The Crypto Dad show you how to restore the Exodus Multi-Currency Wallet from backup using the build-in “restore from backup link” feature.
The Exodus Bitcoin Wallet can be found at:
The cryptographic tools can be found at:
GnuPG Privacy Guard
Gpg4Win (The Windows version of GnuPG)
We verify our Sha256 with:
MD5 & SHA Checksum Utility
What is the Exodus Wallet?
The Exodus multi-currency wallet is software that runs on your computer. It is an application that allows you to send, receive and store bitcoins, ether tokens, and many other crypto-currencies. It also has advanced features that allow you to check your current balance, see a list of transactions, and even maintain several “wallets”. It does this by allowing you to access a bitcoin address on the Bitcoin Blockchain. Access to a Bitcoin address is provided by a cryptographic key-pair. The key-pair is a public/private asymmetric cryptographic key. The public key is the receiving address. This is the address you can share with others, so they can send you bitcoins. The private key is the part that allows you to send bitcoins. The Exodus Wallet software creates a new key-pair whenever you create a new wallet. It stores the private key on your computer. The private key is protected by on-disk encryption. Exodus will automatically decrypt the private key when you wish to send bitcoins. Access to the private key is also enhanced by a password of your own choosing that you can set when the wallet is created. Best practice is to choose a strong password for your Exodus Wallet.
What is Bitcoin?
Bitcoin is a new technology that functions as a digital currency. It is a peer-based, decentralized way to hold, store, send, and receive value. It does this by maintaining a cryptographic “ledger” called the Blockchain. All of the bitcoins in existence are created and stored on the Blockchain.
Bitcoin with a capital “B” refers to the technology itself. Bitcoin spelled with a little “b” refers to the tokens that hold the value and can be exchanged with others.
Multiple copies of the Blockchain exist on thousands if not millions of computers worldwide. Each copy of the Blockchain “verifies” itself by connecting to the Internet and making sure it has the most up-to-date list of transactions. The Blockchain maintains its integrity by using strong, modern, encryption techniques. This makes it impossible for anyone to alter the ledger, create fake transaction or “double-spend” their bitcoins.
Bitcoins do not require banks or third-party financial services to act as central clearing houses for electronic transfers. In essence, Bitcoin technology “cuts out the middleman”. Bitcoin is a decentralized, peer-to-peer monetary system that exists outside of the traditional, centralized, fiat-currency based financial system.