A wallet is an interface, digital or physical, where you can store your cryptos. When you buy Bitcoins for example, you will necessarily have to store them in a wallet. In this article, we are going to help you create a free wallet with Exodus, step by step.
When you want to transfer a Bitcoin to someone, your Bitcoin will be transferred from your wallet to the other person’s wallet. To do this, you need to know the recipient’s wallet number (also known as the wallet address). Logic.
An address is sometimes also called a public key. It’s the same thing. And as the name suggests, it is public. It can therefore be shared without risk of piracy. It should not be confused with the private key, which should NEVER be shared with anyone. We will come back to this later in this article. You can compare a crypto wallet to a bank account. If you have a bank account in euros, you can only store euros. But you can also have a US dollar account. Even within the same bank. That said, you understand that the two accounts are separate anyway.
One bank account = one bank account number = one currency
The same goes for cryptos.
One wallet = one wallet number = one address = one storable cryptocurrency
Disclaimer: Before going deeper into how to set up and use Exodus wallet, please note that the solution presented below is a software. Like any software, it can encounter bugs, flaws, and can potentially be hacked. Nothing is ever 100% certain. Also watch out for viruses on your computer or mobile phone, which could steal your private keys and / or passwords. We cannot take responsibility for the loss of your funds if anything should happen with your cryptos wallet. In addition, by continuing to read this article, you acknowledge that you understand the risks associated with cryptocurrencies, and wallets (hot and cold). Finally, we have no affiliation with Exodus, its creators or other stakeholders.
There are many types of wallets, digital and physical. For more details, I invite you to refer to this link. In this article, we will cover the Exodus wallet. Why? Because it is free, can accommodate several types of cryptos (not just Bitcoin), easy to use and simple to set up (30 seconds to be operational when you know how to do it!). Therefore, you will take more time to read this article than to configure and use the wallet!