Biconomy: Bitcoin, ETH &CryptoGoogle Play
Our wallet review process
We examine wallets starting at the code level and continue all the way up to the finished app that lives on your device. Provided below is an outline of each of these steps along with security tips for you and general test results.
Application build test result
Biconomy (Biconomy.com) is one of the cryptocurrency platforms that provides global currency trading services for digital assets such as Bitcoin, Litecoin and Ethereum.
Our mission We believe that the core idea of Bitcoin and blockchain is that distributed ledger and smart contract technology will build the foundation of human trust, improve transaction efficiency, and have a major impact on the society’s economy.
Bitcoin and blockchain Since the birth of Bitcoin, digital assets have been developing rapidly around the world as an Internet technology innovation practice since its inception in 2009. Blockchain technology is derived from Bitcoin, which is currently the largest application practice in blockchain. Our bitcoin and the blockchain behind it are “financial internet”, and it is possible to reconstruct the financial system from the bottom.
There are many 5-star reviews that were posted around the same day, usually around December 16-18, 2022. These reviews are usually very vaguely written, often stating that the app is “very good” and “easy to use.”
Many negative reviews mention losing money to the exchange and the company not providing any customer support.
Humphrey Ejike Osita
★☆☆☆☆ September 8, 2022
I have lost hope and confidence in this project. It looks like they are not real. The Exchange is not working. I placed an order and wish to cancel it, it refused for several months. I laid a complain in the Telegram Group and they banned me. I send a ticket to support, they never responded. I am concluding that this project is a scam and can rug pull at any given time. My advise is, if you have assets in this Exchange, I will advise you pull it with immediate effect. All is not well here.
★☆☆☆☆ December 3, 2022
This is a Fraud,Scam thief exchange. Dont use this exchange. They washed my $6000.00 after i deposited to this exchange now my balance is showing zero. Before their app update my balance was $6000.00 after apps update my balance was zero$0.00. When i contacted customer service they r not responding to my queries.Such a Fraud exchange i have never seen in my life.This is total Scam exchange.
Others report that the app is very slow or that they can’t withdraw their money.
Negative reviews from Apple:
★☆☆☆☆ January 17, 2023
ONE WEEK I have had these people dodge me. Using Biconomy is risking your funds. This is an FTX disaster waiting to happen. If you withdraw funds you risk the transaction failing, and Biconomy keeping your funds & never helping fix the situation.
The Terms and Conditions confirms that the exchange is custodial on its Terms of Service.
Section 6, Termination of Agreement:
You hereby agree that, Biconomy shall have the right to terminate all or part of Biconomy Service to you, temporarily freeze or permanently freeze (cancel) the authorizations of your account on Biconomy at Biconomy‘s sole discretion, without any prior notice, for whatsoever reason, and Biconomy shall not be liable to you; however, Biconomy shall have the right to keep and use the transaction data, records and other information that is related to such account.
This app is custodial and thus non-verifiable. We advise users to note the reported incidents surrounding this exchange.
Tests performed by Daniel Andrei R. Garcia
Do your own research
In addition to reading our analysis, it is important to do your own checks. Before transferring any bitcoin to your wallet, look up reviews for the wallet you want to use. They should be easy to find. If they aren't, that itself is a reason to be extra careful.