Knowledge base | Exodus

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

A few assets included in Exodus, currently Augur and Golem, are powered by Ethereum. To send or exchange these Ethereum-powered assets Exodus uses a tiny bit ( just a few cents 0.02 USD ) of Ethereum to pay for the transaction.

If you are going to secure, manage or exchange Ethereum-powered assets Exodus recommends keeping a minimum of 0.1 ETH in your Exodus 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 there are a few options you have to manage and exchange these assets.

  1. Exchange any asset 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.

  1. Deposit Ethereum into your Exodus wallet. This requires you have Ethereum sent to your Exodus wallet from an outside source, typically a different outside 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.