Exodus, the design-focused multi-asset wallet, has integrated ShapeShift’s instant exchange service directly into its application. Announced on October 5, 2016, the integration allows users to trade between blockchain assets without ever leaving the wallet interface.
In-App Trading: Simplicity Meets Functionality
Exodus currently supports Bitcoin, Ethereum, Litecoin, Dash, and Dogecoin, with plans to add more assets. ShapeShift, meanwhile, supports instant swaps between 38 different crypto tokens and requires no user accounts, registration, or KYC — a major draw for privacy-conscious users.
Daniel Castagnoli, Exodus chief creative officer, commented: “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.” Erik Voorhees, ShapeShift CEO and Exodus’s first investor, praised the wallet: “Exodus has to be the most beautiful cryptocurrency wallet ever made.”
Design-First Approach
Exodus prioritizes design and ease of use. Its setup process is reportedly the simplest among crypto wallets — ready to use as soon as the app launches. A central pie chart displays the user’s entire portfolio and proportional value. Private keys are stored locally on the user’s device, and balances can be recovered via automated email backup or a recovery phrase. Password protection is mandatory.
Founders Castagnoli and J.P. Richardson started building Exodus in mid-2015. They hold over 90% of their personal wealth in crypto assets and pay all contractors in cryptocurrency.
Competition Heats Up
Exodus is comparable to Jaxx, another multi-asset HD wallet that also integrates ShapeShift. However, Exodus is currently limited to Windows, macOS, and Linux desktops, while Jaxx offers mobile apps. In April 2016, ShapeShift suffered a $230,000 theft (allegedly an inside job) but reimbursed customers and continued operations.
As software developers target mainstream users who demand versatile features, the era of clunky single-asset wallets is fading. Multi-asset, decentralized utilities are becoming the new standard, and Exodus’s partnership with ShapeShift exemplifies this shift.