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Pluang - Crypto, S&P500, Gold, Mutual Funds

latest release: 4.6.0 ( 18th September 2021 ) last analysed  21st August 2021 Can't send or receive bitcoins 
4.2 ★★★★★
14935 ratings
1 million
21st January 2018

Jump to verdict 

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 

EmasDigi has since renamed itself “Pluang”

Google Play ‘Visit Website’ link to pluang.com redirects to pluang-grow.com

You can find on the footer of pluang-grow.com that it is a portfolio management app where you can invest in Gold, S&P 500 and cryptocurrencies

Pluang is a financial app managed and developed by PT Bumi Santosa Cemerlang with the mission to give more access for Indonesian investors to invest in financial services products easily and safely with affordable cost.

All crypto asset transactions are facilitated by PT Zipmex Exchange Indonesia as a crypto asset trader

App sign up and registration only available to Indonesians with Indonesian phone number.

The FAQ About Withdrawing crypto assets:

Withdrawal of funds can be done in Rupiah to a bank account or e-wallet account.

(dg)

Verdict Explained

The product can't send or receive BTC.

As part of our Methodology, we ask:

Can it send and receive bitcoins? If not, we tag it No send/receive 

If it is for holding BTC but you can’t actually send or receive them with this product then it doesn’t function like a wallet for BTC but you might still be using it to hold your bitcoins with the intention to convert back to fiat when you “cash out”.

All products in this category are custodial and thus funds are at the mercy of the provider.

The product cannot be independently verified. If the provider puts your funds at risk on purpose or by accident, you will probably not know about the issue before people start losing money. If the provider is more criminally inclined he might have collected all the backups of all the wallets, ready to be emptied at the press of a button. The product might have a formidable track record but out of distress or change in management turns out to be evil from some point on, with nobody outside ever knowing before it is too late.