Open Source

Steve asked 2 years ago

As someone who is new to cryptocurrencies, I thought that the Exodus wallet would be a good fit for me. However, I’ve been reading the Open Source is preferred by Cryptocurrency advocates. Why is this considered the better alternative?

1 Answers
Ofir Beigel answered 2 years ago

Hey Steve, 
the reason open source is considered better is because the code is transparent and the developer can’t “hide” anything from you. However, this does not mean that anything that isn’t open source isn’t a good fit. The Bitcoin community is compiled mainly from people who believe that just like Bitcoin, software should be transparent.
Personally, while I believe open source is a great idea it’s not a must. Especially if you believe that the company behind the software is reliable. From my short interaction with the Exodus team, I believe they have a great product and I wouldn’t hesitate recommending it to beginners.
Once you start storing larger amounts of Bitcoin in your wallet it may be advised to change to a more transparent wallet.
Hope this helped.

Bitcoin Video Crash Course 

Dummy-proof explainer videos enjoyed by over 100,000 students. One email a day for 7 days, short and educational, guaranteed.

We hate spam as much as you do. You can unsubscribe with one click.