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
First and foremost, this financial app is a banking app.
Ibandirect is a banking application with a wide range of services, namely: IBAN account, main and additional cards issue, convenient mobile application, internet banking, and affiliate programs. A virtual Ibandirect , an IBAN account in EUR, and a wallet are available immediately after the successful registration;
Based on the screenshots on the Google Play description, depositing and withdrawing Bitcoin is possible. This is also proven by their withdrawal fees.
Deposit and withdrawal functionalities are provided by a third-party, PayDelta.
Cryptocurrency Deposit and Withdrawal Options, Cryptocurrency Storage and Exchanging Fiat to Cryptocurrency Services are provided by Paydelta Limited, company registration code HE 365190, registered address Misiaouli & Kavazoglou 41, Limassol, 3016, 2 floor, office 203E, Cyprus, a company established under laws of the Republic of Cyprus. Cryptocurrency services are provided under service agreement between Cardbit OU and Paydelta Limited.
Cryptocurrency withdrawals, deposits and storage are possible within the app, with services provided by third-parties. Together with their AML/KYC policy and section 15 Termination clauses on their Terms and Conditions, makes this service custodial with the app not verifiable.
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.