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
Update 2022-01-03: Although there is a replacement app on Google Play, the app still points to the same developer website (coinbene.com), which is still 404 as of today. The telegram channel indicated in the iOS app page, now points to ‘null’
Update 2021-10-01: This app now appears to have a successor on Play Store, CB Global.
Update 2021-09-07: This app is not on Play Store anymore.
CoinBene App is a convenient, professional, safe, stable and reliable global digital currency exchange
CoinBene App is a cryptoasset platform and centralized exchange.
Found in the user agreement:
CoinBene makes no representations or warranties regarding the amount of time that may be required to complete transfer of your Tokens from a third party wallet or other source and have such Tokens become available in your Account.
This is an indicator of its custodial nature.
Furthermore in Section 6 Rights of its User Agreement:
The Site has the right to inquire, freeze or deduct the items and accounts of the user in the account according to the requirements of the judicial organs, administrative organs and military organs including, but not limited to, public security organs, procuratorial organs, courts, customs and tax authorities;
Verdict is therefore custodial and not verifiable
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.