Exodus wallet is a non-custodial multi-cryptocurrency wallet and is available for both desktop and mobile devices. In this guide, we will be discussing how to use the Exodus wallet for Android?
How to download and Instal Exodus Wallet?
In order to download Exodus Wallet for Android, you need to visit Google playstore and search for it or click here. It has more than 100k plus download and is rated 4.7 stars.
It takes only 30MB of your device’s memory. At the time of writing this article, it was last updated in the month of June 2020. As per the updated news, ALGO was added with built-in staking.
After the download is completed it will automatically get installed like all other apps on Android. After the installation is completed and when you tap on its icon the first screen that you will see is shown below.
How to use the Exodus wallet Android app?
There are three menus that will appear at the bottom of the android app screen. The first is by default highlighted and displays your portfolio balance and individual waller balances. The second one is the exchange menu which when you tap opens a new screen as shown in the below image.
There is a minimum value to exchange any cryptocurrencies. The minimum value can be checked by tapping on Min and the maximum value can be checked by tapping on Max.
At the top right-hand side corner of this screen, you can see a clock icon. When you tap this icon it will display the exchange history. You can replace the cryptocurrency by tapping on the crypto ticker. The icon in between the ticker is for confirming the exchange.
You can exchange almost all major cryptocurrencies using the Exodus wallet for android. You can check the list of all supported cryptocurrencies here.
The last menu is the profile menu when you tap on it a new screen opens up as shown in the below image.
This menu consists of submenus like Security, Setting, and Support. From this screen, you can also enable and disable crypto assets. You can also enable and disable Ethereum assets when you scroll down a little bit more as shown in the image below.
How to create a backup of the Exodus wallet?
Go to Security:
Here you can create your backup, secure the wallet with a passcode, and with a fingerprint scanner. As soon as you create your wallet it is recommended to create a backup with a 12-word security phase as it is the only way to recover your funds.
How to enable notification?
Go to Settings:
Here you can enable notification whenever you receive funds into your wallet, play sound whenever sending, receiving, and exchanging funds. You can also set preferred local currency.
The best feature of the Exodus android wallet is that you can sync it with the desktop wallet here. You can also restore and delete the wallet here.
How to contact support?
Go to Support:
It is here that you will be able to contact the Mobile support team by tapping on it, learn about the Exodus wallet, and check for the status update.
Exodus wallet Staking:
Exodus wallet for android is a multi-cryptocurrency wallet that also supports staking. Proof of stake coins that you can stake using the Exodus wallet are –
- NEO – 2% Yearly interest
- EOS – Click to know about EOS staking
- ONT – 3.5% Yearly interest
- XTZ – 6% Yearly interest
- TRX – 4% Yearly interest
- DASH – 6.5% Yearly interest
- ATOM – 8% Yearly interest
- VET – 1.5% Yearly interest
To know more about Staking on the Exodus wallet you can visit Staking at Exodus blog.
How to send and receive cryptocurrencies?
In order to send and receive cryptocurrencies to & from your wallet you need to first open the wallet and on the Portfolio screen tap on the crypto assets that you want to send or receive. It will open up a new screen as shown in the image below.
In the above image adjacent to the USD value of Bitcoin on both sides, there are two icons. The icon on the left-hand side which has an arrow pointing upwards is for sending cryptocurrency in this case it is Bitcoin.
When you tap on that icon a new screen pops up as shown in the image below. Enter all the details mention there and then click on Next at the bottom. In the next screen, you will be notified about the fee and will be asked to confirm the details once again.
When you tap on the icon that is on the right-hand side that has an arrow pointing downwards, it opens up a new screen where you will find your receiving address and the QR code as shown below.
How to view the Private key on the Exodus Wallet app?
In order to view the Private key of any of the listed cryptocurrency wallets, you have to first tap on the cryptocurrency assets whose private key you want to view. This will open up the send/receive cryptocurrency screen.
At the top right-hand side corner of that screen, you will see a gear icon. When you tap that icon you will see the Advanced options screen, here you will find two submenus.
The first one is Add Bitcoin from Private keys and Multiple Bitcoin addresses. If you tap on the first submenu it will reveal the Private key of that cryptocurrency wallet.
Exodus wallet for android has one of the best user interfaces. It is very smooth and fast to operate and you will just love its graphics. I personally do not recommend users to store a large sum of cryptocurrencies in its mobile wallet.
It also has a desktop version which is considered one of the best desktop wallets to store multi cryptocurrencies. The best part about this wallet is that you can sync the mobile wallet with the desktop. You can read this article to know how you can do that?
I hope you liked reading our Exodus wallet review as much as we loved writing it for you. If you have any suggestions or any queries about this article then do leave your valuable comment below.
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Prepare For Liftoff: Bitcoin Loses Bear Market Trendline Against Altcoins
Aside from a few rare outliers, over the last several years, owning Bitcoin has been the better investment compared to other cryptocurrencies. Altcoins like Ethereum and others have only recently caught up, and BTC dominance has maintained the lion’s share of the crypto market cap.
However, dominance has lost an important trendline dating back four full years to the peak of the last bull market, and it could suggest a major turnaround is about to occur across the crypto market. Could this be the » Read more
” href=”https://www.newsbtc.com/dictionary/altcoin/” data-wpel-link=”internal”>altcoin season crypto investors have been waiting for?
Bitcoin Dominance Loses Crucial » Read more
” href=”https://www.newsbtc.com/dictionary/bear/” data-wpel-link=”internal”>Bear Market Trendline
” href=”https://www.newsbtc.com/dictionary/coin/” data-wpel-link=”internal”>coin by comparison as investors searched for the next BTC.
Related Reading | Five Signs That Say Altcoin Season Hasn’t Even Started Yet
Those investors ended up learning the hard way that there is no replacement for Bitcoin. Altcoins plunged by as much as 99% in most instances, while Bitcoin wiped out only 84% of its gains by comparison. Both scenarios are now far in the rear view, and since then Bitcoin has a commanding lead.
BTC dominance has lost an important monthly trendline dating back to the top of the last bull market | CRYPTOCAP-BTC.D on TradingView.com
At the height of that fever, dominance reached as low as 35%, but has since remained around or above 63%. That key level was lost at the same time a pivotal trendline was, and now there could be no over-performance in Bitcoin for the next year or more.
The trendline in question dates back four years to the bull market peak, and has kept dominance supported ever since.
Altcoins Are Ready To Explode If Dominance Dives Further
” href=”https://www.newsbtc.com/dictionary/altcoin/” data-wpel-link=”internal”>altcoin season, which thus far the leading cryptocurrency by market cap has kept locked away for many years now.
A zoomed in view shows how many times BTC dominance tried to reclaim the line | CRYPTOCAP-BTC.D on TradingView.com
Losing the previous long term trendline resulted in some short term consolidation followed by a large move lower. A bearish retest of 70% BTC dominance failed, sending the important crypto market metric falling back lower to the second ascending trendline.
Related Reading | Altcoin Season Is Here: “Buy Crypto” Surpases Bitcoin Searches On Google
With the 63% level now lost also, BTC dominance should gravitate toward the mid-50% range, allowing altcoins to soar compared to Bitcoin for an extended period of time.
Altcoins could also theoretically hold up better in a wider correction, but that scenario is unlikely as the riskier assets typically are more volatile and react more sensitively to greater crypto market selloffs.
Featured image from Deposit Photos, Charts from TradingView.com
John McAfee faces more charges connected to money laundering and wire fraud
According to the United States Department of Justice, Manhattan Federal Court today charged John McAfee and his team’s executive adviser Jimmy Gale Watson Jr for fraud and money laundering conspiracy crimes.
McAfee has been charged with securities fraud, touting, and wire fraud among other offenses stemming from the fraudulent promotion of crypto that federal law recognized as securities.
On 6 October last year, United States watchdog, Securities Exchange Commissions (SEC) charged the founder of the McAfee antivirus software firm for allegedly making over $23 million in the process of shilling seven initial coin offerings. Jimmy Gale Watson Jr. was also charged for violating Securities’ law in real-time on Twitter for shilling the ICOs along with McAfee.
The ICOs reportedly raised $41 million in the process with half of those proceeds pocketed by McAfee.
Manhattan US Attorney Audrey Strauss alleged that the duo exploited social media and “enthusiasm” among investors in the “emerging crypto market” to make millions through “lies and deception.” She further claimed:
…[McAfee and Watson] allegedly used McAfee’s Twitter account to publish messages to hundreds of thousands of his Twitter followers touting various cryptocurrencies through false and misleading statements to conceal their true, self-interested motives.
The investors of these ICOs allegedly concealed the fact that they were compensating McAfee and his team for their promotional tweets through funds raised from public ICO investors.
While McAfee is currently detained in Spain on separate criminal charges filed by the DoJ’s Tax Division. Watson was arrested on 4 March in Texas and will be presented before a federal magistrate judge in the Northern District of Texas, today.
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PAID Network exploiter nets $3 million in infinite mint attack
Paid Network, a DeFi platform aimed at real-world businesses, has been exploited today in an “infinite mint” attack that has sent PAID token prices plunging upwards of 85%.
While the exploit netted nearly $180 million in PAID tokens at the time of the attack — what would have comfortably been the largest exploit of a DeFi protocol — the hacker’s payday will end up being far less. One observer noted that the attacker’s wallet only converted some of their tokens to wrapped ether, leaving the rest in rapidly-devaluing PAID tokens:
Summary of $PAID incident:
Total PAID swapped to WETH: 2079.603371141493
Total PAID left in account: 594,717,455.71
Total amount in attacker account = $27,418,034.33
Stay Safe. pic.twitter.com/Lz93qGKAq0
— vasa (@vasa_develop) March 5, 2021
The attacker’s wallet still has over 57 million PAID tokens worth $37 million.
The exploit is conceptually similar to an attack on insurance protocol Cover that took place in late December last year. In that instance, the team took a “snapshot” of holders prior to the attack and issued a new token, returning the supply of the token to pre-exploit levels.
The team confirmed on Twitter that they are currently planning for a snapshot and restoration:
We are investigating the issue. We pulled liquidity, are creating a new smart contract, & will be restoring everyone’s original balances to before the hack.
Those with staked, Lpool & UniFarm $PAID will have their tokens be sent to them manually.
We will share more updates soon
— PAID NETWORK (@paid_network) March 5, 2021
However, token holders anxious for a resolution may be out of luck. Some in the community are speculating that the attack on PAID wasn’t an exploit at all, but instead a “rugpull” — a colloquial term for an insider designing contracts to specifically make them exploitable and swiping user funds.
Nick Chong of Parafi Capital noted on Twitter that Paid’s deployer contract, an externally controlled account, transferred ownership of the deployer to the attacker shortly before the mint, indicating that a member of the team either rugpulled, or errantly allowed the attack to take place with a security lapse:
Paid Network’s deployer, an EOA, transferred ownership of a contract to the attacker 30 mins before the minthttps://t.co/h14GdV4fCf
— Nick Chong (@n2ckchong) March 5, 2021
Additionally, a DeFi risk analysis account @WARONRUGS warned of exactly this exploit in late January, noting that the contract owner can mint PAID tokens at any time:
❌ Scam Advisory #86- PAID Network $PAID (0x8c8687fC965593DFb2F0b4EAeFD55E9D8df348df)
Reason: The owner can mint tokens and did mint tokens to fresh wallets who never bought the presale. Contract is behind a proxy.
Likeliness of losing all funds: Very High
— #WARONRUGS❌ (@WARONRUGS) January 25, 2021
An on-chain note sent to the attacker has ominously warned that “the LAPD will be in contact with Kyle Chasse very shortly.” Kyle Chasse is the CEO of Paid Network.
Paid Network did not respond to a request for comment by the time of publication.
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