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Khodo: Buy Bitcoin and Cryptocurrency in Malawi

latest release: 2.0.2 ( 12th August 2021 ) last analysed  15th November 2021 Not a wallet 
3.5 ★★★★★
54 ratings
1 thousand
2nd October 2020

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The Analysis 

App Description

Khodo is a cryptocurrency marketplace which allow Malawians to buy or sell Bitcoin and other cryptocurrencies instantly with the Malawian Kwacha. We help Malawians to invest in Bitcoin and cryptocurrencies easily.

Google Play Critical reviews

TAONGA CLIVE
★☆☆☆☆ October 8, 2021
Though just a starter but the calculator itself it’s not working well if you input kwacha values it will display more than 30000btc, I was advised to update it but it never worked and when you place an order it takes more than 6hrs to be processed may you please work on this,,

Chikondi Joseph Phiri the idealist
★☆☆☆☆ May 6, 2021
The app is the dumbest. I give it no any rating, the star you see was by mistake. Tried registering since morning but it’s not sending the verification code up to now. Tried it again but still the same thing. I don’t recommend anyone to sign up for this app with all these delays. You need to improve your services or else, get lost!!!

Social Media and Web Presence

Khodo’s twitter account’s last post was in March 22, 2019.

The site does not have a Terms and Conditions page.

The App

In the registration page, only 3 country codes were available to choose from: 265, 27 and 234. These are Malawi, South Africa and Nigeria. We tested the app’s buy Bitcoin feature and we were given 3 choices: bank transfer, Airtel Money and Mpamba. We chose bank transfer and they then gave a bank account number with details. We were not able to go past the option where they asked for payment proof.

Selling bitcoin involves sending BTC to an address owned by Khodo. There was an option to send from Khodo wallet, however an error message appeared stating: “This feature is coming soon.”

We accessed the guide via the hamburger menu where it states that Khodo does not have a wallet.

Verdict

Khodo has no bitcoin wallet. Buying bitcoin involves sending proof of payment via camera and since it says it has no wallet, the user would have to provide his own wallet via a third party app.

(dg)

Verdict Explained

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.