Introduction: Keeping your digital assets safe is of paramount importance in the world of cryptocurrency. In this review, we compare two leading crypto wallets, Exodus vs Trezor, to help you make an informed decision. With a focus on factors such as blockchain support, unique features, hardware wallet support, and security, we aim to provide you with the ultimate guide in choosing the perfect wallet!
Exodus Wallet was founded in 2015 and is a popular cryptocurrency wallet with over 2 million users. It was created by JP Richardson and Daniel Castagnoli with the goal of providing users with an easy and secure way to manage their assets.
With over 300 employees and regular updates every two weeks, Exodus is committed to constantly improving its product and offering new features to its users.
Exodus is an open-source non-custodial wallet, meaning that users have full control over their funds. The wallet supports a wide range of digital assets, including Bitcoin and Ethereum, and is compatible with Windows, Mac, Linux, Android, and iOS devices.
It also offers integration with hardware wallets for enhanced security. The reviews for Exodus Wallet are positive, with a stellar rating of 4.7 on the mobile app based on over 100,000 reviews.
Users appreciate the user-friendly interface and the ability to buy cryptocurrencies directly through the app using various payment methods. The browser extension has also received positive feedback, with over 80,000 downloads and a 4.5 rating.
On the other hand, Trezor Wallet is a hardware wallet founded in 2013 by Marek Palatinus and Pavol Rusnak. It was launched by the company Satoshi Labs and has since grown to over 1 million users.
Trezor is known for its focus on security, as it stores users private keys offline on a hardware device. This "cold wallet" approach is considered one of the safest ways to store digital assets.
Trezor Wallet supports over 1,000 different cryptocurrencies and offers advanced security features like Shamir Backup for asset recovery.
In addition to the hardware wallet, Trezor has also developed Trezor Suite, a desktop, browser, and mobile app for buying, selling, sending, and receiving cryptocurrencies. The app has received tens of thousands of downloads on Android and iOS.
Exodus vs Trezor User Experience
Starting with Exodus Wallet, this wallet stands out for its seamless integration across multiple devices. Whether you prefer using a browser, mobile, or desktop, Exodus Wallet allows you to access your funds easily.
The user experience is top-notch, with a user-friendly interface that is both intuitive and visually appealing.
You'll find a wide range of features within Exodus Wallet, including support for numerous blockchains, thousands of cryptocurrencies, and even the ability to swap assets directly within the app. For those that swap within the wallet, note that Exodus charges a 1-3% swap fee.
Additionally, Exodus Wallet offers staking, allowing you to earn rewards on your holdings. Another great advantage is the ability to buy cryptocurrencies with fiat currency, making it convenient for users who want to enter the market.
On the other hand, Trezor Wallet is known for its exceptional security and ease of use. Trezor offers two hardware wallet options, the Model One and the Model T.
Both devices come with a compact design and a small monochrome display, making it easy to manage your assets securely. The user experience is straightforward, and you have full control over your private keys.
Trezor Wallet supports a wide range of cryptocurrencies, allowing you to store and manage your digital assets with peace of mind.
Additionally, Trezor has received excellent ratings on platforms like Amazon, indicating that users are satisfied with the usability and functionality of their hardware wallets.
However, it's worth noting that Trezor Wallet is primarily designed for those who prefer using a hardware device. As such it's not as convenient for users who just want to get started fast with a free mobile or browser-based wallet.
Exodus vs Trezor Features
Exodus Wallet offers users a range of features and services within the wallet interface. One notable feature is the built-in exchange, which allows users to easily swap between their cryptocurrencies.
It's important to note that when using the Exodus exchange, users must have the native token of each blockchain in order to complete the swap. For example, if a user wants to exchange ETH or ERC-20 tokens, they must have some ETH in their wallet.
Additionally, Exodus charges a transaction fee for their exchange service. Privacy and convenience are key benefits of using the Exodus Wallet.
Users can also buy cryptocurrencies within the wallet using third-party integrations with MoonPay and Ramp, offering a seamless purchasing experience.
The wallet also offers a staking service, allowing users to earn rewards on supported cryptocurrencies such as Solana, Algorand, Cosmos, Cardano, Tezos, Ontology, and VeChain.
In addition, users can earn interest by lending out their DAI through the compound finance integration.
The wallet also features an NFT Gallery, supporting NFTs on leading blockchains including Ethereum, Solana, Algorand, Polygon, BNB, Cardano, Avalanche, and Fantom. This allows users to buy, sell, and trade NFTs directly from their wallet.
On the other hand, Trezor Wallet offers users a wide range of features through its Suite App. Users can easily send and receive over 1,000 digital assets such as Bitcoin, Ethereum, Avalanche, and Chainlink.
The Suite App provides a visually appealing display where users can track and overview the value of their portfolios.
Trezor Wallet supports buying and swapping cryptocurrencies within the Suite App, allowing users to connect to trusted third-party exchanges through Invity.
However, users should be aware that the exchange fees charged by these providers range from 1.8% to 3.6% in commissions, which can be quite expensive.
While Trezor Wallet does not natively support Web3 access, it can be used with third-party applications like Exodus Wallet to access decentralized applications (DApps).
Users maintain full control and can confirm all actions directly in their Trezor wallet. Staking is also available through third-party integrations that support Trezor.
When it comes to NFTs, Trezor Wallet can store them but they cannot be visualized within the Suite App. Users will once again need to rely on third-party tools to interact visually with their NFTs.
Exodus and Trezor both prioritize user security and provide a range of features to ensure the safe storage of digital assets.
Starting with Exodus, this wallet offers users an advanced level of security by storing private keys and transaction data locally on their devices. This means that only the user has access to their funds and personal information, reducing the risk of external threats.
Exodus also employs a secure encryption system to further protect sensitive data from being exposed. In the event of a system crash or other unfortunate events, Exodus features a built-in backup tool that allows users to easily recover their wallets.
One of the notable aspects of Exodus is its commitment to top-tier security. The company employs world-class security experts, including some of the top researchers from the renowned platform, HackerOne.
They follow secure design principles and conduct regular manual audits, utilizing secure tooling and automation to ensure the safety of user assets.
Additionally, Exodus operates a coordinated vulnerability disclosure program in collaboration with HackerOne, harnessing the collective strength of the community to identify and address any potential vulnerabilities.
Moving on to Trezor, this offline hardware wallet takes security to the next level by removing online access to users data. Trezor wallets never expose digital asset information to the internet unless specifically requested by the user.
The software used in Trezor devices is open-source, allowing for thorough audits to identify vulnerabilities. With a community of over 200 developers continuously working to enhance the software, Trezor ensures that the wallet remains secure and up-to-date.
Trezor offers multiple layers of security. Users can set a PIN, which protects against unauthorized access and is immune to key-loggers.
The wallet also allows for the creation of a passphrase, which is used for account recovery. With this feature enabled, users can create multiple passphrase-protected wallets, enhancing security even further.
Additionally, Trezor employs secure packaging and deletes or anonymizes data 90 days after purchase to safeguard user information.
Exodus vs Trezor Conclusion
While both Exodus and Trezor Wallet provide users with secure options for managing their assets, they differ in their approach.
Exodus Wallet stands out for its seamless integration across multiple devices, including browser, mobile, and desktop. With a visually appealing and user-friendly interface, Exodus Wallet provides a top-notch user experience.
It supports a wide range of assets and offers the ability to swap cryptocurrencies directly within the app. Additionally, Exodus Wallet offers staking options and the convenience of buying cryptocurrencies with fiat currency.
As an offline hardware wallet, Trezor offers exceptional protection for users' digital assets by storing data offline and allowing offline access.
It supports a wide range of cryptocurrencies and provides advanced security features like PIN protection and the option to create multiple passphrase-protected wallets.
While Trezor Wallet may not offer the same convenience of a mobile or browser-based wallet, it provides maximum security for users who value offline storage.
Those seeking a free and user-friendly software wallet with a wide range of supported assets may prefer Exodus, while users prioritizing maximum security and offline storage may opt for Trezor.
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.