Understanding: Exodus Wallet Exchange Fees

Understanding: Exodus Wallet Exchange Fees

Image for postSource: https://support.exodus.io/article/787-how-do-i-exchange-assets-in-exodus

Exodus uses a dynamic pricing model to calculate the fees that its users pay when they exchange coins on their platform. However, unlike other exchange platforms, users own their private keys, which allows them to be in complete control of their funds. When transacting on the platform, you only pay the blockchain fees, which are mandatory for all exchanges since this fee is unavoidable. On Exodus, users are not charged for deposits or withdraw because Exodus doesn?t hold our funds, so they don?t need to charge money for any transaction settling.

If you have any questions during this article, you can comment, and we will get back to you. If you run into any Exodus errors, you can check out our story library for helpful step by step guides that will save you time and headaches with common problems.

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Introduction

Today we will be exploring the rates at which Exodus charges it?s users to exchange money on their platform. Since Exodus doesn?t hold your funds, they need to make sure that the transactions go through, so they typically will charge higher transaction fees so that there are less unconfirmed transactions, and they don?t lose money.

How it works

Exodus charges between 2%-5% in exchange fees, depending on the market. You can see the exact exchange fees when you open your wallet and go to the exchange tab. The fee is based on how many people are trading and how many people are looking for exchange rates. In times where there are thousands of transactions a second, the fees will be lower. In times where people are not making as many transactions, the charges are higher.

If there are not many transactions, Exodus must charge more to make up the amount of money they would be making in a higher market. In a large market, Exodus can charge less because they have more volume.

Benefits of Exodus?s system

Complete control

You will have complete control over your funds. If at any point you want to remove your funds, you will be able to withdraw instantly without any problems.

Complete Privacy

Exodus does not log personal information with your finances, which gives added privacy to user funds and financial data.

High speed transactions

Since the transaction fees will be a little higher, you can get near-instant transactions where you won?t need to wait for so many deals. All the work is done on the backend, so you don?t have to worry about wait times.

Conclusion

Although you might be paying more for transaction fees, Exodus doesn?t profit a penny of it. Exodus suggests higher transaction fees so that your transactions can be verified in a reasonable amount of time. Without higher transaction fees, you would inherently be paying more to exchange because the liquidity would be brought down by long wait times.

Exodus is exceptionally transparent about the fees that will be charged to your account, and you can find the accurate rates by opening your wallet and heading to the exchange section. Remember, the fees are based on market liquidity so that it will change daily.

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