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
App Description from Google Play
Bitone is the world’s leading multi-chain wallet, supporting multiple blockchain assets such as BTC/ETH/USDT/EOS. Relying on deep cultivation in blockchain technology and years of operating experience, BitOne is committed to providing global users with multi-dimensional and in-depth digital asset security services, making digital currency transactions more convenient, efficient and free.
Description from Website
Cryptocurrency Conversion Services
Offer mainstream payment methods for cryptocurrency and web3 services.
Also provide a service for users to sell cryptocurrencies back to fiat currencies.
Payment and collection services for Bitcoin and other cryptocurrencies from around the world,
- The website has a downloadable apk with a different version number (v.1.0). The one in Google Play is v.1.3.9
- We were not able to install the app on BlueStacks 5, Android Nougat, Pie and on Android Studio emulator API 27.
- We proceeded to install instead the downloadable APK from their site.
- We were able to install it. (Screenshots)
- It is a multicoin wallet primarily denominated in CNY.
- We solved the captcha in order to receive the verification email.
- We received it.
- We inputted a password and a pin.
- Users can pay for utilities, property management, water supply, gardening, and agriculture. This seems to be an app template for linking to real companies. Clicking ‘Pay’ for instance, results in a ‘Coming Soon’ message.
- Initially, clicking deposit Bitcoin, would result in the app asking us to login again. After clicking around the interface, it finally generated a BTC wallet address. We believe this is a flaw or a bug.
- This app has a BTC wallet that can send and receive. However, we did not find any option to backup the mnemonic phrase. Thus, it is custodial.
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.