*Exodus is an application or APP which you use on your computer or your phone aa a wallet, but instead of holding paper money and plastic credit cards, it holds digital money called cryptocurrency like Bitcoin.
Exodus: a self custody cryptocurrency wallet
1. Self custody means you are the Boss or person who controls the cryptocurrency
In a normal bank, the bank keeps your money secure, but under their lock and key, so they control it. But wiith Exodus, you are the only one who holds the "keys" to your money. This is called "self-custody." You are in charge of keeping your money safe and no one else.It’s like having a safe in your house that only you have the combination to. Exodus provides the safe, but they don't have a copy of your code.
2. A Giant Expandable Digital Backpack
Exodus is like having a digital backpack which is expandable enough to hold 21,000 cryptocurrency tokens, but never actually gets physically bigger.
Exodus supports over 21,000 different types of digital assets. This includes:
- Coins: Digital money like Bitcoin or Ethereum.
- NFTs: Special digital items, like digital art or trading cards.
Imagine a backpack that can hold thousands of different types of toys, and you can see all of them in one place.
3. Sending and Receiving
Exodus makes it easy to move digital money around:
- Sending: You type in the address where you want to send the cryptocurrency, which is usually a long string of numbers and letters (kind of like a digital mailing address) and the amount you want to send. Click a button, and the money goes there.
- Receiving: You give your own digital address to a friend, and they can send money straight into your wallet.
4. The Digital "Swap Meet"
Inside the app, Exodus has tools that let you do extra things:
- Exchanging: You can trade one type of digital coin for another (like trading a baseball card for a Pokémon card).
- Staking: This is like putting your digital money to work to earn a little bit of "interest" or extra money over time.
- Fiat Onboarding: This is a fancy way of saying you can use "real world" money (like U.S. Dollars) to buy digital coins for the first time.
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