Exodus along with Coinbase are two significant cryptocurrency companies offering crypto exchanges and cryptocurrency wallets and other services that are beneficial to cryptocurrency buyers, sellers' holders, collectors, and other enthusiasts. Coinbase is a massive central exchange that functions like a stockbroker, which facilitates the sale and purchase of cryptocurrencies that are supported. Exodus is an exchange decentralized that allows buyers and sellers to trade directly through the cryptocurrency networks. Both have pros and cons for each approach. Read on to find out more about Exodus vs. Coinbase, ease of access, costs, and which one could be the most appropriate to meet your goals in cryptocurrency.
Exodus vs. Coinbase: Features
We've selected the essential features for everyday use, such as security, user-friendly, and compatibility. Some features perform the same purpose but employ different methods of execution. For instance, Exodus swaps tokens across the peer-to-peer network. Coinbase provides market makers that have huge liquidity that will allow you to (almost) always trade your cryptocurrency. It is possible that the user will not realize the difference, but the privacy and security consequences are extensive.
Exodus Versus. Coinbase: Ease of Utilization
Coinbase helps make creating a portfolio of cryptocurrency simple. You can purchase by using a credit card or a connected bank account, in addition to other options for instant access to the marketplace for cryptocurrency. Coinbase is accessible Coinbase on their Coinbase website and mobile application after short signup and verification.
Exodus requires a bit more time and effort to get started for users using a desktop, which requires downloading a desktop app and creating your own software wallets. It's pretty easy for any tech-savvy person but could be more challenging for those unfamiliar with computers and the internet in general.
After you've got your account up and up and running, Coinbase is still the most user-friendly exchange due to an easy buying and selling procedure that's integrated into its mobile and website application. It also makes funding your account much simpler for those who are just beginning their investment. Exodus needs a little information about how cryptocurrency markets function to help you manage your portfolio and to avoid the high fees charged by networks.
Exodus vs. Coinbase: Security
The two companies, Coinbase as well as Exodus, are extremely secure. But they operate differently in terms of security procedures and how they ensure your crypto assets are safe. At Coinbase, the support you have is kept in a secure web-based software wallet designed on your behalf. Although these wallets are generally safe if you keep a good password and digital security practices, There's always a small possibility of hacking and losing your money.
With Exodus, the default wallet is an inbuilt software wallet. However, you can plug in an approved Trezor hardware wallet and transfer your account offline to provide security. When your cryptocurrency is kept stored in cold storage using an instrument like Trezor, your assets are secure and secure from hacking. But if you lose your password or recovery details, it could mean you lose access to your cryptocurrency. Exodus has a stronger offer for the tech-savvy user who is very concerned about safety.
Exodus Versus. Coinbase: Mobile App
Each of Coinbase and Exodus provides mobile apps. They do not. However, Coinbase also functions on the web, whereas Exodus users have to install a desktop or mobile application to access the service. The Coinbase wallet and apps work with Android or iOS devices. In addition, the Exodus desktop application works on Linux, Windows, and Mac computers.
The mobile applications of both firms are user-friendly and allow users to utilize the exchanges to perform P2P trades or the Coinbase application to buy and sell. However, Exodus apps are more than that. Exodus apps are also compatible with Trezor Hardware wallets which gives the users more control over their cryptocurrency assets.
Supported Currencies
Exodus takes this victory. There is more than twice the number of coins and tokens. There were approximately 145 as of the date of this article. The database is updated every two weeks with enhancements to security and new options. Exodus will be the best option if you are looking for rarer tokens.
Coinbase's tokens collection is smaller, but it includes the majority of what novices would need to trade. Coinbase does not have some notable omissions, such as XRP and BNB; however, these are due to political and competitive reasons. In time, XRP will be relisted on Coinbase after they have won the case of the SEC against them. Exodus cannot support certain popular tokens like Balancer and AMP. Make sure that your desired tokens are compatible before signing up with any platform.
Conclusion
So long as no one knows that you're stealing something and you adhere to an ethical internet practice, the platforms won't be able to keep you from a loss. Coinbase could give your transaction data to the authorities of the government. Exodus is not legally able to do so.
