Introduction: Exodus is a secure multi-cryptocurrency wallet designed to make it easy to store, send, and receive digital currencies. It supports 100s of digital assets, including Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC). While the Exodus wallets are free to download and use, in this breakdown, we review the wallet fees charged by Exodus.
Exodus is a multi-platform wallet that allows users to store, manage, and exchange a variety of cryptocurrencies. It has features such as portfolio tracking and a built-in exchange where users can swap between their assets.
While the Exodus wallet is free to use, the company makes money by charging a small fee on the swaps that take place within their wallet. The amount of crypto being exchanged and received is always displayed in the exchange section of the wallet.
Exodus Exchange Fees
Exodus makes money by receiving a small percentage of the exchange fees that occur when users swap assets. The exchange services available on Exodus are offered by external third-party providers. Below we have outlined the exchange fees quoted within the Exodus Wallet for different trading pairs:
100 USDC (ETH) = $98 ETH worth of ETH (2% exchange fee)
Overall, Exodus wallet charges a reasonable fee for its exchange services. While Exodus can’t compete with exchanges optimizing for the highest liquidity and lowest fees, users do gain privacy and convenience in exchange for the higher exchange fees.
Exodus Transaction Fees
The spread between the two assets being traded is the difference between the value of the assets. If I trade $50 worth of USDC for $48 dollar worth of BTC, then a 4% worth of spread was incurred.
The spread changes depending on the assets being traded and the amount of available liquidity. Exodus provides full transparency when an exchange is being made by listing approximate asset values in local currency alongside the market pairs to give users an easy way to assess the costs.
Exodus Transfer Fees
Except for network or miner fees, Exodus does not charge any fees when you send, receive, or withdraw Bitcoin, Ethereum or any other cryptocurrency. These fees, which are 100% given to the network, are the only fees incurred in blockchain transactions.
Exodus Network Fees
In addition to the exchange fee, Exodus wallet also charges a network fee. This fee is determined by the network you are trading on. For example, if you want to trade Ethereum-based USDC to native ETH, in addition to the exchange fee, you also need to have some available ETH to enable the transaction. The fee amount is determined by the size of the transaction and the current network fee rate.
Exodus Staking Rates
Staking rewards are rewards given to holders of certain cryptocurrencies for holding or staking their coins on the network. This reward is given in the form of additional coins or tokens and is proportionate to the number of coins held and the length of time.
Currently, Exodus supports staking rewards for the following cryptocurrencies:
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.