How to Swap Crypto in the Exodus App?
Exodus cryptocurrency wallets stand out thanks to their functionality geared towards multi-currency portfolios. Crypto-to-crypto swap fits this profile perfectly, and ChangeHero provides this functionality to Exodus users, among other providers. Learn how it does that, and why Exodus’ opaque model that leaves the provider choice behind the curtains has its unique strengths.
Why Exodus?
Exodus has earned its reputation as one of the top crypto wallets; since 2015, the team has consistently shipped updates biweekly, expanding the asset and feature support while maintaining stability and security of the applications. They come in desktop and smartphone versions that can be synchronized to manage the same wallets on different devices.
Exodus apps meet a wide array of user profiles: it suits users who are just starting out, as well as seasoned crypto portfolio holders and avid DeFi and Web3 users. It is compatible with popular hardware wallets—Ledger and Trezor—which turns the app from a hot wallet into a software companion for cold storage devices.
At the core of its identity is commitment to functional design: the sleek appearance is complemented with ease-of-use to make Exodus the app that any crypto user can choose at any point in their journey. From on-ramping with fiat to managing and supercharging one’s crypto portfolio with staking and swaps, it covers almost every step of the way.
ChangeHero and the In-App Swap
It makes a lot of sense for a multi-currency crypto wallet to include features that complement its core value proposition: although accessible to users of any experience level, Exodus caters to crypto holders who use it as a portfolio management tool.
Many investment strategies involve rebalancing, and this is where the Swap feature comes in. If one or more positions change in price enough to skew the allocation percentages, with Exodus it becomes extremely easy to bring them back to targets by exchanging the assets, in just a couple of clicks no less. It is not only rebalancing but hedging that becomes trivial.
Unlike in some other apps, In Exodus wallets, users cannot choose the provider for a swap; it’s very likely you will finish a swap never learning which liquidity provider or swap service processed it. Instead, the rates are automatically compared and you are always offered the best option, no analysis paralysis involved.
From the provider’s side, this means that there is always competition to reach the customer, virtually forcing them to go above and beyond to source the best exchange rate for the users. In quite a few pairs, ChangeHero consistently leads and becomes this provider of choice that Exodus users get.
Step-by-Step: How to Exchange Crypto in the Exodus App
The Swap function is not too hard to locate once you initiate a session in an Exodus app: in the desktop app, which we used for this guide, it is right in the top panel, along with Portfolio, Wallets, Buy and Sell and NFT tabs.
The interface is familiar: two fields for currency amounts and dropdowns with supported crypto assets. The first field is for the cryptocurrency for exchange, where the amount can be input manually or with the ‘Min/Half/All’ buttons. The only input in the bottom field is the target cryptocurrency, and the figure is the live exchange rate calculated by the amount you provided, sourced from the best exchange rate among Exodus’ swap providers.
As minimalistic this tab is, there are a couple of handy and crucial labels and buttons included. A line below both fields for cryptocurrencies, for example, calculates the dollar value of the assets you will receive as a result and reiterates which token on which network you have chosen. Current network fees and rates are also there, not in the way but still visible, and so is a disclaimer that Exodus uses third parties to make the swaps (such as ChangeHero).
Once you have checked all details, when you hit Swap, it does not immediately start. It gives one last pause to check if you have noticed the disclaimer about swap providers and explicitly requires you to accept this.
Click ‘Continue”, and that is literally the last action needed from you; the rest is up to Exodus and partners. You will see a confirmation graphic like one below:
As the text says, you can freely use the app or close it in the meantime. This is how the Portfolio tab looks when a swap is in progress: at the very bottom, there is a shortcut to History to view the status. The funds involved in a swap are not shown in the portfolio summary but are accounted for in the Overview below.
The same is the case for the Wallets tab. The swap will show up in activity, and the balance will appear as if the swap is complete. Of course, it is made clear by the interface that this is an estimate and the funds have not arrived yet.
This is where the shortcut on the Portfolio tab takes you when you click ‘See details’. Our swap took a bit longer than expected, as shown in the ‘Extra info” message: these things happen! In case you would not like to wait a bit longer, there is a ‘Get help’ button that opens a ticket form. The ticket is delivered to the Exodus team, not a provider.
And finally, the status updates one last time to ‘Swapped’! You get the full rundown, and the balances update accordingly.
Bottom Line
Being a multi-currency crypto wallet is evidently not enough for the Exodus team; they build it to be a versatile crypto portfolio management tool. To this end, the swap feature is irreplaceable, and with providers like ChangeHero, they deliver it with nothing short of the optimal experience.
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