Is Exodus a good wallet?

[abuya55]

open source and more trusted.

Why closed source wallet is less trusted? Most of ordinary users can't ready the code.

[OmegaStarScream]

Why closed source wallet is less trusted? Most of ordinary users can't ready the code.

Because you can't know what's happening in the background. A wallet provider can send your private keys/or any other personal information to their servers and you won't know about it.

It's true that the average user can't read code, but he doesn't really have to, because if a project is old and interesting enough, then it's very likely that the other developers have already reviewed it (the stars, forks, issues opened, etc. can be a good indication for the integrity of the code as well).

[bob123]

Why closed source wallet is less trusted? Most of ordinary users can't ready the code.

If a software is open source and used by a huge userbase and maybe even developed by them, the chances that a malicious code snippet will be detected is quite high. Especially when talking about software updates.
With a closed source software, you never know what the software actually is doing and what every "bug fix"- or "feature" update accomplishes.

You shouldn't trust software just because it is open source. But IMO this is an necessary prerequisite for a trustworthy software.

[Salamstar]

Exodus wallet has a great reputation, it requires no verification and provides you with strong transfer speed and the ability to back up your assets to keep your wallet safe and ready for use whenever you want. But it has the possibility of unlimited transfer of cryptocurrencies, and this is definitely a risk in the event of a hack.

[OmegaStarScream]

Exodus wallet has a great reputation, it requires no verification and provides you with strong transfer speed and the ability to back up your assets to keep your wallet safe and ready for use whenever you want. But it has the possibility of unlimited transfer of cryptocurrencies, and this is definitely a risk in the event of a hack.

That's exactly how it should be like. A non-custodial wallet is not supposed to set limits on how much you can spend and as to the safety of the funds, then that's the user's responsibility. You can grab a Trezor or ledger for less than 100$ (or even cheaper in some occasions).

[bob123]

Exodus wallet has a great reputation

No, it hasn't.
Actually, exodus is a pretty bad wallet with missing features (e.g. multi signature) and low security standards (i.e. seed exposed after unlocking the wallet).
The fact that it is closed source, doesn't make it any better.

There are lots of better wallets to choose from. I'd never recommend exodus to anyone.

it requires no verification and provides you with strong transfer speed and the ability to back up your assets

Uhm.. yes.. that's what you would expect from any wallet for a decentralized currency relying on cryptography?
Btw.. the "transfer speed" is not related to the wallet at all.

[ibuddy122505]

I've been using exodus mobile wallet application so what I can say- Exodus wallet could be solution for new people since it highlights everything about crypto in a single UI. At last, It's up to you, cause there more nice wallet out there.

Anyway, Exodus assert the Best Crypto Wallet for Desktop & Mobile! They still have a lot of work to do for satisfies user, like to bring many more features into the wallet.