It’s no secret that the cryptocurrency industry is rife with scams and hacks. In fact, a study by blockchain analysis firm Chainalysis found that nearly one-quarter of all Bitcoin (BTC) in circulation has been lost to hacks and scams.
This is a startling statistic, considering that Bitcoin is the most well-known and valuable cryptocurrency.
So, what does this mean for users of popular cryptocurrency exchanges like Coinbase and Exodus?
Well, it’s important to note that no exchange is 100% safe from hacks or scams. However, there are certain exchanges that are considered to be more reliable than others.
NOTE: Warning: There is no definitive answer to the question of whether Exodus is safer than Coinbase. Both services offer different levels of security, so it is important to research both services before making a decision. Additionally, it’s important to remember that no matter which service you choose, there are always risks associated with cryptocurrency transactions and storage.
For example, Coinbase is a highly regulated exchange that stores the majority of its users’ funds in offline cold storage wallets. This makes it much more difficult for hackers to access user funds.
Exodus, on the other hand, is not as heavily regulated as Coinbase. Additionally, Exodus stores all of its users’ funds in online hot wallets.
This means that Exodus is more vulnerable to hacks than Coinbase.
So, while neither exchange is 100% safe, Coinbase is generally considered to be a more reliable and secure option than Exodus.
9 Related Question Answers Found
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It is no secret that the world of cryptocurrency is rife with scams and hacks. In fact, it seems that hardly a week goes by without another major exchange or wallet being compromised. This has led many people to ask the question: is Electrum safer than Coinbase?
