Crypto Exchange - Trade Crypto InstantlyLatest release: 1.0 ( 20th May 2021 ) 🔍 Last analysed 16th May 2022 . Not a wallet Not updated in a while
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 ¶
⚠️ Warning: This app has a generic sounding name: “Crypto Exchange”. Since it is not mimicking any well known exchange in logo or name, it can’t be the fake of something else. Its primary focus is that it’s a referral.
As we can see in the description and title, this app is claiming to be an exchange.
With Cryptocurrency Exchange mobile app, you can benefit from user-friendly trading tools, an order book that has high liquidity, an advanced mechanism for orders, and a variety of currency pairs. Buy Bitcoins or other cryptocurrencies with your credit/debit card using the ‘Instant Buy’ button. Or, sell them off and top up your balance.
Even the screenshots claim that the app has “safe coin storage.” Everything in its Google Play page appears to be trying to make this app look like a legitimate exchange.
The App and Verdict
The actual app and website is just a link to Binance.
This app does not qualify as a wallet, and cannot hold your funds, as it only redirects to Binance. However, it has been dishonest about its features in Google Play.
The app doesn’t have the features of an exchange and merely links to one as a referral. Therefore, it does not have a bitcoin wallet.
This appears to not be a product to receive and send money.
As part of our Methodology, we ask:Is it a wallet? If not, we tag it No Wallet
If it’s called “wallet” but is actually only a portfolio tracker, we don’t look any deeper, assuming it is not meant to control funds. What has no funds, can’t lose your coins. It might still leak your financial history!
If you can buy Bitcoins with this app but only into another wallet, it’s not a wallet itself.
But we also ask:Was the product updated during the last year? If not, we tag it Stale!
Bitcoin wallets are complex products and Bitcoin is a new, advancing technolgy. Projects that don’t get updated in a year are probably not well maintained.
This verdict may not get applied if the provider is active and expresses good reasons for not updating the product.
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