Bitcoin Forum

hi guys
do u think EXODUS wallet is scam
i heard that some peoples lost money
on this wallet and that exodus devs
stole their money i don't know if that's
true i have exodus installed in my pc
but i didnt deposit a lot of btc on it
only 0.001 - 0.002 BTC as a test and
i didn't lost them but i don't know if it's
safe to deposit huge BTC on this wallet or not
0.5 - 10 BTC for ex if its not safe what is the
best and safest wallets to store BTC ??
i found also this articles talking about exodus scam
https://www.reddit.com/r/btc/comments/a9nh0q/exodus_wallet_hacked_scam_wallet_you_decide_i/
https://www.reddit.com/r/Bitcoin/comments/7h6032/do_not_user_exodus_to_hold_your_coins/

I don't think so.




I don't think the devs stole it (might still be possible).

But the security of this wallet is horrible..
The chances that their funds got stolen because their computer was infected is very high.
Exodus doesn't have any security mechanism to protect your private keys.




Hell, no.

Definitely not!




For such an amount.. get a hardware wallet.. It is secure and convenient to use.
You don't want to store up to 10 BTC on a wallet which is connected to an online machine (no desktop-, mobile- or web wallets).

Another possibility would be to use a dedicated computer as a cold wallet or a paper wallet (both are more secure than a hardware wallet, but way less convenient to spend BTC from).

If you want to access your coins regularly, a hardware wallet probably is the best option for you.

I would say that for a non open source multi crypto wallet, Exodus should be pretty good enough for entry level use. I have my reservations and they did have that weird case of dropping Dogecoin support after falsely accusing developers of being dormant, but other than that I will say that they had quite good support when I ran into issues.

Used it myself for a while with no serious problems, but the sooner you can learn to use more recognised open source software, the better. And for 0.5 BTC and up? You're far better off with a Bitcoin client like Electrum, think even a hardware wallet like LEdger Nano S is only $70 without discounts. In the end, though, poor security practices will get you in the ass no matter the type of wallet you're using.

The two things that bother me the most about Exodus:

1. No support for custom fees. When the network gets busy this will bite hard.
2. You cannot backup and test the backup of the wallet, until you deposit funds!!?! It will not show you the 12 word seed mnemonic until you have committed funds. :-\

Still folks seem to love it because #altCoins ::)

it's simple, when you doubt about don't use it.
Trezor and offline wallet [paper and electrum offline ] are save for storing your balance.

Any wallet where I can't customise my fees kicks me in the teeth, and you actually have no idea what kind of fee Exodus will pay until you execute the transaction and look it up on block explorer. What's worse are those wallets where they give you a certain degree of fee flexibility, but they put "fast" fees or priority fees as absurdly high.

Now that second point I didn't know. Seems like an incredibly insane thing to force people to do.

At least the multicoin support is one (weak) reason to like Exodus. I know 1 particular Bitcoin wallet with the bare minimum of flexibility but people just like because it's "easy to use".

Mate, if you can afford to hold that amounts of BTC, there's no reason why you shouldn't invest in a reputable hardware wallet. Go get a Ledger[1] or a Trezor[2]. You're taking so much unnecessary risks for holding your bitcoin on wallets that could potentially be compromised and are constantly connected to the internet.

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[1] https://ledger.com/
[2] https://trezor.io/