101Investing Online Trading | Forex and StocksLatest release: 1.5.78-brand101investing ( 1st December 2021 ) 🔍 Last analysed 7th April 2022 . Can't send or receive bitcoins Not functioning anymore
The product can't send or receive BTC.
As part of our Methodology, we ask:
Can it send and receive bitcoins?If the answer is "no", we mark it as "Can't send or receive bitcoins".
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.
But we also ask:
Is the product still supported by the still existing provider?If the answer is "no", we mark it as "Not functioning anymore".
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.
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Please help us spread the word discussing the risks of centralized custodians with 101Investing Online Trading | Forex and Stocks via their Twitter!
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.
The Analysis ¶
Update 2022-03-22: This app is not available anymore.
Also affiliated with MetaTrader 4, 101investing allows users to:
trade 350+ financial derivatives on Forex, cryptocurrencies, stocks, indices, and commodities.
Cryptocurrency trading is facilitated via CFDs
CFDs on bitcoin investment and 50+ most popular cryptocurrencies. No need to own, mine, or buy any of those.
Funding is made via credit or debit card, bank transfer or e-wallet.
Withdrawals can be done using the same method as funding.
This service does not allow the user to send or receive bitcoins.
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