Exodus
Exodus is a software wallet designed to make self-custody feel as easy as a banking app — which it largely achieves. That same convenience is the trade-off: your keys are encrypted on your device, but that device is connected to the internet, which is a fundamentally different risk profile than a hardware wallet.
Fees
| Wallet usage | Free |
| In-app swap | Spread built into exchange rate |
Security
Private keys are encrypted and stored locally, never sent to Exodus's servers — but because the app runs on an internet-connected device, it's exposed to malware in a way hardware wallets aren't. Exodus can be paired with a Trezor for cold-storage signing, which is the setup worth using for anything beyond a small working balance.
Pros and cons
Pros
- Best-in-class design for a first self-custody wallet
- Built-in exchange/swap functionality
- Can pair with a Trezor for cold storage
Cons
- Hot wallet — keys live on an internet-connected device
- Closed-source codebase
- Not suited for holding large amounts long-term
Verdict
The friendliest interface we've tested for a first self-custody wallet, but it's hot storage by default — fine for small amounts, not where you want your long-term holdings sitting.
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