Portals : Crypto Wallet Generator - Bitcoinlatest release: 0.0.4a last analysed 8th December 2020
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.
This app is weird and it’s not clear why 10k people downloaded it. So the app does generate wallets but you can’t really use those as such … unless you do with another software.
So neither from the description nor from trying the app out could we tell what it actually is supposed to do but there are elements of a vanity-address-generator which would put it into the wallet category as you would use those private keys on an actual wallet software and then you would rely on this app generating keys that it does not share with the provider.
Vanity address generators have been used to scam people before.
As there is some implied claim of not sharing keys with a server but no source code we consider this to be a closed source wallet and as such it is not verifiable.
Without public source available, this app cannot be verified!
This verdict means that we could not find any source to compile the app from. Internally the company might do everything right but as we can't verify it, there is nothing protecting the user from an exit-scam where the provider releases an app that leaks the keys to the servers.
The app 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 app 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.
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