Exodus: software wallets rating breakdown
A polished, genuinely popular wallet — and the least transparent on economics of anything here, which is what lands it last rather than any single flaw.
A polished, genuinely popular wallet — and the least transparent on economics of anything here, which is what lands it last rather than any single flaw.
How the score is built
Each criterion is scored 0–10 and weighted. The median column is the middle score across every entry in this ranking, so a row reads as a position rather than a number.
| Criterion | What we measured | Weight | Score | Category median | Rank | Weighted gap |
|---|---|---|---|---|---|---|
| Security model and open code | — | 30% | 2 | 8 | 15 of 17 | -1.80 |
| Privacy | — | 20% | 2 | 5 | 16 of 17 | -0.60 |
| Transaction transparency | — | 15% | 3 | 5 | 17 of 17 | -0.30 |
| Swap cost | — | 15% | 1 | 5 | 17 of 17 | -0.60 |
| Recovery and portability | — | 10% | 9 | 9 | 1 of 17 | 0.00 |
| Networks | — | 10% | 9 | 7 | 1 of 17 | +0.20 |
Measured 14 July 2026 · weights and method · decided by security model and open code, worth -1.80 points against the median
Security model and open code: 2/10
Non-custodial, MPC or custodial — and where the key actually sits on your device. Then the licence, as it stands today rather than as folklore remembers it: several well-known wallets have quietly moved to source-available terms that are not open source. Audits count only when the firm is named and the report is public.
Scored 2 of 10 against a category median of 8, which places it 15th of 17 among software wallets on this criterion. At a 30% weight that is 1.80 points below the median contribution of the weighted total. The best score in the category is 10, the worst 2.
Privacy: 2/10
The most underrated question in this category: which RPC endpoint does the wallet talk to out of the box, and who owns it? If the default RPC is operated by the wallet’s own vendor, that vendor sees the IP address behind every balance check and every transaction, and can link it to your addresses. We read the default configuration and the privacy policy, and we quote the clause. Can you point it at your own node, and how hard is it?
Scored 2 of 10 against a category median of 5, which places it 16th of 17 among software wallets on this criterion. At a 20% weight that is 0.60 points below the median contribution of the weighted total. The best score in the category is 10, the worst 2.
Transaction transparency: 3/10
Does the wallet simulate the transaction and show you the actual outcome before you sign it, and does it warn you about known drainer contracts? The same question as clear signing on a hardware device, asked of software.
Scored 3 of 10 against a category median of 5, which places it 17th of 17 among software wallets on this criterion. At a 15% weight that is 0.30 points below the median contribution of the weighted total. The best score in the category is 10, the worst 3.
Swap cost: 1/10
The built-in swap is how most free wallets are paid. We record the published service fee — and when a wallet does not publish one at all while still taking a cut of the spread, that silence is the finding and it is scored as one.
Scored 1 of 10 against a category median of 5, which places it 17th of 17 among software wallets on this criterion. At a 15% weight that is 0.60 points below the median contribution of the weighted total. The best score in the category is 10, the worst 1.
Recovery and portability: 9/10
Standard BIP39, and whether the seed restores in another wallet. A wallet you cannot leave is a custodian with extra steps.
Scored 9 of 10 against a category median of 9, which places it 1st of 17 among software wallets on this criterion. At a 10% weight that is exactly level with the median of the weighted total. The best score in the category is 9, the worst 3.
Networks: 9/10
Which chains genuinely work, from the wallet’s own documentation.
Scored 9 of 10 against a category median of 7, which places it 1st of 17 among software wallets on this criterion. At a 10% weight that is 0.20 points above the median contribution of the weighted total. The best score in the category is 9, the worst 2.
Other measurements
- custom node
- no SOURCED
- third-party audit
- not published SOURCED
Its nearest neighbours in this ranking
| # | Entry | Security model and open code | How it differs |
|---|---|---|---|
| 15 | Coinbase Wallet (Base App) | 2 | Level on security model and open code; the gap is elsewhere. |
| 16 | Argent (now "Ready") | 5 | Ahead by 3 on security model and open code. |
Questions about this score
How much does Exodus charge for swaps?
+
That is precisely the problem: the cost of its built-in exchange is not disclosed with the clarity other wallets in this rating manage, and it is built into the rate rather than shown as a fee. If you use it, compare the quoted amount against the market rate for the same conversion before confirming.
Is Exodus a bad wallet?
+
No — it is a well-made piece of software with a good interface, and it is last here on disclosure rather than on defects. Every wallet in this category has to make money somewhere; the ones above it tell you where.