Hey everyone. So, wallets - what is the 'Exodus Wallet'? So, first what's a crypto wallet? So
with cryptocurrencies, in case you don't know, you store cryptocurrencies in
something called a crypto 'wallet'. Now, there are different types of wallets...
I just bought Bitcoin on Coinbase - I showed how to sign up to Coinbase and
buy my Bitcoin, so I've got my Bitcoin already. You can check there ... the little thing
will come up showing those videos... Basically, if I've already got my Bitcoin
where do I store it? So, or my Ethereum, or any cryptocurrency - where do you actually
keep it, you know. This is not like having some loose change, and putting it in your
pocket - there are special places to keep these, and they're called 'wallets', okay. So
when I bought it on Coinbase, Coinbase has its own wallet built into it. So, when
I buy it, it's automatically stored on Coinbase. I can log in, and I can sort of
you know - I can I have access to those cryptos. Now, when they're stored, they're
not, obviously, physical - they're stored as like, little sets of code, and that code - that
key, it gives you access, you ownership of that part of the cryptocurrency. So
that's what's stored in these wallets really, it's all just codes - it's purely
digital. There are the different types of wallets - there's the one on Coinbase
itself, but there are other sorts... There's the online - the cloud-based
wallets, where I upload - they're on servers, they're held actually on the
internet, and you know, you can keep your cryptos there... There's wallets which
are stored on your phone - there's phone-based wallets - mobile wallets, which
aren't that secure. Everyone's obviously trying to make them secure. This one - the
Exodus wallet, is stored on your laptop - so... or on your computer
and it's stored in one instance of it... So, it's not like I can access it from
my phone, I can access it... No, it's on this machine. I download it - it's an app
so here we are, I've gone to the Exodus site - this is Exodus.io - is the
address. www.exodus.io. This is one of the most used crypto wallets in the
world - that's really why and how I came across it - just because I was on
different forums, and different videos and talking to different people in
different groups, and Exodus, Exodus, Exodus keeps coming up as a name which
is kind of reliable, and as safe as they can be. The whole thing about cryptos, at
the moment - it's still a bit of a frontier technology. So it's...
There's hackers trying to get in, there's this, and there's that, but out of all of
them, Exodus seems to be one of the most recommended and safest ones. So, I went
looking at Exodus, and so far, I've found it really kind of, good to use.
So www.exodus.io - it's a separate program, okay. So this is an app, made by
you know - the people who make Exodus, and you go here, and you can see - you can download
it for Windows, Mac or Linux. So, you just click it, and when you click it, it opens
the familiar download link - so basically, you download this - you can find out about
a bit about Exodus on their page here. About, you know - help videos, and
support. You download this onto your computer - onto this laptop, is where I've
installed it. From now on, I can only try to access that from this laptop. So, that
may change in future, they may make it also a mobile app - but
at the moment, Exodus is only for, you know, desktops or laptops. When you
download it, the second you setup Exodus, okay, it'll give you sort of ... - any
encrypted keys, and it says "remember this, and keep this key" Remember it, and keep that key.
Don't just remember it, and don't store it on your computer - literally
write it down, or take a snapshot, print it out, and keep it all separately. One
thing they give you, when you sign up for Exodus, is they give you a 15
word backup key, okay. Because, let's say you're storing it on this laptop - you can
only then access your cryptos on this laptop, they're all being stored here.
Like the keys to what you own, and you know, what's yours and what's not - it
becomes your bank - your laptop. So, what happens if your computer fries?
That's it - you can't get back in, and you've lost all of that money... But, what
they do, is they give you a 15 word sequence - all right, so it's 15 words
random words, all in a specific sequence. And they say "take note of these -
these are your backup words." Because what that means is - if you ever, if your
computer fries, or you drop it in the sea, or lightning strikes it or something, and
it's gone, you use those 15 words to go to Exodus, and you type in those 15 words
and that will let you re-install. That's the only way you
can then re-install your version of Exodus - your personal bank, and
you'll have access to your cryptos again. So, they give you those 15 words, and take
note of them - don't just, sort of take a screenshot, and save that on your
computer, because if your computer's hacked, that also means that they'll have access
to your account, and to all of your cryptos... You don't want to do that. So
here is Exodus. If I go to 'Backup' at the bottom, I can reset my email and password
or I can show my 12 word phrase - I'm not going to show that, because you'll all be
able to just hack my account, and take my $300 worth of cryptos which I own.
So, that's where you can see your 12 word phrase after, but when you sign up, it
will automatically show you that. Take note of it, write it down, put it on a
piece of paper, and secure it offline. Secure it separately - put it in a vault
if you have one, hide it under your mattress - just keep that safe. So, if we look at
Exodus... 'Portfolio' - it's really simple, it's kind of beautifully designed - nice user
interface. So, my portfolio - in the beginning, it shows all of the cryptos
that I currently have. I currently have $319.48 worth of cryptos - Vanderbilt
over here... So.... And these are the percentages - these are what I have. I have
22 dollars in Bitcoin, 26 in Bitcoin Cash, 26 in civic, 98 in Dash, Decred
blah blah blah blah blah. Now, with these wallets, it's not like you can
just store - I thought you'd just be able to store any crypto in these wallets, but
no. You remember that thing I was saying - how you have to store Bitcoin in a
Bitcoin wallet, you can't put Ethereum in a Bitcoin
wallet - you have to have Bitcoin in a Bitcoin wallet, Ethereum in an Ethereum
wallet, Dash in a Dash wallet, you know... So this, Exodus, only
supports these currencies. These are the different crypto coins which you can
hold and store in Exodus. Obviously, if you want to have something else, like I do - I
want IOTA, so I'll have to go over to Bitfinnex, and buy IOTA there, and kind
of keep it there - because I can't keep IOTA, at the moment, in the Exodus wallet.
I can keep these specific ones, which is quite a lot - they're all on CoinMarketCap
which shows the different values of cryptos... These are some of the top ones
so these are the ones I'm currently storing in Exodus.
You can see the value going up, and down here, as the - as it changes. All of these
cryptos that I've got - that I'm holding - they're all still linked to the
exchanges live, so it's constantly showing you - showing me, the price that it
is now. For instance, when I bought DASH, I think I bought $85 worth of DASH. I now have
98.20 dollars worth of DASH, because it's gone up
in value... So, these are changing all the time.
It's the beauty of cryptos, you know - if you put your money in a bank account
obviously it just stays the same, unless they charge you fees, or you add more, or
you withdraw it - it's going to stay the same amount. In this, it's constantly changing
as the value of your cryptos changes. This is live, okay. So, there's your portfolio.
Now, these are your wallets - this is what I was talking about earlier. Whenever you
have a cryptocurrency - these are all the different cryptos that can be kept on
Exodus.... Here's that list - it's the same ones that are in the portfolio, these ones
here... This - these are the wallets for all of them. Now remember, each crypto has to
be stored in its own wallet. You can't keep Ethereum in a Bitcoin wallet, you
can't keep DASH in a Bitcoin wallet, you can't keep Bitcoin in a DASH wallet. You
keep Bitcoin in your Bitcoin wallet, BAT in your BAT wallet, DASH in your DASH wallet...
These are all separate little wallets, okay. So, whenever I want to send, I have
to send it to another address - or if I receive it, this is my Bitcoin address
and I'll put this address into the other place - this is where I want to send it to
okay - I want to receive it in my Bitcoin wallet on Exodus. So, you've got to think
like that - on each... When you're on Coinbase, and you've got your wallet
open, that's your Bitcoin wallet on Coinbase.
On Exodus, this is my Bitcoin wallet on Exodus, okay - and they'll have different
kind of, addresses - different little bits of code identifying the exact wallet
we're talking about. So, these are all the wallets for all of the different things
where I can send, or receive each of these different currencies from Exodus.
'Exchange' is very clever - this is an exchange which works inside the Exodus
wallet itself. It uses a separate service called 'shape-shift' to change one
currency to another. It doesn't just pretend, it actually does exchange them
but let's say I go to... I've got a lot of DASH in here - let's say I want to trade DASH for
Ethereum. I can go here, and I can put in 10 - hold
on a minute, let's put in 30... So I want to change 30 DASH - it will show me how much
Ethereum it would give me, and I can just press this one button 'exchange', and
it will actually exchange my DASH for Ethereum, and it will store it in the
correct wallet on Exodus. I could change it for Bitcoin - not enough. District
that's how much I'll get... So, it's quite a clever service, where I can change within
Exodus itself for other currencies if I want to... and that's really how I got all
of these currencies. Originally, I bought a lot of Bitcoin, and then I just started
trading the Bitcoin for these different currencies, just because I wanted them
you know - I wanted EOS, and I wanted Litecoin, and I wanted that - so that's what
I did. So, there's the exchange... You can exchange anything for anything
okay... Sometimes, it says 'temporarily unavailable' meh... you just
have to wait till it becomes available again on this exchange. So, there we are - I
can trade stuff, and I can move it about in there. 'Backup' is obviously where I can
show my 12 word phrase, which I should have written down in the beginning, or
where I can reset email and password. There's some settings down here, where I
can show and hide different currencies. I'm showing them all, because I want to
see them all... Then there's a 'Help' section... So, that's basically the wallet - it's a
place to store the cryptos, kind of securely, on this... and so, what I can do, is
I can then watch them all - have my eye on them all in here, and from here, I could
transfer them to any other crypto Exchange... To Bittrex, or Bitfinnex, or anything
and transfer them for other currencies. And remember, it's live, so it's not a
static account, you know - when I log in every day, I log in, and it - at the
moment, because cryptos are doing well, this value just goes up, and I can see
which one's gone up more, and you know - it's really quite a clever thing. So, the
next video is how I actually move money from Coinbase - my Bitcoin from Coinbase
to the exodus wallet. I'll show you...