Exodus Wallet Review - Investopedia
Exodus is free to download, access, and use. The wallet does not charge any fee for received assets. 5 However, when sending cryptocurrencies
Last updated
Exodus is free to download, access, and use. The wallet does not charge any fee for received assets. 5 However, when sending cryptocurrencies
Last updated
Easy setup process: Getting set up with Exodus on a computer and mobile devices is easy. Start by creating one wallet, then import it across devices using the 12-word seed phrase.
Supports 291 cryptocurrencies: Exodus supports an extensive array of crypto assets, including Bitcoin and Ethereum. Users can also store custom ERC-20 tokens by sending them to Exodus's Ethereum address.
Exceptional customer service: Along with a help page, Exodus offers chat and email support services for users. The wallet even allows users to message founders JP and Daniel directly, although the response could take a while.
Regular update schedule: Software updates are frequent; users can expect an update after every two weeks. However, users need to update their wallets manually on Exodus's official website.
Staking available: Since Exodus supports proof-of-stake blockchains, it offers a way for users to stake crypto assets directly from within the wallet. If you want to stake, you will need to lock your cryptocurrencies for a specific period.
Lack of 2FA security protection: Exodus lacks the traditional two-factor authentication method to provide an extra layer of security and instead relies on users supplying a password. It could have serious consequences if a user's password gets compromised.
No support for crypto-to-fiat conversion: Users do not have a way to exchange their crypto assets with fiat currencies directly within the wallet. To cash out, users need to send their assets from Exodus Wallet to a crypto exchange.
Not open source: Exodus is not open source. That means no one outside the company can see, modify, or distribute Exodus Wallet's software code. Therefore, the general public cannot review its robustness.
Lack of custom fee support for altcoins: Customization of network fee for Ethereum and altcoin is missing from the wallet. Currently, users can only customize Bitcoin and Ethereum network fees.
