Exodus is a cryptocurrency wallet that can be accessed on desktop and through mobile apps designed to give you complete control over your cryptocurrency assets.
For starters, both the desktop and mobile versions of the app offer full compatibility with ShapeShift, a popular cryptocurrency exchange that allows you to trade between blockchains. This means Exodus users have access to store and trade over 150 crypto assets.
Like other desktop wallets, Exodus stores cryptocurrency assets directly on your machine. Because Exodus is a lite wallet, you never have to download the whole blockchain to your computer, which makes transactions faster.
The company’s biggest claim to fame is its intuitive, user-friendly interface. The Exodus desktop wallet aims to provide all the bells and whistles to control an entire cryptocurrency portfolio, and it’s designed for people who have never actually used an exchange.
The Exodus wallet is free to download on your computer or mobile device. It’s also free to store your digital assets in the wallet.
As a service provider, Exodus charges transaction fees each time a payment is processed. The fees themselves are paid to each blockchain network — for example, Bitcoin, Ethereum and Solana — and are not kept by Exodus.
Because Exodus prioritizes speed and reliability over lower fees, it tracks changes on the blockchain network and adjusts fees accordingly. As such, fees cannot be set manually.
So, how does Exodus make money? By taking a small portion of the spread on the major asset exchanges. Typical spreads range from 1% to 3%.
Exodus also makes money off Ramp, a new feature that allows you to buy crypto with cash. Exodus charges a small fee when you use Ramp to convert your cash to crypto.