Exodus Crypto Wallet Review

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Contributor, Benzinga
Updated: June 28, 2022
Exodus Wallet
Best For
  • Staking Crypto + Earning Rewards
securely through Exodus Wallet's website
1 Minute Review

Founded in 2015, Exodus is a multiasset software wallet that removes the geek requirement and keeps design a priority to make cryptocurrency and digital assets easy for everyone. Available for desktop and mobile, Exodus allows users to secure, manage and exchange cryptocurrencies like Bitcoin (BTC), Ethereum (ETH) and more across an industry-leading 10,000-plus asset pairs from a beautiful, easy-to-use wallet. The noncustodial functionality is encrypted locally on users’ own devices, ensuring privacy, security and complete control over their wealth. Exodus is on a mission to empower half the world to exit the traditional finance system by 2030.

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Best For
  • Newcomers to the cryptocurrency world
  • Ease of use
  • Trezor integration
Pros
  • Free
  • Huge selection of cryptocurrencies
  • Excellent 24/7 customer support
  • No personal info needed
Cons
  • FTX app not available on the mobile app

Exodus Wallet Ratings at a Glance

Exodus Customer Service
Exodus User Pricing
Exodus Mobile App
Exodus User Benefits
Exodus User Experience
Exodus Overall

For several reasons, the Exodus wallet receives an excellent rating. First, the wallet's clever design makes it very user-friendly. The wallet's design is also very appealing to the eye.

Then there's the huge selection of cryptocurrencies (+), making it possible for the Exodus wallet to be the only wallet you will need. The ability to stake from the wallet and the FTX exchange app is even more reason for the excellent rating. With the recent launch of the FTX app, Exodus users can now link their FTX account to their wallets. This addition makes it very easy for you to make transactions from your FTX account inside the Exodus wallet. For anyone with a large amount of cryptocurrency or security-conscious investors, the ability to link your Trezor hardware wallet to Exodus is the icing on the cake.

You can stake 7 different cryptocurrencies in the rewards app, with yield rates ranging from 0.97% annual percentage yield (APY) for VeChain and 10.02% APY on Algorand to 21.13% for Ontology. Staking is similar to depositing fiat into a savings account. It works by staking your coins for a set time and then receiving a fixed yield rate as a reward. The reason your crypto earns rewards while staked is because the blockchain puts it work.

A word of caution: Be careful when locking up your coins. If market conditions change and you need to sell your coins, locking them up may cost you. As a result, it is important to assess your own risk tolerance, and research the specific staking rules for each crypto project before staking. The Exodus wallet is available in both desktop and mobile versions. 

Exodus Customer Service

Exodus gets a 5 out of 5 rating for customer service. Customer service responded to an early Saturday morning email within 6 minutes. The email was very detailed and went above and beyond answering the question; it wasn't just a boilerplate response. Exodus responded to a Sunday morning email within 10 minutes!

Customer support engineers are also available 24 hours a day, 7 days a week, to answer any questions you may have.

Frequently asked questions and a plethora of educational articles are available in the support section. It is critical to have educational content available, especially for new investors. A video section with product videos, tutorials and Interviews is also valuable content. A blog section with many blogs covering virtually every aspect of the crypto space also is available. Moreover, the status section provides real-time status updates for all supported cryptocurrencies. Exodus also has a newsletter if you want to stay up to date on the latest news.

Exodus User Pricing

Customer pricing for the Exodus wallet is rated 4 out of 5. You only have to pay network (miner) fees, as Exodus does not charge a fee for transfers. On some coins, Exodus now allows you to adjust the network fee manually. This option will enable you to pay less for transfers you are willing to wait a little longer to complete.

Exodus charges a fee for the convenience of exchanging coins within the wallet via the crypto exchange feature. Depending on the price spread, the amount you pay will differ from one cryptocurrency to the next. Wider spreads are associated with coins with lower liquidity, implying a higher cost for the exchange. The entire process is transparent, and you will be able to see the price of each transaction ahead of time.

The recent addition of the FTX app gives users another lower-cost option to make exchanges between the coins and tokens that FTX supports. 

Exodus Mobile App

The Exodus mobile app is rated 3 out of 5. The mobile app is simple to install and use. Users can track their live portfolio, buy and sell cryptocurrencies, send and receive cryptocurrencies and take advantage of 24/7 support. When you set it up, you can create a new wallet or sync it with your desktop wallet, which is very convenient. It is very sleek and straightforward to use, but the mobile app does not allow you to link your FTX account.

Exodus encrypts your private keys on your device so that no one can access your cryptocurrency but you. Moreover, you can enable Face ID or Touch ID to conveniently secure your wallet without having to type your password.

Exodus User Benefits

The Exodus wallet receives a 4 out of 5 rating for user benefits. The main portfolio page, which visually shows your entire portfolio, is a vital feature of the Exodus wallet. Multiple apps on the portfolio page allow you to exchange and stake cryptocurrencies; staking is the way many cryptocurrencies verify their transactions, allowing participants to earn rewards on their holdings.

You can even connect your FTX account so that you can conduct transactions from within your wallet. Pairing Exodus and FTX gives Exodus customers access to a custodial exchange, thus expanding their options when—or if—they wish to exchange their coins. Remember, however, to use FTX, you must complete the KYC process.

Plus, you can use cold storage when you pair it with your Trezor hardware wallet for extra security.

Exodus User Experience

The Exodus wallet receives a user experience rating of 5 out of 5. The many valuable features of this wallet make it the only wallet you need. The simplistic design makes it easy for anyone to navigate. Even the newest users will learn how to use and navigate the wallet in minutes. 

I've had this wallet for more than four years, and it keeps getting better. Almost immediately after I started using it, this wallet became my favorite. It didn't have nearly as many features or supported cryptocurrencies back then as it does now. It didn't take long for me to transfer all of my other cryptocurrencies into it, and I went from having multiple crypto wallets to only having one.

This wallet is good enough to use daily, I don't use it every day, but I use it multiple times per week.

I've recommended this wallet to more people than I can remember over the years. I also recommend it without reservation; I've probably used this wallet thousands of times and have never had an issue with it.

Real User Review

Exodus vs Competitors

The ability to link your FTX account and the ability to pair a Trezor hardware wallet are 2 game-changing features for the Exodus wallet. The ability to make purchases with fiat or crypto within the wallet with a few clicks will make this wallet even more appealing.

When you combine that with the Trezor hardware wallet's unrivaled security, you have a wallet that is difficult to beat.

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Exodus Overall

The overall rating for the Exodus wallet is 4.5 out of 5. 

When you combine the ease of use with the many other valuable features, you get a crypto wallet that will appeal to a wide range of people. This wallet is ideal not only for new users but also for seasoned cryptocurrency investors. As previously stated, the ability to trade your FTX account from within the wallet, as well as the ability to pair with the Trezor hardware wallet, is a huge plus.

Exodus Bitcoin & Crypto Wallet Tutorial

Frequently Asked Questions

Q
Is Exodus a good crypto wallet?
A

The Exodus wallet is an excellent wallet for just about everyone. It has valuable features that make it a wallet you can use every day, from making FTX account transactions from inside the wallet to in-wallet staking and even super secure cold storage courtesy of Trezor. 

Q
Can I use Exodus to buy Bitcoin?
A

Yes, you can, thanks to the recent ability to link your FTX account. It’s now possible to buy Bitcoin or any other FTX-supported cryptocurrency using your fiat balance from your FTX account. You can even make crypto-to-crypto exchanges on FTX from inside your wallet. It is always a good idea to shop around to see which wallet is the best fit for you. With all that the Exodus wallet has to offer, you will be hard-pressed to find a better crypto wallet.

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