Exodus vs Trust Wallet: Which Should You Choose?

Choosing the right wallet to store your coins and tokens is one of the most important decisions to make when starting your crypto adventure. Exodus and Trust Wallet are two of the most popular crypto wallet choices and are both free, reliable options for storing Bitcoin, Ethereum and hundreds of other popular coins.

How Does a Crypto Wallet Work

Wallets act as a gateway between you and your coins. Technically speaking, a wallet contains both a public and private key. Public keys are used to receive your coins, and private keys are used to access your coins. Crypto wallets generate these keys for you and enable you to access, send and receive your assets. Without access to your private key (also known as a seed phrase), no one should be able to gain access to your crypto.

While hardware wallets are the most secure option, they come at a premium and can slow down the selling process if you want to make quick trades. Instead, you may want to look at software wallets (also known as hot wallets) like Exodus.io and Trust Wallet. They are both free, simple to use and available to use on most devices.

Exodus Pros and Cons

Exodus is a free software-based cryptocurrency wallet available on PC, Mac, iOS and Android devices. Among popular wallets on the market, Exodus is one of the simplest to use and is frequently recommended to crypto newcomers.

The app is visually-appealing and its interface makes it easy to monitor your portfolio’s performance.

If you want to operate the same wallet on your PC and mobile, Exodus has a nifty feature that lets you sync your wallets by scanning a QR code.

The Exodus wallet currently supports over 100 crypto assets, with more being rolled out as part of the app’s regular updates, making it a reliable solution to storing crypto assets going forward.

One of the biggest benefits of Exodus is its inbuilt exchange. This allows you to trade between over 100 different digital currencies from within your own wallet. There are fees involved when trading between coins that vary based on the pairing, so make sure to look closely before making any trades.

To help maximise your coins’ profitability, Exodus has built-in staking integration making it easy to earn rewards on coins like Cardano, Cosmos, Tezos and more.

However, the transaction fees for getting tokens off your wallet are expensive when compared to other wallets, with fees also varying significantly between networks. Often Exodus will force you to keep a minimum amount of a coin in your wallet when withdrawing.

For wallet security, Exodus offers password protection on both mobile and desktop. There are no options for two-factor authentication (only a passcode and fingerprint option), so you’ll have to be diligent with your seed phrase and passcode. Exodus also offers 24/7 customer support should you need any assistance.

Pros

• Simple to use
• Great interface
• Staking rewards
• Regular updates
• In-wallet trading
• Available on PC and mobile

Cons

• Price to move crypto off the wallet is high
• No Two-Factor Authentication

Trust Wallet Pros and Cons

Trust Wallet is a free, simple to use and well designed hot wallet for smartphones. While the app is only available on the App Store and Google Play, it meets most requirements of both new and seasoned crypto users. Trust Wallet doesn’t visualise your portfolio’s progress as beautifully as Exodus but you can still see how different tokens have performed on its home page.

One useful feature of Trust Wallet is the ability to contain multiple wallets within the app. This helps you stay organised if you’ve previously scattered your crypto across various wallets.

Like Exodus, Trust Wallet has a simple swap feature where you can trade between different coins and tokens. It even includes an in-depth ‘Exchange’ feature for more advanced orders and exchanges. Trust Wallet also makes it easy for users to stake coins and earn rewards for assets like Binance Coin, Algorand and more. Withdrawing your coins from Trust Wallet comes at a cost, but it’s slightly less than Exodus.

Due to its association with Binance, Trust Wallet boasts over 160,000 different tokens and coins across more than 40 blockchains, making it unlikely you’ll find a cryptocurrency the wallet doesn’t support. It’s important to note that while Trust Wallet is owned by Binance, you don’t need a Binance account to use the wallet.

The wallet gets more complex if you’re interested in DApps (decentralised applications) or DeFi (decentralised finance). Trust Wallet’s in-built DApps browser enables you to make trades and swaps for more niche tokens on platforms like PancakeSwap and UniSwap. The WalletConnect function is also useful if you need to connect your mobile wallet to a PC browser for DAO (decentralised autonomous organisation) integration or other web-based platforms.

Unfortunately, if you are using an iOS device the DApps feature is unavailable due to Apple’s App Store Guidelines. You can learn how to bypass it here, but it is an inconvenience if DApps are something you use.

If NFTs are your cup of tea, Trust Wallet enables storing of both Ethereum-based and Binance Smart Chain NFTs directly on the app.

For wallet security, Trust Wallet forces password protection every time you open the app or try to make a transaction. However, being exclusive to mobile devices makes Trust Wallet inherently more secure than Exodus because PCs are more prone to virus or malware infection than smartphones.

Pros

• Simple to use
• In-app staking
• DApps integration for Android
• NFT compatibility
• Staking rewards
• In-wallet trading

Cons

• Difficult to track portfolio’s performance
• DApps feature disabled for iOS
• No Two-Factor Authentication

Which Wallet Suits You Best?

Exodus and Trust Wallet are among the most popular hot wallets for a reason. Both are simple and versatile for crypto newcomers and seasoned traders alike.

What you should choose depends on how you plan to use your crypto. If you are unsure how you’ll use your crypto or when you’ll sell it, then Exodus is probably the easier place to start.

However, if you intend to use your phone as a wallet, fancy exploring the DApp universe, collecting NFTs, or investing in more obscure tokens, then Trust Wallet could be more suitable.

Finally, if you are holding large quantities of crypto, it would still be worth considering a Ledger or Trezor hardware wallet to reduce security risks.

Comparison Table

	Exodus	Trust Wallet
Cost	Free (costs for withdrawals and swaps)	Free (costs for withdrawal, swaps and exchanges)
Ease-of-use	Very user-friendly	Most features user-friendly
Devices	PC, Android, iOS	Android, iOS (reduced capability)
Interface	Very good	Decent
Staking	In-app staking for: Algorand, Cardano, Cosmos, ONT/ONG, Solana, Tezos, VET/VTHO	In-app staking for: Algorand, Binance Coin, Cosmos, Kava, Terra, Tezos, Tron
DApps integration	No	Yes
In-wallet trading	Yes (swapping)	Yes (swapping and exchange)
NFT compatibility	No	Yes
Security	Passcode and biometric fingerprint protection recommended	Passcode protection mandatory