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Koinal: Buy Bitcoin instantly

latest release: 1.2.14 ( 25th October 2021 ) last analysed  3rd September 2021 A wallet but not for Bitcoin 
4.7 ★★★★★
481 ratings
50 thousand
4th June 2020

Jump to verdict 

Help spread awareness for build reproducibility

Please help us spread the word discussing build reproducibility with Koinal: Buy Bitcoin instantly  via their Twitter!

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.

If you find something we should include, you can create an issue or edit this analysis yourself and create a merge request for your changes.

The Analysis 

We take our system’s security and user safety extremely seriously. All Koinal systems use 256BIT RAPID SSL and Google two factor authentication. We can proudly state that our systems are extremely secure and we have a laser focus on protecting your data and investments!

This is their statement on security but it reads more like they are talking about their servers than their wallet here. That would imply a custodial wallet.

A user wrote:

Michael
★☆☆☆☆ 1 August 2020
Stay away, collects all your information THEN tells you it does not accept your country. SCAM!

A Bitcoin wallet should not care about borders, especially not if it’s non-custodial but maybe the user meant some buying option?

As there are no further claims on the website neither, we assume the app is custodial and thus not verifiable.

EDIT:

We contacted the support and found out this information:

Koinal does not provide wallets and related services. Therefore, our customers are required to use their external wallets for their crypto purchases.

So there’s no BTC wallet services.

(lw, dg)

Verdict Explained

The product is not for BTC.

As part of our Methodology, we ask:

Is it for bitcoins? If not, we tag it No BTC 

At this point we only look into wallets that at least also support BTC.