Exodus Wallet Now Has Built-in ShapeShift Trading

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Exodus Wallet Now Has Built-in ShapeShift Trading

Exodus, the multi-asset wallet with a strong design and usability emphasis, now includes ShapeShift built-in. This allows users to trade between blockchain assets without leaving the wallet app.

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In-App Trading

ShapeShift.io announced the move on October 5, saying it had worked with Exodus since late 2015 to integrate its API.

Exodus users can maintain balances in Bitcoin, Ether, Litecoin, Dash, and Dogecoin. The developers say they are working to include more assets in the future.

ShapeShift currently supports trading between 38 crypto tokens and currencies. Moreover, it does not require user accounts, registration or any kind of identification — a feature many find attractive.

Daniel Castagnoli, Exodus chief creative officer, said:

“Erik and his team understand the overall customer experience, design, marketing and support. The ShapeShift integration inside Exodus is just the beginning of what we can now do together.”

Exodus’ Design Focus

Looking at Exodus’ website and instructional material, it’s clear the company is focusing its efforts on design and usability.

Exodus' Daniel Castagnoli
Exodus’ Daniel Castagnoli

The company says its setup process is simpler than any other Bitcoin or crypto wallet — reportedly ready to use as soon as the app starts. A pie-chart-like diagram at the center shows a user’s entire portfolio, and each token’s proportional value.

However, users must have a balance of some kind to backup their keys. Private keys are stored locally on each user’s device, but balances are generally recoverable even if a device is lost.

Users can recover balances via Exodus’ automated backup email system, or by recording their recovery phrase (like other HD wallets). Exodus also requires password protection, and it’s imperative users remember them.

ShapeShift CEO and founder Erik Voorhees, who incidentally was Exodus’ first investor, praised the app’s design.

“Exodus has to be the most beautiful cryptocurrency wallet ever made,” he said. “It’s one of those products you try once and instantly see the magic.”

Founders Castagnoli and J.P. Richardson first started developing Exodus in mid-2015. The two are huge cryptocurrency proponents, saying they hold over 90 percent of their personal wealth in crypto assets of some kind, and also pay all contractors in the same.

Wallets Becoming More Sophisticated

Exodus is in several ways similar to Jaxx, another multi-asset HD wallet. Jaxx also features ShapeShift integration, and also has iOS and Android apps. For now, Exodus is available only on Windows, MacOS and Linux desktops.

Erik Voorhees ShapeShift
Erik Voorhees

ShapeShift launched in 2013, and revealed Voorhees as its owner in early 2015. In April 2016, it suffered a $230,000 theft Voorhees claimed was an inside job. However, the company returned immediately and remains in business, with no customers losing money.

Blockchain fans can expect more competition in this space as time goes on, as software developers chase more mainstream, non-technical enthusiasts — who also like more versatile features. The clunky, bare-bones bitcoin wallets of the past are a distant memory as users embrace multi-asset, decentralized utilities.

Are you an Exodus user? Will you become one, with this feature added? Let us know in the comments below.

Images via Shutterstock, Exodus, LinkedIn

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