Hi guys, my goal is to get things set up beforehand. Thus I'm trying to pop my crypto cherry. What I've read so far suggests buying stablecoins through PayPal or Coinbase and then sending to a wallet. The only wallet I hear being talked about is Exodus. Is this the only game in town or just the most current/convenient? Are people using other wallets? Is one better for use on mobile vs PC? Do different wallets have different features? Fees? Pros? Cons? Reviews? Suggestions? Thanks in advance. I apologize if this question has been asked before.
Is everyone using Exodus???
- Thread starter flapjacks
- Start date
Troposphere
GLP-1 Apprentice
I am using Exodus for short term usage of stable coins and BTC. So far it is the only hot wallet I have used. I never leave much in that wallet, it is mostly an additional layer between my on-ramp and who I am buying from.
For long term storage I use a Trezor Safe 3 cold wallet.
For long term storage I use a Trezor Safe 3 cold wallet.
SeaGypsy
GLP-1 Enthusiast
There are several including exodus. Kraken is another big one. I use coinbase to buy then transfer to exodus. I use both on the iPad and iPhone. Easy enough and haven't had any waiting period. I buy and transfer at the time of purchase
mybodyisasewer
GLP-1 Apprentice
I played with Exodus a bit but decided against it.
Currently I buy my crypto on Kraken and transfer it to Cake wallet for Android. Then I pay the vendor from there.
Currently I buy my crypto on Kraken and transfer it to Cake wallet for Android. Then I pay the vendor from there.
FartfulCodger
GLP-1 Enthusiast
I use Exodus but whoever designed it focused more on form than function. It's awkward and unintuitive to use, but pretty to look at. It doesn't update itself properly after you've transferred crypto in or out.
But I just use it to hold crypto for the 2 minutes it takes to pay a vendor. I transfer from my Kraken custodial account into Exodus, then immediately transfer from Exodus to the vendor. I never keep a large balance in there. People have had their Exodus hacked and have had thousands stolen.
But I just use it to hold crypto for the 2 minutes it takes to pay a vendor. I transfer from my Kraken custodial account into Exodus, then immediately transfer from Exodus to the vendor. I never keep a large balance in there. People have had their Exodus hacked and have had thousands stolen.
dgoldrich
GLP-1 Apprentice
I use Exodus and I have been very pleased with it. I havent had any issues with it not updating quickly after a transfer. I would recommend it
AcadiaPeptides
GLP-1 Enthusiast
I am new and have only done 8 crypto purchases with 8 different vendors I found on here. All different vendors as I wanted a robust catalog of vendors I felt I could do business with. So take that with a grain of salt from this newbie. I choose Moonpay for reasons I do not remember. And I am sure this is not best practices but every single one of my purchases was buying USDC-Sol with Paypal through Moonpay. I then pay the vendor USDC-sol right from Moonpay. I don't keep a balance in Moonpay and so far 8 purchases later nothing has gone sideways but I would love input on how I am going to mess this up?
maokai
GLP-1 Novice
🚫No Source Discussion🚫
(I have quite a bit of crypto experiene)
I tested Exodus on Android because everyone on here suggests it and wanted to help the newbies out. It's fine for a wallet but one of the things that I didn't like is you start using it right away without the usual process of learning that you need to save your seed phrase and the importance of it. Most people will just transfer money out immediately but if for whatever reason you're holding money there for a buy and the app resets, you've lost all your money because most people never saved their seed phrase.
Phantom is good if you go down the stablecoin route on Solana and also supports Ethereum and Bitcoin.
Rabby is good if you go down the route of Ethereum.
Base (wallet app from Coinbase) is decent also as long as you don't connect it to your Coinbase account.
Even Metamask is a good suggestion. I'd start with all those before ever starting people on Exodus.
I tested Exodus on Android because everyone on here suggests it and wanted to help the newbies out. It's fine for a wallet but one of the things that I didn't like is you start using it right away without the usual process of learning that you need to save your seed phrase and the importance of it. Most people will just transfer money out immediately but if for whatever reason you're holding money there for a buy and the app resets, you've lost all your money because most people never saved their seed phrase.
Phantom is good if you go down the stablecoin route on Solana and also supports Ethereum and Bitcoin.
Rabby is good if you go down the route of Ethereum.
Base (wallet app from Coinbase) is decent also as long as you don't connect it to your Coinbase account.
Even Metamask is a good suggestion. I'd start with all those before ever starting people on Exodus.
Why do you like Kraken vs Coinbase? I looked into Cake. It's highly reviewed as a stable and safe wallet.
Thanks for all this info. Why do you say don't connect Coinbase account to Base? Tracking? Glitches?
maokai
GLP-1 Novice
🚫No Source Discussion🚫
One of the reasons you don't pay vendors directly from an exchange (like Coinbase, Kraken, Binance) is if the vendor wallet address gets blacklisted by the exchange, you risk your account getting banned. If you link your Base wallet to your Coinbase account, you remove that degree of separation and once again risk your account getting banned since you essentially gave Coinbase proof that you own that wallet. Will it get you banned as easily as if you sent it directly from an exchange, probably not. But it is added risk.
mybodyisasewer
GLP-1 Apprentice
Coinbase are bootlickers, Kraken is libertarian. Better prices, better privacy, better polices , better leadership and principles.
wileyhorse
GLP-1 Apprentice
As a complete newb, with zero crypto experience, I use exodus because there was a pretty good guide “for dummies” on the STG page. It was remarkably easy, until it came time to fund my wallet, and Visa kept blocking me (fraud prevention maybe?). Anyways, i finally got around that by funding via ApplePay. Now, i only put money in right before making a purchase. I always send a $5 test payment to my vendor first, to be sure i don’t screw up. Then when they confirm receipt, i send the rest. I don’t know if the fees for exodus are higher than others, but I’m content with it because i don’t have to dork around trying to learn a different platform.
hotsauceboss
GLP-1 Novice
🚫No Source Discussion🚫
Coinbase -> Exodus -> Vendor.
I don't believe in crypto as an investment so I don't hold more than $5 of crypto for more than 5 minutes and I only use stablecoins. So far this setup has worked flawlessly.
I don't believe in crypto as an investment so I don't hold more than $5 of crypto for more than 5 minutes and I only use stablecoins. So far this setup has worked flawlessly.
Whichever wallet you pick, do no use it to directly buy or swap crypto. Only to hold crypto and transfer it in and out. The fee they charge is exorbitant (compared to using exchanges or other mechanisms). Jumper is great, and can be used with Exodus .
That being said, I use Kraken for exchange and Exodus for a wallet. Like someone else said, saving the 12 word phrase it gives you is crucial. That phrase is basically your master key, and the wallet can be constructed anywhere using it. And if you lose it, you lose your wallet (and its contents).
That being said, I use Kraken for exchange and Exodus for a wallet. Like someone else said, saving the 12 word phrase it gives you is crucial. That phrase is basically your master key, and the wallet can be constructed anywhere using it. And if you lose it, you lose your wallet (and its contents).
This has been experience to a T. There might be something easier but I don't want to have to learn it. I can't say I'm comfortable sending crypto but maybe I'll get braver after a few hundred times!
MortalM
GLP-1 Novice
🚫No Source Discussion🚫
Phantom. I like it's compact and user friendly interface.
sofaKINGnoob
GLP-1 Novice
🚫No Source Discussion🚫
Cake Wallet for the win if you want some privacy.
Wallets compared & ranked here for the privacy features.
am-i.exposed
Wallets compared & ranked here for the privacy features.
am-i.exposed - Bitcoin Privacy Scanner
Is your Bitcoin traceable? Paste an address or txid - get a privacy score with 33 chain analysis heuristics. Free, client-side, no tracking.
am-i.exposed
Bioexplorer
GLP-1 Apprentice
I mainly use Exodus but the folks in another forum love Trust at least partly because of it's open source platform so I'll try it out on my next transaction. On first look, I don't see any big advantage to either one but Exodus will probably win out due to ease of use and familiarity.
sheilarae74
GLP-1 Enthusiast
I use exodus and Cake wallet, but cake is not for people that aren't crypto experts. I lost $7 in PYUSD because I didn't realize you have to import the token for PYSUD first because cake doesn't natively have it.
Clavicular's Hammer
GLP-1 Novice
🚫No Source Discussion🚫
I also use Kraken and Cake typically
grandpa_is_healthier
GLP-1 Apprentice
Damn thanks for this. I have both Trust & Exodus. Maybe it’s time to get CakeCake Wallet for the win if you want some privacy.
Wallets compared & ranked here for the privacy features.
am-i.exposed - Bitcoin Privacy Scanner
Is your Bitcoin traceable? Paste an address or txid - get a privacy score with 33 chain analysis heuristics. Free, client-side, no tracking.
HouseCat
GLP-1 Novice
🚫No Source Discussion🚫
I am also new to buying with crypro. For my first (only) recent transaction, I opened an Exodus wallet and bought Bitcoin there through MoonPay...the fees were quite high! I've heard that to get best fees, people do PayPal > Exodus > vendor or Robinhood > Exodus > vendor but those aren't working for me right now, maybe based on the state where I've been living. So now I'll do Coinbase> Exodus >vendor...at least it's a lower fee than MoonPay!
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Kraken has a smaller fee than Coinbase. And don't do other operations within the wallet either (like swap). Similarly expensive.
ftb.979
GLP-1 Novice
🚫No Source Discussion🚫
I like phantom as well. Haven't touched Gemini, Kraken, Binance, Bittrex in years since the MPGH forum and some prob stopped serving the U.S. Anyone still use/have Ledger Nano?
bay_area_schizo
GLP-1 Apprentice
this is same for me. only using exodus for vendor payments. I wish Exodus allowed multiple addresses for stable coins on mobile 😞. today they only allow that functionality for BTC
