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
With ByteHub, you are able to store, send, buy or sell the most kinds of cryptocurrency available in the market. ByteHub is also a carrier for diverse third-party DAPPs. A whole blockchain ecology can be explored in one application.
So it’s a multi-utility application, and presumably you can send and receive BTC.
The Twitter account linked to bytetrade.io, although the Play Store app noticeably did not.
ByteTrade is the soil that hopes to help the entire community grow. The BTON public chain shares an excellent consensus mechanism with the community, and developers can build their own Dapp directly on it and enjoy great convenience.
Oddly, there was no link to the application. There wasn’t even a mention of a wallet.
Upon further research, the Facebook account links to byte-trade.com. There’s still no link back to the app.
As for info on self-custody, the help center had a short article on seed phrases.
Seed phrase/mnemonics is a private key that is not protected by any encryption. Once someone gets your seed phrase/mnemonics, it is equivalent to controlling your account and asset. The following points should be noted when using the seed phrase/mnemonics:
After creating an account in ByteTrade, be sure to back up the seed phrase/mnemonics in time and double-check to make sure it is correct.
Since the private key of the wallet is held by the client, this app is presumably self custodial. However, there is no source provided for this product.
To clear the situation, we sent an inquiry to ByteTradeIO on Twitter. The Twitter account has yet to respond. As it is inactive since two years, our hopes are not too high.
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.