Coinomi vs. Exodus | Which Of These Wallets Fits You The Best?

Coinomi and Exodus have been present on the top wallets lists for years. These brands are well-known and recommended for beginners; these wallets are multi-functional and easy to use. This article reviews the main features and characteristics of these wallets. The main differences and similarities are shown in the table. Read through to see if these wallets meet your needs and which of them is better for you. 

What Is Coinomi?

What Is Exodus?

Coinomi vs. Exodus (table)

Coinomi vs. Exodus (details)

What Is Coinomi?

Coinomi is the oldest multi-chain wallet among industry leaders. It was created in 2014. The company headquarters is in the British Virgin Islands. The CEO is American entrepreneur George Kimionis. The wallet quickly gained popularity. As of 2022, it supports over 1,700 cryptocurrencies based on 125 blockchains. You will have a hard time finding a non-custodian wallet supporting more altcoins. On top of digital assets, Coinomi is capable of operating transactions with 168 fiat currencies. Also, Coinomi supports Seg-Wit.

Thanks to the integration with ShapeShift and Changelly, Coinomi users can effortlessly exchange altcoins within the wallet interface. Another partner providing the service to Coinomi users is Binance DEX. All these partnerships make Coinomi a handy tool not only for storage but also for exchanging money depending on what coin you need at the particular moment. One of the top priorities of Coinomi is the security of assets. The staking platform and dApp browser are also in place. Another vital feature of Coinomi is that it doesn't take commissions on top of miner fees.

What Is Exodus?

Exodus is a multi-currency non-custodial crypto wallet targeted at the newbies audience. The wallet is user-friendly and has an attractive and fun design. It was aimed to make people more confident in their first contact with cryptocurrencies. Exodus was founded in 2015 by JP Richardson and Daniel Castagnoli.

The wallet supports over 200 cryptocurrencies. It can be integrated with hardware wallets (Trezor) for better security. Exodus allows buying digital money with USD, EUR, and GBP. The wallet supports numerous payment methods, including ApplePay, bank card, and wire transfers. The wallet can be used for a token swap via the integrated ShapeShift service. Another important partnership is Changelly, which allows users to exchange cryptocurrencies easily.

As for commissions, Exodus doesn't charge anything on top of miners' fees. However, Exodus sets high miner fees to prioritize transactions of its users. The wallet is backed up with a 12-word seed phrase. Also, Exodus is characterized by a focus on anonymity as Exodus doesn't require personal data when you set the wallet. Considering that the wallet is non-custodial, the main threat comes from phishing attacks and weak passwords.

Coinomi vs. Exodus (table)

Coinomi vs. Exodus (details)

Platforms

Both wallets have desktop and mobile versions (iOS- and Android-based). Exodus added mobile versions not long ago but what really matters is that now both wallets can be used on any device. What's more important is that Exodus can be installed as a browser extension.

Types of transactions

Both wallets are packed with features. Therefore they allow many types of transactions. However, staking available for Coinomi users is not supported by Exodus.

Transaction fees

Both wallets charge only miner fees. The only difference is that Exodus doesn't allow you to regulate the size of commissions, and you won't be able to minimize transaction fees if you use this wallet.

Supported currencies

You won't find a more versatile wallet regarding the number of supported currencies than Coinomi, among the top wallet brands. Coinomi supports eight times as many coins as Exodus. Because Coinomi also supports 168 fiat currencies, it makes the wallet much more convenient than Exodus. 

Security features

Both Exodus and Coinomi are non-custodial HD wallets with solid security features. Exodus has an advantage of the Trezor wallet integrity. Hardware wallets are considered the safest, and Exodus users can secure their funds by buying and connecting a Trezor wallet. Coinomi users can't connect their accounts to hardware wallets.

Payment methods

Thanks to the partnership with Simplex, Coinomi has a large number of supported payment methods. Exodus supports fewer options. 

Extra features

Coinomi supports staking, which is not the case for Exodus users. On the other hand, Exodus has an integrated FTX exchange, a feature not available for Coinomi users. All in all, both wallets are full-packed with features.

Access 

Both wallets are available worldwide and don't require much user data.