If you’re not familiar with Exodus, it’s a digital wallet (also known as a software wallet or a hot wallet), that is well-known for its easy-to-navigate interface and for being a user-friendly platform.
Exodus supports many cryptocurrencies, such as Bitcoin, Ether, USDT, and over 250 more.
It also has a built-in exchange integrated into the platform, appealing to beginners in the world of crypto as an “all-in-one” crypto tool.
But, a key component in buying crypto is also knowing how to keep it safe. This is where a cold wallet comes into play, making knowing how to withdraw crypto from Exodus necessary!
In this post, we will give you step-by-step instructions on how to move your BTC, ETHER and other crypto from the Exodus hot wallet onto another exchange, and for those who are into safeguarding their assets; how to store Bitcoin and other crypto in a hardware cold wallet.
Let’s get started on the “how-tos” of safely moving your crypto from Exodus.
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Step-by-Step Guide to Withdrawing Crypto from Exodus
1. Planning and Preparation
Before you can withdraw from your Exodus wallet, you want to confirm a few things:
- What amount do you want to withdraw?
- Do you have enough ETH, BTC or other crypto to cover the blockchain’s transaction fees? Make sure to verify and confirm your balance.
Know where you are sending the withdrawn amount.
- Do you have the exchange or wallet’s address on hand?
- Are you converting your crypto to fiat currency into a bank?
2. Begin the Withdrawal
Either through the Exodus app, Web3 or desktop platform, you can withdraw your crypto.
First, access the withdrawal feature by opening your Exodus wallet, then go to the wallet tab, and select the cryptocurrency you want to withdraw.
Click on the crypto asset you want to send, which will cause the individual wallet interface to pop up, then hit the arrow on the top left to send.
3. Enter the Amount
You will now be prompted to add the amount of crypto you want to withdraw.
💵If you want to withdraw fiat currency, make sure you tap the fiat currency tab.
4. Choose the Destination
You are almost done, you just need to indicate the address to where you are sending the withdrawn amount.
You can either hit the Tap to paste address field and paste the address, or manually type it in. You can also hit the QR code option, and scan the wallet’s address.
Sending crypto to the best Ethereum wallets and Bitcoin wallets is the most secure option for keeping your assets safe.
5. Confirm EVERYTHING
- Before making your withdrawal, make sure to check and confirm all the information.
⚠️ Transitions on the blockchain are irreversible!
- Before the final confirmation and sending the crypto, you can click on the 3 dots in the top right corner to add a personal note and a fee for the BTC or ETH transaction.
6. Send
If it’s your first time using Exodus to withdraw, you will need to confirm your transaction and accept that all actions are irreversible.
If all is good, slide the bar to the right to send.
After this first-time warning, you will not need to repeat this step.
Tap send
7. Follow your Withdrawl
- Track your transaction with the unique transaction ID number that Exodus provides. You can use this ID code on the blockchain explorer to follow your transaction until it’s confirmed.
Fees and Limits
Exodus charges fees for a variety of different crypto transactions. When you withdraw ETH, for example, the fee is adjusted to the network, which is usually around $2 – $5. These fees do not go to Exodus, but instead to the blockchain for the network’s miners to process your transaction.
You need to note that network fees can fluctuate due to the overall activity on the blockchain. When there is high congestion, it usually means that fees are high.
Processing Times
On average, the processing time for any cryptocurrency transactions on the Exodus platform varies depending on the specific cryptocurrency:
→ Bitcoin transactions normally take 10-60 minutes to be confirmed on the network
→ Ethereum transactions are usually processed within 2-10 minutes
→ Litecoin transactions take between 2-20 minutes to be confirmed
These processing times are affected by different factors, like the network’s congestion, the size of the withdrawal, and the fee paid by the user.
Exodus gives real-time estimates of the expected confirmation times for each transaction to help you plan when is the best time for making a withdrawal.
Keeping Your Withdrawn Crypto Safe
Exodus does its best at keeping your crypto safe, proclaiming that it is a non-custodial crypto exchange and wallet. This means that you are in control of your private keys rather than the wallet’s server.
Despite its best efforts, Exodus is a hot wallet, meaning that it is always connected to the internet. Those private keys that you thought you were controlling…well, they aren’t exactly under your control as any professional hacker can attempt to get into your account.
This is why a hardware cold wallet is your best option for storing all of your crypto.
Advantages of Using a Cold Wallet
If you’re looking to store your crypto assets over the long haul, a hardware wallet offers an extra layer of security. The Material Ether Cold Wallet is a great option for a hardware wallet and also offers security for BTC and USDT.
Taking the Material Ether wallet as an example, it stores your private keys in a secure chip on the steel plate, keeping it off any internet connection.
Having a physical separation of your crypto storage to where you exchange your Ether and other crypto, helps to keep your private keys private and is immune to online hacking, malware or phishing scams.
Material Cold Wallets: Your Best Bet for Exodus Withdrawals
Withdrawing your crypto from Exodus and moving it to a more secure storage option like one of Material’s wallets, is not only smart but also straightforward. There’s truly no reason to leave your digital assets in a hot wallet or on an exchange where they’re more vulnerable to hacks and security breaches.
Exodus has made the process of withdrawing crypto super easy. Once you decide to move your Bitcoin, Ether, or Tether from Exodus, its intuitive platform indicates each step, while Material wallets are made to be sturdy and user-friendly, helping to confirm your transaction with ease.
Sending Crypto Back to an Exchange from Exodus
When you need to trade or sell your crypto, you can send Bitcoin from your wallet back to an exchange easily:
1. Download the Exodus app only from the official website or channels.
2. Select the Currency and Amount: Choose which cryptocurrency you want to send and the amount. In the gear icon, select the option ‘Add Bitcoin from private keys’.
3. Enter the private key of your Material wallet.
4. Send Bitcoin to the desired address.
5. Enter the Destination Address: Input or scan the exchange’s deposit address.
6. Authorize and Confirm: Complete the transaction with your security credentials, and confirm the transfer.
This process guarantees that your crypto is kept secure until the moment you want to move it.
FAQ Roundup of Exodus Withdrawals
How do I get my crypto out of Exodus?
- Simply go to the wallet tab, select the cryptocurrency you want to withdraw, enter the destination address, and confirm.
Can I withdraw funds from Exodus to my card?
- Exodus does not support direct withdrawals to a debit or credit card.
Can you withdraw money from Exodus to a bank account?
- Direct withdrawals to a bank account are not possible through Exodus; instead, transfer your crypto to an exchange that can facilitate a bank transfer.
Does Exodus have a withdrawal fee?
- Exodus does not charge an additional withdrawal fee, but you must pay the network fee, which varies based on the blockchain used.
How do I transfer crypto from Exodus to Coinbase?
- From Exodus, choose the asset you want to transfer, input your Coinbase wallet address, confirm the details, and send the crypto.
By using a Material Cold Wallet for your Exodus withdrawals, you’re not just storing your crypto; you’re actively protecting it with one of the most secure ways available.
