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Vinet:Sell Bitcoin PayPal etc.

Latest release: 10.1 ( 25th April 2021 ) 🔍 Last analysed 31st May 2022 . Not a wallet Not functioning anymore
1 thousand
18th May 2020

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Do your own research!

Try out searching for "lost bitcoins", "stole my money" or "scammers" together with the wallet's name, even if you think the wallet is generally trustworthy. For all the bigger wallets you will find accusations. Make sure you understand why they were made and if you are comfortable with the provider's reaction.

If you find something we should include, you can create an issue or edit this analysis yourself and create a merge request for your changes.

The Analysis 

Update 2022-04-22: This app is not available anymore.

App Description

It’s a Nigeria-based platform that allows users to sell Bitcoin for Naira via Paypal and Skrill.

Can I withdraw the cryptocurrency I have deposited?
We have built our platform to enable you to sell your cryptocurrency in a fast and secure manner. We do not aim to be a wallet service. That would create unnecessary exposure of your crypto for you and for us. In the case you wish to withdraw the cryptocurrency you have deposited on your wallet address, please contact our support team. We are able to return cryptocurrency to the sending address it originated from. In your request, please add the details of the wallet as a confirmation that this is your wallet.

Terms and Conditions

Section 4.2. Vinetexchange does not offer to hold any client funds, whether these are in FIAT or in Cryptos.

The App

We tried to register, but found the app only accepts Nigerian numbers.


Vinetexchange does not store your assets, as it is a service meant to convert cryptocurrencies to Naira. It cannot be classified as a wallet.


Verdict Explained

This appears to not be a product to receive and send money.

As part of our Methodology, we ask:

Is it a wallet? If not, we tag it No Wallet

If it’s called “wallet” but is actually only a portfolio tracker, we don’t look any deeper, assuming it is not meant to control funds. What has no funds, can’t lose your coins. It might still leak your financial history!

If you can buy Bitcoins with this app but only into another wallet, it’s not a wallet itself.

But we also ask:

Is the product still supported by the still existing provider? If not, we tag it Defunct!

Discontinued products or worse, products of providers that are not active anymore, are problematic, especially if they were not formerly reproducible and well audited to be self-custodial following open standards. If the provider hasn’t answered inquiries for a year but their server is still running or similar circumstances might get this verdict, too.