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They have stated that keeping a few “trade secrets” has allowed them to ensure the long term success of the company and improve the security of the wallet.

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Some users might be put off by the fact that the code for the Exodus wallet is not 100% open-source, but one of the founders (JP Richardson) is considered to be very trustworthy within the developer community, having contributed over 190 open-source libraries.

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The integration of the Trezor hardware wallet with Exodus gives users the security and peace of mind of a hardware wallet while providing the convenient features, functionality, and user interface of the Exodus software wallet. This was Exodus’ answer to user requests wanting two-factor authentication and increased security, Exodus took that request to the next level. For users who hold larger amounts of assets, or for the security-minded, Exodus has formed a partnership and integration with the Trezor hardware wallet for an additional layer of security. The Exodus wallet itself is accessed with a secure password, which should be sufficient for most users. Be sure to run top anti-virus programs on your devices, and remain safe when online, not clicking unknown or untrusted links or downloading untrusted files.

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Pro tip: Ensure your device is free of any malware or viruses before using software wallets. You can read more on Exodus’ official explanation of the support of 2-FA to learn more. Since the Exodus wallet creates, encrypts and stores all of the user’s information on their local device, adding the support of traditional two-factor authenticator methods was not a plausible addition to the wallet’s security. Exodus the company, does not collect any personal information on behalf of their users and therefore, email backups are not supported and in order for two-factor authentication to work, the company needs to store a database of user accounts on their servers. The other reason is that Exodus, above all else, believes in the privacy and non-custodial rights of their users, as they believe in their communities’ right to privacy and decentralization. One of the reasons is due to potential security breaches and hacks of a user’s email, Exodus wanted to limit reliance on the security of third-party applications. There are two reasons that Exodus opts not to offer support for features such as email backups or 2-factor authentication. One of the largest criticisms against Exodus wallet from users is the lack of integration with traditional two-factor authentication methods such as Google Authenticator or Authy.

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I will also give you some top tips when using Exodus and storing your crypto.Īrticle From the Exodus Knowledge Base on how to Store Cryptocurrency Safely Image via Exodus Support In this Exodus wallet review, I will give you everything that you need to know about the wallet by digging into their security, reputation, and some of the features available in the wallet.

However, is the wallet still safe and reliable? Exodus wallet supports over 145 assets at the time of writing with support for additional assets in the pipeline, and their instant exchange integration feature allows users to swap over 100 supported digital currencies, meaning the coins never have to leave the safety and security of the user’s own wallet. It is a well-designed wallet that is aesthetically pleasing and packed with numerous features such as an option that allows users to stake assets directly within the wallet to earn passive income, and users can even exchange cryptocurrencies within the wallet. If the recovery phrase is lost, the user might not be able to retrieve their private keys.The Exodus wallet is a multicurrency cryptocurrency wallet that has generated a great deal of buzz since its launch back in 2016. Exodus users are responsible for storing their own recovery phrase. The value of the blockchain assets you exchange is subject to market and other investment risks. Any investment in blockchain assets involves the risk of loss of part or all of your investment. Past performance is not indicative of future results. Similarly, blockchain assets you exchange on the basis of your research may increase in value after your exchange.

In many cases, blockchain assets you exchange on the basis of your research may not increase in value, and may decrease in value. You are fully and solely responsible for evaluating your investments, for determining whether you will exchange blockchain assets based on your own, and for all your decisions as to whether to exchange blockchain assets with the Exodus in app exchange feature. Exodus is a software platform ONLY and does not conduct any independent diligence on or substantive review of any blockchain asset, digital currency, cryptocurrency or associated funds.

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