What information does Exodus have access to?
Exodus staff does not have access to your wallet nor private information.
Unlike an exchange, there is no sign up required to use Exodus and we do not require an email address nor ask you weird, personal questions.
Your wallet is YOUR wallet. You are in full control of your blockchain assets because only you hold your private keys.
What's in this article?
- Do I control my own wallet?
- What are Private Keys and why do they matter to me?
- How is my transaction and balance information displayed in my wallet?
- How does Exodus differ from traditional exchanges with wallets?
- How does Exodus store and use my data?
Do I control my own wallet?
Exodus believes in an individual's right to privacy and full control of their funds. We've incorporated these principles into our technical design choices for Exodus.
Unlike your bank account or stock portfolio, this is what is referred to as custodial access with counterparty risk. Exodus (the company) doesn't actually hold any assets on your behalf. Exodus is non-custodial wallet with no counterparty risk.
You control your assets through a set of private keys generated from when you first opened your wallet.
Exodus is an account-less wallet which means there is no account to sign-up for to receive and use Exodus. You are essentially your own bank and have complete control.
What are Private Keys and why do they matter to me?
Exodus is a hierarchical deterministic (HD) wallet which means there is a master key and individual sets of private keys for each of your individual asset addresses in your wallet.
- The secret 12-word phrase is the master key which provides access your entire wallet including all of the assets inside. If Exodus was a house with many rooms, consider this your master key to the whole house and the key to controlling all your assets together.
- The individual private keys are different from the 12-word secret phrase because they match only one address for each asset. This is sometimes referenced as a public/private key pair.
Your Exodus wallet is a software application running locally, on your computer. It creates and manages your private keys offline.
Since we also do not control your funds, it is very important to always keep your private keys secure by never giving them to an untrustworthy site or third party. Exodus staff will never ask for your 12-words or private keys.
How is my transaction and balance information displayed in my wallet?
Exodus uses publicly available information from each of the asset's blockchains to build the current and past information in your wallet. Exodus the company provides some of the infrastructure for collecting and maintaining this data, however, we have no means of tying your individual transactions, including exchanges, to personally identifying information.
How does Exodus differ from traditional exchanges with wallets?
We differ from hosted exchanges like Coinbase or Binance, because they are in full control of your private keys and require an account, which they control, hosted on their servers.
They act like traditional bank accounts where your funds are held by the account provider. The benefit is that you could lose every password or email account you have, but there is always a chance to get access to your account back if they allow it. On the flip side, if the account provider turns out to be untrustworthy, your funds could be as good as gone. They can also freeze your account or cease your assets. Some exchanges delay for months in getting their customers' funds back to them if there are ever any issues. Some never return them at all.
Since you own and hold your private keys with Exodus, you are in 100% control.
How does Exodus store and use my data?
What information about my wallet is visible and stored by Exodus Movement, Inc?
Exodus has gone to great lengths to ensure your data and transactions are protected and remain private for your eyes only. Although your private keys never leave your computer or mobile device, Exodus takes extra steps to safeguard even the simplest things like your settings, currency preferences, theme choices, background color, etc. along with your transaction and exchange information. Because this information is personal to you and not stored on a public blockchain, Exodus encrypts this data with a password, only known to you, to keep this information private and secure even when using Exodus across multiple devices.
The first component of this protection is the secure encryption of your metadata. A key derived from your secret recovery phrase is used to encrypt your backup metadata. This means the only way to decrypt this data is if someone knows your secret recovery phrase, at which point, you probably have bigger problems to deal with!
Exodus goes one step further to obscure and protect your data by making all data files used to sync your account between devices the same relative size so even a casual observer with access to this data could not sniff out differences by comparing unique file sizes. Another way to think of this is to imagine millions of securely locked files, all with passwords only known to individuals, and then all of them wrapped in the exact same square brown box tossed into a large bin. Not only would anyone finding this data not be able to open and access this information, but they also would not know even where to start to determine what specific brown box belongs to who.
Even further, similar to a public blockchain like Bitcoin, this data is not directly bundled with any personal names that can easily link transactions to individual users.
These same rules apply to malicious hackers looking for data or even Exodus employees and our own founders for that matter. This is the reason if you email Exodus Support to help you unlock your wallet or have us help you reset your password, we can’t. Only you have access to the backup that can decrypt your files. It was designed this way from the beginning to give full control to only you.
Do keep in mind nearly all blockchain networks, except for a few privacy networks like Monero, are designed to provide transparent and public information about transactions although no associated personal data is typically associated to these transactions. In practice, this means anyone can see any transaction sent on the Bitcoin network, but unless you have sophisticated tracking in place, it is not immediately clear which transaction belongs to which individual. In Exodus, these transactions are using the same public blockchains, although we do not store this information.
In addition, when using the in-wallet exchange, IP addresses are checked to prevent exchanges from sanctioned jurisdictions such as Iran.
What information is stored by Exodus Support?
Whenever you reach out to Exodus Support for assistance, we keep a record of our conversations to better assist you over the entire length of your experience as our customer. This includes your email address and the contents of your emails.
Exodus only collects information you directly give us on our website via email or other correspondence as required to provide customer support.
To respect your privacy at any point, you can request a record of this data, or you can request that we amend the data if it is incorrect. You can also request that we erase your support data. To make a data request, simply send an email to [email protected] and we will respond as quickly as possible.
What information is stored when I visit the website Exodus.io?