Exodus Wallet
Exodus is a non-custodial wallet that supports multiple cryptocurrencies, including Bitcoin, and it has generated a great deal of buzz since its launch in 2016.
It is a well-designed wallet that is aesthetically pleasing and packed with numerous features such as an option that allows users to stake assets directly within the wallet to earn passive income, and users can even exchange cryptocurrencies within the wallet. Exodus wallet supports thousands of assets, and their instant exchange integration feature allows users to swap over 100 supported digital currencies, meaning the coins never have to leave the safety and security of the user’s own wallet.
However, is the wallet still safe and reliable?
In this review, I will give you everything that you need to know about the wallet by digging into its security, reputation, and some of the features available in the wallet. I will also give you some top tips when using Exodus and storing your crypto.
Before we begin, here’s a quick table summarizing Exodus Wallet’s top features:
| Feature | Description |
|---|---|
| Type | Non-custodial, software-based crypto wallet |
| Platforms Supported | Windows, Mac, Linux, iOS, Android, Chrome/Brave (Web3 Extension) |
| Number of Supported Assets | 260+ cryptocurrencies and all ERC-20 tokens |
| Security | Password-protected, private keys stored locally, Trezor hardware wallet support |
| Backup & Recovery | 12-word recovery phrase |
| Privacy | No personal info or KYC required; public blockchain activity visible |
| Staking | Supports staking for Cardano, Solana, Algorand, Cosmos, and more |
| Built-in Exchange | Instant swaps via third-party APIs, no KYC |
| NFT Support | NFT gallery and marketplace for Solana NFTs |
| Hardware Wallet Integration | Compatible with Trezor Model One and Model T |
| Open Source | Partially open-source; some code kept private for security |
| Wallet Fees | No wallet fees; small spread on exchanges; network fees apply |
| Customer Support | 24/7 email & social media support; no phone support |
| Web3 & DeFi Access | Web3 browser extension for Ethereum, Solana, BSC, and others |
| Stock Integration | Buy/sell Exodus shares (EXIT) via tZERO within the wallet |
Ideal Exodus Crypto Wallet User
The Exodus crypto wallet was built with an easy-to-use interface, perfect for new users, but robust and secure enough for crypto veterans, making it ideal for most mainstream crypto enthusiasts who are looking for a secure, easy-to-use, beautiful wallet that offers a whole host of functions and features. It’s also a great choice for those who hold a variety of popular coins since it supports over 250 different cryptocurrencies, with more being added all the time.
The Exodus desktop wallet is currently available for Windows, Linux and Mac OSX operating systems for desktops, and a mobile version is available for both iOS and Android. All the available versions can be downloaded from the Exodus website directly, or found in the Apple App Store and Google Play Store.
Exodus Wallet Security and Trezor Integration
Exodus wallet is as safe and secure as a software wallet can be, keeping in mind, as with any desktop or mobile cryptocurrency wallet, Exodus wallet is only as secure as the device it is installed on. If the device that holds a cryptocurrency wallet has a virus, malware, or is compromised, the security of the wallet is at risk. Exodus has written an extensive in-depth article on all the best practices to follow to keep your crypto safe which is worth reading for any crypto user.
One of the largest criticisms when reading Exodus crypto wallet reviews from users is the lack of integration with traditional two-factor authentication methods such as Google Authenticator or Authy. There are two reasons that Exodus opts not to offer support for features such as email backups or 2-factor authentication. One of the reasons is due to potential security breaches and hacks of a user’s email, Exodus wanted to limit reliance on the security of third-party applications.
The other reason is that Exodus, above all else, believes in the privacy and non-custodial rights of their users, as they believe in their communities’ right to privacy and decentralization. Exodus does not collect any personal information on behalf of its users and, therefore, email backups are not supported, and in order for two-factor authentication to work, the company needs to store a database of user accounts on their servers.
Since the Exodus wallet creates, encrypts and stores all of the user’s information on their local device, adding the support of traditional two-factor authenticator methods was not a plausible addition to the wallet’s security. You can read more on Exodus’ official explanation of the support of 2-FA to learn more.
Pro tip: Ensure your device is free of any malware or viruses before using software wallets. Be sure to run top anti-virus programs on your devices, and remain safe when online, not clicking unknown or untrusted links or downloading untrusted files.
The Exodus wallet itself is accessed with a secure password, which should be sufficient for most users. For users who hold larger amounts of assets, or for the security-minded, Exodus has formed a partnership and integration with the Trezor hardware wallet for an additional layer of security. This was Exodus’ answer to user requests wanting two-factor authentication and increased security, and Exodus took that request to the next level. The integration of the Trezor hardware wallet with Exodus gives users the security and peace of mind of a hardware wallet while providing the convenient features, functionality, and user interface of the Exodus software wallet.
Device Support 💻: This will work with both the Trezor Model One ($69) and Trezor Model T ($219)
Of course, the main benefit of this is the fact that current Exodus users now have the option of keeping their private keys offline. With the Trezor device, all authentications and signing are done on the Trezor device and not on your computer or mobile.
Some users might be put off by the fact that the code for the Exodus wallet is not 100% open-source, but one of the founders (JP Richardson) is considered to be very trustworthy within the developer community, having contributed over 190 open-source libraries.
They have stated that keeping a few “trade secrets” has allowed them to ensure the long-term success of the company and improve the security of the wallet. Not open-sourcing these critical components makes it harder for hackers to bootleg the wallet and develop phishing versions. Moreover, many of the functional components in Exodus are open source and available on their Github. You can read Exodus’ official explanation about open source code for the Exodus wallet on their site.
Overall, the Exodus wallet meets the security requirements expected from one of the most widely used hot wallets, with the Trezor integration making it one of the most secure options out there for software wallets. It certainly beats online wallets, and many desktop wallets as well. Exodus users keep full control of their private keys, which are generated and stored locally on the user’s device.
Exodus Wallet Privacy
The Exodus wallet can be used completely anonymously as no personal information is required to download, install or use the wallet. Exodus doesn’t collect any personal information, and private keys also remain fully in the user’s control. That said, Exodus isn’t focused on anonymity.
Public keys and transactions made with the wallet are fully visible on the blockchain and there are no features for hiding your transactional trail. While they do support privacy coins such as Monero (XMR) and Zcash (ZEC), they are unable to perform fully shielded transactions for Zcash. If transaction privacy is a chief concern of yours then you may want to consider using the core wallets of ZCash, or transact in privacy coins such as Monero (XMR).
Exodus Supported Coins
When first released, Exodus supported just a handful of cryptocurrency assets, but as it grows, it adds new coin support all the time, currently supporting over 260 cryptocurrencies and more are being added all the time. Multi-currency support is one of the strong features of Exodus.
In fact, you can store any ERC-20 token in Exodus, even if they aren’t listed as supported. The downside to this is you can’t see the balance of these unsupported ERC-20 coins in the Exodus wallet. Instead, you will need to view the balances using an Ethereum blockchain explorer and may need to import your private keys into a wallet that does support the asset in order to transact with it.
You can see a full list of the coins that they support on their Status Page and it is a good idea to have a look here to ensure your asset is supported before sending funds to your Exodus wallet. The status page is also a great place to check before making crypto transactions to check for any updates regarding network or asset issues.
Creating a Wallet Backup
When the wallet is first installed users are given a unique 12-word recovery seed phrase that can be used to restore the wallet if the device that the wallet is installed on is ever stolen, destroyed or lost. This means it is crucial for users to write down this seed phrase and keep it safe. If you ever need to restore a previous Exodus wallet, users can simply download Exodus to a new device and when installing it click the “Restore Wallet” option, and restore the previous wallet using the 12-word recovery phrase associated with the previous wallet.
Exodus used to provide backup support via email and this is still an option if you created your wallet prior to Exodus version 19.2.1. However, given the risks that came with having these links in emails, they have stopped supporting this. If your wallet was created in an earlier version then you can follow these steps in order to restore it.
Exchanging Assets Within Exodus Wallet
While Exodus Wallet itself isn’t an exchange, the wallet does allow you to exchange supported cryptocurrencies with each other directly in the app through the use of non-custodial, third-party API Exchange providers which allow users to swap their favourite assets without the need for KYC identification verification.
If you have coins in your wallet and would like to exchange them, then all you need to do is click on the “exchange tab.” Here, you can select the coin that you would like to exchange as well as which one you would like to exchange it for.
Once you have done this you will need to select the amount that you are exchanging. You could select preset values such as ALL, HALF or MIN. You can also choose a given amount of the coin or even the value in your local currency.
When you are certain of your purchase conditions then you can hit “exchange” and the transaction should go through. Given that you will have to wait for the coins to be sent to your wallet, most of these exchanges will take under 30 minutes.
Once you have completed the exchange, you can close the wallet and the coins should be there when you open it up again. If you don’t see your coins appear after a successfully completed exchange you may need to refresh your wallet or contact Exodus Support.
Staking Assets
Exodus offers a way for users to stake multiple assets directly within the wallet as well. With the introduction of assets that use the Proof of Stake (PoS) consensus model, users are able to stake and earn passive income for many of their favourite assets such as Cardano, Algorand, Cosmos, Solana and more directly from within the Exodus wallet.
Feel free to have a look at the Exodus Staking Guide to learn how to get started staking in Exodus.
Staking works quite differently among the various assets that users choose to stake. Some assets require lockup periods, and the claiming rewards function works differently for some assets so be sure to check out the Exodus knowledge base to learn more about the asset you would like to stake before getting started so you know what to expect. The APY is variable and the current rewards can be seen in the rewards app.
NFT Marketplace and Gallery
NFTs may have lost their shine, but the popularity of the Exodus wallet skyrocketed as it became one of the first, and remains one of the very few non-custodial wallets with a built-in NFT marketplace and gallery.
Users can access the NFT gallery in Exodus mobile or Exodus desktop to receive, store, display, and share their NFTs. The NFT gallery supports receiving NFTs on the Solana network.
The NFT Marketplace is where users can buy and sell NFTs on the Solana network from inside the Exodus wallet. Exodus has partnered with NFT platform Magic Eden, the leading NFT marketplace of Solana. The NFT marketplace in Exodus offers an impressive number of verified collections.
Just as with the other apps, to access the NFT marketplace and NFT gallery, users will need to install the app from within the Exodus wallet.