Exodus vs Coinbase: Which one should you use?

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It is any kind of currency in digital or virtual form, which means that it does not exist in the physical world. All digital money “lives” only in the network space. It is important to note that they are not backed by anything.

Cryptocurrency has already become a full-fledged part of the new financial world, attracting not only numerous private investors but also large businesses. The rules of the game in this rapidly growing market are becoming clearer every year, and the processes are becoming more transparent. But the volatility and specific risks associated with digital assets have not disappeared, and in order to make money in this market, you need to learn all of its features. Let’s try to understand what cryptocurrency is and how to work with it.

Digital coins can be used to pay for goods and services if the manufacturer accepts crypto. But most people invest in crypto as they would in stocks or precious metals.

Exodus vs Coinbase are two of the most popular cryptocurrency wallets on the market. Both wallets allow users to store, send and receive cryptocurrencies, but they differ in several important aspects such as features, security, fees, reputation, and usability. In this comparison, we will look at Coinbase Wallet vs Exodus based on these criteria.

Exodus vs Coinbase: Features

Coinbase Wallet is a mobile cryptocurrency wallet that allows users to store, send and receive various cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and many others. The wallet provides a user-friendly interface that makes it easy for users to manage their cryptocurrencies and also supports decentralized applications (dApps) on the Ethereum blockchain.

Exodus, on the other hand, is a desktop cryptocurrency wallet that supports a wide range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and many others. The wallet also allows users to exchange cryptocurrencies using the built-in exchange function and supports dApps on the Ethereum blockchain.

The following features are to be discussed:

  • Security.

Security is a critical factor when it comes to cryptocurrency wallets, and both Coinbase vs Exodus wallets take security seriously. Coinbase Wallet stores user funds on the device itself and uses advanced security measures, such as biometric authentication and passphrase backups, to keep user funds secure.

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Exodus also takes security seriously and stores user funds on the device itself. The wallet uses patented backup technology that allows users to easily back up their private keys and restore funds if the device is lost or stolen.

  • Commissions.

Commissions are another important factor to consider when choosing a cryptocurrency wallet. Coinbase Wallet does not charge for storing or sending cryptocurrencies, but users may face network commissions when sending transactions.

Exodus, on the other hand, charges a small fee for exchanging cryptocurrencies within the wallet but does not charge for storing or sending cryptocurrencies. The wallet also uses a dynamic commission system, which ensures that users pay the lowest possible fees for their transactions.

  • Reputation.

Both Coinbase Wallet and Exodus have relatively good reputations in the cryptocurrency community. Coinbase Wallet is backed by Coinbase, one of the largest and most respected cryptocurrency exchanges in the world, and has received positive reviews for its user-friendly interface and advanced security features.

Coinbase Wallet: Jump start your crypto portfolio

Exodus has also received positive reviews for its user-friendly interface and advanced security features. The wallet has been praised for its support of a wide range of cryptocurrencies and its built-in exchange function.

What is Exodus Wallet?

Exodus is probably the most beautiful software wallet on the market. It is not only one of the oldest software wallets but also a pioneer in terms of user-friendliness and design. The wallet offers many useful features, such as an integrated trading function and compatibility with the  

Exodus: Pros & Cons

ProsCons
Beautiful designNot open source
Very easy to useSlightly higher merchant fees
Browser extension
Compatible with Trezor hardware wallets
Good customer support

What is Coinbase?

Coinbase Wallet is the official wallet of the crypto exchange “Coinbase” and is one of the leading apps for cryptocurrency custody and trading. The popular wallet is very intuitive to use and offers many additional features, such as a handy browser extension for accessing Web3 applications.

Coinbase: Pros & Cons

ProsCons
Very easy to usePoor customer support
Clearly arranged appNo desktop app
Browser extension
Integrated DApp browser
Optional link with Coinbase

Exodus vs Coinbase: Currencies

Both platforms provide access to well-known coins such as:

  • Litecoin (LTC).
  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ethereum Classic (ETC).
  • Stellar (XLM)
  • Loom Network (LOOM)
  • Graph (GRT)
  • Aave (AAVE)
  • Dogecoin (DOGE)
  • Polkadot (DOT)
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Each exchange also supports stable coins like Tether (USDT) and USD Coin (USDC). However, the platforms have slightly different features – if you are looking for specific coins, you will find several offerings on each exchange that are not available on the other platform. 

Exodus vs Coinbase: Fees

Exodus does not charge any fees for sending or receiving cryptocurrency. It also does not withhold any withdrawal fees. Transaction fees on Exodus go to the network, so more crowded and busy networks may charge higher fees. The amount of the transaction also depends on the number of previously registered deposits.

Coinbase does not publish many of its fees online. It says the fees will be calculated and shown at the time of the transaction.

Cryptocurrency purchases, as well as various payment and funding methods, are subject to fees. 

Exodus vs Coinbase: Customer Support

On the one hand, choosing the right wallet among so many available solutions is not an easy task. On the other hand, you can try several options – and choose the one that suits you best.

Customer support for both of these wallets is excellent. So you can easily contact them at any time. 

Exodus vs Coinbase: Reputation and Trust

Both Coinbase wallet vs Exodus wallet are very secure.

Coinbase is the custodian of your web wallet, so it stores your private keys. The private keys are on your device if you choose a separate wallet and are the custodian.

In contrast, Exodus provides a cryptocurrency platform for P2P transactions. Users retain full control over their funds. You have a great responsibility to keep your computer or mobile device, hot wallet, and cold wallet secure. Exodus Wallet is a non-storage wallet where users retain ownership of their private keys.

Exodus vs Coinbase: User Experience

Coinbase offers a user-friendly platform accessible through a web browser or mobile app. Traders can exchange various fiat funds using several different methods and then buy or sell on the exchange. 

Exodus users must download a desktop or mobile app to get started and create a program wallet. Exodus is easy to use, but absolute newcomers to cryptocurrencies or those with a poor understanding of technology will find it a bit difficult to learn. It is definitely more difficult to use than Coinbase. 

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Exodus vs Coinbase: Mobile App

Both the Exodus wallet app vs Coinbase pro app offers mobile apps, but the former also works through a web browser. Exodus users must download a desktop or mobile app to access the service. Its apps and wallets work on Android and iOS devices. The Exodus desktop app also works on Linux, Windows, and Mac computers. 

Both companies’ mobile apps are user-friendly. But the Exodus apps also integrate with Trezor hardware wallets, giving users extra control over their crypto assets.

xodus Wallet vs Coinbase are two of the most popular cryptocurrency wallets on the market. Both wallets allow users to store, send and receive cryptocurrencies, but they differ in several important aspects such as features, security, fees, reputation, and usability.
Exodus Wallet: Multichain Web3 Wallet

Exodus vs Coinbase: Deposit and withdrawal methods

Exodus does not accept fiat money. This is the biggest practical difference between the platforms. You need to own the cryptocurrency and transfer it to your Exodus wallet to start trading, while Coinbase will sell you the cryptocurrency – for a certain price. You can use a standard bank transfer and debit/credit card or Paypal payment to fund your Coinbase account, but fees are quite high when you first buy cryptocurrency. 

Coinbase supports fiat withdrawals, while Exodus does not. You will pay a service fee of about 1.9% to withdraw your fiat funds from Coinbase to a regular bank account. The only way to withdraw your assets from the Exodus platform is to transfer them to an external wallet address. 

Exodus notes that it does not charge any fees for either deposits or withdrawals. You only pay the standard network fee. It’s wise to compare how much the network fee is at the time of transfer and choose the cheapest option.

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Conclusion

Both Exodus vs Coinbase wallets are reputable cryptocurrency wallets that offer a number of features and benefits. Coinbase Wallet is a mobile wallet that offers a user-friendly interface and advanced security features. The wallet is supported by Coinbase, one of the largest and most reputable cryptocurrency exchanges in the world.

Exodus, on the other hand, is a desktop wallet that offers a user-friendly interface and advanced security features. The wallet supports a wide range of cryptocurrencies and offers a built-in exchange function.

Overall, both Exodus Wallet & Woinbase Wallet are good choices for cryptocurrency users looking for a safe and convenient way to store, send and receive cryptocurrencies. The choice between the two wallets depends on the preferences of the individual user, such as whether they prefer a mobile or desktop wallet, built-in exchange functionality, or dApps support.

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