Can Exodus safely store large amounts?
Exodus is a software solution to hold and maintain blockchain assets. While Exodus securely encrypts and protects your blockchain assets with a password, it is only as secure as the computer that it resides on and the security practices of the user.
What this means for normal users is if you use Exodus on a day-to-day computer, you have to be very cautious about things you download or websites you visit. Malware and viruses are distributed by emails or malicious website links. This malware could potentially contain key-loggers or spy software that sends your passwords or sensitive information to hackers.
To maximize security, if you are planning on holding a large amount of crypto assets, we recommend a multi-signature wallet like Copay, a hardware wallet like the Ledger, or creating offline paper wallets. Although many of these solutions will only hold the more popular assets like BTC, LTC, and ETH, they are much safer and keep your blockchain assets off of your computer.
If you are looking for a hardware or paper wallet, check out this guide to find one suited for your needs:
Exodus is in talks with hardware wallet providers and looking at implementing additional security options. It is the goal of Exodus to allow users to safely store large quantities of crypto assets with a high degree of security. However, as of now, Exodus still has more security and testing to implement before this is complete.
Long story short: If you are planning on storing large amounts of blockchain assets, we advise looking into alternative options to provide greater security.
To learn more about the vulnerabilities of software wallets, please see our Medium post on this subject:
Exodus Movement - Addressing Vulnerabilities with Software-Based Wallets