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Review on Exodus by Thomas Widmer
Sleek & Practical; Convenience Can Come at Considerable Cost
I've used Exodus as one of my main crypto wallets since 2018 and have overall been very happy with its utility and reliability. It is incredibly convenient and idiot-proof, but isn't without its annoyances and disappointments. The UI offers hardly any customization and it is overly bulky and has far too much wasted space. By far the worst part of my Exodus experience has been the exorbitant fees I've had to pay to exchange currencies within the wallet. I was in a rush to buy some Dogecoin and couldn't do so on coinbase so I had to buy $300 BTC on coinbase (instabuy fees = $14) and then sent that $286 BTC to Exodus. With the click of a button, I was able to exchange $286 into $260, but hey at least it was dogecoin now. Fortunately dogecoin went up like 300% that day, so all said and done it was worth it.
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I will continue to use this wallet and hopefully they will add to their already extensive crypto library, and reduce/improve their fees and APY rates.
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Pros
- Conveniently transfer/exchange cryptocurrencies with one simple action
- Sleek styling with a responsive and intuitive interface
- Minor APY's for a few tokens
- Well supported with regular updates
Cons
- Very high fees for the convenience of Exodus' one-click crypto exchanging
- Some major (high cap) alt-coins are completely unsupported/unusable
- The exchange feature randomly and inexplicably becomes unavailable for some coins which can essentially cause a freeze of your asset(s) if you don't have another service that supports that particular currency, or if transfers are momentarily unavailable.
- The exchange fees are ridiculously expensive. I sent my wallet $285 of BTC to exchange into DOGE and within 10 seconds or so I had traded $285 of BTC for $260 of XDG... fortunately the XDG went up 300% shortly after that, but "convenience" could never justify such high fees/rates. I only use the exchange out of necessity or urgency.
