Jaxx vs Exodus | Exchange Comparison Review For 2021
Table of Contents
- Jaxx vs Exodus: Main Differences
- Jaxx Wallet
- Exodus Wallet
- Supported Operating Systems
- Exodus vs Jaxx
- Jaxx Transaction Fees
- Exodus Transaction Fees
- What Coins Does Jaxx Support
- How to Use Jaxx Wallet
- How to Use Exodus Wallet
- Exodus vs Jaxx Security
Crypto continues to take over the world of finances. Every year the number of crypto coins and tokens continues to grow and so do desktop wallets and mobile apps. With these growing numbers, it can be extremely difficult for users to pick a side when it comes to crypto wallets. Because there’s a wide range of wallets in the market and users only get confused by this overwhelming selection.
Since the internet is crawling with hackers and criminals, it’s extremely important to make the right choice and pick the most secure crypto wallet. In addition to security, the perfect crypto wallet should be user-friendly and versatile. For an in-depth comparison review, we’ve selected the top names among crypto wallets, Jaxx and Exodus. We’re here to tackle all the questions users may have regarding these two wallets.
Without further ado, let’s get started with the ultimate Jaxx vs Exodus comparison of leading crypto exchange wallets.
Jaxx vs Exodus: Main Differences
Both wallets have their benefits and distinctive features which we’re going to discuss in detail. Among all the similarities and variances, there’s one main difference that sets Jaxx and Exodus apart. It’s that the latter one has a hardware wallet and two-factor authentication. The existence of a hardware wallet and 2FA makes Exodus the more secure option. Unfortunately, Jaxx doesn’t support these features yet.
Both wallets are available for mobile and desktop and only Jaxx has a Chrome Extension.
The next difference for Exodus wallet vs Jaxx, is in the number of crypto assets wallets support. The Jaxx wallet supports more than 80 cryptocurrencies, while the Exodus wallet supports more than 130 cryptocurrencies.
The wallets have different speeds of transactions. Exodus offers only one speed of transactions, while Jaxx has three speeds of transactions: slow, medium and fast. The transaction fees are also different depending on the speeds of transactions as well as market changes.
Jaxx Wallet
Jaxx, aka Jaxx Liberty, is a popular software wallet created back in 2014 by one of the co-founders of Etherium Anthony Diiorio. The wallet is available from desktop, mobile and has a Chrome extension. It’s supported by Windows, Linux, Mac OS, Android and IOS.
Jaxx, aka Jaxx Liberty, is a popular software wallet created back in 2014 by one of the co-founders of Etherium Anthony Diiorio. The wallet is available from desktop, mobile and has a Chrome extension. It’s supported by Windows, Linux, Mac OS, Android and IOS.
Exodus Wallet
Exodus is also a well-known crypto wallet, founded by JP Richardson and Daniel Castagnoli in 2016, a little later than Jaxx. Just like its competitor, Exodus supports Windows, Linux, Mac OS, Android and IOS with only one extra advantage, it’s available for Trezor hardware as well.
What quickly stands out in the Exodus wallet is its sleek design and user-friendly interface.
Supported Operating Systems
Both wallets have a desktop as well as mobile versions. As for the operating systems, they both support Windows, Mac OS, Linux, IOS and Android. The only difference, as already mentioned above, is that Exodus supports Trezor hardware. Both Exodus and Jaxx apps are free to download and set up.
Exodus vs Jaxx Fees
Now that we know the main differences between Jaxx and Exodus it’s time to compare their fees. Both apps are completely free to download while their transaction fees vary. Let’s compare Jaxx vs Exodus fees by taking each wallet separately and exploring its fees.
Jaxx Transaction Fees
Jaxx charges for blockchain transactions and fees vary depending on the speed of the transaction. You can choose from three options, which are slow, medium and fast. Jaxx fees vary from low to high in correspondence with speed. So if you want to save on transaction fees, pick the slow options. However, if you need to close the deal quickly you need to pay more. Jaxx wallet fees for transactions are meant for the miners so Jaxx doesn’t have profit from transactions, only from exchanges through Shapeshift.
Exodus Transaction Fees
Unlike Jaxx, Exodus offers only one speed of transaction, meaning users lack a choice. There is no specific rate per transaction and the fees may vary from coin to coin. But according to various sources, the Exodus transaction fees range from 2 to 4 percent that makes up a small part of the spread on asset exchanges. The fee of the spread can vary greatly depending on the current situation of the market that tends to change pretty fast. Just like in the case of Jaxx, the transaction fees go straight to the miners and Exodus profits only from exchanges through third-party API.
What Coins Does Jaxx Support
Jaxx being a multi-currency wallet supports more than 80 cryptocurrencies. Among the currencies Jaxx supports are:
How to Use Jaxx Wallet
Setting up and using a Jaxx wallet is as easy as ABC, hence beginners will find it pretty simple to create a wallet. Before you start transferring cryptocurrencies via Jaxx, you first need to set up your wallet which you can do once you download it.
Using the Jaxx wallet you can exchange crypto assets, send and receive funds.
1.Sending Funds Via Jaxx
To send funds using your Jaxx wallet, you need to follow these simple steps:
- Open your wallet, pick a currency you want to send and click on the ‘send’ button.
- This action will open a special box where you need to type in the address of the wallet that you’re sending funds to.
- Lastly, you need to add the number of coins you want to transfer and click send.
2. Receiving Funds Via Jaxx
As for receiving funds, the process is as follows:
- Pick a currency that you want to receive and click the ‘receive’ button.
- Next, type in the number of coins you’re going to receive and click the ‘generate’ button.
- The wallet will generate a unique address and a barcode which you need to give to the sender so they can see what cryptocurrency and how many coins they need to send you.
- Once you receive your funds you can do whatever you want, even turn them into cash.
3. Exchanging Crypto Assets Via Jaxx
With Jaxx, you can exchange one cryptocurrency for another within your wallet. It has a built-in third-party API, ShapeShift, a service for exchanging cryptocurrencies. Hence, with just a few clicks, you can trade crypto directly from your wallet without using another exchange service.
How to Use Exodus Wallet
Just like the Jaxx wallet, Exodus offers exchanging of crypto assets, sending and receiving funds within the wallet. The process is almost identical to the previous wallet.
1.Sending Funds Via Exodus
Send funds using your Exodus wallet with these simple actions:
- Open your Exodus wallet and click on the wallet icon.
- Pick the crypto you want to send and click on the ‘send’ button.
- Next, paste or type in the address you want to send the cryptocurrency to or scan the QR code of the recipient.
- You can even add a personal message to the transaction to make it easier for the recipient and you to recall the transaction.
- Then type in the amount you want to transfer and click send.
2. Receiving Funds Via Exodus
With these simple steps, you can receive funds to your Exodus wallet.
- Open your Exodus wallet and click on the wallet icon.
- Pick the crypto you want to receive and click on the ‘receive’ button.
- Then, the system will provide you with a personal address or a QR code for that exact crypto asset.
- Copy or share the address with the person who wants to send you funds and that’s it.
3. Exchanging Crypto Assets Via Exodus
Exodus has the same ShapeShift API that Jaxx has to perform the exchange of crypto assets. A simple crypto transaction process via Exodus is as follow:
- Open your Exodus wallet and click on the exchange icon.
- Select an asset you want to exchange and then select the asset you want to receive.
- Next, type in the amount you want to exchange. (You need to type in an amount over the minimum exchange limit)
- Lastly, click on the ‘exchange’ button to complete the transaction.
Exodus vs Jaxx Security
Lastly, let’s compare the security of the two most popular crypto wallets nowadays. Both Jaxx and Exodus follow strict security metrics by prioritizing their users’ privacy and security.
Right from the start when you download both of the apps you are given a randomly generated phrase that will serve as the recovery code for your wallet. This is a long phrase consisting of twelve completely random sets of words that no one can guess. For your security, never save that phrase digitally in your notes or as a screenshot because digital files are never secure. To make sure your security phrase is safe, write it down on a piece of paper in multiple copies and store them in random locations. Just make sure not to forget where you hid them. This way your wallet will be secure and no one will have access to it except for you.
Developers at Exodus went the extra mile to reinforce the security of their wallets. Technically secure-wise, Exodus wins over Jaxx, since it works with Trezor hardware. Wallets that support hardware are known as one of the most secure wallets. With a hardware wallet, no transaction can be completed without a physical touch of a keyboard. Therefore, even if a hacker will have access to your computer and wallet they won’t be able to make any transactions. Jaxx wallet doesn’t have this feature yet, but they are planning to integrate it in the near future.
In addition to all this, Exodus offers 2 Factor Authentication which again adds to the wallet’s security. Jaxx still doesn’t have this feature.
Let’s wrap this up! After the comparison of Jaxx and Exodus wallets, there’s a lot of information to digest. Arguably both wallets have plenty of advantages and top-notch features and it’s no surprise that they’re the best ones in the market. Yet the choice is still up to you. It’s time to consider all the benefits and drawbacks each wallet has and make the right decision. Hopefully, this article answers your questions and eases your choice.
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