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Bitcoin India Wallet & Exchange

latest release: 3.1.45 ( 29th July 2021 ) last analysed  25th September 2021 Not functioning anymore 
1.5 ★★★★★
1341 ratings
50 thousand
11th June 2018

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Older reviews (show 0 of 1 reproducible)

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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 2021-09-17: This app is no more.

In the description we read:

India’s Most Secure Bitcoin Wallet

Ok, sure. :)

You are the only one who can control and have access to your wallet.

That’s a claim of being non-custodial?

If your e-mail gets compromised, only you can access your Bitcoin India wallet, because you would still have 2fa on your phone at Google Authenticator.

If the email is relevant for your security, somebody can grant you access and that somebody … has access. That does not sound non-custodial.

All transactions are synced across all of your devices in real time and are protected by an intense bank-level security protocol.

Now if we would give them the benefit of the doubt and assume you restored the same seed on all devices then yes, the blockchain would make sure of keeping your devices in sync but somehow “protected by an intense bank-level security protocol” does induce the opposite of trust.

Many reviews read like this on Play Store:

Sagar Agarwal
★☆☆☆☆ 26 November 2020
This people are fraud u can only deposit money into it but cannot withdraw or transfer your coins. No customer supports no help desk. Beware of this fraud app!

or on App Store:

Sripada@1, 12/08/2017
It’s more than 200 cr scam org app
More than 200 Crore scam,
Bitcoin-India.org company blocked more 3000 Bitcoin holder account without any notice. DENIED WITHDRAWAL OF THIER FUND @BTC_india @arunjaitley #bitcoin_sykamreddy_scam
Don’t install this app

At this point we assume the worst. At the very least it is a custodial offering and thus not verifiable but … don’t install it. Just don’t.


Verdict Explained

This product went out of business ... or so. Read the analysis for details.

As part of our Methodology, we 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.