Content
- Exodus Team
- Wallet
- Installing
- Using the Exodus Wallet
- Exodus Security
- Exodus Exchange
- Using The Trezor Hardware Wallet With Exodus
- Exodus Apps
- Personalization
- Exodus Wallet on Mobile
- Conclusion
Exodus is one of those companies that has demonstrated the ability to build awesome long-term projects. The Exodus wallet is only partly open-source, keeping more sensitive parts of the software hidden from public view. This methodology goes a long way towards protecting users from malicious hackers and ensuring the Exodus Wallet’s long-term survival.
One thing is for certain, the Exodus development team is dedicated to creating the best possible product. Since its initial release on December 9th, 2015, Exodus has been releasing new product updates every two weeks. The first public version was 0.4.0, and the current version at the time of writing is 20.9.25. That’s approximately 96 regular updates, adding features, fixing bugs, and integrating new Exodus solutions.
Exodus supports many cryptocurrencies, tokens and contains a variety of apps for crypto investors. They have a built-in exchange, mobile apps, portfolio manager. Together, they create the Exodus Wallet, which looks more like a full-blown ecosystem with every update.
One of the significant risks of using Exodus is copycat software, designed to fool the user into thinking they are using the official Exodus wallet. Due to how Google ranks websites and advertisements, many users have fallen victim to these fake Exodus websites and wallets.
All in all, Exodus is a great entry-level wallet and can be used indefinitely as a hot wallet. Generally, users’ personal computers are often quite vulnerable, and as such, you may lose your private keys. Instead, use the Trezor Hardware Wallet integration available for Exodus. You will be able to leverage the ease and access of a hot wallet with a cold wallet’s security.
Team
JP Richardson
Daniel Castagnoli
The founders of Exodus JP Richardson and Daniel Castagnoli started the company in 2015. They leveraged each other’s unique skill set to develop Exodus. JP Richarson contributed with his technical ability and past experiences with Coinbolt. Daniel Castagnoli used his experience designing for Apple, BMW, Disney, Nike, and Louis Vuitton, to create one of the most beautiful cryptocurrency wallets on the market.
Together, they grew the team from just the two of them in 2015 up to 32 people in 2020. Exodus is always looking for new people in customer support, tech, and marketing. They are paying salaries in Bitcoin. If you are in the market for a new job and wonder where to start, Exodus seems like an excellent choice to break through in the crypto industry.
Wallet
The Exodus wallet is available on all major operating systems and mobile devices. The wallet is always locally downloaded, and all of the operations are completed on the client-side, meaning you never share your private keys with Exodus.Operating Systems
Exodus Wallet is available for Windows, macOS, and Linux operating systems and iOS and Android mobile devices.Downloading Exodus on Desktop
The first thing that you need to do to start using Exodus on any desktop OS (Windows, Linux, macOS) is to download the software. The only place you should download from is the official Exodus website. Many hackers mimic Exodus’ software to steal users’ funds, so make sure to triple-check the links and keep your assets safe from harm.Downloading Exodus from the website is easy and straightforward. Navigate using your favorite browser to exodus.io and click on “Get Exodus Now”.
On the next screen, press “Download Exodus XX.XX.X” and select your operating system.
Once the download is complete, the next step is installing the software on your computer. This step is also easy and straightforward, especially on Windows and macOS.
Installing Exodus
Windows
Once you download the installer, it’s a simple installation process. The Exodus wallet usually takes a few seconds to install, and it’s ready to go. Exodus requires .NET Framework 4.5.2 installed on your computer. However, if you do not have this framework, the installer will download and install it for you.macOS
After downloading the installer, activate it and drag the application to your Applications folder. No additional software is necessary to run Exodus on macOS. As simple as it gets.Linux
On the other hand, Linux users have a much more difficult time installing Exodus (or pretty much any other application) only due to how this OS is constructed. However, Linux users are generally already well acquainted with how their operating system works, so we will not explain the fundamental basics.Debian
Debian-based distributions can leverage the .deb package and install Exodus fast and easily. Open the .deb package and install the exodus application.After the installation process is complete, the Exodus icon will appear on your desktop environment, where it’s ready to be launched and used for your crypto adventures.
Non-Debian Linux
If you are using a non-debian Linux distribution, you may need to use the .zip file download to install the Exodus wallet. Once you’ve completed the download, you will need to extract the archive.You can place the “exodus-Linux x64” folder where you think it’s most appropriate on your computer. To launch Exodus, simply double-click the “exodus.desktop” file.
This is the file that Exodus has set up to launch the software from the unzipped archive. However, you may receive an “Untrusted application launcher” warning.
You can verify the file by opening it with a text editor. It only launches the Exodus software from the current folder. If you decide not to trust the file, or if your Linux distribution cannot use .desktop files, you can run the wallet from the terminal.
Choosing to use the file will result in two “Exodus” files being added to your GUI. The one to use is the smaller one of the two. However, keep in mind that this file won’t work if moved outside of its original folder.
Linux Troubleshooting
Linux can fail to run Exodus on the first try. To fix this, open up your terminal and adjust the permissions for the “chrome-sandbox” file, as follows:chown root chrome-sandbox
sudo chmod 4755 chrome-sandbox
The second command requires full administrative access, so you may be prompted to provide your password. Note of warning, you will probably never have to use sudo to launch Exodus itself, except in rare cases, together with the Exodus Support team. They are adamant on customer support, so you can find them at support@exodus.io if you have any difficulties.
Using the Exodus wallet
Our experience with the Exodus wallet while writing this review has been generally positive. The software is intuitively designed, and it’s relatively simple to get acquainted with all of the possibilities offered by the wallet.Portfolio Tracker
Exodus comes with an efficient portfolio tracking tool that provides users with a high-level overview of their assets. Using the portfolio tool, you can see the day-to-day changes in value, the best and worst-performing investments, and your highest balance ever. You can look at your entire portfolio or dive-deep into any particular cryptocurrency. It makes for an efficient price discovery system that provides you with all of the information you need to keep yourself informed.Using the portfolio tracking tool is simple and easy. You can select it at the top of your wallet on the desktop version.
Once inside, you can see a breakdown of your portfolio and assets, the 24-hour price change, the highest balance amount, the portfolio age, and the best and worst-performing holdings in the past 24 hours. You can switch between fiat and BTC values by clicking on the value in the circle.
Under the portfolio chart, you can see your total balances of every cryptocurrency you own, as well as the percentage representation of your holdings in any particular crypto. You can also see the market prices, 24-hour volume and change, 30-day price trends, and the total value of all cryptos in your portfolio.
Backing up your first Exodus wallet
Exodus does not require an account to use. Because it works locally on your computer, there are no logins or registrations to use it. It’s a pure plug and play experience. However, it is wise to ensure that your new wallet is backed up. Exodus will ask you to go through this process when you make your first transaction. However, it’s wise to do it beforehand.Having a backup for your wallet is critical. It will ensure that you always have a way to access your funds, regardless of what happens to your computer. Imagine for a second that you have the unfortunate accident of experiencing a hardware failure. Your data is lost, but if you have a backup, your crypto is safe.
The same goes in case you lose your device or somebody steals it. This backup will protect you from these events and more, so please do not skip this one-time process.
Note: The Exodus backup phrase does not protect your hardware wallet. Trezor has its backup phrase.
To get started with the backup process, access the “Settings” cog, then select backup and enter a strong password.
After you input your password, you will receive a randomly generated 12-word “recovery phrase.” Keep this a secret by performing the backup offline and exporting the file containing your recovery phrase on an offline medium (USB drive) or writing it down on a piece of paper (or two). The 12-word phrase acts as a master key for all of your assets. With it, you (or anybody else) can access your funds from anywhere.
Making your first deposit on Exodus
If this is your first foray into cryptocurrencies, you may feel overwhelmed about making a mistake when sending and receiving assets. It’s only natural to want to test the waters and make sure these systems work. Feel free to complete a small test transaction to ensure that you can receive assets on your newly backed-up Exodus wallet.Unfortunately, you cannot use Exodus to buy cryptocurrency as they do not connect to the traditional financial system. The only exception is the iOS mobile app, which can be used to buy crypto directly.
Instead, they will need to get crypto from a third-party, an exchange, a P2P marketplace, or an individual.
Once you acquire your cryptocurrency, you can send it to your Exodus address. Let’s assume that you’ve just purchased some Bitcoin on an exchange. To send it to yourself, you will need to withdraw it from the exchange and deposit it to your new wallet. To get your address, navigate to “Wallet” on your Exodus application.
Bitcoin will be selected by default, and from here, just click on “Receive”.
This will lead you to your recipient address, which you can copy and use to withdraw from the exchange. After you initiate the transaction, you can track its progress on the blockchain. It will take some time to land on your Exodus wallet, specifically about 10-20 minutes for Bitcoin.
Exodus Security
The Exodus wallet is self-custodial, which means that users are in charge of managing their funds and protecting them. With Exodus, you are responsible for your assets, and there is little that they can do to help in the event of loss by theft or damaged electronics.You must take full responsibility for your security and learn simple and useful techniques to protect your assets. If your portfolio is substantial, make a $60-130 investment in a hardware wallet. This purchase alone will increase your security by a hundred-fold.
Since Exodus gives you full power and control over your digital assets, security education is the key to ensure that your journey in crypto will not be filled with regrets. There are many things that you can do to improve your security. Your behavior online, the websites you visit, how you store your 12-word backup phrase, and your security education add up to create your security profile.
It is in your best interest to learn about and eliminate vulnerabilities in yourself and your system.
Protect your 12-word backup phrase
Your 12-word (or 18-word for the Trezor) backup phrase represents full access to your account. They are difficult to brute force. However, once a hacker obtains them, it will be easy for them to steal your portfolio. Do not keep digital copies of your 12-word backup phrases, and if you can help yourself, do not hold any assets in a hot wallet.Use the Trezor to create your account directly on the device, and write down everything, preferably in two copies kept at separate locations. If physical security is a concern, consider your options. Purchase a safe box or keep your 12-word backup in a bank lockbox. Physical security comes naturally to people, so most likely, you already know how to protect your objects.
Do not create digital copies of your private keys
On top of the 12-word backup phrase, you also need to ensure your private keys do not leak to the internet. These are crypto-specific keys that can be used to siphon funds from your wallets.Avoid suspicious websites and learn to spot scams and phishing websites
It’s difficult to verify what is and what is not a suspicious website, but if the domain doesn’t look correct, it’s most likely not the place you want to visit. There is a small difference between Revain.org and Revajn.org, but it can cost you a fortune if you fail to notice it.This is phishing by definition, an attempt to fool people into thinking they are using the legitimate software, when, in fact, they are interacting with a lookalike interface that only wants to rob them blind. Exodus will never ask for your passwords or backup phrases, so that’s also a clue.
Scams come in many shapes and forms. In crypto, the best thing you can do to avoid getting scammed is easy and challenging at the same time. Trust no one. Relying on any given person is a vulnerability, especially if they are looking to extract assets from you. You will most likely not hear back from them, and you will be left in the dust, feeling angry with yourself.
This is not to say that you cannot generate genuine friendships with people online, but a healthy skepticism dose is exceptionally beneficial for your financial security.
Do not pirate content
Pirated content is an incredibly dangerous proposition, not only due to legal concerns but also because of the security risks you undertake to avoid paying for your content. Websites that share torrents are often used to infect users looking for newly-released content, such as films, video games, and music.Downloading from pirate sources exposes you to significant risks of losing your crypto assets due to ransomware or viruses that steal your data.
Invest in a hardware wallet
Hardware wallets are excellent at protecting your assets (as long as you follow other security guidelines) because they operate as a 2FA and offline wallet at the same time. In general, they are machines that sign transactions for you and do not keep much of your data. They have their backup phrases, which you should treat exactly like you treat your home keys.Use strong passwords everywhere
If cyber criminals target you, you will be attacked on all fronts. Getting into one of your accounts will open up a whole world of opportunity for your attacker. Instead of ensuring protection only on one front, ensure that you are taking care of all of your accounts. Strong passwords contain capital letters, numbers, and symbols. They are often at least 12 characters or more.
Use antivirus software
Antivirus software can be extremely annoying, especially if it’s free. Regardless, it’s better to have an annoying true friend instead of being alone and vulnerable. If you can afford to pay for premium security, all the better. Antimalware software also falls in this category (no, they are not the same thing.) There is not best software, but a free option for antivirus is Avast and Malwarebytes for antimalware.Update your apps
Update, update, update. Your apps and your operating system, everything that you can. New updates most often protect users from newly discovered vulnerabilities, and if you are update avoidant, you are risking getting hacked. It’s worth the 5-60 minutes to perform any update on your system.Don’t flaunt your crypto wealth
It’s tempting to go out in the world and tell everybody how crypto rich you are. It’s appealing to buy that Lambo and roam around in brand new clothes all the time, post on Twitter about your wealth, or boast in other ways. However, recognize that this invites trouble in your life. Especially if you are flaunting online, you are painting a target on your back.Use 2FA for everything that supports 2FA
I cannot stress this enough. Use 2FA with Keepkey or Google Authenticator. Any way you do it is better than not doing it, and it will increase the difficulty of hacking you by 100 times.Use VPN software for public networks
Are you using your devices in public? Use a VPN, do not get exposed to a man in the middle attack, and get your data stolen. Your crypto lives on the keys that you use to gain access to your funds, so if you are ever in a situation where you need to transact over a public network, make sure that you are prepared with free VPN software.Exodus Exchange
The Exodus exchange is an instant, decentralized exchange that enables quick and secure crypto-to-crypto transfers. About 80 of 116 cryptocurrency assets are exchangeable at the time of writing. You do not need to sign up or create an account to use the exchange, ensuring privacy and full control over your funds.Using the Exodus Exchange on Desktop
Exodus’s built-in exchange has no daily or monthly limits, but it does have minimum and maximum amounts. In general, you should be able to execute multiple maximum amount swaps if you need it.However, we don’t recommend using the Exodus exchange, simply because it’s too expensive. We analyzed over 20 trading pairs, and each of them offered sub-par exchange terms. In general, the average trading fee that you would pay to use this exchange is equal to about 5% of the trade value.
In 2016, Shapeshift and Exodus announced their partnership to create this exchange feature. However, it’s unclear whether they are still working together on this feature. There is no indication either side that this is the case. Shapeshift requires full KYC/AML before enabling the service for users. Besides, Exodus doesn’t even need you to have an account.
Either way, it’s expensive, but if you want to use it regardless, here’s how you can do it.
To begin the process, launch Exodus and select the Exchange app.
Select the assets that you want to exchange. You are trading the asset on the left for the asset on the right.
Once you have your assets selected, you need to input the amounts you want to exchange. You can either input crypto or fiat values in the appropriate section, and the exchange will take care of the rest.
When you are happy with the settings, click exchange, and that’s it. Exodus will automatically execute the swap for you, and your assets will be available as soon as they are authenticated on the blockchains.
Using The Trezor Hardware Wallet With Exodus
Exodus and Trezor have what seems to be an exclusive partnership. There’s no other reason why Exodus would not support different types of hardware wallets. However, considering this is the only hardware wallet integration possible with Exodus, we will cover it for our Trezor-wielding readers.Hardware wallets are more secure than typical software-based wallets because most operations happen on the device itself, with minimal data transfer capabilities. Hardware wallets increase your security by 100 times. Risks of losses due to cyber theft are reduced when using hardware wallets, and they are recommended for anyone with a sizable portfolio.
Exodus supports the Trezor Model T and Trezor Model One.
Using a brand new Trezor wallet with Exodus
Using Trezor with Exodus out of the box relies on Trezor Bridge, the hardware wallet’s official browser connection application. Make sure your Trezor is connected to your computer.You can get the official link via Settings > Devices > Trezor Bridge > Install Now. This will take you to the official download page, where you can acquire the software. You will need to use a Chromium-based browser for this software to work.
After you download and run Trezor Bridge, the hardware wallet will begin its firmware update. Do not close Trezor Bridge, Exodus Wallet, or unplug the device during this period. After the update is complete, the device needs to be initialized. Exodus offers you two options:
- Restore the wallet from the backup phrase
- Create a new wallet
Once this is all complete, go back to Exodus and confirm the connection.
Your Trezor and Exodus wallets are now paired, and you can move funds between them effortlessly, as well as use the exchange directly with the Trezor device.
Using an initialized Trezor wallet with Exodus
If your Trezor device is already initialized, it will be straightforward to pair it with your Exodus wallet. Open Exodus and connect your Trezor from Settings > Devices. Unlock your hardware wallet and enter the PIN code and passphrase if you have one. You will be asked to approve the connection, and with your confirmation, the process is complete.Transferring funds between Exodus and Trezor wallets
The Trezor/Exodus partnership has enabled these two companies to create a smooth and reliable asset transfer methodology. To transfer funds, open up your wallet app on Exodus and click on the “Transfer Funds” button. It’s right next to the “Send” button.Select the from/to wallet arrangements, the amount, and hit “Transfer”. The confirmation screen will display the transaction details, and if everything looks okay, hit “Send”. There is a blockchain transfer fee that you need to pay for the transfer, which is expected. It’s on a blockchain, after all. If you are making the transfer from your Trezor to Exodus, you will have to approve the transaction on the device as well!
Switching between Trezor and Exodus Portfolios
To switch between your Exodus and Trezor portfolio, navigate to the portfolio tracker tool, and simply select the wallet you would like to see from the list on the top. The buttons are located in the same location in both the old and new designs.Using the Exchange with a Trezor
You can directly use the Exodus exchange with your Trezor device. Make sure that it’s plugged in and unlocked. Open up the exchange app, and you should be able to notice a drop-down menu, letting you select the wallet you want to use.You can do this on both the receiving and sending addresses, so you could effectively use this feature to exchange and transfer assets from Exodus to Trezor accounts, or vice versa.
Exodus-supported Assets
There are a total of 116 supported cryptocurrencies on the Exodus wallet at the time of writing. However, not all of them are available for trading on the exchange. Additionally, there are also limitations to holding some of these on the Trezor as well.Exodus Apps
Exodus has developed a variety of partnerships and created apps in the wallet based on them. There are only three apps available at the time of writing, which enable you to loan your crypto to others, stake it to secure networks, and bet on sports.Compound Finance
Compound finance is considered to be the protocol that launched the DeFi hype in 2020. The application is built on the Ethereum blockchain, and it enables users to lend and borrow ETH and ERC20 tokens.
The basic idea is that you lend ERC20 tokens (or ETH) in exchange for an interest-earning version of the same token. CETH assets reflect ETH deposits. This enables you to earn on the difference in value between the tokens, which is always programmed to increase the interest-bearing asset’s value.
With the Exodus Wallet, you can only provide DAI supply to Compound, and if you wish to take advantage of other features, you will have to visit their website. Every time you stake DAI, you will get cDAI in return as the interest-bearing asset.
Compound Finance runs on a smart contract, and you will need Ethereum to pay for transaction fees. These fees are variable and depend on the current usage of the Ethereum network. Even though Compound Finance is audited, there is a risk of system failure that may lead to loss of assets.
Using Compound Finance on Exodus
To get started with Compound on Exodus, you will need ETH and DAI coins in your wallet. Ensure that you have a sufficient amount of ETH to enter and exit your position. You may have to go to settings and install the Compound App on your local Exodus Wallet.Once you have it installed/activated, you can find it on the top bar.
You will see the APY (Annual Percentage Yield) for your DAI supply on the next screen. This APY value will fluctuate over time.
Press Start Earning to continue.
Choose the amount of DAI you want to deposit in Compound’s smart contracts and click on Deposit.
The Exodus wallet will process your request and lend your DAI to Compound’s users, and you receive cDAI, the interest-bearing token.
When you want to withdraw your funds from Compound, simply open up the app, hit withdraw, and enter the amount you want to pull from the platform. You will have to pay for activating the smart contract with ETH, and your assets will be turned back into DAI.
Earning Comp with Exodus
Compound Finance enables users to earn governance tokens. Still, Exodus’ integration of Compound makes it challenging to access your COMP distribution data, which is why we recommend only using the Compound.Finance website with MetaMask instead.Exodus should improve this app to include governance or an exact representation of COMP yield rewards before recommending it over the original.
Exodus Earn Rewards App
Beyond the Compound Finance integration, Exodus enables users to stake their assets to help support POS blockchain networks in their transaction processing and earn passive rewards along the way.
Installing the rewards app
Like with Compound and most other things on Exodus Wallet, installing the app is easy and straightforward. Go to Settings, click on Apps, and select “Install”. That’s it.How do I use the Rewards App?
Your newly installed Rewards App will now be easily accessible via the top bar. Simply click on its icon to get started with the app.You will be able to see all of the stakeable assets and their current APYs.
Some of the assets enable you to earn rewards by holding them, while others have to be actively staked on the network. Therefore, this is a useful app to have active on your wallet, as it will ensure that you are taking advantage of these assets if you already have them.
Compared to traditional banking returns, which are often sub 1%, crypto returns are vastly superior. These values, however, are denominated in the crypto asset. This process has a hidden risk of losses due to asset depreciation.
Betting With Exodus – SportX
Note: This app is unavailable at the time of writing due to scalability upgrades.
SportX is a betting company that has entered into a partnership with Exodus to make their betting smart contracts available from inside the wallet. Exodus guarantees for the funds and timely payouts as they have done their internal audit of the SportX smart contracts.
Users can bet on a variety of physical sports such as:
- Football (Rugby)
- Basketball
- Tennis
- Football (Soccer)
- Baseball
- eSports
Personalization
It may not seem like a vital topic to talk about a cryptocurrency wallet, but Exodus is well beyond what other products can offer on the market. The design work invested in the Exodus Wallet is pristine, polished, and practical.
There are even ways to modify your experience with Exodus through the use of themes.
You can modify your experience using themes, main currency types, colors, sounds, and textures. It’s a nice touch, even if it’s not functionally significant.
Exodus Wallet on Mobile
We touched on the fact that Exodus is available for Android and iOS devices but purposefully avoided talking about it so that we can do it right here. We will go through all of the steps that you will need to undertake to get started with the Exodus Wallet on mobile.Both Android and iOS apps are similar in function.
Downloading Exodus on your device
You can find the Exodus Wallet app through the usual app marketplaces on your device. It requires iOS devices that run on iOS 10 or above, and for Android devices, running Android 8.0 Oreo or above. The best place to get the links is through the official website.The first time you run Exodus on your mobile device, a tutorial sequence will show you how to use the app.
Make a backup of your wallet
The same rules apply to Exodus on mobile. Backup your wallet and make sure nobody is looking at your screen. Don’t take a screenshot of your backup phrase. Instead, grab a pen and paper and write it down.Receive cryptocurrency
Receiving crypto is easy. Just navigate to your wallet and copy your “receive” address. Then send it to whomever you want to send you crypto. If you are using an iOS device, you can buy cryptocurrency directly in the wallet using Apple Pay.Portfolio Tracker on Mobile
On the mobile version of Exodus, the portfolio tracked is integrated with the wallet. To access it, tap the wallet icon on the bottom of the screen.Similar to the desktop version of Exodus, you can see your portfolio breakdown here. To toggle between fiat and BTC value representation, simply press and hold the portfolio value number. Below the chart, you can see all of your holdings and related data.
To access the portfolio summary, tap instead of holding on the portfolio value. This will show you how your portfolio value moves across various intervals, the, and your portfolio’s age.
Tapping on Summary will take you to a percentual representation of your portfolio’s contents.
Exchange
One of the most popular features on Exodus mobile is the instant non-KYC exchange. It supports more than 70 trading pairs and enables you to securely exchange assets using your phone.Using the Exodus Exchange on Mobile
The mobile exchange feature is simple and easy to use, generally following the same process as the desktop version. To use it, open up your Exodus wallet app and tap the exchange button on the screen’s bottom.On the next screen, select your assets that you want to exchange. The top option is the asset you own, while the bottom is the asset you wish to receive.
Next up, input the amount that you want to exchange. Tap the number or use one of the buttons to set your amount.
Exodus will give you a breakdown of the price and what you will get for your offer. If you input an amount less than the minimum, or over the maximum, you will see an error statement. Ideally, you should reference a price discovery mechanism, such as Coinmarketcap or Coingecko, to evaluate the deal that you are getting.
In general, Exodus charges a premium of about 5-6% on each exchange, which is exorbitantly expensive.
Once you press “Exchange Now”, Exodus will execute your transaction, and your portfolio will be updated once the assets land on your wallet.
Conclusion
Exodus is an exciting cryptocurrency wallet. It provides users with a lot of exposure to cryptocurrency assets and makes exchanging cryptos easy and fast. It’s a beautifully designed application that is intuitive to use and easy to learn. It seems great for beginners, although there are concerns that Exodus users should consider.At the top of the list is the full control approach of Exodus devs.
They expect you to take care of your security. Even though they provide valuable information about how to remain secure, it’s not easily accessible through the wallet. Ideally, they would ensure that users understand the security basics or prompt them to learn about security practices.
Secondly, the prices for most services provided by the platform are high. The exchange fees are between 4-6% compared to actual market prices. While beginners are likely to use these features, intermediate crypto investors will make sure to take their assets to a more prominent exchange. The industry’s standard is sub 1% on any given trade, depending on whether you are a maker or a taker. With Exodus, you are always a taker, however considering their exchange is most likely third-party, we can expect that a fair amount of the fee goes to their partners.
Regardless, you should not use the Exodus exchange, unless you hate owning cryptocurrency.
All in all, playing around with Exodus was a fun experience, and I can see myself using this wallet regularly if they make some changes. The limited hardware wallet support is a drawback for users, but at the same time, Exodus is a company, and they need to earn their keep.