Exodus Wallet Review 2024

Exodus Wallet Overview

What Is Exodus Wallet?

Exodus is a multi-chain crypto wallet that supports over 50 different blockchain networks. It allows users to store tokens from all of the supported networks in one, seamless wallet.

Billing themselves as the “only wallet you will ever need”, Exodus strives to provide a one-stop shop for your crypto needs, providing storage, cross-chain swaps, and staking while allowing users to interact with web3-enabled sites.

Exodus has apps for both Android and iOS mobile devices, as well as a browser plug-in and a desktop client. The desktop and mobile clients are great for managing your wallets, making swaps, and buying crypto with fiat. But, if you plan on connecting to web3-enabled sites and other dapps, you will need to use the browser extension, or access them with a mobile device through WalletConnect. The extension also allows you to access the same features that are available in the Exodus apps. Users can link their Exodus apps and browser extension together, allowing access to the same wallets from either place.

Exodus Key Features

• Storage- Access coins and tokens from across all supported blockchains in one, convenient wallet.
• Swaps -Exodus offers in-app swaps, allowing users to exchange crypto for a number of different tokens.
• Fiat on-ramp - Users can purchase crypto with fiat through Moonpay, Ramp, Sardine, and Robinhood Connect (availability varies based on location) using either a debit or credit card. The crypto will be deposited directly into your Exodus wallet.
• Crypto staking- Exodus supports in-app staking for a dozen different tokens.
• Transaction export- Though this may not be a sexy feature, being able to easily export your crypto transactions is a must-have for anyone who needs to keep up with their tax liability. Exodus will export your transactions in a .csv file on a per-chain basis.
• Desktop and mobile apps - Exodus has apps available for both desktop and mobile platforms, allowing users to access their wallets and purchase crypto with an easy to use interface.
• Browser extension - The Exodus browser extension lets users access web3-enabled websites and make transactions on supported blockchains using their Exodus wallet.

Our Expert Review of Exodus

Exodus is an excellent crypto wallet for new users and those who just want a central location to manage their tokens across many different blockchains. The wide range of blockchain support, fiat on-ramp, and in-app swaps all in one spot make Exodus a strong contender as a web3 wallet of choice.

Exodus can connect to most sites that I tried, including OpenSea and Magic Eden. Interestingly, Exodus will even intercept calls to MetaMask, offering to be the login wallet instead. Which is great for sites that don’t offer Exodus-specific logins. But it’s not so great if you’re actually trying to use your MetaMask plug-in!

Installing and using Exodus was a breeze. I didn’t have any trouble with the desktop version, the mobile app, or the browser plug-in. Exodus supports easy syncing between devices with QR codes.

They also let you pair your Exodus wallet with your Trezor wallet. This feature gives users a convenient way to access their cold wallet while still maintaining the security and privacy offered by using a Trezor hardware wallet.

I took the time to check out some of the key features offered in the Exodus wallet and see how well they worked.

Crypto Storage

With its wide array of support for different blockchains, and a large number of tokens on those blockchains, Exodus can be a single, centralized location for all of your wallet needs. With the browser extension enabled, you can even connect to all of those different chains with one app!

Transferring tokens into your Exodus wallet will cost you a transaction fee based on the network used. For tokens that exist on multiple networks, Exodus will let you choose which network to use for your transfers.

Swaps

At first, the ability to easily swap tokens in-app seems great. And it is a very useful feature. But, you will pay to use it. For one, Exodus charges a percentage of the amount swapped. This varies based on swap tokens, but it can be as high as 12%, which can be pretty significant! On top of that, you can’t swap directly between all tokens. There are about twelve main tokens that need to be on one side of the swap. And while this does provide extensive coverage, if you want to swap between two tokens that aren’t on the main list, you’ll have to do two trades instead, paying fees for both.

The swap interface itself is easy to understand. And all fees are calculated into the swap. So what you see as the output is what you will get. Also, the ability to swap tokens between chains (e.g. exchanging SOL tokens for tokens on the Ethereum network) is a nice feature.

Fiat On-ramp

Exodus supports the in-app purchase of crypto in numerous different types of world currencies, including USD, EUR, GBP, AUD, and more. Purchases are made with Moonpay using a credit or debit card. Transacting with Moonpay happens through an off-app webpage, but any crypto purchased will appear directly in your Exodus wallet.

Exodus does offer a fiat off-ramp option through Moonpay. Though this feature is not available in some countries and some U.S. states.

Crypto Staking

Users have the option of staking a dozen different cryptocurrencies through Exodus. Staking generally requires a network transaction fee depending on the token being staked. Some staking options also have minimum deposits and require an unstaking period. Thankfully, the Exodus wallet provides all this information for you upfront. Staking crypto through the Exodus wallet is a simple and seamless process.

Desktop, Mobile, and Browser Extension Apps

Exodus has downloads available for desktop apps (Windows, Mac, and Linux all supported), mobile apps on both Android and iOS devices, and a browser extension for Chrome / Brave. They mobile and desktop apps provide a nice, clean interface for accessing your wallet, as well as making in-app swaps and purchasing crypto. The browser extension also supports these features (though with a much smaller interface), well also letting you easily interact with web3-supported websites using your Exodus wallet.

Customer Support

Exodus includes a built-in knowledge base with answers to basic questions in their desktop and mobile apps. The knowledge base covers a wide variety of topics and should provide the answers for most of the basic questions about Exodus.

In addition, the Exodus YouTube channel has a number of educational videos about staking and other wallet features, as well as information about blockchain technology and specific coins.

Email support is accessible from all of the apps and the Exodus website at any time of the day or night. In my email support test, I sent them a basic question at 8:37am CST, and it took about 20 minutes until I received a non-automated response.

Who’s Exodus For?

Exodus is for those who want to be able to easily buy coins and tokens with fiat and other crypto. Exodus is also great for those new to crypto. Their wide availability across devices, easy-to-use interface, and fiat on-ramp provide an excellent starting point for crypto newbies. Or those who just want an accessible, multi-chain wallet to help them store all of their accumulated coins and tokens.

Who’s it Not For?

Exodus is not for someone who already has existing wallets and is hoping to manage them in one spot. Though Exodus can serve that function, you have to first get your funds into your Exodus-created wallets. And while you can "import" with existing private keys, the import process actually transfers the funds from the imported address into your Exodus wallet address, which is not quite the same as using Exodus to access an already existing blockchain address.

Also, the fact that Exodus tried to get in front of calls to MetaMask can be kind of annoying if you have a MetaMask wallet that you use regularly.

Exodus Alternatives

Exodus certainly isn’t the only crypto wallet available. And it’s not the only one with multi-chain support. Let’s take a comparison look at a couple of Exodus’ more popular competitors and see how they stack up against each other.

Exodus vs MetaMask

Exodus and MetaMask are two of the oldest web3 wallets around. And though MetaMask began as a pretty simple wallet, they have grown over the past couple of years to include in-app swaps, token bridging, and fiat ramps. This brings their feature set in line with Exodus and even offers a little more flexibility. In addition, MetaMask allows access to several different service options for fiat on-ramp and off-ramps, where Exodus only connects to Moonpay.

However, Exodus has the advantage of user-friendliness. Their simple, but pleasing user interface will likely seem much more comfortable and familiar to those new to the crypto scene. And the ability to easily see your portfolio across several different chains in one spot is a nice feature for those who have their investments spread out widely.

Exodus vs Atomic Wallet

Atomic Wallet and Exodus are very similar in many ways. They both offer a centralized location to manage tokens across multiple chains. They both are non-custodial (meaning only you have control over your private keys) and offer in-app swaps as well as fiat on-ramps.

Atomic Wallet offers more staking options, and the ability to swap between any supported tokens. Exodus offers a browser plug-in (which Atomic does not) and has a slicker interface. So the choice mostly comes down to personal preference, and if the app supports the blockchain and fiat options you need.

Can I trust Exodus?

Exodus is a long-established player in the web3 wallet market. They have been around since 2015, which at this point, would be considered the early days of crypto.

Exodus is based in Nebraska, USA, and is a publicly-traded company (OTCPK: EXOD). The Exodus wallet has never suffered any publicly known hacks. As a non-custodial wallet solution, Exodus does not have access to your private keys.

The Exodus team releases a new update every two weeks, ensuring that any new vulnerabilities are patched promptly.

One knock against the Exodus Wallet is that it doesn’t support 2FA (two-factor authentication) security measures. But, due to the self-custody nature of the Exodus Wallet, two-factor authentication, would not prevent someone with your wallet's secret recovery phrase from gaining access to your funds. Ultimate safety when using the Exodus wallet requires you to keep your recovery phrase, safe and secure.

Final Thoughts

Exodus’ support for a large number of cryptocurrencies and blockchains provides an enticing solution for those who need or want a centrally managed wallet. In addition, the availability of Exodus across different platforms and its simple but effective interface makes this wallet an excellent choice for newcomers as well.

For veteran crypto users, Exodus may not be a top choice. Or perhaps only as a secondary wallet option.

Their in-app swaps are more limited than I would like. And the high trading fees can be a put-off as well. As an established MetaMask user, I found the Exodus plug-in to be very annoying. I had to disable it in order to login to sites using MetaMask.

But overall, Exodus is an excellent multi-chain wallet and a fine choice for most users.

Frequently Asked Questions

Is my Crypto safe in the Exodus Wallet?

Exodus is a self-custody wallet. That means that only you have access to your twelve-word seed recovery phrase and your private wallet keys. And though this makes your crypto safe from outsiders, it also makes you responsible for your private keys and passphrase. Always be sure to write these down and keep them somewhere safe and offline. If you do keep these keys electronically as well, it’s best to encrypt the data rather than holding them in plain text files.

What if Exodus goes bankrupt?

With the still-recent collapse of FTX, Celcius, and other crypto exchanges, concerns about companies going under and taking your crypto funds with them are certainly valid! But, since Exodus is a self-custody wallet, even if they go out of business, they cannot access your funds.

In addition, with your private keys, you can access your funds from outside of the Exodus apps. This allows you to retrieve your funds if something goes wrong.

Who is behind Exodus?

Exodus was founded by JP Richardson and Daniel Castagnoli. JP Richardson has posted over 200 open-source libraries and written code used by blockchains today. Daniel brings a creative aspect to the project, having designed for companies such as Apple, BMW, Disney, Louis Vuitton, and Nike.

When was Exodus founded?

Exodus was founded in 2015.