Exodus vs Trust Wallet: Cryptocurrencies are becoming more popular these days, and thus there is an increase in the usage of crypto wallets and decentralized applications.
These days, cryptocurrency exchanges have made their security protocols quite strong to protect their client’s funds and other personal information. But it is always safe to store your crypto holdings in a secure wallet.
Basically, crypto wallets are digital storage devices that keep your private keys – the passwords that give you access to your cryptocurrencies securely.
Although there are various software wallets available out there, we’ll be talking about Exodus and Trust Wallet in this article. Selecting the best crypto wallet isn’t simply choosing one that has the best of everything, and it is more than that!
You need to find the right one that fits your needs. Therefore, learn more about Exodus vs Trust wallet, how they work, their features, supported currencies, pros & cons, and many more.
Exodus vs Trust Wallet: Product Overview!
Exodus and Trust wallet are cryptocurrency exchanges that offer staking, digital wallets, and a wide range of cryptocurrencies.
They are developed to combine ease of use and convenience with easy access to your crypto. Both of these are available on Android and iOS platforms and offer an incredible user interface.
These crypto platforms differ in their fees and features. Trust Waller can be the best choice for beginners, whereas Exodus offers more coins and control over assets.
Check out the guide below to know everything about Exodus vs Trust Wallet comparison!
Exodus is a multi-cryptocurrency wallet that lets you manage, secure, and exchange your favorite cryptocurrencies like Ethereum, Bitcoin, Ripple, and many more.
It is a free desktop and mobile crypto wallet and has full compatibility with hardware wallets like the Trezor Model and Trezor One.
You can use the Exodus wallet to exchange cryptocurrency without going through any registration process. Nevertheless, it is essential to note that Exodus employ ‘Simplifies Payment Verification’ as a light wallet.
What makes it more significant is its in-built exchange and the ability to support hardware wallets, which is why it has been well-received by many people in the crypto world.
Moreover, it features a user-friendly interface and a visually attractive design. And it offers crypto prizes directly to the user’s wallet, causing no risk to the user.
Another significant feature of Exodus is the process of sending bitcoin from the wallet. You just need to press the send button and type in the public wallet address to which you’d like to send the cryptocurrency.
Trust Wallet Overview
Trust Wallet is a decentralized open-source mobile crypto wallet and is the official crypto wallet of Binance. It offers over 160,000 assets and blockchains and allows traders to get interested by staking their coins.
Both Android and iOS users can download the Trust Wallet app easily. And with the Trust Wallet, you can send, receive and store Bitcoins and many other cryptocurrencies and digital assets safely and securely.
Although it was primarily designed to support only ERC223 and ERC20, it has now been developed to comprise other major cryptocurrencies like Bitcoin.
You can easily purchase coins through Trust Wallet’s partnership with the Kyber Network’s native decentralized exchange (DEX).
One of the important aspects of Trust Wallet is that the code is entirely open-source. Another significant feature of this wallet is its focus on user privacy and protection.
If you want to earn interest on your play blockchain games, collect NFTs, crypto and access the latest DApps and DeFi platforms, you can use Trust Wallet without a doubt!
Exodus vs Trust Wallet: How Do They Work?
How Does Exodus Work?
You can easily create an Exodus wallet after downloading the app from the App Store or Google Play Store. Then, you can add different cryptocurrencies to your wallet by clicking on Wallet and Receive.
Basically, the primary purpose of the Exodus platform is to simplify the management, access, and use of digital coins.
Similar to any other Cryptocurrency wallet, Exodus also functions through a series of codes that assist users in managing and linking their crypto coins in different blockchains.
Instead of storing crypto, it stores a set of 3 codes – seed phrase, primary keys, and public address.
These primary keys offer access to the crypto coins in blockchains and a public key works as an address to the wallet. And the seed phrase is a recovery phrase code that assists in regenerating the private keys when it is lost.
Their portfolio page shows all the necessary information along with the breakdown of the crypto coin owned and their updated values against fiat currencies.
Moreover, its integration between Exodus and ShapeShift has led to a fantastic value. ShapeShift has a unique user interface, security, trading, and privacy features.
How Does Trust Wallet Work?
Trust Wallet is an easy place to start! All you need to do is download the app completely free and create a wallet, depending on your requirements.
If you have newly created your account, you’ll be provided with a 12-word recovery phrase for future confirmation. Note that you can have more than one wallet.
Trust Wallet connects individual blockchain networks through their nodes. And every blockchain network has its own set of public addresses – Public Key, which stores and encrypts your crypto assets.
Remember that it doesn’t hold any cryptocurrencies in its servers; it only gives users access to this wallet.
And you’ll have the ability to use Face ID, Touch ID, or traditional passwords to protect and secure your crypto investments.
Exodus vs Trust Wallet: How They Stack Up!
Here is everything about Exodus vs Trust Wallet:
- Allows you to secure, manage, and exchange your favorite cryptocurrencies.
- Buy and sell one digital asset for another without going through centralized exchanges.
- Manage your wealth in a blockchain wallet.
- Exodus encrypts your private keys and transaction data on your device so that no one can access it.
- Ability to track your cryptocurrency portfolio and its performance over time.
- Use the built-in exchange feature to buy and sell easily.
- You can send, receive and store Bitcoins and many other cryptocurrencies and digital assets safely.
- Designed for ease of use and perfect for storing crypto assets.
- It provides a secure system that makes buying and storing multiple cryptocurrencies simple.
- Integrated Uniswap and PancakeSwap trading directly in the wallet.
- Check your crypto wallet balance, transaction history, and other details on your device.
- Ability to use FaceID, Touch ID, or conventional passwords to protect your crypto investments.
Although software wallets are usually called out for not being as secure as hardware wallets, Exodus and Trust Wallet have made necessary developments in this area. Let’s see how Exodus vs Trust Wallet compares in security.
Exodus: Even though Exodus has reasonable security, it is not really impressive. It comprises a user-created password needed to access the wallet.
Then, you’ll also need to create a 12-word seed phrase, which helps in recovering your wallet if the device breaks down or gets stolen.
So, don’t forget to note down this phrase somewhere in offline storage instead of your device or computer.
Nevertheless, we should not overlook its drawbacks. For instance, it doesn’t have any high-level protection against hackers and lacks two-factor authentication.
Additionally, it also lacks a multi-signature feature, which typically gives an extra layer of security to the wallet. Therefore, it can be super easy to hack and steal your logins.
Trust Wallet: Trust Wallet tries to ensure that the client’s funds are safe. Its primary aim is to store all the user’s assets safely.
It has amazing features like fingerprint scanning, scanning, and QR code, making the app as secure as possible for crypto holdings.
You can activate these features from the settings depending on your preference. It also conducts regular audits through the leading security firm stateful.
Trust Wallet lets you store the keys of your wallets on your computer instead of storing them on the app’s server. Thus, it is your responsibility to store private keys. Moreover, there are no reports of funds stolen by hackers!
Exodus: Exodus’s interface is fairly intuitive. It has many icons at the top of the interface, which you can use to perform different functions.
For example, its Portfolio icon provides you a complete overview of your cryptocurrencies with relevant information like the price at different times at different assets.
And from its wallet section, you can send and receive any of the supported cryptocurrencies by using the wallet addresses or by scanning the QR code.
Trust Wallet: Trust Wallet has a simple, easy and straightforward user interface.
Thus, it has managed to have over 5 million active users to date as well as a partnership deal with one of the leading cryptocurrency exchanges – Binance.
Ease of Use
Exodus: Exodus isn’t available through a web browser, and you need to download the Exodus app that is available for macOS, Windows, and Linux.
As it doesn’t need registration, you can simply download the app and install it, open a software wallet to start using it.
Also, remember that it doesn’t comprise two-factor authentication support and only depends on a password despite taking all the steps to ensure that the Exodus app is secure.
And since the app is developed to provide both portfolio management and crypto exchange service, you can use it seamlessly to manage, store and trade cryptocurrencies from a single interface.
Trust Wallet: You can easily create your wallet by going through the regular process, such as entering your email address, creating a password, and entering a seed phrase.
As the Trust Wallet offers its users a single wallet address, you can add their desired token list from a list of tokens integrated directly inside the wallet.
Since Binance owns Trust Wallet, using Trust Wallet becomes really easy if you have a trading account with Binance.
You can also have access to top cryptocurrencies through the Trust Wallet instead of using different wallets.
That means it is developed in such a way that you can access both ICO tokens, airdrops, and Ethereum through one address.
Fees play an important role in these crypto wallets. So, let’s see how Exodus vs Trust Wallet compares in terms of fees!
Exodus: It neither charge any fees for sending or receiving crypto nor holds any fees related to the withdrawal of funds. But sometimes it is not free and even charges higher prices.
Almost all blockchain transactions have network or miner fees. Other than this, you’ll never pay transaction fees when receiving in Exodus.
And unlike other exchange platforms, Exodus doesn’t keep any part of the transaction fees charged for withdrawing Ethereum, Bitcoin, or any other cryptocurrency.
Trust Wallet: It is entirely free to download and doesn’t charge any fees for installing or setting up your account on the wallet.
It also doesn’t charge anything for using the wallet, and it doesn’t charge an extra fee for exchanging one crypto for another one.
However, the only fees charged on the app are the gas fee which are the fees for processing transactions on the app.
The gas fee goes to the Ethereum miners who confirm the transaction. That means Trust Wallet doesn’t get any part of your transaction fees.
Also, during the times of high usage of the Bitcoin blockchain, it might charge $5 to $10 for every transaction you make. And the Ethereum blockchain can charge up to $10 per transaction.
Exodus vs Trust Wallet: How Do They Differ?
|Type of Wallet||Software Wallet||Software Wallet|
|Storage Type||Hot Wallet||Hot Wallet|
|Available Coins||Over 90 coins, including Bitcoin, NEO, Dogecoin, Revain, Zcash, and many more||Over 197 coins, including 160K+ assets and blockchains|
|Supported Countries||Almost all||Almost all|
|Supported Languages||English||English, German, Japanese, Spanish, Chinese, Dutch, Korean, Brazilian, Vietnamese, Portuguese, French, Turkish & Indonesian|
|Support Hardware Wallet||Yes||No|
|Charges||Zero fees for sending or receiving crypto, but it does charge network fee||Only gas fees, that is network fees|
|Customer Support||24/7 through mail||Self-help guide and articles|
Exodus: Exodus can be a perfect option for those who are just crypto newbies.
Moreover, the wallet with its intuitive features is a good option for exchanging and managing small amounts of cryptocurrencies.
However, it cannot be the better option for advanced crypto users because the ability to set custom fees is only restricted to Bitcoin. Therefore, Exodus is not for all kinds of users.
Trust Wallet: On the other hand, it is quite difficult to talk against Trust Wallet with really minimum faults. And the interface is relatively straightforward and doesn’t have any complications.
In addition, it has a solid reputation. For instance, you can use Google Authentication, Two-Factor Authentication, and even SMS or email verifications.
Additionally, there are very few fees associated with Trust Wallet. That means you don’t have to pay any swapping, wallet, or DApp fees. But the only unavailable fees are the gas fees or network fees.
The only downside is that it is entirely mobile-based, and you cannot use it on your desktop. Thus, it can be pretty annoying for desk-bound types who like to use it on their computer.
Whch is the Best Wallet: Exodus vs Trust Wallet?
So, now the question comes, which wallet is the best for you? Well, Exodus has a hybrid wallet, which means it has both mobile and desktop app.
However, Trust Wallet can be the perfect option for anyone because it has a wide range of coils available in its wallet.
And it supports different types of security features, such as Face ID, Touch ID, 2FA, and more, whereas Exodus doesn’t have the 2FA security feature.
Additionally, it also doesn’t have charge any fee except the gas fees. So, we hope the above article has helped you to know clearly about Exodus vs Trust Wallet comparison.
Is exodus a trusted wallet?
Even though Exodus has reasonable security, it is not really impressive. It doesn’t have any high-level protection against hackers and lacks two-factor authentication.
Does Trust Wallet charge any fees?
It is entirely free to download and doesn’t charge any, and the only fees charged on the app are the gas fee which are the fees for processing transactions on the app.
Does Exodus charge a fee?
It neither charge any fees for sending or receiving crypto nor holds any fees related to the withdrawal of funds. But sometimes it is not free and even charges higher prices.
What if I lose my phone with Exodus wallet?
If you lose access to your wallet, you can still have control over your assets if you remember the seed recovery phase.