Exodus Review

Exodus scores 7.0 out of 10 in our wallet ratings, fifth of the six wallets we rate. It does well on asset coverage, hardware pairing and key custody. It loses most of its points on code transparency and on swap pricing, which is published only as a starting rate.

How Exodus scores in wallets

Every wallet in this category is marked on the same five criteria, each from 0 to 10 and each carrying equal weight. The basis is desk research of primary sources: Exodus's own website and knowledge base, and the annual report it filed with the US Securities and Exchange Commission (SEC) in March 2026. We did not install or test the app for this rating.

The overall score is the plain average: (9 + 3 + 9 + 5 + 9) / 5 = 35 / 5 = 7.0.

Two marks rose at this check, each because a primary source now says something it did not say, or that we had not cited, at the July 2026 check. Custody & key control rose from 8 to 9 after the annual report stated that private key data is not retained by Exodus, which is the same kind of statement that earns MetaMask, Phantom and Trust Wallet a 9. Fee transparency rose from 4 to 5 because the homepage now gives a starting rate for swaps and a support article explains how the spread is set. Open source was first raised from 3 to 4 after Exodus's knowledge base began stating its position (partly open, partly closed), then returned to 3 under the category's scale rule of 2 November 2026, which gives 3 to a proprietary core with only some components open. The overall score moved from 6.6 to 7.0.

Strongest criteria

Chain & asset coverage: 9

The annual report for 2025 describes the wallet as letting users send, receive and store more than 700,000 digital assets, fungible tokens and NFTs among them, on both desktop and mobile. That figure is the company's own count, and it measures how many assets the app lists, not how deep the support is on each network. It is still the second-broadest coverage among the wallets we rate, behind Trust Wallet's 100-plus blockchains.

Hardware wallet support: 9

Exodus connects to both Ledger and Trezor devices, so keys can stay on dedicated hardware while the Exodus interface is used for viewing balances and building transactions. Two major device families earn a 9. The 10 in this category goes to wallets such as Sparrow and Rabby, which list a much wider range of signers, including air-gapped devices that work by QR code. Our hardware wallet ratings cover the devices themselves.

Custody & key control: 9

Exodus is self-custodial. Its knowledge base says keys are encrypted and stored on your device, and its SEC filing says the company does not retain private key data. The trade-off is the usual one: if the 12-word recovery phrase is lost, Exodus cannot restore access.

Weakest criteria

Open source: 3, a measured deficiency

Exodus's answer to "is Exodus open source?" is "partly". Its knowledge base says the wallet is built on many open-source components, but that some parts, including design and interface elements, are kept closed so that phishing copies of the app are harder to build. The annual report lists the open-source licences it uses (MIT, Apache, Mozilla Public License and others). It does not say which parts of the shipped app can be read. The result is that nobody outside the company can check the released app against public source. That is a deficiency, not a gap in our research. Under the category's scale, a proprietary core with only some components open scores 3, the same mark MetaMask receives for its non-commercial licence. It sits two points below Trust Wallet's 5, because Trust Wallet names a specific core library, Wallet Core, and its Apache 2.0 licence, while Exodus does not say which of its components are public.

Fee transparency: 5, partly disclosed

Sending crypto costs only the network fee; Exodus says it keeps none of it. Swaps are different. They run through third-party providers, and the cost is a spread built into the rate rather than a stated fee. The homepage says swap rates start at 0.5%. Exodus's support article on spreads says the spread changes with liquidity and widens in volatile markets or for thinly traded assets, and that the app shows the exact amounts before you confirm. A floor without a ceiling tells you the lowest possible cost, not what a given swap will cost. MetaMask, Phantom and Rabby each publish a fixed percentage and score 10. The way to compare is to read the preview: if $1,000 of one asset would return $985 of another, the swap costs about 1.5% all-in. Our guide to where exchange fees hide explains how to price a spread.

What the score does not cover

• The browser extension. Exodus ended support for its Web3 Wallet extension on 1 October 2026. It no longer sends or shows balances. No criterion measures platform range, so the score did not move, but the change matters if you connect to decentralized apps from a desktop browser.
• Exodus Pay and the card. The payments account and virtual card bring in identity checks and third-party issuers. They are outside this rubric.
• The swap providers themselves. The annual report says that once a provider is selected, Exodus has no further involvement in the transaction. We did not assess the providers.
• Security testing. We did not audit the code, and a high mark is not a safety guarantee.

Exodus vs Phantom and Trust Wallet

Among the six wallets we rate, the standings are Rabby Wallet 9.0, Sparrow Wallet 8.8, MetaMask 7.8, Phantom 7.4, Exodus 7.0 and Trust Wallet 6.4. Exodus's closest neighbors are Phantom at 7.4 and Trust Wallet at 6.4. Exodus outscores Phantom on coverage (9 against 7) and hardware support (9 against 8), but Phantom publishes an exact 0.85% swap fee (10 against 5). Phantom is ahead overall by 0.4. Against Trust Wallet, 0.6 behind, Exodus trails on coverage (9 against 10) and open source (3 against 5) but leads on fee disclosure and, by a wide margin, on hardware support (9 against 4).

Who it suits

The score favors someone who wants one desktop and mobile app for many assets, with the option of keeping keys on a Ledger or Trezor. It is a weaker fit if you need to read the app's source code or know in advance exactly what a swap will cost. On those two points the wallets above it in the ratings disclose more. Download only from exodus.com or the official app stores, because cloned wallet apps are a common route to theft; see our guide to avoiding wallet scams.