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
Updated Review 2023-04-05
There were some concerns raised about the similarity in name of 2 Android apps and 2 iOS apps:
The two pairs are considered as seperate products from the same unifying entity, bity.com.br.
As we can see from the homepage of bity.com.br:
About the Bitybank
Bitypreco and Biscoint have become one.
We reinvent Banco Digital for you to use your crypts on a daily basis and gain cashback in bitcoins.
This app looks like a Brazilian cryptocurrency exchange.
Self-described as a Cryptocurrency marketplace, it claims to provide services to Latin Americans and has claimed to partner with Kraken, Binance, Braziliex, Coinext, Foxbit, Bitcambio, Bitblue, Bitfines, Bitcointrade, Novadax, FTX, etc.
It allows the buying and selling of Bitcoins.
It is clear that this service is custodial based on Section 12 of their Terms and Conditions stating:
In case of suspected fraud or any other illegal activity, BitPreço may, in addition to resorting to applicable legal measures, retain any funds or Cryptocurrencies stored in the Wallet and/or User Account or in any other way in the custody of BitPreço, until the conclusion of the respective investigations and legal determinations.
The jurisdiction that will apply is the Federative Republic of Brazil.
[Section 6.1](https://bitpreco.com/termos) Cryptocurrency Sales Order
In order to be able to issue a Sales Order, the User must have Cryptocurrencies stored in his Wallet. Cryptocurrencies can be stored in the Wallet upon deposit at the address provided by the Platform.
The platform provides the wallets for the user which is hosted on their service. This service is custodial making the app not verifiable.
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.