Why doesn't my wallet have a password after restoring?

When you restore Exodus from your 12-word phrase, it overwrites the password that existed previously on your installation of Exodus. 

Often this creates confusion or concern, so this article is here to explain why this happens.

An important point to understand is that your 12-word phrase and password are not related.

  1. Your 12 word phrase is the seed used to create the wallet in the first place, which is why it can fully restore your wallet later. Your 12-word phrase generates all of your wallet’s private keys. You can think of your 12-words as your wallet in unencrptedtext form.
  2. Your password is used to encrypt the wallet on your computer, thereby keeping it secure from anyone who has access to your computer.

When restoring your wallet from the 12 words, Exodus overwrites any previously existing Exodus wallet on your system and re-generates the private keys for the wallet using those 12 words as the seed. Because the 12-word phrase is not connected to any password, that means that after restoring, there is no password protection on your wallet. It must be re-enabled by setting up a new one in the Backup menu. After restoring from your 12-word phrase, protecting your wallet with a password is the first thing you should do. 

Having an unencrypted wallet leaves you open to easy theft, so it is important you go through the backup process again. Remember to set a unique password, that you don't use in other services. Re-using passwords opens you up to the risk of theft.

I have an email backup link from an older version of Exodus, what do I need to do?

Note: The email backup link is only applicable to wallets downloaded before version 19.2.1 

While the 12 words are not associated with your password, your email backup is. The email backup is password protected to keep your funds safe in case your email account is breached. That’s why you need to enter your password any time you try to restore from your email backup URL. Setting a new a password will not replace the current password on the email backup link. If you believe your email has been breached or suspect your password has been compromised, you must create a new wallet to send your funds to.