How do I send or exchange an Ethereum-powered asset?

A few assets included in Exodus, currently, Golem, Augur, Aragon, Gnosis, and EOS, are powered by Ethereum. To send or exchange these Ethereum-powered assets Exodus needs a tiny bit ( just a few cents ) of Ethereum to pay for the transaction.

To send or exchange an Ethereum-powered asset, Exodus requires you to keep a minimum of 0.005 Ethereum (ETH) in your Exodus wallet. We recommend that you keep at least 0.1 ETH in your wallet. This provides enough padding to send or exchange all Ethereum-powered assets hundreds of times.

If you do not have Ethereum and have an Ethereum-powered asset you want to send or exchange there are a few options you have to manage and exchange these assets:

  1. Exchange any regular asset (BTC, DASH, LTC, DCR) for Ethereum. This typically is the easiest way to get Ethereum into your Exodus wallet. Once the exchange is complete, and your Ethereum is deposited, you can begin to manage and/or exchange Ethereum-powered assets.

  2. Deposit Ethereum into your Exodus wallet. This requires you have Ethereum sent to your Exodus Ethereum address from an outside source, typically an external wallet or exchange.

More technical details below...

Just like fees in Bitcoin in order to send or exchange Ethereum-powered assets Ethereum is used to pay the tiny transaction fees. Today sending an Ethereum based asset is typically hundreds of time less than Bitcoin.

Ethereum powered assets are grouped into a category called “ERC20”. This name was derived from the original specification and discussion of Ethereum-powered assets. You can find the complete discussion here:

https://github.com/ethereum/EIPs/issues/20

These Ethereum-powered assets ride on top of the Ethereum network. In a sense, Ethereum is the gas that powers the movements of these assets.

Still need help? Contact Us Contact Us