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Author Topic: Exodus Wallet - Anyone Use and Trade?  (Read 97 times)
worldtraveller321
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November 21, 2020, 04:43:16 PM
 #1

Anyone here have and use Exodus Wallet?

If so do you also use it to trade crypto?

Would trading crypto there a bad idea? high trade fees?

Thoughts? thanks

worldtraveller
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November 21, 2020, 04:53:53 PM
 #2

If you are doing a spot exchange, from one to another, in my personal experience, the fees taken by exodus are not that bad. Plus it's easy and a lot less hassle to do within the wallet. The comparable services are shapeshift and changelly. The rates on shapeshift have rose sharply and changelly doesn't give you the exact amount as they charge transaction fees separately. The fees on exodus are about 3 to 5%.

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November 21, 2020, 06:10:02 PM
 #3

Exodus, Atomic, Ownr, etc you can use any of these. At least, these are te ones I got my hands on. To me they're pretty much the same, it basically comes down to personal preferences
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November 21, 2020, 11:13:53 PM
 #4

I have ever used it just for storing my crypto assets, never used it to purchase or sell crypto but from what I understand, Most of the wallet I have ever tested use third party platforms such as simplex to trade crypto for fiat so on top of a fee charged by the third party, the wallet will also obviously charge you some fee.

Individually trading on an exchange is a much better option especially in terms of fees. One is less likely to encounter hidden charges and abnormally slippage rates. Though it seems hectic for a newbie, I would encourage people to trade using traditional exchanges and also have a learning experience, after some few trades, it becomes easy as drinking water.

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November 22, 2020, 01:39:13 AM
 #5

I've been using exodus since last year but I think it's better if you are still trading on the centralized exchange site. The fees quite high and the volume could become the main reason too.
that's why I didn't try to use it again and still prefer use CEX to trade crypto.

I can't it would be a bad idea or not coz it depends on you whether you think that the fees that has been charged is quite high or not.

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November 22, 2020, 02:01:11 AM
 #6

One drawback of Exodus wallet is that it is a closed source. Then their conversion from BTC<=>ALT is bad, meaning its more expensive, better to use other crypto exchange, better rates.

And then we have this:


What are you looking for a wallet though? If bitcoin only then Electrum is the best as it is lightweight, https://electrum.org/#home.

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November 22, 2020, 02:07:05 AM
 #7

I'm still using Exodus on iOS. So far so good. It's a simple wallet with a comfortable UI. But I am only using it as a handy wallet where I can keep a little amount of disposable funds.

One thing, though, if you are a cryptocurrency trader, you don't prefer to do your trading there. I don't consider Exodus as a trading platform. It is but a wallet with a built-in exchange function. The exchange feature, however, is not like those which are on real exchange platforms. Exodus' exchange feature is a mere swap function.

You cannot create advance buy and sell orders with Exodus. Moreover, you might end up caught in a much wider spread.

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December 23, 2020, 07:07:03 AM
 #8

I haven't tried it out myself. But have heard that it works great and people have ranked it among the best wallets you could use. So, I would say it is worth a shot.
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December 23, 2020, 09:02:10 AM
 #9

I haven't tried it out myself. But have heard that it works great and people have ranked it among the best wallets you could use. So, I would say it is worth a shot.
For me, it's good as a wallet, not an exchange. It has an integrated exchange just like the other multi-cryptocurrency wallets have.

You can't trade small amounts there because it has a quite high minimum amount for trading. If you haven't tried it out, you should see and try it and compare it to the usual exchanges where we trade. It's much better to go to those than to use this integrated service they have.

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December 23, 2020, 09:12:11 AM
 #10

I have tried exodus wallet last month just because of the airdrop snapshot, I can say that is good for storing your asset but not too good for the trading platform, if you want to buy and sell crypto then better to use a centralized exchange so you may avoid higher transaction fees.  If I were you I will compare this exodus wallet from other exchanges so you are the one who can say if this is good for exchanging crypto.

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December 23, 2020, 01:14:13 PM
 #11

Anyone here have and use Exodus Wallet?

If so do you also use it to trade crypto?

Would trading crypto there a bad idea? high trade fees?

Thoughts? thanks
Not good for trading crypto, there is no way to watch the chart of the coin you are trading, the inbuilt trade is only good for swapping between coins, other crypto wallets also have this function, e.g coinomi wallet and trust wallet, I am not so sure if atomic wallet have such too

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December 23, 2020, 01:35:28 PM
 #12

I have been using this wallet for a while. It's not bad, but I'm using other wallets right now.

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