Backing up your Exodus Wallet
Exodus has a built-in backup process. It is essential to have a copy of your backup phrase for every wallet you use. Additionally, if your device breaks or is lost the backup phrase is used to restore your wallet and balance on your new device. Also, if your device breaks or is lost and you don’t have the backup phrase your coins will likely be gone forever. The instructions below will take you through the process step-by-step to backup Exodus Wallet.
- Firstly, download and open Exodus. You will be greeted with the Portfolio interface, which will show the balance as null. Click Backup on the left-hand sidebar, where a message will appear stating that Exodus is ‘waiting for your first deposit.’ The Exodus wallet will not offer the backup function until any amount of Cryptocurrency is deposited.
- Transfer Cryptocurrency to Exodus to enable the backup function. To do this click wallet > the coin you would like to deposit > receive. For example, if you want to deposit Bitcoin, click Bitcoin, then click receive. Use the wallet address provided to deposit the coins to your Exodus wallet. This will enable the backup function within Exodus.
- Once you have deposited coins the backup function will be available. Click the backup option on the left-hand sidebar. Exodus will ask that you create a password. Note – The wallet will not allow you to create a weak password. Ensure you create a password you will remember as it is the key to accessing your wallet. If you’re not confident in your memory write the password down. Ensure it is stored somewhere safe and secure. The next step will ask that you re-enter the password to ensure they match.
- The next screen shows your 12-word backup phrase. This phrase is very important, we strongly recommend viewing the backup phrase privately. If anyone gains access to these 12 words they will have access to your wallet, and therefore your Cryptocurrency. Note – there is an option to print the phrase. We suggest writing down (or printing) two copies and storing them in secure separate locations in case a copy is damaged by fire, water or simply deteriorates over time. You can never be too careful!
- The last step in the backup process involves entering your email address. A backup link will be sent to your email address, which can be used to restore your wallet, similar to the backup phrase. The backup link is a one-click way of restoring your wallet on a separate device in case your current device breaks or is lost. You simply log into your email account on the desired device, find the backup email, and click on the link. Ensure you do not delete the email once received.
What’s the difference between the backup phrase and backup link?
If someone gains access to your backup phrase, they will have access to your Exodus wallet and all coins stored on it. However, if someone gains access to your backup link, they cannot access your Exodus wallet unless they know your password as well.