Blocktrade: Invest in 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
This app provides cryptocurrency trading services.
Section 6.3. The Crypto-assets of the User are in custody of the Operator at the level of a general account opened in the Operator’s name with a Crypto-asset custody wallet provider. In accordance thereto, the Operator holds the public and private keys giving access to the relevant account at the level of the Crypto-asset wallet provider.
Section 13.2. User consents that Companies may, by giving notice, in its sole discretion terminate Users access to the Account and use of Services including without limitation:
- terminate the Services,
- prohibit access to certain Services,
- delay or remove certain Services.
The app can only be accessed once a lengthy questionnaire is filled. Examples of questions include:
- Will you trade with your own funds?
- Has someone advised you make specific trades or transaction on blocktrade.com?
- Are you associated in any business or personally with a politically exposed individual?
KYC, AML statutes, plus an extensive questionnaire and the outright detailing of the custodial arrangements of the service, make this custodial making the app not possible to verify.
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.