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Exodus vs Zengo

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%.

Zengo3.4

The wallet with no seed phrase: two MPC shares replace the private key, which removes one risk and adds a dependency.

Verdict: Zengo

Zengo rates higher on our rubric: 3.4 against 2.8 for Exodus.

Criterion
Editorial rating
Exodus
2.8
Zengo
3.4

Exodus and Zengo, 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 Zengo compared fact by fact from their reviews; a check marks the side a decidable criterion favours.
FactExodusZengo
Editorial rating2.83.4 (favoured on this row)
StatusAvailableAvailable
Made byExodus Movement, Inc.Zengo
PriceFree downloadFree download
Who holds the keysself-custodial, keys generated and encrypted on your own deviceself-custodial MPC, with no seed phrase: one secret share on your phone, one on Zengo's server, never combined
Bitcoin-onlyNoNo
Runs oniOS, Android, Windows, macOS, Linux, Browser extensioniOS, Android
ScreenNot statedNot stated
ConnectivityNot statedNot stated
Released20152018
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

Zengo

What works

  • No seed phrase exists, so there is nothing to write down, photograph, or be tricked into typing
  • Two independently created MPC shares, one on your phone and one on Zengo's server, that are never combined
  • Three factor recovery, with a documented option to register a backup for each of the three
  • Zengo says its MPC cryptography is open source, audited and peer reviewed
  • Support is available 24/7 from inside the app, which is rare in self-custody

What to watch

  • Signing requires Zengo's server, so the wallet depends on the company staying reachable in a way a seed phrase does not
  • The wallet app itself is closed source; only the cryptography underneath it is published
  • Recovery runs through your email, your cloud account and a face scan, which is three dependencies instead of one piece of paper
  • Never hacked and 2+ million wallets are Zengo's own claims on Zengo's own homepage, with no independent confirmation
  • Mobile only, with no desktop app and no hardware signing

Frequently asked questions

Is Exodus or Zengo better?

Zengo rates higher on our rubric: 3.4 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 Zengo 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; Zengo is self-custodial MPC, with no seed phrase: one secret share on your phone, one on Zengo's server, never combined.

Is Exodus or Zengo bitcoin-only?

Neither: both support assets beyond bitcoin. Exodus: Bitcoin among the million-plus assets Exodus advertises, including Ethereum, Solana and stablecoins. Zengo: Bitcoin among 1,000+ assets, including Ethereum, Solana, TRON and stablecoins.

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

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