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Bitcoin FAQs - Learn more about BTC
Bitcoin FAQs - Learn more about BTC

Everything you need to know about Bitcoin in Exodus. Learn about enabling multiple addresses, Bitcoin fees, and different address formats.

Updated over 2 months ago

Bitcoin FAQ: Everything you need to know about Bitcoin (BTC) in Exodus. BTC addresses and Bitcoin support.

Are you looking for a self-custody wallet for your Bitcoin? You can download Exodus here!


In this article:



How do I enable multiple addresses?

By default, your Bitcoin wallet in Exodus will always use the same Native SegWit Bitcoin address when you view your address to receive crypto. If you have Legacy or Taproot addresses enabled, Exodus will also always use the same Legacy or Taproot address.

In Exodus Mobile and Desktop, you can enable multiple addresses to automatically generate a new address each time your wallet receives Bitcoin.

This means after receiving Bitcoin, the next time you view your Bitcoin address to receive crypto, you will see a new unused address.

To learn more about why it can be beneficial to use multiple addresses and how it can enhance privacy, visit: Why do some assets use multiple addresses?

Multiple addresses are not supported on Web3 Wallet. However, if Web3 Wallet is synced with Desktop or Mobile, any BTC in other addresses will be included in your Web3 Wallet's total balance.

Your Bitcoin addresses can be used more than once, and you can still receive BTC to any of your previously used addresses. To export all of your wallet's Bitcoin addresses, please see the following:

Follow the steps below to enable multiple addresses:

Mobile

In Exodus Mobile, enabling multiple addresses for Bitcoin will also enable multiple addresses for the following UTXO-based assets: Bitcoin Cash (BCH), Bitcoin SV (BSV), Dash (DASH), Decred (DCR), Digibyte (DGB), Dogecoin (DOGE), Litecoin (LTC), Ravencoin (RVN), and Zcash (ZEC).

  1. In Exodus Mobile, open your Bitcoin wallet and tap the Settings icon in the top right corner.

  2. Toggle on Multiple Addresses.


Desktop

  1. In Exodus Desktop, open your Bitcoin wallet and a) click the More menu in the top right corner, then b) click on Advanced Options.

  2. Toggle on Multiple Addresses.


What are the different types of Bitcoin addresses?

To send and receive Bitcoin on Legacy, SegWit, and Taproot addresses, you can download Exodus Mobile, Exodus Web3 Wallet, or Exodus Desktop.

There are four Bitcoin address types. All four addresses can be used to send and receive Bitcoin. So what's the difference?

Not every wallet or service has upgraded to support the newer types of Bitcoin addresses like the Native SegWit format, and therefore, some wallets can only send to certain address types.

Luckily, if someone wants to send you BTC from a newer address, such as Taproot, older formats like your Native Segwit or Legacy address will be able to receive it just fine.

The most visible difference between different types of Bitcoin addresses is the address formats, and you can identify which format an address is by looking at the first characters in the address.

Below, you can see the 4 types listed from the oldest format to the newest:

Legacy (P2PKH)

Legacy addresses start with 1. Legacy addresses are the original BTC addresses. You can expect all wallets to support sending and receiving to Legacy addresses. Sending Bitcoin from a Legacy address will have the highest fee compared to other address formats.

Nested SegWit (P2SH)

Nested SegWit addresses start with 3. Nested SegWit addresses introduced multi-sig functions to Bitcoin. Sending Bitcoin from Nested SegWit has lower fees than sending from Legacy addresses.

Note that Trezor's desktop and browser app Trezor Suite refers to 'Nested Segwit' as 'Legacy Segwit' although they are the same P2SH (starts with 3) type of address.

Native SegWit (Bech32)

Native SegWit addresses start with bc1q. It is cheaper to send Bitcoin from a Native SegWit address than sending Bitcoin from a Legacy or Nested SegWit address.

Taproot (P2TR)

Taproot addresses start with bc1p. Taproot addresses are a new SegWit address type that offers more advanced security, privacy, flexibility, and scaling to Bitcoin. However, Taproot addresses are not automatically supported by wallets that support existing SegWit addresses.


What Bitcoin addresses does Exodus support?

Exodus Mobile

  • Supports receiving to Native SegWit address (starts with bc1q), Taproot (starts with bc1p), and Legacy (starts with 1) addresses

Exodus Desktop

  • Supports receiving to Native SegWit (starts with bc1q), Taproot (starts with bc1p), and Legacy (starts with 1) addresses

Exodus Web3 Wallet

  • Supports receiving to Native SegWit (starts with bc1q)

  • If Web3 Wallet is synced with Desktop or Mobile, any BTC in Legacy and Taproot addresses will be included in your Web3 Wallet's total Bitcoin balance. You can send Taproot and Legacy BTC from Web3 Wallet.

Trezor in Exodus

  • Supports receiving to Native SegWit (starts with bc1q) and Nested SegWit (starts with 3)


How do I enable and find my Legacy address?

You can enable your Legacy address on Mobile and Desktop.

By default, when you open your Bitcoin wallet in Exodus and click on Receive, you will be shown your SegWit address.

To see your Legacy address, follow these steps to enable it in your wallet:


Mobile

  1. Open your Bitcoin wallet and tap on the Settings icon in the top right corner.

  2. Toggle on Legacy Address and return to your Bitcoin wallet.

  3. Tap on the Receive icon.

  4. Finally, tap the arrows to the left and right of the QR code to see your SegWit, Taproot, and Legacy receive addresses.


Desktop

  1. In your Bitcoin wallet, a) click the More menu in the top right corner and b) click on Advanced Options.

  2. Toggle on Legacy Address and return to your Bitcoin wallet.

  3. Click Receive.

  4. Finally, click the arrows to the left and right of the QR code to see your SegWit, Taproot, and Legacy receive addresses.


How do I enable and find my Taproot address?

You can enable your Taproot on Exodus Mobile and Desktop.

By default, when you open your Bitcoin wallet in Exodus and click on Receive, you will be shown your SegWit address.

To see your Taproot address, follow the steps below to enable it in your wallet:


Mobile

  1. Open your Bitcoin wallet and tap on the Settings icon in the top right corner.

  2. Toggle on Taproot Address.

  3. Tap on the Receive icon.

  4. Finally, tap the arrows to the left and right of the QR code to see your SegWit, Taproot, and Legacy receive addresses.


Desktop

  1. In your Bitcoin wallet, a) click the More icon in the top right corner and b) click Advanced Options.

  2. Toggle on Taproot Address.

  3. Click Receive.

  4. Finally, click the arrows to the left and right of the QR code to see your SegWit, Taproot, and Legacy (if enabled) receive addresses.


How does Exodus calculate Bitcoin transaction fees?

Exodus tracks changes in the Bitcoin network (BTC) and adjusts the fees accordingly using a dynamic network fee model. The network fees are 100% paid to the Bitcoin Network (Miners) to ensure Exodus transactions are fast and delivered promptly.

When popular blockchain networks become congested, determining the right fee can make a big difference for your transaction. If a transaction fee is set too low, miners will not have the incentive to prioritize your transaction on the network, resulting in delays and slow confirmations.

You can view the current transaction fees on the Bitcoin network with a block explorer such as Mempool.space.

When sending Bitcoin, Exodus will automatically set a recommended fee to ensure that your transaction is completed in a timely manner.

If you are sending all of your BTC, if the remaining amount in your wallet is below 0.00006001 BTC, it will be added to the transaction fee. This not only helps ensure the transaction is confirmed quickly but also prevents leaving a small unusable amount of BTC, as the minimum amount of BTC you can send is 0.00006001 BTC.

Exodus also allows you to set your own custom fees if you want to use a fee that is different from the recommended fee. To learn more about setting custom Bitcoin fees, visit: How do I set Bitcoin custom transaction fees?

To learn more about transaction fees, visit: Does Exodus have transaction fees to send or receive?


What is a batched Bitcoin transaction?

Bitcoin transactions are batched when multiple Bitcoin transactions are sent together on the Bitcoin network.

Batching can be beneficial because it reduces fees and improves confirmation times.

When you batch transactions, you resend previously unconfirmed transactions with a higher fee. Combining unconfirmed transactions with a new transaction will incur a lower fee than paying for separate transactions.


How do I batch consecutive Bitcoin transactions?

To batch transactions in Exodus, sent transactions must have RBF enabled.

RBF is automatically enabled if you send the transaction with a custom fee. For more information, visit: How do I set Bitcoin custom fees and enable RBF?

With RBF enabled, you can send multiple transactions, and the wallet will automatically group your unconfirmed transactions together.

If you do not want your transactions batched, do not enable RBF or set custom fees.

Only unconfirmed transactions that are sent with RBF enabled can be batched in Exodus.


Mobile

  1. Send a Bitcoin transaction with RBF enabled. For instructions on how to enable RBF, visit: How do I set custom Bitcoin fees and enable RBF?

  2. a) Before the previous transaction is confirmed on the Bitcoin network, b) send another transaction with RBF enabled.

  3. You will see 2 BTC send transactions. Tap on each to see the transaction ID.

  4. Your two transactions have been batched into one. Both transactions will have the same transaction ID.


Desktop

  1. In Desktop, send a Bitcoin transaction with RBF enabled. You need to send the transactions with a custom fee to enable RBF. For instructions, see: How do I set custom Bitcoin fees and enable RBF?

  2. a) Before the previous transaction is confirmed on the Bitcoin network, b) send another transaction.

  3. Your two transactions will be batched into one. Both transactions will have the same transaction ID.


Web3 Wallet

  1. In Web3 Wallet, send a Bitcoin transaction with RBF enabled. You need to send the transactions with a custom fee to enable RBF. For instructions, see: How do I set custom Bitcoin fees and enable RBF?

  2. After sending and a) before this transaction confirms on the Bitcoin network, b) send another transaction.

  3. You will see 2 BTC send transactions. Your two transactions have been batched into one by replacing the first. You can confirm by a) clicking the first transaction and then b) the transaction ID.

  4. It will show as replaced on a block explorer.


How can I consolidate Bitcoin UTXOs to reduce transaction fees?

Exodus allows you to consolidate all your received Bitcoin (BTC) UTXOs into one to minimize transaction fees.

With Bitcoin (BTC) and other UTXO-based assets, every time you receive a transaction, it exists in your wallet as a separate UTXO.

When you send BTC, your wallet combines previously received UTXOs, starting with the smallest first until it reaches the amount you're sending.

The more UTXOs it has to bundle together, the more complex the transaction is to process, which results in higher fees.

To learn more about how UTXOs can affect the cost of your transaction, visit: How do transaction fees work?

Consolidating your UTXOs costs a transaction fee, so it is best to complete during a time when fees are lower. You can view current transaction fees on the Bitcoin network with a block explorer such as Mempool.space.


Video tutorial: How can I consolidate Bitcoin UTXOs to reduce transaction fees?


Mobile

  1. a) Copy your Bitcoin address, then b) tap the back arrow. For a detailed description of how to find your address, visit: How do I receive Bitcoin and crypto in Exodus?

  2. Tap the Send arrow on the left side of your wallet.

  3. a) Paste your Bitcoin address, and b) tap Continue.

  4. a) Tap All, then tap b) Preview.

  5. Review the transaction details. If everything looks good, slide the arrow to the right to send your crypto.

And you are done! All of your BTC will be sent to your wallet's address as one UTXO.


Desktop

  1. a) Copy your Bitcoin address, then b) click the X icon to go back. For a detailed description of how to find your address, visit: How do I receive Bitcoin and crypto in Exodus?

  2. Click the Send button.

  3. Next, a) paste your BTC address, b) click All, and c) click Send.

And you are done! All of your BTC will be sent to your wallet's address as one UTXO.


Web3 Wallet

  1. a) Copy your Bitcoin address, then b) click the back arrow. For a detailed description of how to find your address, visit: How do I receive Bitcoin and crypto in Exodus?

  2. Click the Send arrow on the left side of your wallet.

  3. Next, a) paste your BTC address, b) click Max, and c) click Continue. For a more detailed description of the steps to send funds, visit: How do I send Bitcoin and crypto from Exodus?

And you are done! All of your BTC will be sent to your wallet's address as one UTXO.


What is a Child-Pays-For-Parent transaction?

Child-Pays-For-Parent (CPFP) is a way to accelerate a pending transaction by creating a new transaction with a high fee that spends unconfirmed funds from the pending transaction.

Since the new transaction includes funds from the original pending transaction, it is spending funds that aren't yet available. To send the new transaction, you need the original transaction to confirm as well.

Miners will consider the combined fees of both transactions. If the total fee is attractive enough, miners are incentivized to confirm the original pending transaction so they can also process the new transaction with the high fees, thus speeding up the process.

While Exodus can't guarantee that your transaction will be included in the very next block, CPFP in the Exodus wallet increases the likelihood of faster confirmation.

If you create a CPFP transaction, Exodus warns you that you will pay higher fees for spending BTC from an unconfirmed transaction. To see how this looks in the wallet, visit the section below: What if I get a warning about paying extra fees?


What if I get a warning about paying extra fees?

If you try to send Bitcoin from a transaction that has not yet been confirmed, Exodus will warn you that you will pay higher fees for spending funds from an unconfirmed transaction. This will create a CPFP transaction.

You'll also receive this warning if you are sending out a large number of UTXOs or a very large transaction that will incur higher-than-usual fees.

CPFP transaction fees are higher to incentivize miners to include the transaction in the next block mined. Make sure you’re willing to pay the extra fee before proceeding.

If you don't want to pay the extra fees, you can wait for all of your incoming transactions to be confirmed on the blockchain before sending a transaction out.

Mobile

Desktop

Web3 Wallet

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