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Exodus Wallet was co-founded in 2015 by JP Richardson and Daniel Castagnoli in an effort to remove the geek requirement associated with cryptocurrency. They focused on creating a beautiful user interface to achieve a simple experience while exchanging digital assets.
Exodus offers free downloadable desktop and mobile versions of their cryptocurrency wallet, while also having hardware wallet compatibility with theTrezor OneandTrezor Model T. By providing a built in exchange and being one of the only software wallets that offers hardware wallet compatibility, Exodus Wallet has been well-received by many in the crypto community. Our Exodus Wallet Review will help you decide if it is right for you.
If you find this review helpful please support the CryptoVantage team when signing up for Exodus by using the referral code: 6EI5S1
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Evan Jones
Written by Evan Jones Arrow Right Cryptocurrency expert and consultant
Evan Jones was introduced to cryptocurrency by fellow CryptoVantage contributor Keegan Francis in 2017 and was immediately intrigued by the use cases of many Ethereum-based cryptos. He bought his first hardware wallet shortly thereafter. He has a keen and v...
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Jan 15, 2024
Reviewed by Arthur Crowson
Exodus Overview
- Free to download for desktop & mobile
- Supports multiple hardware wallets
- Supports over 100 cryptocurrencies
- Great customer support
CostFree to Download
Cryptocurrencies100+
Platforms SupportedWindows, MacOS, Linux, Android, iOS
Meet Our Reviewing Team
Pros
One-click crypto exchanges any time
Human support desk available 24/7
Easy to use interface
Free to download with no registration required
Hardware wallet support (Trezor One and Trezor Model T)
Cons
Mobile app supports less cryptocurrencies
No way to buy cryptocurrency in the app
Doesn’t support cryptocurrency to fiat transactions in-wallet
Beginner Perspective of Exodus Wallet
Exodus is a very solid option for crypto newbies. It’s not quite as easy as the custodial options on exchanges like Coinbase and Gemini (where you essentially buy your coins and just let them sit on the exchange) but it’s definitely one of the simpler non-custodial options.
Using Exodus removes the need for registration, as done on an exchange, and provides an easy to use layout. The average person can expect to have a simple, headache-free experience with the built in exchange and storage of cryptocurrencies in the wallet. The top-notch security that Exodus offers its users is an added bonus.
With Exodus, the initial purchase of cryptocurrency must be done through another app or exchange. Those crypto assets can then be sent to Exodus. Although an extra task, it’s extremely important that beginners to cryptocurrency learn how to store their purchased crypto assets in a non-custodial wallet, like Exodus.
Best Features
While security is always going to be the most important element of a cryptocurrency wallet it should be mentioned that Exodus’ killer app is its beautiful software. The software does an exemplary job of visualizing your crypto holdings and the thoughtful UI makes navigation a breeze. A good UI can actually save you from costly crypto mistakes so you shouldn’t underestimate the benefit of good software.
Exodus Wallet is also free to download, offers one-click exchanges, provides hardware wallet support. Private keysand transaction data are stored on the users’ device, and there is 24/7 human support available.
Its easy to use and aesthetically pleasing layout make one-click exchanges of cryptocurrency and tokens simple. Exodus doesn’t have any knowledge of users’ blockchain assets, and all keys and transaction data are stored on the users’ device, providing privacy and security. Perhaps the best overall feature of Exodus is that it supports Trezor One and Trezor Model T hardware wallets. Hardware wallets are the most secure way to store your cryptocurrency. Wallets such as Jaxx Liberty Walletor Atomic Wallet do not support any type of hardware wallet.
Another huge advantage of Exodus is that it offer crypto rewards right in the wallet with no risk to the user. That means you can stake something like Cardano (ADA) and receive a percentage of yield back. Exodus takes a small percentage of the yield but it’s a great way to earn passive income on your crypto for essentially no risk.
Here’s an example of the eye-pleasing Exodus desktop software:
Cryptocurrencies Supported
Exodus wallet supports over 100 cryptocurrencies and tokens including all the heavyweights like Bitcoin,EthereumandLitecoinbut also some rising stars likeStellar,Dai, Lisk and more. Here’s a look at some Exodus Wallet supported coins:
- Bitcoin (BTC)
- Ethereum (ETH)
- Stellar (XLM)
- Tether USD (USDT)
- Bitcoin Cash (BCH)
- Litecoin (LTC)
- EOS (EOS)
- Monero (XMR)
- Bitcoin SV (BSV)
- Binance Coin (BNB)
- Chainlink (LINK)
- Cosmos (ATOM)
- DAI (DAI)
- Tezos (XTZ)
- Tron (TRX)
- Cardano (ADA)
- Brave Attention Token (BAT)
Security & Customer Support
Exodus is renowned for offering an exceptionally secure product with a number of powerful security features.
The first stage of Exodus Wallet’s security is the user-created password. This password is required for access to the wallet once set up, along with confirmation of transactions and viewing private keys.
The next step is copying a randomly generated 12-word backup seed phrase which can be used to recover access to the wallet if your device is lost or stolen. All data stored on the users’ device or sent when making a transaction is fully encrypted. Exodus has no knowledge of or access to your cryptocurrency, ensuring transparency.
Creating a 12-word backup seed phrase is common for most cryptocurrency wallets and it should be taken seriously. If you lose your 12-word backup seed phrase than you will not be able to recover your crypto in the case the Exodus software is deleted or the device where it’s installed is lost or destroyed.
Finally Exodus is also known for having a quality customer support team that will answer your questions promptly. Exodus is a bigger company that most cryptocurrency wallets so they offer more support than the average crypto wallet company.
On the negative side several people have been scammed by downloading fake Exodus wallets on the Google Play Store. That’s no fault of Exodus itself but you should be very careful when downloading Exodus software. Double check that you are downloading from the correct location and remember that Exodus will never ask for your 12-word backup seed phrase.
What Operating Systems Does Exodus Support?
Exodus is available for pretty much every device that you could think of. That means you can run it on PCs running Windows or Linux. It’s also available for Apple computers running MacOS.
In addition Exodus has a mobile app for both Android and iOS mobile operating systems so you can run it on iPhone, iPad and most Android devices.
Finally Exodus hardware wallet support (which dramatically increases your protection). Currently you can use either the Trezor One or Trezor Model T in conjunction with the desktop wallet to get an extra layer of security. This is highly recommended.
Unfortunately you won’t be able to use Ledger devices (Such as the Nano S or the Nano X) because Ledger has its own competing software wallet.
What is Ramp on Exodus?
Ramp is Exodus’s payment partner for buying crypto directly from your wallet. Yes that means you can buy crypto directly from the mobile Exodus app without having to use an exchange.
Buying crypto using Ramp is extremely simple and has the benefit of being deposited to your Exodus wallet so you won’t have to transfer it. Currently Ramp on Exodus offers a collection of 20 different cryptocurrencies for purchase include Bitcoin, Ethereum, Solana and USDC. Ramp accepts Visa, Mastercard and Apple Pay in most jurisdictions with Google Pay on the way.
You’ll need to provide a small amount of identity verification to make a purchase using Ramp. Here’s a quick video from Exodus that shows how to use Ramp:
Potential Dealbreakers
The main downside of using Exodus Wallet is that you cannot make an initial purchase of cryptocurrency directly through the wallet. Instead, users must use an exchange, whether centralized or decentralized, in order to turn their fiat currencies (USD, CAD, EUR) into digital currency. They can then transfer their cryptocurrency into their Exodus wallet.
This is true of many cryptocurrency wallets but some of started to offer access to exchanges directly in the wallet so you are able to cut down on the number of steps required to buy and store crypto.
Finally you should watch out for fake Exodus wallets. Exodus has become such a popular wallet among the crypto community that hackers have created copies of it to try and scam people out of their crypto. Always make sure you download directly from the Exodus website or the select the current software in the app store.
Conclusion: It's Hard to Beat Exodus
Put simply: Exodus is one of the best free crypto wallets available.
There are plenty of competitors in the space but Exodus offers an extremely high level of security (particularly when combined with a hardware wallet) a ton of different features (including staking and Web3) and an industry-leading UI.
It’s very easy to recommend Exodus to new crypto users because the slick design makes it very easy to understand what’s going on. This is in stark contrast to some of the more complicated software experiences (such as MetaMask or MyEtherWallet).
If you found this review help, please help support the CryptoVantage team when signing up for Exodus by using the referral code: 6EI5S1
Exodus Frequently Asked Questions
Exodus Wallet, as a company, has never been hacked, and because they store none of your keys, or asset information. Your assets are stored on the blockchain, not with Exodus.
If you are careful about setting up and securing your wallet, your device has not been compromised by malware or a keylogger, and you keep your recovery phrase safe, then your coins are safe using Exodus Wallet.
While there are components of Exodus Wallet that are open source, it is not open source software.
Yes! Exodus Wallet is compatible with iOS and therefore works on iPhone. However, only about half of Exodus Wallet’s supported coins are supported on the mobile app. Users wishing to maximize the number of tokens and assets they can exchange will need to use the desktop wallet at some point.
Exodus was founded in 2015, so while it is not brand new, it is still in its early stages of existence. Exodus Wallet is older than most other crypto wallets such as Jaxx Liberty Wallet or Atomic Wallet.
Exodus only supports two-Factor authentication through Trezor One and Trezor Model T hardware wallets.
Yes! Exodus supports Dash Coin along with over 100 other cryptocurrencies and tokens. For a full list of Exodus Wallet supported coins please visit: https://www.exodus.io/status/
Yes! Exodus supports both the Trezor One and Trezor Model T. It does not support the Ledger Nano series.
Yes. Recently Exodus has started adding coins where you can earn yield including Cardano (ADA) and Tezos (XTZ) and Cosmos (ATOM). You can earn anywhere from 4% to 8% APY just for letting your coins sit in your wallet. In addition there are plans to offer more cryptos for staking in the future.
About the Author
EvanJones
Evan Jones was introduced to cryptocurrency by fellow CryptoVantage contributor Keegan Francis in 2017 and was immediately intrigued by the use cases of many Ethereum-based cryptos. He bought his first hardware wallet shortly thereafter. He has a keen and vested interest in cryptos involving decentralized backend exchanges, payment processing, and power-sharing.
Learn more aboutEvan Jones
