How To Guides

Advantages: Uses desktop, mobile, and browser apps. Simple interface for trading, tracking, and taking stakes.

Con: Does not offer security options. Some other wallets can support more cryptocurrencies.

Accessibility: Your crypto can be accessed via browser extension, desktop, or mobile without the need to keep assets in custody.

Accessibility Exodus’s simple interface makes it easy to move money into a cryptocurrency wallet.

Security upgrades: Exodus doesn’t have open-source software to allow third parties access it in the event of any problems. It does not support multisignature transaction approvals and doesn’t offer 2-factor authentication.

Choice: Although Exodus supports a fair number of cryptocurrencies it is not possible to store them all.

* Crypto owners looking for easy access to a wide range of platforms.

Exodus, a self-custody cryptocurrency wallet, has some advantages over storing your cryptocurrency on a centralized exchange. The technology works in a way that only the developers of the wallet software have access to your cryptocurrency. This means they won’t be able to lose your money if they fail to make their business profitable or suffer from a data breach.

You should also consider the possible downsides to self-custody wallets. If your password or recovery information is lost, it may be very difficult or impossible for you to retrieve your crypto. Exodus, a hot wallet that can be used on any internet-connected device, could make you vulnerable to an individual hack that could impact your assets.

Exodus is not among the most secure wallets.

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  This software is not open-source.
  

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  Multisignature approvals are not supported by . This means that more than one wallet must sign off on transactions.
  

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  Exodus does not have two-factor authentication. However, it isn’t the only wallet maker that doesn’t offer this feature.
  

Exodus supports more 260 cryptocurrencies.

Exodus can be used to perform most types of cryptocurrency transactions including swaps and purchases. Exodus offers staking for a few cryptocurrencies, and it has Web3 connectivity to decentralized apps through its browser extension. Exodus can be used to store NFTs.

Exodus is an online hot wallet that allows you to access your keys to your cryptocurrency on any internet-connected device. A cold wallet is a device that stores your crypto offline, and offers additional protection against data breaches.

Exodus can be used in conjunction with a cold wallet. Exodus is compatible with Trezor devices.

Exodus users can access their wallets via desktop, mobile, and browser-based apps. You will need to enter your recovery/security phrase every time you create a new wallet.

Exodus offers a wealth of educational content on crypto security and digital assets for those who are new to crypto storage. Exodus’ mobile and desktop apps offer tools to help you track your investments.

Pricing: Exodus can be used for free, but you will need to pay to make certain transactions. Transaction fees are a common practice in cryptocurrency networks, regardless of the wallet you use.

Exodus is a service that allows you to exchange crypto. There are additional fees. These types of transactions are subject to a spread by the wallet’s partners, while the wallet maker takes a portion of the profits. These spreads and fees are also common on centralized cryptocurrency exchanges. However, Exodus’ rates can vary according to market conditions so make sure to verify the cost at the time.

Exodus might be a good choice for users who want to migrate their crypto portfolios from major exchanges, but still have easy access to their assets.

NerdWallet’s thorough review ranks and evaluates products that enable U.S. customers store, send, and receive cryptocurrency. Our objective is to give you information that will enable you to make informed decisions about which provider best suits your needs. We follow strict guidelines regarding editorial integrity.