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With so many options in the cryptocurrency world, it can sometimes take some time to figure out what is safe, secure, and easy to use. In this post, we will share the key aspects of Exodus and Trust Wallet.
What is the difference between them? Which one is safer? Which one is better? Finally, we’ll cover Material Bitcoin’s Wallet option and explain why it stands out from the competition.
Table of contents
What is a cryptocurrency wallet?
First of all, let’s go back to the basics and uncover what a cryptocurrency wallet is.
A cryptocurrency wallet isn’t exactly what you might think… it doesn’t hold cryptocurrencies like a traditional wallet holds your money. Instead, Stores private keys and reads your investment balances via user addresses..
In short, it is a “safe place” to store your keys and token ownership of the coins.
Choosing the right wallet for you is extremely important, especially when you consider who will have access to your wallet and how. Now, let’s dive into the differences between Exodus and Trust Wallet, two popular cryptocurrency wallets, and find out which one is best for you!
Exodus Wallet vs Trust Wallet
Exit Wallet:
Known as a non-custodial wallet that can hold up to 250 different cryptocurrenciesIncluding Bitcoin, Ethereum, XRP, BNB, XRP, Cardano, Solana, Tron, it works as a hot wallet that relies on an internet connection to access your wallet.
You can send, receive, and trade blockchain assets while your wallet is offline through a third-party exchange.
You can access Exodus through a web browser or mobile app, and since it is a self-custodial wallet,Only you have the private keys to this platform.
What makes the Exodus wallet a bit different from other wallets is that it cannot be accessed using a traditional login and password. Instead, It uses a 12-word passphrase that you alone are responsible for..
We have to say that having a unique passcode definitely makes it more difficult to hack, but it also has the downside of being almost impossible to recover if you lose or forget parts of the phrase.
Exodus Wallet does not charge any fees for setup or access to the platform, but since it uses third-party API payment processors, you will pay around 5.5% when using debit or credit cards.
Trust Wallet:
Another example of a non-custodial decentralized wallet, Trust Wallet allows its users to store their private keys, secured with a PIN and passphrase.
Like Exodus, you also need an internet connection. You can use the platform through a Chrome browser extension, and mobile apps are available for iOS and Android for easy access.
Used by over 60 million people worldwide, Trust Wallet is one of the most popular hot cryptocurrency wallets available, Support a wide range of cryptocurrencies and NFTsThe user interface is easy to manage and has built-in guides on the site and apps for quick, straightforward explanations and tutorials for new users.
Exodus vs. Trust Wallet are equal in pricing, like Trust Wallet is also free to use but charges a fee of 3-5% of the debit/credit card usage fee..
but, What sets Trust Wallet apart is its seamless ability to access decentralized applications. Through the same interface, which means you don’t need to verify your account a second time when accessing decentralized exchanges, yield farming, crypto loans, staking tools, and more.
Battle of the Wallets: Exodus Wallet vs Trust Wallet User Experience
When it comes to opinions, you can find endless amounts online. Blogs, threads, and social media are full of user experiences.
However, should you listen to your peers when deciding which cryptocurrency wallet is best for you?
Yes!
User reviews are always a good option when looking for a place to protect your investment and you should take advantage of the many opinions out there.
Of course, it is important to find reliable and honest reviews from real users. Searching for reviews within the App Store or Google Play, user experience videos on YouTube, as well as threads like those on Reddit, can be very helpful.
For example, when looking at the highly competitive market for non-custodial wallets and trying to find a winner in the Exodus vs Trust Wallet battle, Many users report that neither is a good option.especially for a large amount of cryptocurrency storage.
Reddit Insights: Exodus vs. Trust Wallet Debate
In a series of discussions on Reddit, users are sharing their thoughts on whether they prefer Exodus, Trust Wallet, or neither. Here are some of the key comments:
- User 1 (Konokonohamaru): “Why use closed source when you can use open source?”
- User 2 (Hakon): “Why limit your choices to two closed-source wallets? That defeats the purpose of self-custody. Electrum, Sparrow, and Specter are three excellent open-source wallets.”
- User 3 (igadjeed): “Neither one nor the other. Only use open source wallet apps.”
- User 4 (uncontrollable): “Absolutely not. They are both closed-source wallets. Most people may disagree with me, but most people are actually stupid. Don’t be stupid.”
- User 5 (Rainken): “Green Wallet is the most secure with multi-signature/two-factor authentication.”
These insights emphasize the importance of open source wallets and suggest alternatives such as Electrum, Sparrow, and Spectre. Some users prefer not to use either of the mentioned wallets, and prefer open source applications for improved security.
Exodus and Trust Wallet Dilemma
It’s a bit strange to think about why. Some users will not store all of their cryptocurrency in Exodus or Trust Wallet..
Why? Because they are both. Hot wallets.
Ultimately, hot wallets are unfortunately vulnerable to hacks and phishing schemes.
Some users even go so far as to compare Both wallets are dedicated to central banking services as they are closed wallets. – This means that both require developers to update and maintain the platform, rather than relying on code.
Is there another option in all this?
If security is what you need, then Bitcoin Material This is the best place to store your cryptocurrencies. It is a cold wallet that is not custodial and is not connected to the internet. This ensures that your cryptocurrencies cannot be hacked or your private keys exposed.
You actually own all your cryptocurrencies on a steel plate in your hands!
Additionally, if you want to trade or receive funds from Exodus or other wallets to your secure Bitcoin wallet, you have the option to scan the QR code on the face of the board and follow the easy-to-use steps.
As other cryptocurrency wallet users have mentioned before, wallets like Trust and Exodus, Arculusor CoinbaseFor example, electronic wallets are suitable for storing small amounts used in regular transactions, buying and selling. But if you are looking for secure storage for your cryptocurrency investments, a cold wallet like Material Bitcoin is the best option for you.
Final thoughts
No matter which cryptocurrency wallet you choose, be sure to do your research, evaluate the security features, test the ease of use of the platform, and here’s our suggestion – make sure your funds are protected from hacking.
Additional Cryptocurrency Wallet Reviews
- Ellipal Titan Review
- Arculus Wallet Review
- Coinbase Wallet Review
- Cyptowallet.com Review
