Exodus is a Cryptocurrency exchange that offers a wide range of crypto wallets, staking, and cryptocurrencies. It was founded in 2015, Exodus is headquartered in Nebraska, and the United States Securities and Exchange Commission (SEC) has approved a Class A IPO in April 2021 (OTCBB: EXOD). Exodus is a decentralized exchange that supports peer-to-peer (P2P) trading. The crypto platforms differ in fees and features. Exodus is an easy-to-use multi-currency software wallet available for desktop and mobile. The wallet stands out with its simple design and great online support. With the help of this article, you will know about How to buy Bitcoin on Exodus.
To Know About How To Buy Bitcoin On Exodus:
Bitcoin is one of the most famous cryptocurrency in the world and the sudden price increase made more and more people want to own virtual currency. There are several ways you can earn Bitcoin, including setting up a PC to mine it yourself. Alternatively, you can buy Bitcoin with your local currency through many crypto exchanges like Exodus.
There are two types of cryptocurrency wallets: multi-currency wallets and single-cryptocurrency wallets. Electrum is a popular Bitcoin-only wallet, and Exodus is a popular multi-currency wallet. Suppose you want to know how to create a Bitcoin wallet that supports multiple cryptocurrencies. All you have to do is download a multi-currency wallet. Here’s how to set up the Exodus multi-currency wallet app for PC. The steps are given by,
Step 1 – Download Immigrant Wallet:
You can download the Exodus Bitcoin wallet for free, although Exodus is free. But it still has many cool features. They are given by,
- 24/7 customer support
- The ability to switch between cryptocurrencies
- Trezor hardware wallet support
- It supports 100+ cryptocurrencies.
- Get rewarded for staking on ADA and 5 other assets.
Step 2 – Install Wallet:
Once you have downloaded the wallet, it’s time to install it. You need to create a password for your Bitcoin wallet. The password is important because it adds an additional level of security. They will not be able to access your Exodus wallet without a password.
Step 3 – Write The Seed Phrase:
You can write the seed phrase on paper and copy it by hand. It is the master key generated by your wallet (12-word secret phrase).
Step 4 – Open Wallet:
Once you have written the initial message and confirmed it, the exodus wallet will open. If you want to know how to set up a Bitcoin wallet, that’s it! Every time you open your Exodus wallet, you will be asked to enter your password. So don’t forget!
Step 5 – You Can Install Exodus on Your Phone:
You can also install the Exodus Crypto wallet on your mobile phone. Exodus is available for iPhone and android once you have installed the Exodus wallet on your phone. You can sync wallet balance between PC and mobile wallet.
Where Does Exodus Keep The Secret 12-word Recovery Phrase?
Your 12-word phrase is stored encrypted on the computer where you have Exodus installed. You do not store your secret messages on the servers. This was done in the true spirit of cryptocurrency that gives full control of capital to private key owners. In addition, by doing this, protect you in case of hacks on your servers. Hackers will never find any data that can access your wallet and money. However, this means that you are solely responsible for ensuring the safety and security of these terms. If you forget your password and lose the secret phrase, your money will be irrevocable.
How Do You See The Secret Recovery Phrase?
On The Desktop:
- Open Exodus and enter your password.
- Click the settings icon in the top right corner of the Exodus wallet.
- Next you need to tap on the backup tab at the top of your wallet. Then click on view secret phrase.
- A warning will appear, and you will need to confirm that you want to view your 12-word secret phrase. You can confirm that you understand the risks and have checked your surroundings. Finally you can click the checkbox and the show secret phrase button.
On A Mobile Phone:
Open Exodus wallet on your mobile device. Then tap the dashboard icon in the bottom right and then tap Security.
Make sure there is nothing and no one nearby to see your secret phrase. Tap “View Secret Phrase” if you are ready and able to write the 12-word secret on a piece of paper and keep it in a safe and private place.
Release your finger on the button. Press and hold to reveal to see your 12-word phrase.
Notching Features Of Exodus:
Hot wallet: The Exodus digital wallet takes the top spot as a beginner Bitcoin wallet, it is free, and investors have control over their private keys.
Staking: Exodus allows investors to bet seven dollars and win. The estimated Annual Percentage Rate (APR) ranges from 1.24% to 13.88%.
Trezor Partnership: Trezor Model T and Trezor One users can pair their hardware wallet with Exodus to quickly transfer funds between Trezor wallet and Exodus exchange.
Compound Finance: Deposit Dai (DAI) into an account similar to a crypto savings account to get around 3.74% variable interest rates.
Is Exodus Safe To Buy Bitcoin?
Exodus should be as safe as with any software wallet as can be obtained. The two main security features that the wallet offers are:
Password protection for your wallet
Automatically lock the wallet after the selected time.
Exodus also states that it is important to verify that you are only downloading the wallet from trusted sources. You can verify that your Exodus download is genuine. Additionally, Exodus does not require any registration and the company has no access to your private key or data.
Exodus is a decentralized cryptocurrency exchange offering 138 cryptocurrencies for exchange crypto-to-crypto, peer-to-peer, and users have full control over their assets. Exodus is a distributed exchange, and Exodus provides a platform for users to initiate buy and sell transactions. It does not require anyone to register. The user downloads the app and starts using Exodus to buy the bitcoin.