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Exodus is an easy-to-use platform, ideal to learn cryptocurrency stocks for beginners. The user-friendly apps for desktop and mobile let you access over 155 crypto stocks. What’s best about the platform is that it doesn’t charge you transaction or service fees. With Exodus, you can build a diverse portfolio of altcoins and other digital currency stocks.
Pros
- More than 155 cryptocurrencies
- Easy-to-use apps
- Excellent customer service
- No need to register and create an account
Cons
- Fiat currency not supported to buy/sell
- Security depends on the user
Jump to: Full Review
Compare to Other Crypto Exchanges
BlockFi
Buy, sell, and trade a variety of cryptoassets at competitive prices
Up to 1.5% back in crypto on every purchase with Rewards Credit Card
Earn interest on Bitcoin or borrow money at rates as low as 4.5% APR
Coinbase
Store all of your crypto and NFTs in one place (100 cryptocurrencies)
Earn crypto rewards with Coinbase Visa debit card (up to 4% cashback)
$2 account minimum and 0.5% – 4.5% fees varies by type of transaction
What is Exodus?
Exodus is a crypto wallet platform where you can send, receive, and store bitcoin and other altcoins. This Nebraska-based company was founded in 2015 and since then acquired over 1.2 million users around the world.
As a crypto trading platform, Exodus aims to maintain a design that makes cryptocurrencies straightforward. They see this as a way to remove the geek requirement when one wants to learn about digital currency stocks.
How Does Exodus Work?
If you’re looking to invest in crypto stocks, Exodus is one of the platforms you can check out. There are plenty of cryptocurrency stocks for beginners these days but it’s crucial to select a wallet where you can store these.
Exodus offers mobile and desktop apps that allow you to manage your crypto stocks on your computer. Unlike many platforms, you don’t need to sign up for an account at Exodus. You do, however, need to have a device that supports this platform.
Once you have Exodus up and running on your devices, your next step is to transfer your bitcoin and other altcoins to it.
Note that Exodus works as a wallet. This means that you can only use it by placing your cryptocurrencies in it.
In case you don’t have any crypto stocks yet, you can check out trading platforms to find bitcoins and altcoins to buy with cash.
Exodus, on the other hand, has a feature where you can exchange your cryptocurrencies for other altcoins. For example, you want to exchange your bitcoins for Ethereum. This is possible through Exodus.
Pro tip: Make sure to back up your Exodus wallet. You can find this feature in the Security settings of the app. Write your 12-word secret recovery phrase on paper and keep it in a secured place.
Who is Exodus Best for?
Exodus is the best platform for those starting in the cryptocurrency market. Although you can find platforms that offer both trading and wallet, it can be helpful to learn about alternative wallets, such as Exodus.
What also makes Exodus ideal for beginners is its free features. Without having to worry about paying subscription fees, you’ll feel more comfortable exploring cryptocurrency exchange.
How Much You Can Earn With Exodus?
Exodus offers a feature where you can make passive income in crypto stocks. Here, you can put your crypto stocks at stake and depending on what it is, will earn interest.
To give you an idea, here are some cryptocurrencies and their estimated APY rates:
| Cryptocurrencies | APY Rates |
|---|---|
| Solana | 5.83% |
| Algorand | 0.06% |
| Cosmos | 14.00% |
| Cardano | 4.91% |
| Tezos | 5.66% |
Exodus Fees: How Much Does it Cost to Invest With Exodus?
Exodus has virtually the lowest trading fees as it doesn’t keep any of the transaction fees incurred from sending crypto stocks. All fees go to the network, particularly the miners, people who spend resources to process and secure a cryptocurrency network.
When you send crypto to other wallets, Exodus automatically computes the transaction fee. You’ll see this amount right on the confirmation page before you can complete the transaction.
Exodus also doesn’t charge anything when you receive crypto stocks from other wallets.
Exodus Features: What Does Exodus Offer?
Mobile Wallet
To use Exodus on your mobile device, you’ll need to have an iPhone running on at least iOS 10 or an Android device with Android 8.0 or higher operating system. Once you meet these system requirements, you can download the Exodus app from the application store.
What’s great about using the Mobile Wallet is that you can sync it with your Desktop Wallet. You only need to scan the QR code on our desktop wallet settings. You can do this step to sync your mobile wallet to another mobile device.
Desktop Wallet
As for using Exodus on your desktop, you’ll need to download the Desktop Wallet from the Exodus website. Then, click on the installer file in your download folder to initiate the installation, which takes a few minutes.
Trezor Hardware Wallet
This feature lets Trezor Model T and Trezor One users link their hardware wallet to Exodus. By doing these, users can quickly transfer their cryptocurrencies from Trezor Hardware Wallet to their Exodus account.
Additionally, this feature allows the users to exchange cryptocurrencies in their Trezor Wallets through their Exodus desktop or mobile app.
Crypto Earning App
The Crypto Earning app allows you to stake crypto stocks and earn interests. Some of the digital assets you stake are Solano, Cosmos, and VeChain. By staking your crypto stocks, you can earn up to 14% APY.
Compound Finance
Compound Finance is another Exodus feature where you can passively grow your cryptocurrency stocks. This allows you to deposit DAI and enjoy interest rates higher than bank average rates. There are also no deposit or withdrawal limits in this option.
According to the Exodus website, you can earn up to 3.26% annually on Exodus compound finance.
Exodus Requirements
Since you don’t need to create an account or provide personal details, Exodus pretty much allows everyone to use it. You only need to meet the system requirements to install Exodus on your devices.
The mobile app runs on iPhones with at least iOS 10. Android devices should have at least Android 8 installed.
On desktop computers, Exodus works only with the following operating systems:
- Windows 10 or higher
- M1 Mac
- macOS 10.12 or higher
Also, make sure that your device has a 64-bit processor. Unfortunately, Exodus is not supported on desktop computers with 32-bit processors.
Exodus Payout Terms and Options?
Exodus is a crypto wallet that lets you receive, send, and exchange cryptocurrencies. It currently doesn’t have the feature to sell your crypto stocks to USD.
Also, there’s no option to link a bank account on the platform.
Exodus Risks: Is Exodus Safe to Invest With?
Generally, the cryptocurrency market is a highly volatile investment option. It’s why this is only ideal if you’re looking to diversify your portfolio and are prepared for the risks.
Once you’ve got the risks out in the open, securing your crypto assets is the next best priority. These days, there are many crypto wallets advertising top-grade security measures, including Exodus.
What’s great about Exodus is that your data is localized on your devices. You also don’t need to provide any personal information. Exodus even claims they don’t keep user data, including what’s in your portfolio.
Considering how it works, Exodus is safe to use for cryptocurrency investments.
How Does Exodus Protect Your Money?
Cryptocurrencies are not insured by the SPIC, FDIC, or similar government institutions. Despite that, Exodus protects your money by ensuring only you have access to your data on the platform.
Additionally, Exodus doesn’t store any sensitive data. This means only you know your 12-word secret recovery phrase and public addresses.
With this in mind, make sure to take recommended steps to secure your Exodus Wallet. These include keeping your 12-word secret recovery phrase in a secured place. You can also devote a computer for your Exodus Wallet or use a Trezor hardware wallet.
Exodus Reviews: Is Exodus Legit?
Exodus is a safe and legitimate platform to store your crypto stocks. It has 4.2 ratings at Trustpilot, with over 6,000 reviews. The Exodus mobile app has a 4.6 rating at the Apple App Store and 4.5 at Google Play Store.
With such high ratings, it’s unsurprising to see users complimenting its features. Others also liked how it’s easy to use, especially for those starting in the cryptocurrency market.
On the other hand, some users encountered issues with the mobile app. According to them, the app was crashing on their devices, and they couldn’t access their cryptocurrencies.
Noticeably, the Exodus support team tried to address these problems by replying to the user reviews and providing troubleshooting steps and the email address to contact them.
What Are the Exodus Pros & Cons?
Exodus Pros
- Access to over 155 cryptocurrencies
- Easy-to-use interface
- Excellent customer service
- There’s no need to register and create an account
Exodus Cons
- Doesn’t support buying and selling crypto to fiat currencies
- Security depends on the user
How Good is Exodus Support and Knowledge Base?
Exodus has a really good Support page where you can find knowledge-based articles. These articles are categorized based on topics. Besides step-by-step instructions, most how-to articles have video tutorials.
In case you’ll need more assistance from their support team, you can reach out to them through the support page. Just click on the Send Us a Message button and enter your name, email address, and message.
Exodus Review Verdict: is Exodus Worth it?
Exodus is an easy-to-use platform, ideal to learn cryptocurrency stocks for beginners. The user-friendly apps for desktop and mobile let you access over 155 crypto stocks. What’s best about the platform is that it doesn’t charge you transaction or service fees.
If you’re looking to become an active trader, it also shows you real-time data, helping you discover the next bitcoin.
Additionally, you can build a diverse portfolio of altcoins and other digital currency stocks.
Suppose you want to make money off your cryptocurrency stocks but have no time to actually do the trading. In that case, you can still make a profit from your crypto by staking your altcoins.
Considering all these plus its superb customer service, Exodus is surely worth it.
How to Sign Up With Exodus?
Unlike crypto trading platforms, Exodus doesn’t require users to sign up. You can use Exodus by downloading it on your mobile device or desktop computer.
Sites Like Exodus
| Sites Like Exodus | Service Fees | Minimum Deposit | Best for |
|---|---|---|---|
| Exodus | 0% | 1 XLM | Crypto beginners |
| Coinbase | 0.5% to 4.5% | $50 | Crypto traders |
| Binance | Up to 0.5% | $50 | Crypto traders |
| BlockFi | About 1% | $0 | Intermediate/advanced crypto trader |
Exodus vs. Coinbase
Coinbase Summary
- Over 4500 cryptocurrencies to choose from
- Low minimum deposit amount of just $2
- Get $10 when you sign up for an account
- Get a $10 bonus for each friend you refer
Coinbase is quite similar to Exodus as it allows you to store, send, and receive bitcoins and other cryptocurrency stocks. However, Coinbase works as a brokerage platform since you can buy and sell digital assets here, too.
Exodus vs. Binance
Binance Summary
- Low fees
- Offers stocks, futures, and options
- Powerful tools to learn active trading
- Eide range of products for passive income
Binance is a great alternative to Exodus as it also offers peer-to-peer crypto trading. Both platforms also don’t have any fiat currencies, so you can only exchange crypto stocks for another digital asset.
But, between the two, you might find Exodus more beginner-friendly.
Exodus vs. BlockFi
BlockFi Summary
- Get a $10 bonus for every referral
- Get up to 3.5% cashback on card purchases
- Borrow money from as low as 4.5% APR
- Earn up to 9.5% APY on your deposits
Sites like Exodus and BlockFi offers users the option to earn interest in their crypto stocks. While BlockFi claims you can earn up to 11% APY, it supports fewer crypto assets compared to Exodus.
Other Investment Sites Like Exodus
Exodus FAQ
How do I transfer money from my Exodus Wallet to my bank account?
To do this, you’ll need to use another platform where you can exchange your crypto assets to fiat currencies, like Coinbase. After which, you can transfer the money equivalent to your bank account.
How long does it take to transfer from Exodus to Coinbase?
Transferring cryptocurrencies from Exodus to Coinbase takes around 10 minutes.
Is Exodus a hot wallet?
Yes, as it’s a software wallet.
Can you stake ETH on Exodus?
No, ETH is not included in the 7 cryptocurrencies you can stake in Exodus.
How does Exodus make money?
Exodus generates profit from partnerships with API and exchange providers, offering their services to Exodus Wallet users.
