Last updated on April 4, 2022.
In this Exodus wallet review, we take a look at the Exodus Mobile App and Computer wallet. You probably have heard of the Exodus wallet before. They have been one of the most used and popular crypto wallets since 2015. Exodus has gained a large user base because of its smooth design and interface. This has made them a reliable wallet and go-to point for starters in crypto. Not only that but also their reliable support and constant updates to the app keep users satisfied.
Besides their long stand as a successful wallet provider, they have also launched their tokenized stock this year. The tokenized Class A common stock in the company can be stored in the wallet itself.
In this review, we mainly focus on the Exodus mobile wallet but also point out some things about the Exodus desktop wallet. We will try to make it clear which one we are talking about at all times.
At the start when you open the Exodus wallet it will give you a nice small explanation about what the wallet can do. They have done this with a very smooth and guided interface. After that users will enter the home page of the mobile wallet. Here you can find your balance(s), plus a small menu at the bottom that guides you to the exchange and dashboard tap. On the desktop, the menu is located at the top of the screen. Here the menu consists of portfolio, wallet, exchange, exodus shares, and a plus tap where you can a variety of different Dapps.
The Exodus App as well as the Desktop version are very easy to understand and can also be synced to each other. Plus you can also connect it to the Trezor hardware wallet. This makes it perfect for the user that likes to use 1 wallet on multiple devices.
Trading in Exodus
After users have downloaded the Exodus wallet. They can also start using it for trading. This trading feature works very smoothly but does not come cheap. As the trading transactions have to interact with the blockchain they pay the blockchain’s gas fees. On some chains, this costs almost nothing. But trading from BTC to ETH will cost you quite the fee. The good thing however is that Exodus does not charge any additional fees on top of that. This way they keep trading as cheap as possible, from within the comfort of your own wallet.
This part focuses more on the Desktop wallet as the mobile wallet does not (yet) have any Dapps visibly integrated. On the Desktop version of the wallet. Users can manually add a Dapp to their menu. Currently, only Compound Finance can be added to the wallet. Giving users the option to earn interest on their DAI stable coin from within Exodus.
Not only can users use Dapps to earn interest. But they can also utilize the power of staking crypto. The Exodus staking feature lets users easily earn interest on their crypto by staking it. Each of the cryptocurrencies within the wallet that have the possibility to stake, has an earn rewards button. Here users can stake their Cardano, Vechain, Solana, Algorand, and many more cryptos.
When it comes to the Dapps however, Exodus only lists the (D)apps approved by them. So for now users only have excess to Compound Finance and some Apps like FTX exchange and Exodus shares. But this list will most likely grow in the future as more Exodus approves more (D)apps.
When It comes to extra features (besides sending and receiving crypto) Exodus wallet offers the following.
- Earning interest
- In wallet trading with integrated exchange
- Great customer support
- Perfect UX & UI
Pros and Cons
✓ The best UX & UI
✓ Lots of chains supported that can be added or removed from your main wallet page
✓ Lets you sync your Mobile, Desktop, and Hardware wallet
✗ Not possible to add a Dapp of choice like Uniswap or PancakeSwap
Like every other Wallet out there, the Exodus wallet has flaws and missing things. The flaws that we point out are of course based on our personal opinion and we would like to point out that they don’t always have to be a hindrance to anyone.
The Exodus wallet works flawlessly. Beginners to crypto should definitely consider using this wallet. However, for the more experienced crypto user, it lacks some features. This mostly comes down to the fact that Dapp users can not use any Dapp of choice. This keeps users of NFT’s and DEXes away. Which is becoming a large part of crypto these days. Exodus could attract a lot more users if they would offer this feature.
As a second, we always like to see the Lightning network integrated. Because of the cheap Bitcoin transactions, you can make with it. Although the wallet already uses some sidechains like Polygon, having more of them can’t hurt in our opinion. With options like LN, Arbitrum, and Optimism integrated the usability of the wallet will improve drastically.
The Exodus mobile and desktop wallets are fantastic wallets for beginning users. They require almost no technical knowledge, and when users can not figure out how something works, they have great customer support to assist. The wallet works as a portable wallet because you can use it on any device and even link the devices to each other. Downloading and installing the Exodus wallet on any device only takes a few seconds. However, the wallet could improve with some more advanced features and sidechains. Because of this, we would give the wallet 4 stars out of 5 when it comes to advanced users. But when it comes to beginners the wallet gets the perfect score with 5 out of 5 stars. And that’s the rating we go with as we think beginners are key to adopting crypto!
We hope you enjoyed our Exodus Wallet review. In case you do not agree with our Exodus wallet review? You can buy some Bitcoin, download the Exodus wallet, send it to your wallet, and write your own Exodus wallet review today! And also check out what other people think about the Exodus wallet.
Extra note: So as always check the date of this review to see if it is relevant. Wallets can add new functions and change designs to improve their product so a bad review now won’t mean they can’t be great in the future.