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Jaxx VS Exodus: The Complete Guide

Welcome to my Jaxx VS Exodus review. In this guide, I’m going to tell you everything you need to know about these two crypto storage options.

We'll talk about their designs, their features, and their user-friendliness. I’ll also tell you which wallet is safer, and which is the cheapest. When you finish reading, you’ll be able to decide who the winner of “Jaxx VS Exodus” is for yourself.

Cryptocurrencies are different from fiat currencies in many ways. They aren’t the official currencies of nations, and they aren’t available as paper notes or metal coins, either.

Cryptocurrencies put their users in control. There are no bank accounts, no credit checks, and no central reserve. There is only the blockchain; a complete and unchanging record of every transaction that’s ever been made.

Main score based on expert evaluations & real user reviews.

Whether the crypto wallet is hardware, software, desktop or paper type.

For which purpose or for what kind of people is the cryptocurrency wallet best for.

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Final crypto wallet evaluation conclusion based on research, expert opinions & user feedback.

EXODUS JAXX

Overall Score

7.2
6.4

Wallet Type

Software Software

Best For

Best for Small Purchases and Day to Day Spending Best for Sending and Receiving a Range of Different Cryptocurrencies

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Verdict

A very beginner-friendly cryptocurrency wallet. A very popular, multiple cryptocurrency-supporting hot wallet.
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Table: The main features of the Jaxx and Exodus wallets

Want to know more about blockchains? Check out my "Blockchain Explained" guide!

In a cash system without banks, users need a safe and reliable way to store information about the currency they hold. This is where cryptocurrency wallets come in. Two of the better-known wallets in the cryptocurrency market are Jaxx and Exodus.

There are better options out there, though. Industry giants such as Ledger Nano X and Trezor Model T will offer their users state-of-the-art security features, in addition to huge a supported asset variety and general user-friendliness.

Before I start talking about Jaxx VS Exodus, I want to have a quick look at what a crypto wallet is and what it does…

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What is a Crypto Wallet?

jaxx vs exodus - crypto wallet

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People talk about storing cryptocurrency in crypto wallets. This isn’t true. Cryptocurrency wallets don’t store cryptocurrency. They store information about cryptocurrency. The cryptocurrency itself only exists on the blockchain.

Crypto wallets store two very important kinds of information. Users need both kinds to send and receive cryptocurrency. They are:

  • Public addresses - digital locations where cryptocurrencies can be sent and received. They’re a bit like crypto email addresses. They can be shared openly with other users of the network. If you want to send cryptocurrency to a friend, they will need to give you a public address where you can send it.
  • Private keys - the personal codes that users need to access public addresses. They’re like the passwords for the crypto email address. You can also think of them as a digital signature. To send and receive cryptocurrency, users need to sign transactions with their private keys to prove that the public address involved belongs to them. Private keys should never be shared with anyone.

If users lose their private keys, they can lose their cryptocurrency forever. This is why it’s so important to choose the right crypto wallet. There are two main kinds of crypto wallets to choose from - software and hardware.

Software VS Hardware Wallets

Software wallets can be downloaded onto desktops or mobile devices. They can also be online wallets installed in your browser or hosted by a crypto exchange. Hardware wallets can be USB-style stick drives or even pieces of paper with codes written on them!

Wallets that are connected to the internet are called hot storage, and those that aren’t are called cold storage. So, paper wallets are cold storage, and browser wallets are hot storage.

Now I want to look at Jaxx VS Exodus. Which wallet is better? I’ll begin by telling you a bit about each, starting with Jaxx.

What is Jaxx?

jaxx vs exodus - Jaxx logo

Jaxx is a software wallet created in 2014 by Anthony Diiorio at a Canadian blockchain developer company called Decentral. Diiorio is also a co-founder of Ethereum, one of the world’s biggest blockchain projects.

The wallet can be downloaded from the Jaxx homepage as a desktop application and works with Windows, Linux, and Apple Mac systems. It can also be downloaded from Google Play and iTunes for use on Android and iOS mobile devices, respectively. Jaxx is available as an online wallet as well and works with Chrome. Their Firefox add-on was discontinued.

By March 2018, Jaxx had been downloaded 1.2 million times. It has a user score of 3 out of 5 from 164 reviews on the comparison site, CryptoCompare.

What about the competition?

What is Exodus?

jaxx vs exodus - Exodus official logo

Exodus was launched on July 29, 2016. Its creators are JP Richardson and Daniel Castagnoli. The Exodus homepage describes them as “two guys with a passion for blockchain assets”.

The Exodus wallet is a desktop wallet designed to be used with Windows, Linux, and Apple Mac systems. Each version can be downloaded directly from the Exodus homepage. It doesn’t currently have mobile or online applications.

Although it’s a much newer wallet than Jaxx, it’s already achieved a user score of 4.2 out of 5 from 396 reviews on CryptoCompare.

Now you know what kind of wallets Jaxx and Exodus are, we can look at Jaxx VS Exodus in more detail. So, which is better? I’ll start by comparing the cryptocurrency services of each wallet and what they charge. Which wallet supports the most coins between Jaxx VS Exodus? And which wallet is the cheapest option? Read on to find out!

Cryptocurrency Storage and Fees

Let’s see how Jaxx VS Exodus compare on coin storage and fees.

Jaxx Wallet Fees and Coin Services

Jaxx offers storage for over 66 cryptocurrencies, including Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Augur (REP), Qtum (QTUM) and Dogecoin (DOGE). Currently, Jaxx does not offer fiat currency storage. However, there's an option to display the balance of your wallet in the fiat currency of your choice (GBP, USD, EUR, etc.). You can find a full list of supported currencies on the Jaxx website.

Jaxx is free to download, but does charge fees for each transaction. However, Jaxx wallet fees don’t go to Jaxx, they go to the network on which the transaction is taking place. For example, if you are sending Ethereum, Jaxx will charge a fee of around 0.000441 ETH, and this amount will be used to make the transaction happen on the Ethereum blockchain. However, the transaction fee isn't static, and might change depending on the network load.

Jaxx users can make transactions at three different speeds - slow, medium, and fast. The slower the transaction speed, the lower the Jaxx wallet fees will be. This is a great feature for users who want to save money, and don’t mind waiting a little longer for their transactions to be completed.

How do the currency services and fees offered by Exodus differ?

Exodus Wallet Fees and Coin Services

Exodus offers storage for 89 cryptocurrencies, including Bitcoin (BTC), Bitcoin Cash (BCH), Dash (DASH), Ethereum (ETH), Zcash (ZEC), 0x (ZRX), Aragon (ANT), Augur (REP) and OmiseGo (OMG). The wallet only shows user balances in US dollars, and doesn’t offer fiat currency storage. 

Exodus is free to download, but only offers one transaction speed. This means that users have less control over the fees they pay. YouTube vlogger RvMajor, found that Exodus wallet fees were about 5-10% higher than Jaxx wallet fees for like-for-like transactions.

So, Exodus offers storage for more cryptocurrencies, but Jaxx offers a better choice of balance display and transaction speed. Jaxx is a slightly cheaper service, and Exodus wallet fees are less flexible. That said, do keep in mind that wallets such as the Ledger Nano X support many more crypto assets, if that's a major criterion for you!

Next, let’s look at some of the other features Jaxx and Exodus offer.

Built-In Features

Both wallets offer ShapeShift as a built-in feature. ShapeShift is a crypto exchange that is built into multiple wallets, so users can exchange coins without needing to visit an exchange like Kraken or Binance. Exodus was the first wallet to offer Shapeshift exchange services, and others - including Jaxx - have followed.

It can be argued that Jaxx offers a wider selection of built-in features. As well as offering services on desktop, mobile, and the web, it also has a native camera function that allows users to scan QR codes from paper wallets with their mobile devices.

Most crypto experts recommend storing private keys on a selection of software and hardware wallets. The fact that Jaxx is compatible with both makes it appealing to a lot of users.

The main advantages of a certain cryptocurrency wallet.

The main disadvantages of a certain cryptocurrency wallet.

Score that represents the ratio of the quality & advantages you get for a certain price.

EXODUS JAXX

Pros

  • Easy to use
  • Has customer support
  • Multiple cryptocurrency choices
  • A software-based wallet
  • Built-in exchange features
  • Supports 90+ different cryptocurrencies
  • Easy to use
  • Built-in exchange
  • Cross-platform pairing
  • Free to use

Cons

  • Prone to security issues
  • The fees can reportedly be quite high
  • Some security concerns

Value For Money

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Table: The pros and cons of the Jaxx and Exodus wallets

However, some users have suggested that the wallet’s advanced features make it slow and laggy. This is a problem that Exodus doesn’t have. Its simple desktop service isn’t slowed down by any additional extras.

For more advanced users, Jaxx might have a better choice of features, but Exodus is more reliable in the way it delivers the services it offers. Both offer ShapeShift, which puts them ahead of wallets that don’t, so we’ll call this round of Jaxx VS Exodus a tie.

Next, I want to find out how well each wallet is designed. This should tell us which wallet is the easiest to use between Jaxx VS Exodus.

Design and User-Friendliness

One of the biggest complaints newbies have about crypto wallets is that they are too complicated and difficult to use. Two areas where crypto products need to improve are design and user-friendliness.  Here’s how Exodus VS Jaxx compare:

Jaxx Design

jaxx vs exodus - Jaxx design

Jaxx has a clean and simple design. All its main features are labeled and have a “useful tip” attached to guide users on how they work. Private keys are easily accessible, and transaction information is displayed very clearly to prevent confusion.

Simple Send and Receive screens make those first transactions as painless for beginners as possible! One small criticism some users have of the wallet is that technical information, like public addresses, is shown in a font size that can be difficult to read.

Jaxx has a professional design and newbie-friendly layout - what about Exodus?

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Exodus Design

jaxx vs exodus - Exodus portfolio

Exodus is not only one of the best-designed wallets on the market, but it’s also probably one of the best-designed products in cryptocurrency. Users will find the wallet beautifully laid out with a simplicity you won’t find in most other wallets. The wallet has three main sections; WalletExchange and Portfolio, and transactions are divided into SentReceived and Exchange.

Exodus is a stress-free wallet for beginners to start using crypto. The wallet’s homepage proudly states that it was, “Crafted with love by JP and Daniel”, and it shows!

There’s only one winner in this round of Jaxx VS Exodus. Exodus should be used as a blueprint for how other crypto platforms are designed in the future. Bravo, Exodus!

The next topic I want to talk about is security. How secure is Jaxx, and is the Exodus wallet safe?

Security

When comparing Exodus VS Jaxx on their safety, you’ll find that both wallets share features, but also differ in some important ways. Let’s see which wallet has better security.

Is Jaxx Wallet Safe?

The Jaxx wallet stores private keys directly onto the user’s device. This means that no one has access to the private keys but the user. The wallet is also hierarchical deterministic (HD), which means it generates a new address every time you send / receive funds to / from your current wallet address as a way of keeping your balance private.

The total amount of coins / tokens in the address(es) that the transaction is sending from gets sent. The amount specified goes to the specified address, and the remaining balance goes to the new address that is attached to the other addresses and, of course, the mnemonic 12-word seed.

Imagine you have 4 bills. 1 twenty dollar bill, 1 ten, and 2 fives. Now the each bill represents an address. Now you want to buy a nice sweater for $37 including tax. So you give the cashier the all your money and they give you back 3 dollars which you put into a new wallet.This is the way HD works. You would then have 4 inputs and 2 outputs. 4 bills for each input and 2 outputs being one is the $3 dollars back to you and the $37 to the store.

By using the mnemonic 12-word backup phrase, it is possible to regain access to your funds even if you lose the device that your wallet is on. That is why it's extremely important to write down your 12-word backup phrase outside of the device and keep it safe. Make sure that nobody has access to your 12-word backup phrase apart from yourself!

This being said, Jaxx has had several bugs in the past, which have been used by hackers to steal funds. In early 2017, $400,000 worth of coins were stolen from Jaxx wallets. However, it’s not known whether the wallet or user error were to blame. Bugs are sometimes detected in the Jaxx software, but they are usually fixed quickly by the Jaxx team.

The early 2017 hack  has been addressed by the Chief Technology Officer of Jaxx, Nilang Vyason. Here's a link to his Reddit post.

One feature Jaxx doesn’t have is two-factor authentication. This is a system where a user needs two kinds of passwords to access their account. The first is usually a standard password, and the second is a code sent to the user’s mobile phone or authentication app when they sign in. The lack of this basic security feature will concern some users.

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Main Features
  • Over 500 different cryptocurrencies available
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Pros
  • Secure and reliable
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Main Features
  • Reputable exchange
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Is Exodus Wallet Safe?

Exodus also fails to offer its users two-factor authentication. The reasons for this are unclear, but it’s a feature that most users will expect to see in the future. Exodus relies heavily on the user’s email address for its main safety feature, which is a one-click account recovery. A link is sent to the user’s email address when account access is lost.

This means that users need to be confident that the device they’re using is free from bugs and viruses. Losing access to an email account could mean losing access to the Exodus wallet. However, Exodus does offer hierarchical deterministic account recovery, as well.

HD tech may not be able to protect user accounts completely, though. In March 2018, the team at CryptoCoreMedia was able to gain access to an Exodus user’s 12-word backup phrase by using a simple piece of computer code.

This round is a tie again. No wallet is 100% hack-proof, but the development teams at Jaxx and Exodus both work hard to improve user safety. They do this with regular updates to features and services. They also offer support to users directly. But who offers the best customer support out of Jaxx VS Exodus?

Note: If you're serious about keeping your crypto safe, there's no better option than a hardware wallet. Ledger and Trezor are two leaders in this space.

Customer Support

Fortunately, Jaxx and Exodus both have good relationships with their users. Neither wallet is fully open-source, but both make a big effort to show their customers how their companies operate.

Both wallets publish blogs on their websites, with Jaxx providing especially detailed descriptions of problems it’s having, and solutions it’s using to solve them. Jaxx and Exodus post regular updates and warnings about scams and risks to their followers on Twitter.

Complaints and queries can be made by email, and both teams have good reputations for responding quickly. Exodus’ JP Richardson and Daniel Castagnoli also talk to their users directly on Slack.

Jaxx and Exodus are helping to change the way people think about cryptocurrencies.  Along with other professional crypto platforms - like Binance and Kraken - Jaxx and Exodus are providing services that customers can trust. So, Jaxx VS Exodus? Not this time! Everyone’s a winner in this round!

That’s almost it for my Exodus VS Jaxx review. Before you make your final decision about which wallet you think is best, let’s take a look back at the most important features of both. What better way to do that than with a Jaxx VS Exodus comparison chart?

Comparison Chart

 

Jaxx Exodus
Desktop Yes Yes
Mobile  Yes No
Web  Yes No
Multi-currency  Yes (60+) Yes (80+)
Fees  Low Medium
Beginner Friendly  Yes Yes
Hierarchical Deterministic  Yes Yes
Two-Factor Authentication  No No
Overall Security  Good Good
Customer Support  Excellent Excellent

Conclusion

In this Exodus VS Jaxx review, I’ve answered some important questions like, is Exodus wallet safe? And how are Jaxx wallet fees decided? The one question I haven’t answered though is, which wallet is better?

Well, the real winner in the contest between Jaxx VS Exodus is the crypto community. The people who have been supporting cryptocurrencies since the beginning are finally being rewarded with top-quality services. Jaxx and Exodus are both highly-professional apps that treat their customers with respect.

Overall level of security & safety of your assests offered by a certain crypto wallet.

Whether the crypto wallet requires two-factor authentication as an extra layer of security when completing an action.

Whether the crypto wallet requires multiple keys to authorize a transaction as an extra layer of security.

Whether the crypto wallet requires a Pin code as an extra layer of security when completing an action.

The general anonimity level of your data.

What kind of methods of recovering your cryptocurrency assets in case you lose your wallet or forget your primary password does the wallet offer.

Who owns your private keys.

The level of control you have on the crypto wallet.

EXODUS JAXX

Security Level

|
|
|
|
|
Very Poor
Average
Excellent
|
|
|
|
|
Very Poor
Average
Excellent

2FA Two-factor Authentification

Multi-signature

Pin Code

Anonimity Level

|
|
|
|
|
Very Poor
Average
Excellent
|
|
|
|
|
Very Poor
Average
Excellent

Backup Type

12-word Seed Phrase 12-word Seed Phrase

Private Key Owner

You You

Full Wallet Control

|
|
|
|
|
No
Partial
Yes
|
|
|
|
|
No
Partial
Yes
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Table: The security features of the Jaxx and Exodus wallets

Jaxx and Exodus are both newbies friendly, but are also advanced enough for crypto nerds to enjoy! If developers keep producing products like these, then the future of crypto could be very exciting for all of us. The best thing is, you don’t have to choose between Jaxx and Exodus - you can use them both!

Alternative options, however, will include hardware wallets (Ledger, Trezor), as well as exchange-based wallets (such as that of Binance).

So, what do you think? Is there anything I forgot to mention? Have your say, and let me know what you think!

About Article's Experts & Analysts

By Aaron S.

Editor-In-Chief

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era. W...
Aaron S., Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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FAQ

Which wallet in the Jaxx VS Exodus comparison is better?

Both Jaxx and Exodus are two high-tier cryptocurrency wallets. Both are hot wallets, which means that they retain a connection to the internet at all times. The actual better option will depend on your preferences, as well as priorities (user-friendliness, asset support, etc.). However, if you're looking for the most-secure wallet out there, you should check out hardware crypto wallets.

Are Jaxx and Exodus software wallets?

Yes - both Jaxx and Exodus are software-based wallets. Meaning, you can download both pieces of software to your computer (Windows, macOS, Linux), and install them, same as any other computer program. While this isn't the safest type of a crypto wallet (that would be a hardware device), it's still very convenient and simple to use.

How to pick the best crypto exchange for yourself?

Picking out the best crypto exchange for yourself, you should always focus on maintaining a balance between the essential features that all top crypto exchanges should have, and those that are important to you, personally. For example, all of the best exchanges should possess top-tier security features, but if you're looking to trade only the main cryptocurrencies, you probably don't really care too much about the variety of coins available on the exchange. It's all a case-by-case scenario!

Which cryptocurrency exchange is best for beginners?

Reading through various best crypto exchange reviews online, you're bound to notice that one of the things that most of these exchanges have in common is that they are very simple to use. While some are more straightforward and beginner-friendly than others, you shouldn't encounter any difficulties with either of the top-rated exchanges. That said, many users believe that KuCoin is one of the simpler exchanges on the current market.

What is the difference between a crypto exchange and a brokerage?

In layman's terms, a cryptocurrency exchange is a place where you meet and exchange cryptocurrencies with another person. The exchange platform (i.e. Binance) acts as a middleman - it connects you (your offer or request) with that other person (the seller or the buyer). With a brokerage, however, there is no “other person” - you come and exchange your crypto coins or fiat money with the platform in question, without the interference of any third party. When considering cryptocurrency exchange rankings, though, both of these types of businesses (exchanges and brokerages) are usually just thrown under the umbrella term - exchange. This is done for the sake of simplicity.

Are all the top cryptocurrency exchanges based in the United States?

No, definitely not! While some of the top cryptocurrency exchanges are, indeed, based in the United States (i.e. KuCoin or Kraken), there are other very well-known industry leaders that are located all over the world. For example, Binance is based in Tokyo, Japan, while Bittrex is located in Liechtenstein. While there are many reasons for why an exchange would prefer to be based in one location over another, most of them boil down to business intricacies, and usually have no effect on the user of the platform.

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