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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 creating new Bitcoin addresses, Bitcoin fees, and different addresses.

Updated in the last hour

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 create a new Bitcoin address?

You can create new Bitcoin addresses on Mobile and Desktop.

You can receive Bitcoin (BTC) to one Segwit (starts with bc1) address on Web3 Wallet. If Web3 Wallet is synced with Desktop or Mobile, any BTC in other addresses will be included in your Web3 Wallet's total balance.

By default, your Bitcoin wallet in Exodus Mobile and Desktop will display one SegWit (bc1q) address. If you enable your Legacy address, it will display one Legacy address. Likewise, if you enable your Taproot address, it will display one Taproot address.

You can also enable a feature to generate multiple SegWit, Taproot, and Legacy addresses for your Bitcoin wallet. Once enabled, your wallet will create a new address every time it receives BTC.

You can continue to receive BTC at any of your old addresses. To export all of your wallet's Bitcoin addresses, please see the following:

Follow these steps to turn on multiple addresses in your wallet:

Mobile

In Exodus Mobile, enabling multiple addresses for Bitcoin will also enable multiple addresses for the following UTXO-based assets: Bitcoin Cash (BCH), Bitcoin Gold (BTG), 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 on 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 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 when 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.

Exodus will automatically optimize transaction fees to make sure the wallet is paying the lowest fee, which will get the transaction confirmed on the next block. This means that Bitcoin transactions should be confirmed in around 10 minutes.


How do I set custom Bitcoin fees and enable RBF?

Download Exodus Mobile, Exodus Desktop, or Exodus Web3 Wallet to set your own custom Bitcoin transaction fees.

Setting custom fees will automatically enable RBF. If you don't set a custom fee, RBF will be disabled by default.

​​When RBF is enabled, you will be able to accelerate a stuck transaction by paying a higher transaction fee. Enabling RBF will also allow for batched transactions.


Tutorial video: How to set Bitcoin custom fees


Mobile

RBF is disabled by default. Setting a custom fee will enable RBF.

  1. Open your Bitcoin wallet and tap on the Send icon.

  2. Tap the Menu icon.

  3. Next:

    • a) Slide the slider to the left to pay a lower fee. Transactions with low fees will have lower priority and could get stuck if the fees are too low.

    • b) Slide the slider to the right to pay a higher fee. Transactions with high fees will have a higher priority, making it more likely that the miners will include it in the next batch of transactions they process.

    • c) Tap the pencil icon to input a custom fee manually.

    • d) Acceleration (RBF) is enabled automatically if you set a custom fee. If you use the recommended fee and want to enable RBF, tap the Disabled button.

      Enabling RBF makes it possible to accelerate a stuck transaction. RBF is disabled by default if you use the recommended fee.

  4. Finally, tap Confirm.

That’s it! You have set a custom transaction fee and enabled RBF to send your Bitcoin.


Desktop

RBF is disabled by default. Setting a custom fee will enable RBF.

  1. In your Bitcoin wallet, click Send.

  2. Click Show Advanced to enable the advanced sending options.

  3. Now you will see a slider:

    • a) Slide the slider to the left to pay a lower fee. Transactions with low fees will have lower priority and could get stuck if the fees are too low.

    • b) Slide the slider to the right to pay a higher fee. Transactions with high fees will have a higher priority, making it more likely that the miners will include it in the next batch of transactions they process.

    • c) You can also manually input your custom fee by clicking the Pencil icon.

That’s it! You have set a custom transaction fee to send your Bitcoin.


Web3 Wallet

RBF is disabled by default. Setting a custom fee will enable RBF.

  1. In Exodus Web3 Wallet, open your Bitcoin wallet and click the Send icon.

  2. Click where it shows the Network Fee in BTC.

  3. Now you will see a slider:

    • a) Slide the slider to the left to pay a lower fee. Transactions with low fees will have lower priority and could get stuck if the fees are too low.

    • b) Slide the slider to the right to pay a higher fee. Transactions with high fees will have a higher priority, making it more likely that the miners will include it in the next batch of transactions they process.

    • c) Once you have set a fee you are happy with, click Done.

That’s it! You have set a custom transaction fee to send your Bitcoin.


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 custom Bitcoin 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.


What if I get a warning about paying extra fees?

If you try to send out your Bitcoin from a transaction that is not yet confirmed on the blockchain, Exodus will warn you that you are paying higher fees for spending an unconfirmed transaction. This will create a CPFP transaction.

You'll also receive this warning if you are sending out lots of UTXOs or a very large sized 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.

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