Exodus, a blockchain asset management app company, has discovered a new way to remove most of counterparty risk when trading crypto assets.
Exodus is essentially an all-in-one wallet that holds multiple cryptocurrencies and is very easy to use. Currently, an Exodus wallet can hold Dogecoin, Dash, Bitcoin, Ethereum, Litecoin, Monero, and more coming soon. They will eventually integrate an option to store Factom, which will be an easier way for users to set up and store FCT than the current available options.
Exodus makes it simple to trade other assets with their Shapeshift.io integration. An asset can be easily changed from Dogecoin to Dash, Bitcoin to Ethereum, or any of the listed coin possibilities without having to trust any exchange to hold your coins.
Exodus secures private keys by keeping them encrypted and stored locally on the user’s personal computer. It only backs up encrypted metadata (transaction data), making sure that no keys are stored on any servers. Accessing the Exodus platform also requires a user’s personal password.
The wallet has a 12 word backup for users to store and print offline, and if your computer gets damaged, you can restore your wallet with a secure email link only accessible with your personal password. Exodus is extremely well designed and everything about the product has been simplified.
Recently, we have seen the value in reducing counterparty risk when trading on exchanges because of the $72 million Bitfinex hack. Now, Exodus allows users to trade assets without any counterparty risk, and the features from Exodus will continue to grow. Discover and download the platform at Exodus.io.
Accredited investors that are interested in the platform can visit bnktothefuture.com to help the team raise money and continue to develop the software. The project already hit its funding goal of $263,976 and has 18 days left to go.
Latest posts by Big Al (see all)
- Comparing NVT Signals to Market Cycles - August 31, 2018
- Augur REP Tokens Start Trading Soon - October 4, 2016
- Exodus: A New Way to Trade Cryptocurrencies without Counterparty Risk - September 18, 2016