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Exodus Wallet Review 2021 — Details, Trading Fees, and Features

Exodus Wallet Review 2021

Introduction

This Exodus wallet review discusses most of the things about the wallet and its features. However, this article should not be taken as financial advice. Instead, we urge the traders and investors to do their own research before getting involved in cryptocurrencies.

The number of new crypto asset projects continues to increase day after day. In fact, every day, new tokens are created using the blockchain of crypto assets like ETH, MATIC, and BSC. For this reason, traders and investors tend to look for a quality wallet where they can store their crypto safely. This is the part where Exodus wallet enters, a crypto wallet known for its good features and security.

Exodus wallet is one of the wallets in the crypto world that was founded in 2015. It was founded by JP Richardson and Daniel Castagnoli that aims to provide a secure way to store crypto assets along with other great features. Furthermore, the crypto wallet is a multi-asset wallet that supports over 100 crypto assets. Through this, users of the wallet can enjoy and store most of their crypto assets all in one place.

Upon its creation, the Exodus wallet is first available to access on a pc through its desktop version. But of course, due to the advancement today, the wallet can now be used on mobile devices. In short, the wallet can now be downloaded in Google Play Store and Apple App Store. Truly, this made the wallet more convenient to use anytime, anywhere, using mobile devices.

Best of all, Exodus supports hardware wallets such as Trezor Model T and Trezor One. For this reason, traders and investors using the wallet can transfer their crypto assets to cold wallets for tighter security. Also, this eliminates the fear of crypto holders regarding cyber threats and other wallet hacking activities.

On the other hand, aside from being a multi-crypto storage platform, the wallet also rewards all its users. This reward system is made possible by Exodus through its staking feature. For instance, users can directly send crypto such as VET and ADA to the Exodus wallet that can directly earn rewards. Of course, not all crypto-assets can earn rewards in the wallet. It still depends on Exodus’s decision.

Exodus Wallet Details

Websitehttps://www.exodus.com
Available on mobileYes
Number of supported coins/tokens100+
Native tokenEXIT
Supported fiat currenciesCAD, AUD, GBP, and more
CEOJP Richardson
HQ LocationOmaha, Nebraska, USA

History Overview

In 2015, (as mentioned) the crypto wallet was founded by JP Richardson and Daniel Castagnoli. Currently, Richardson holds the position of Exodus’s Chief Technical Officer (CTO). He has a rich background in blockchain and has published and authored over 200 open source libraries and crypto software on the internet.

On the other hand, Castagnoli plays the role of Exodus Chief Creative Officer (CCO). In terms of professional experience, Castagnoli has worked with big and famous companies such as Disney and Apple. 

As years go by, the wallet continues to grow its reputation and its supported crypto assets. In 2017, the wallet had to let go of one of its crypto assets in the platform. Dogecoin (DOGE) was removed from the supported crypto assets of Exodus since the DOGE network has not updated its insight components for years.

Six years after its founding date, the company gained its SEC approval in 2021. To be specific, Exodus wallet gained the approval of the U.S. SEC on its offering of Class A common stock  (OTCBB: EXDSQ). Truly, this event made the Exodus team happy together with its investors around the world.

Exodus Wallet Platform Interface

The website’s user interface is one of the most important factors that attracts traders and crypto holders to the platform. In addition, a good website must possess features that will enhance the user experience of the platform.

Exodus wallet is one of the user-friendly crypto storage in the market. In fact, when users visit the website, the page has a video tutorial clip. This clip guides users on how to use the Exodus wallet in a seamless way effectively. Therefore, news users on the platform will be able to navigate the platform easily without getting lost.

Exodus Wallet Platform Interface

Exodus Wallet Platform Interface: https://www.exodus.com/desktop/

Exodus Wallet Key Features and Functions

  • Free to use and download
  • 24/7 customer support
  • Support major crypto assets
  • Exodus wallet does not possess the knowledge of its users’ assets
  • Support cold wallet storage

Supported Cryptocurrencies

Accepted Payment Methods

This part of the Exodus wallet review article discusses the supported crypto assets of the platform. Furthermore, the wallet supports more than 140 digital assets. As a result, users of the wallet can have the chance to store more types of virtual currencies all in one place. Indeed, this is a feature of the wallet that brings convenience to all its users globally.

Aside from its storage feature, the wallet also enables its users to earn rewards by just simply storing the crypto inside their wallet. This process is called staking — one of the great features made possible by blockchain.

BTC – Bitcoin      USDT – Tether USD
ETH – Ethereum  BNB – Binance Coin
XLM – Stellar       DASH – Dash Coin
BSV – Bitcoin SV BTG – Bitcoin Gold
XMR – Monero     LTC – Litecoin
EOS – EOS          BCH – Bitcoin Cash

Note: The crypto’s shown above are just some of the digital assets supported by the Exodus wallet. Hence, for a full list of supported crypto’s you can click the link on this Exodus website.

Deposit/Withdrawal/Trading Fees

Transaction fees are one of the most important things traders normally check when choosing the right crypto wallet. In this part of the Exodus wallet review article, we will discuss the fees related to the Exodus wallet.

Unlike other platforms in the crypto market, the Exodus wallet does not charge a fee for sending or receiving crypto assets. However, the use of blockchain inside the wallet is not free. In short, users of the Exodus network will still experience fee charges in doing transactions. It should be noted, the fees go directly to the network miners, not Exodus.

To know more about the fees related to the Exodus wallet, watch this video below:

Accepted Payment Methods

One of the unique functions of the Exodus wallet is to be able to buy crypto assets inside its platform. Unlike other wallets, Exodus offers various ways to buy Bitcoin using major debit and credit cards.

In places such as Algeria, Bolivia, Canada, and Switzerland, etc., Exodus is supported. Users of the Exodus wallet in these countries can freely buy Bitcoin without restrictions. For the list of countries that support the Exodus wallet, click the link here.

Furthermore, the network also follows the rules and restrictions imposed by some other countries around the world. For this reason, there are some places globally where Exodus transactions are not allowed.

On another note, aside from the traditional credit and debit cards, Exodus supports Apple Pay. The network announced that the latest version of its Exodus wallet now allows users to purchase BTC using Apple Pay. Indeed, this feature of the wallet provides convenience to all its users using iPhones and other Apple devices (i.e., iWatch).

Exodus Wallet Pros and Cons

Pros

  • Available on mobile devices
  • Supports over 100 crypto assets
  • Friendly and clean user interface
  • Enables users to buy BTC using Apple Pay
  • Allows major credit and debit cards
  • Professional customer support
  • Supports cold wallet storages

Cons

  • No multi-signature support or two-factor authentication

Final Score

Finally, the final score of the Exodus wallet. As a result, this final score is based on the analysis and personal view of Coin Quora. Nevertheless, this is not financial advice. Therefore, traders and investors must do their own research before investing money into crypto exchanges.

  • Services offered: 3/5
  • Cryptocurrency support: 3/5
  • Fees: 3/5
  • Supported fiat: 3/5

Review Score: 3 / 5

FAQ

Is Exodus a wallet or exchange?

The Exodus wallet is a hot wallet. It is available via computer or mobile device. Furthermore, it also has a function where users can swap one crypto to another. But, it is not an exchange. It is just a crypto wallet where users can store multi-crypto assets.

Is Exodus a good Bitcoin wallet?

By far, the Exodus wallet maintains its good reputation in the crypto world. In fact, Exodus wallet is willing to give rewards to anyone who can discover any vulnerability with the ability to attack/drain a wallet without physical access.

Is Exodus better than Binance?

The Exodus wallet is different from Binance. To be specific, the Exodus wallet is a hot wallet while Binance itself is a crypto exchange.

Is Exodus a hardware wallet?

Exodus wallet is a hot wallet that can be accessed on a computer or through mobile phones. Therefore, no it is not a hardware wallet.

Is exodus wallet safe?

The Exodus wallet separates the users’ crypto assets from the exchange which is prone to cyber-attacks. However, it is still advisable that users of the wallet practice due diligence and protect their seed phrases to ensure the safety of their crypto assets.

Disclaimer: All information in this Wallet Review article is solely for the user’s information and nothing else. No information in this article should be interpreted as investment advice. CoinQuora does not endorse any product or service from any company on its website, directly or indirectly.

A dedicated market analyst focused on the highs and lows of the cryptocurrency market. With a background in Business Administration, he tries to unfold his financial perspective to global readers.