Exodus Wallet

Exodus Wallet E-xodus Desktop gives you a way to Secure, Manage, and Swap in one beautiful application. Buy and sell one assets for another from the comfort of …

Exodus Wallet Security

The Exodus security level is relatively reasonable but not impressive. The first security phase involves a user-created password to access the wallet. The second phase requires you to generate a 12-word seed phrase that recovers your wallet if the device breaks down or gets stolen. It is crucial to jot this phrase somewhere in offline storage instead of your device or computer.

However, if you look at the drawbacks of Exodus security, there are some serious ones since nobody would want to lose their crypto funds from their wallets. Exodus Wallet doesn’t give any high-level protection against hackers. Here, the platform lacks two-factor authentication, which means it is super easy to hack using keyloggers and steal your logins, thereby gaining access to your wallet.

Exodus Wallet Security Measures

In addition to this, Exodus also lacks a multi-signature feature. The multi-signature address provides an extra layer of security to the wallet and requires you to sign the transaction before broadcasting it into a crypto blockchain. And normally It is common to have a multi-signature wallet on a laptop and a phone. But unfortunately, Exodus does not offer a multi-signature wallet.

Conclusion

To conclude the Exodus Wallet review, it is justified that the Exodus wallet is one of the leading hot wallet, especially for beginners. Ease of use has made it a user’s first and excellent choice compared to other wallets. The attractive design of the intuitive interface allows users to send, sell and buy a cryptocurrency and exchange them in small amounts without requiring a lengthy process that making it the best cryptocurrency wallet.

For advanced cryptocurrency users, there is a minimal advantage in using Exodus mainly because custom fees are currently restricted to Bitcoin and, more importantly, because the platform focuses more on the user crypto experience than security. This makes the wallet less secure for those who want to keep considerable funds in their software wallets.

But all in all, though Exodus does not target to please users of all experience levels, it is specially designed for beginners who would like to buy Bitcoin and more coins from their wallets without any hassle.

FAQs

Is Exodus Wallet Safe?

Exodus offers a relatively secure cryptocurrency wallet for regular use. However, an online wallet is never as safe as the digital currency stored in cold storage like a paper wallet.

Exodus desktop and mobile wallets also lack many important security features, making exodus secure less than other, more complicated ones. So, storing large amounts of crypto on this platform is not recommended.

How Does Exodus Make Money?

It is a universal fact that no one likes to work for free. So, Exodus does get a small fee as a small commission when new users use Exodus to receive or send cryptocurrency or make cryptocurrency exchanges.

Does Exodus Wallet Charge Fees?

Compared to other crypto wallets, Exodus charges transaction fees for every process of payment. The fees are then paid to the blockchain network (Ethereum, Bitcoin, Litecoin, etc.).

So, you are not paying Exodus any transaction fee. The platform puts more emphasis on reliability and speed than on lower fees. There are only network fees will be listed at the end of the Wallet app before you send. The network fees are adjustable depending on the changes in the blockchain network.

Can Exodus Wallet Be Hacked?

All Exodus does is help you store your funds. It does not store or manage your private keys (credentials that give access to crypto). If your Exodus wallet is hacked, hackers will not be able to take your funds since the private keys are with you on your device.

Is the Exodus Wallet Easy to Use?

Yes, being exceedingly beginner-friendly, Exodus is easy to use with a clear and understandable layout and popular features that are easy to navigate and access. so, users can use this wallet effortlessly.

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