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Exodus vs Muun

Comparing
two wallets
Decided by
Editorial rating
Last reviewed
2026-08-26
Exodus2.8

The best looking wallet on this list, from an NYSE listed company, with closed source apps and swap rates starting at 0.5%.

Muun3.8Bitcoin-only

On-chain and Lightning in one balance behind a 2-of-2 multisig, backed up by an Emergency Kit file rather than twelve words.

Verdict: Muun

Muun rates higher on our rubric: 3.8 against 2.8 for Exodus.

Criterion
Editorial rating
Exodus
2.8
Muun
3.8

Exodus and Muun, fact by fact

Every row is from the two reviews as of their review dates, with sources on each. A check marks the side a decidable criterion favours; rows without one are information, not a score.

Exodus and Muun compared fact by fact from their reviews; a check marks the side a decidable criterion favours.
FactExodusMuun
Editorial rating2.83.8 (favoured on this row)
StatusAvailableAvailable
Made byExodus Movement, Inc.Muun
PriceFree downloadFree download
Who holds the keysself-custodial, keys generated and encrypted on your own deviceself-custodial, a 2-of-2 multisig where your phone holds one key and your Emergency Kit holds both
Bitcoin-onlyNoYes
Runs oniOS, Android, Windows, macOS, Linux, Browser extensioniOS, Android
ScreenNot statedNot stated
ConnectivityNot statedOne balance across on-chain and Lightning, with submarine swaps moving funds between the two
Released2015Announced for iOS in October 2019, after the Android app
Countries on the maker's listNo published listNo published list
Last reviewed2026-08-262026-08-25

Pros and cons, side by side

Exodus

What works

  • One recovery phrase carries the same wallet across desktop, mobile and a browser extension
  • Pairs with a Trezor or a Ledger, so it can be a friendly front end for keys held offline
  • Buying built in through XO Ramp with card, bank transfer, Apple Pay or Google Pay
  • Publicly listed on the NYSE as EXOD, so the company behind it files real financials
  • Device passkey locking, with no password to reuse or leak

What to watch

  • The wallet apps are closed source, so you cannot rebuild what you install and compare it to published code
  • In-app swap rates start at 0.5% and that cost is a spread inside the quote rather than a visible fee
  • Settled with OFAC for $3.1 million in December 2025 over 254 apparent violations of the Iran sanctions program, with staff found to have suggested VPN workarounds to users in Iran
  • A hot wallet unless you pair hardware, with keys on an internet connected machine
  • Bitcoin gets no special treatment in a wallet that advertises over a million assets

Muun

What works

  • One balance for on-chain and Lightning, so you never have to choose a rail before paying
  • 2-of-2 multisig means a stolen or malware-infected phone alone cannot spend your bitcoin
  • The Emergency Kit carries both keys and the output descriptors, so recovery does not depend on Muun
  • Mempool-based fee estimator, with the method published rather than asserted
  • Free, self-custodial and bitcoin only on both iOS and Android

What to watch

  • Your backup is an Emergency Kit file plus a recovery code, not twelve words you can stamp into steel
  • The newest post on Muun's blog was written days before taproot activated in November 2021
  • Payments that need a submarine swap settle on chain, and mining fees on those have surprised users
  • No coin control, no hardware wallet pairing and no way to point it at your own node

Frequently asked questions

Is Exodus or Muun better?

Muun rates higher on our rubric: 3.8 against 2.8 for Exodus. The rating follows the product rubric published on our about page; the rows above set custody, price and platforms side by side so you can check it.

Are Exodus and Muun free?

Yes, both are free to download. What differs is who holds the keys: Exodus is self-custodial, keys generated and encrypted on your own device; Muun is self-custodial, a 2-of-2 multisig where your phone holds one key and your Emergency Kit holds both.

Is Exodus or Muun bitcoin-only?

Muun is bitcoin-only; Exodus supports other assets too. Bitcoin among the million-plus assets Exodus advertises, including Ethereum, Solana and stablecoins

The full reviews: Exodus and Muun, each with its sources, and every wallet we review.

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