Skip to content
buybitcoinsmart
Menu

Exodus vs Phoenix

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%.

Phoenix4.0Bitcoin-only

A real Lightning node on your phone from the team behind Eclair, with a published fee table and a privacy tradeoff ACINQ states outright.

Verdict: Phoenix

Phoenix rates higher on our rubric: 4.0 against 2.8 for Exodus.

Criterion
Editorial rating
Exodus
2.8
Phoenix
4.0

Exodus and Phoenix, 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 Phoenix compared fact by fact from their reviews; a check marks the side a decidable criterion favours.
FactExodusPhoenix
Editorial rating2.84.0 (favoured on this row)
StatusAvailableAvailable
Made byExodus Movement, Inc.ACINQ
PriceFree downloadFree download
Who holds the keysself-custodial, keys generated and encrypted on your own deviceself-custodial, a real Lightning node running on your phone behind a 12 word seed
Bitcoin-onlyNoYes
Runs oniOS, Android, Windows, macOS, Linux, Browser extensioniOS, Android
ScreenNot statedNot stated
ConnectivityNot statedLightning only, connecting to ACINQ's nodes, with the option to watch the chain through your own Electrum server
Released2015December 2019, alongside ACINQ's Eclair node implementation
Countries on the maker's listNo published listNo published list
Last reviewed2026-08-262026-08-26

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

Phoenix

What works

  • A real self-custodial Lightning node on the phone, not an account on somebody's server
  • Fees published as a table on ACINQ's own site: 0.4% plus 4 sat to send, free to receive when you have liquidity
  • Standard BIP39 seed on a BIP84 path, recoverable in Electrum if ACINQ ever disappeared
  • Built by ACINQ, which develops the Eclair implementation and runs a large routing node
  • Rotating taproot receive addresses, with swaps that look like ordinary transactions on chain

What to watch

  • ACINQ's own FAQ says Phoenix offers no privacy advantage over a custodial wallet and that ACINQ knows the destination and amount of payments
  • Receiving without enough inbound liquidity costs 1% plus mining fees, and a new channel costs 1,000 sat
  • No on-chain balance, which makes it a spending wallet rather than somewhere to park savings
  • Recovering from a force close takes roughly 720 blocks, about five days
  • Wake-up notifications rely on Google services, so GrapheneOS users need the sandboxed Play Services app
  • Was off US app stores from May 3, 2024 until some point in 2025, which is why some reviews still call it unavailable there

Frequently asked questions

Is Exodus or Phoenix better?

Phoenix rates higher on our rubric: 4.0 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 Phoenix 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; Phoenix is self-custodial, a real Lightning node running on your phone behind a 12 word seed.

Is Exodus or Phoenix bitcoin-only?

Phoenix 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 Phoenix, each with its sources, and every wallet we review.

More comparisons

Every other head-to-head Exodus or Phoenix appears in.