Topic: how wasabi, electrum, exodus ... make money ? - page 2. (Read 402 times)

Pretty bad example, though. Satoshi invented money, he didn't just make an SPV wallet. Sure, he did risk his time and energy, but in a way, he did pay himself.

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Another noteworthy detail, is that people working on free software around Bitcoin, completely voluntarily and with their own hours of operation, are likely retired already. I wouldn't be surprised if OG Bitcoin Core developers or ThomasV (as an example of an old SPV dev) sit on top of big stash and have decided to maintain the ecosystem for the rest of their lives.

Exodus is a company that had a stock offering a while ago, but I do not know whether the shares were sold or not. It is a closed source service, and it has cooperation with crypto exchanges. They definitely charge fees from referral links and may sell user data (there is nothing that can Confirm or Deny this information .)

Electrum is an open source project, so funding goes to developers. You can search for developers to find out who is funding them, but with open source projects you can fork the project and develop it yourself.

Aside from the answers given by the other users of how these crypto wallet company, there is a bitcoin donation portal that support bitcoin developers and their projects. It is specifically for developers working on opened sourced project. Here is the full list - https://bitcoindevlist.com/
It looks like this.

Most of the wallet make money from their affiliated service while others does not make money in their services but it is voluntary service render to service and promote Bitcoin or other cryptocurrencies in the ecosystem. Such is life even in the real life. Those who have money can pay someone to develop an open source wallet and pay the developers to maintain the wallet while the sponsors are serious investors in cryptocurrency. So they don't know to make money from the users of the wallet. Before and even now many people think that, wallet developers make money from the transaction fee but that is not true though that was what they think and it was not bad for them to think so but that is not wrong. Developers do not make money from transaction fee or mining but it is from affiliated services or they render free service to develop the cryptocurrency ecosystem. And as others have said, and I am not far from that, and Electrum wallet developers are not making any money from the wallet but I believed they are strong investors in Bitcoin so they don't bother to even thinking of making money from it since they are making money from the investment. And I believed they update the wallet through donations and from their investment. And among all the wallets the Op mentioned, Electrum is the most friendly and easy to use. I have been trying to install Wasabi wallet in my system but I can't so I leave and for the Exodus wallet I have not seen it before.

There are typically hidden revenue streams in these companies. Wasabi's CoinJoin mixes transactions for privacy. They make money by charging a little fee for this service.

Electrum, known for its simplicity and reliability. Although free, the wallet accepts third-party plugins. Plugins with extra services can be sold. Remember the donation model. Customers that like the wallet's features donate as thanks. A subtle but effective revenue stream.

Its user-friendly UI makes Exodus a popular wallet. Exodus gets exchange fees when you shift cryptocurrencies on their free wallet. Its smart to give a free, high-quality product and monetize wallet users' additional services. They balance value and profit this way.

Other alternative question: How Satoshi makes money by create Bitcoin, Bitcoin Core and this forum? the answer is not every person that invent something is purely for making money. I guess Electrum's devs are OG, so they're already have a lot Bitcoin since Bitcoin was very cheap at that time.

They famous because they have money to advertise their project, have stakingcam program, accept multi cryptocurrency. Since most people only care about making money instead of safety, they choose a project that can generate more coins.

There are actually a lot of services that are offered without any subscription or fee payments. These people do this to improve the technology as a whole and they ask for donations to pay for some of the expenses eg. Hosting fees etc. (Preev.com)

So, if Bitcoin are doing good, then they are making a profit with the coins that they own. 👌

Some of them are developers that developed something as a side project to get noticed and to promote themselves.

That's too bad that they're working for free, in my opinion, they're the type of people that I won't mind paying for their services because they're doing what they're promising to do, they would've been making bank if they start some form of monetization but they choose to be our heroes, when I finally made a profit, I'll probably do what @ThomasV wanted us to do. I can't imagine myself running a server and having to spend my own money to run it without any profit, I salute this people, not all heroes wear capes.

I haven't seen any donation address on the official website. Maybe there was before, I can't remember but this is what I've seen on the same question if there's a way to donate to electrum.

This is the exact thing that came out when I've searched. It asked and answered three years ago on reddit.



Prolly, all of the servers and stuff are gonna run based on its community or otherwise if come short, from their own pockets.

Do Electrum devs have any donation link? I don't think people won't mind if they do that because a lot of people are using their wallet with satisfaction and it's a pretty good wallet too, easy to use and almost idiot proofed. It's pretty good that they care about their servers but the devs need some love too right?

Wasabi charges fees for CoinJoin transactions.

Electrum probably doesn't have revenue as part of its operational structure. As for donations, this was once the reply of the developer:


As for Exodus, it offers buy and sell and trades or swaps. Surely, they are earning from the spreads of those. After all, you cannot just swap or buy and sell coins and tokens based exactly on their actual prices in the market. There will always be a difference and that's a nice source of revenue.

Friendly or not, it is not most important.

A most important factor of a wallet is open source which Exodus wallet does not have. It is a close source wallet that means you have risk of backdoors set up by Exodus wallet.

You can check reviews on Exodus wallet
https://walletscrutiny.com/?platform=allPlatforms&page=0&query-string=exodus

I tend to agree, upon reading the OP's question, I'm thinking this answer.
Since Electrum is open-source or any open-source wallet, most of the developers who contribute to the progress of such open-source wallet often do so voluntarily, which means, they didn't generate any profit.  But their passion as a developer pushes them to contribute to any open source projects like Electrum Wallet.

I didn't know Exodus wallet since I didn't use it.

Electrum doesn't generate revenue directly from the wallet itself. However, developers or contributors may receive donations from users who appreciate the service.

Exodus Wallet generates revenue through relationships with third-party exchange, fiat, and other API providers who offer services in Exodus. Exodus receives a small percentage of the spread of each swap serviced by a third-party API exchange provider

Electrum relies on donations.  Exodus is a company.  Wasabi earns from coinjoins fees.

Exodus its user friendy thats why i guess its more famous.

Wasabi is a coinjoin and the money that would be made should be from coinjoin. I am not using Exodus because it is a close source wallet but it supports altcoins and it may support third parties sites that can be used to convert from one coin to another. Electrum developers are not making money from anywhere.

Its was always a thought , how the manage to make profit making a crypto wallet company free for people ?

PD: and the case of wallets without buy and sell options for crypto JUST a normal wallet.