is exodus ok or i need hardware wallet?

[Timmy98]

got like $2k in crypto spread across btc eth and some sol. been using exodus on my phone but keep seeing people say get hardware wallet
wonderin if exodus is safe enough or should i buy ledger? don't wanna spend $100+ if not necessary

 

[Major]

Sure for $2k you're probably fine with Exodus but make sure you have seed phrase written down on paper and stored somewhere safe. Not screenshot, not cloud, actual paper. Hardware wallet worth it once you hit $5k+ imo or if you're planning to hold long term.

 

[smith.jr]

I got a Ledger Nano X last year. Super easy to use and feels way more secure knowing my keys never touch the internet. Worth every penny honestly.

 

[Timmy98]

Sure for $2k you're probably fine with Exodus but make sure you have seed phrase written down on paper and stored somewhere safe. Not screenshot, not cloud, actual paper. Hardware wallet worth it once you hit $5k+ imo or if you're planning to hold long term.

yeah i wrote it down. kept it in drawer at home is that good enough?

 

[hack3rcon]

yeah i wrote it down. kept it in drawer at home is that good enough?

Better than nothing but anyone who breaks in your house or visits can access it. Consider fireproof safe or split it across two locations. Also never ever type that seed phrase into any website or app. Exodus already has it, you don't need to "verify" it anywhere.

 

[flipflop]

ive been using trust wallet for a year and everything is ok. exodus exodus trust wallet all basically same security level right?

 

[CryptoDada]

@flipflop hot wallets all have similar risk:
- Malware on your device can steal keys
- Phone gets stolen/hacked = funds gone
- Phishing attacks
- Clipboard hijacking

Exodus specifically is reputable and open-source which is good. Trust Wallet also solid. Real difference is hardware wallets keep private keys isolatd on physical device. For such amuonts most people accept hot wallet risk. For significant amounts hardware wallet becomes worthwhile insurance.

 

[goldkingcoiner]

yea imagine keeping thousands of dollars on a phone app then wondering if it's safe. look would u keep wallet in your unlocked car huh?

 

[sk8er]

i keep mine on coinbase is that bad lol

 

[Major]

i keep mine on coinbase is that bad lol

Not your keys not your crypto pal. Everything else is up to you honestly exchanges can freeze accounts, get hacked, go bankrupt. See FTX, Celsius, Mt Gox, etc. Coinbase is more reliable than most but still..

 

[sk8er]

Not your keys not your crypto pal. Everything else is up to you honestly exchanges can freeze accounts, get hacked, go bankrupt. See FTX, Celsius, Mt Gox, etc. Coinbase is more reliable than most but still..

ok but coinbase has insurance tho right?

 

[btcinfo891]

Insurance covers Coinbase getting hacked. Doesn't cover your account getting compromised, them freezing your funds for "investigation", or regulatory issues. Always recommend self-custody for serious amounts.

 

[Timmy98]

okay so consensus is exodus fine for now but upgrade to hardware wallet later?