to it.
It is important to write down this seed phrase and store it in a safe place, as it is the only way to recover your assets if you lose access to your wallet.
It also means anyone who has this 12 word seed phrase has full access to your crypto.
This means you need to keep this 12 word seed phrase in a very safe place.
Ideally, in a safe, a bank deposit box, or at the very least, a locked filing cabinet or drawer.
Step 4: Add Cryptocurrency to Your Wallet
Once your wallet is set up, you can use it to send and receive crypto.
Simply choose the tab of the currency you want to receive and click "Receive":
In this example, we'll be receiving Bitcoin.
This will then take you to a screen with your BTC address:
You can then use this address to receive crypto from anyone and anywhere.
If you are looking for a service to purchase crypto, my recommendation for NZers is EasyCrypto.
It's a brokerage and works seamlessly with delivering to Exodus.
You can read my review of EasyCrypto here.
Step 5: Secure Your Wallet
It's important to secure your wallet and assets, so you will want to enable two-factor authentication (2FA) on your Exodus wallet.
Go to Setting > Security > Two-factor authentication and enable it.
This will add an extra layer of security to your wallet, making it more difficult for anyone who gets access to your phone or computer to gain access to your assets.
While you're in your security settings, you can also turn on fingerprint access to add another layer of protection.
Summary
Exodus is a free software wallet that you can use on your browser, computer or phone.
It enables you to securely send, store and receive cryptocurrency.
When you set up your Exodus wallet, always write down your seed phrase. This phrase gives the holder full access to all your crypto assets.
Always record it physically with pen and paper.
Do NOT store it in your email, Dropbox, computer files, or anywhere online.
Keep it in a safe place, such as a safety deposit box or a safe.
For better security, turn on 2FA and fingerprint access in your security settings.
