Cryptocurrency is slowly gaining a foothold as a great source of money, and it is great to have a place to store it. This article will discuss a specific wallet called the Exodus wallet and how to set up Exodus Wallet.
What Is An Exodus Wallet?
Exodus Wallet is a digital cryptocurrency wallet. This kind of digital wallet only accepts cryptocurrencies. This digital wallet has a feature called the internal exchange system that you can use to convert cryptocurrencies from one type to another. It sounds ideal, but while using the Exodus Wallet, you cannot send any fiat currencies like dollars, pesos, and yen to it. You also cannot exchange cryptocurrencies into any fiat currencies when using the Exodus Wallet. To do that process, you need to use a dedicated exchange platform.
Now that you know basic knowledge, let us now know how to set up Exodus Wallet.
How to set up Exodus Wallet?
- Install the Exodus Wallet
First, go to Exodus website to download the Exodus wallet. It is essential to take note to follow this link only to avoid being caught by bogus sites and bogus applications. Also, always remember that you only need one application for all of your cryptocurrencies.
- Installing and Opening Exodus on Computer
On the computer, when you clicked the said link above, you will see on the download page the “Desktop” section on the bottom-left. Click that button and choose your platform (either Mac, Linux, or Windows). When you finished downloading the file, click it and install it like any other applications you have on your computer. After installing, open the application. While using the Exodus application, there is no need for you to create an account, any username to put in, or any password.
- Installing and Opening Exodus on Smartphone
Just like in the desktop version, when you are on the download link website, you will see the link for the “Mobile” version on the down-right side. You can select either download it for Android or iOS. Click the button that corresponds to your smartphone. Install the application, and then open it. When you open the application, like in the desktop version, you don’t need any account creation – no username or any password required.
Securing Your Exodus Wallet
This is needed before sending and receiving cryptos to secure and your funds from the hackers on the internet. You can do it by having your very own private key.
Securing your Exodus Wallet in your Computer
- Open the computer application and select the “Backup” tab on the left of the interface.
- After that, the application will ask you to set a password. It is advised to set this password with a combination of numbers, letters, and special characters. After setting up your password, click the “Next” button.
- This will make you type the password again, do it and click the “Next” button.
- It will make you go to the interface screen with 12 empty fields, which shows 12 different words as you hover your mouse on top of it. These are your 12-word private key. Make sure to write it on a piece of paper while associating it with the numbers 1 to 12 and store it in a place where it won’t be lost. After that, click the “Next” button.
- The application will ask you to verify which words on the screen are a part of your 12-word private key. Select the correct answer and click the “Finish.”
Securing your Exodus Wallet in your Smartphone
- To create a password, open the application, go to the “Profile” tab, then click “Security,” and then click the “Secure with a Passcode.”
- By doing this, the application will prompt you to a screen that will ask you for a 6-digit password, go it and repeat it for a second time.
- To see your unique 12-word private key, under the “Profile” tab, click “Security,” then click “Recovery Phase,” then “View Recovery Phase.”
- Clicking it will make you go to a screen with a series of 12 dotted lines – this is your private key. To reveal it, press and hold on the “Press and Hold to Reveal” button. When indicated, record these words preferably in a paper and secure them while accompanying the words with numbers 1 to 12 correspondingly.
How to Synchronize Exodus Wallet on Multiple Device
After having a secure Exodus wallet, you now think that you want to access your Exodus wallet anywhere, anytime. Following the step-by-step guide below will give you the way to do that synchronization.
Synchronize your Second Exodus Wallet in your Computer
- Like what you did before, download the Exodus Application on the same link and install it.
- Open the application and click “Restore from backup”.
- When the application asks for you to restart the application, pick “Yes” and then it will ask you the 12-word private key.
- Enter the secret words and then validate all of it. After a while, your applications must be synchronized.
Synchronize your Second Exodus Wallet in your Smartphone
- Like before, download and install the application for your smartphone from the link.
- After opening, select the “I already have a wallet” button. If not displayed immediately, go to the “Profile” tab, click the “Settings,” then click “Restore Wallet”.
- Click the “Restore from Backup” button and then enter your 12 secret unique words.
- After doing this, your devices must be synchronized.
There you have it! A step-by-step guide on how to set up Exodus Wallet. Follow this guide, and you will have your own secure Exodus Wallet that you can use for sending and receiving cryptos anywhere, anytime! Learn more about Exodus wallet here!