Exodus vs. MetaMask

In this article, we will compare two popular cryptocurrency wallets — Exodus and MetaMask. Both wallets support over a hundred crypto coins and can be called universal in some way. Both Exodus and MetaMask can be found in numerous lists of recommended or best wallets. On the other hand, both are criticized for these or that shortcomings. We will provide a detailed comparison of these wallets so you will be able to understand if one of them fits your needs better if any.

1. What Is Exodus?
2. What Is MetaMask?
3. Exodus vs MetaMask (table)
4. Exodus vs MetaMask (details)
5. Conclusion

What Is Exodus?

Exodus is a user-friendly hierarchical deterministic (HD) multi-currency crypto wallet. The wallet is available in desktop and mobile versions. Exodus is popular for ease of use and strong support team. The latter is a rarity in a crypto field. On Exodus you can store over 150 different cryptocurrencies. Exodus can be connected to exchanges, DeFi platforms, and Trezor hardware wallet. More than that, Exodus users can earn via staking. Also, Exodus supports token swapping. NFTs are supported, as well.

The wallet is usable as a hot wallet, for small amounts of money and urgent transactions. The reason is an allegedly low level of security. Exodus doesn't support such popular and efficient protection measures as pin code and 2-factor authentication. Nevertheless, the wallet is non-custodial which means that users don’t compromise their private keys to the platform. Another reason why Exodus draws criticism is that the software is not fully open-source. More than that, the wallet doesn't support custom fees on any transactions except Bitcoin and Ether.

What Is MetaMask?

MetaMask is a multi-functional software crypto wallet that supports storing, sending, receiving, and swapping Ethereum-based tokens alongside several popular cryptocurrencies based on other blockchains (e.g. Bitcoin). On MetaMask you store coins based on the following networks: Binance Smart Chain, Avalanche, Fantom, Arbitrum, xDAI, Polygon, Harmony ONE, Cronos, HECO, and Velas. MetaMask has some reservations in terms of security and stability of work, however, many professionals and enthusiasts consider MetaMask to be one of the best and most convenient crypto wallets out there. 

MetaMask is a non-custodial hierarchical-deterministic wallet. It makes this wallet private and safe. Usually, you can see that MetaMask is described as a web3 gateway and key to the Ethereum ecosystem as it easily integrates in Ethereum. It was launched in 2016.

Exodus vs MetaMask (table)

Exodus vs MetaMask (details)

Platforms 

For a long time, Exodus was ahead of MetaMask in terms of diversity of available platforms as MetaMask lacked such a critical product as mobile app. However, in 2020, MetaMask introduced its mobile app for iOS and Android. As of now, MetaMask provides more ways to access its services than Exodus as the latter doesn't offer browser extensions which are a well-known feature of MetaMask.

Types of transactions 

Exodus and MetaMask are quite similar in functionality. They both allow users to perform a large spectrum of actions. You can store coins and NFTs on these wallets, you can send and receive them, you can swap tokens or connect to exchanges and DeFi platforms via these wallets. We can't say that MetaMask or Exodus can be preferred judging by transaction types.

Transaction fees 

Transaction fees on Exodus are limited to miner or network fees which can seem to be great (no additional fees). However, you can't regulate these fees for most currencies (exceptions are Bitcoin and Ether) so you always have to pay the highest fees so your transaction will be fast. Many users hate it and the wallet receives a portion of criticism for this. Fees on MetaMask can be high, too. However, MetaMask is more flexible. It allows users to choose the network with lower fees. In general, both wallets can turn out to be expensive to us but on MetaMask you have more freedom in managing your fees and therefore, you lose less in commissions.

Supported currencies 

MetaMask is good for those who don't care about tokens built on blockchains other than Ethereum. If you want to use other tokens you will probably be disappointed. In this sense, Exodus delivers more diversity and freedom. The amount of coins based on different blockchains supported on Exodus is enough for most crypto enthusiasts.

Custodial? 

Both wallets are non-custodial. It means that these wallets don't have access to users' private keys and other data. All this data is stored locally on user devices.

Hierarchical deterministic (HD)?

Both wallets are hierarchical deterministic. It means that each transaction you make is processed via a new wallet address.

Security features

Both wallets don't do much to secure your funds. It's better to say that they hand these worries to you. MetaMask and Exodus don't have access to user data and keys. You only have such tools as a secret phrase to password to take care of your funds. Using any of these wallets you should beware phishing attacks which are frequent and do all you can to secure your password and backup phrases. The fact that both wallets are HD makes use of these wallets private and hard to track.

Payment methods

By this factor, MetaMask is superior to Exodus. You can top up your balance on Exodus only with cryptocurrencies. On MetaMask, you can use several payment methods including converting fiat money to cryptocurrencies. It gives users much freedom and grants them an opportunity to buy cryptocurrencies for fiat money.

Extra features 

Both wallets are good for actions with NFTs and NFT markets. Exodus provides limited connectivity to FTX exchange and DeFi platforms. MetaMask gives more features for developers. Exodus is good for end users while MetaMask can be good both for users and developers of apps and infrastructures.

Access

Both wallets are available for use in the same countries. We cannot favor one wallet over the other by this factor.